Jang Ho-sik (장호식), head of Shinhan Bank's CIB Group, Woo Tae-hee (우태희), CEO of Hyosung Heavy Industries, and Lee Seok-won (이석원), CEO of Shinhan Asset Management, pose for a photo at a productive finance business agreement ceremony to expand power infrastructure and green energy businesses at TP Tower in Seoul's Yeouido district on May 8. [Photo: Shinhan Bank]

Shinhan Bank will move to expand cooperation with Shinhan Asset Management and Hyosung Heavy Industries in global renewable energy projects.

Shinhan Bank said on May 11 that it signed a business agreement on May 8 at TP Tower in Seoul’s Yeouido district to strengthen competitiveness in global energy infrastructure projects.

The agreement was set up to broaden collaboration in the global renewable energy market based on experience managing the Shinhan-Hyosung Global Greenway Fund. The partners plan to strengthen cooperation in overseas energy infrastructure based on existing joint investment experience and partnership.

Shinhan Bank plans to provide financial solutions to Hyosung Heavy Industries’ overseas renewable energy and battery energy storage system (BESS) projects, including project finance (PF) arranging, foreign-currency payment guarantees and derivatives.

Shinhan Bank’s policy is to combine industrial expertise in the field with financial capabilities to contribute to strengthening the competitiveness of South Korean companies in the global energy transition market.

A Shinhan Bank official said, "We will play our role in productive finance so that global green businesses can grow."

Keyword

#Shinhan Bank #Shinhan Asset Management #Hyosung Heavy Industries #BESS #TP Tower
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