[DigitalToday reporter Ji-young Lee] KB Financial Group will work with BS Group to jointly identify businesses and expand financial support in future growth areas such as renewable energy, energy infrastructure and AI data centres.

KB Financial said on Tuesday it signed a memorandum of understanding with BS Group on expanding productive finance and shared growth.

The two groups plan to combine their expertise in finance and industry to jointly develop business opportunities in future growth areas and build a strategic cooperation framework.

Key areas of cooperation include renewable energy and eco-friendly power generation plants; energy infrastructure such as energy hub terminals, ports and utilities; real estate supply including housing and industrial complexes; AI and energy new towns and AI data centres (AIDC); financial services related to corporate growth such as M&A and IPOs; and ESG management.

KB Financial is expanding related business in infrastructure finance based on its experience in financial advisory, arranging and investment. It arranged financing for the Shinan Ui offshore wind power project, known as the first investment of the National Growth Fund, and secured the mandate to arrange financing for the group energy project at the Yongin Semiconductor Cluster.

BS Group is pursuing renewable energy and energy infrastructure projects, including solar power. It is working on projects such as renewable energy hub terminals, floating solar power generation, LNG hub terminals and combined heat and power generation, and is also pushing ahead with a future city development project centred on Solaseado in Haenam, South Jeolla Province.

A large-scale data centre and a 5.4 GW renewable energy cluster are set to be built in the Solaseado area.

KB Financial and BS Group plan to operate working-level consultative bodies by sector to identify specific cooperation projects and expand cooperation in renewable energy and future industries.

A KB Financial official said, "It is meaningful in that the scope of productive finance will be expanded not only to advanced strategic industries but also to core infrastructure fields that support them."