Hana Financial Research Institute said on Saturday it signed a memorandum of understanding with the Korea Institute for Industrial Economics and Trade to promote productive finance.

The two organisations plan to combine industrial policy and financial research capabilities to lay the groundwork for capital to be supplied efficiently to industries in need, it said.

Under the agreement, they will pursue joint research to develop financial support measures that reflect industry-specific characteristics. Cooperation is planned in various areas, including linking industrial and financial policies, developing customised financial support models and building a data-based value assessment system.

KIET researchers will also take part in an education programme to train Hana Financial’s productive finance specialists, supporting stronger practical capabilities. The two sides will also cooperate on forums to share changes in the industrial environment and financial response strategies.

Hee-soo Jung (정희수), head of Hana Financial Research Institute, stressed that it would build a cooperative relationship that helps implement productive finance.

Nam-hoon Kwon (권남훈), president of KIET, said it would expand cooperation so policy research can be used in financial workplaces.