Samsung, top banks to create W2tr green growth fund for SMEs


Samsung Electronics and the nation's top five lenders have teamed up to establish a 2 trillion won fund aimed at aiding small and medium-sized enterprises struggling to comply with increasingly stringent carbon regulations both domestically and internationally. The collaboration involves offering low-interest loans to smaller businesses looking to invest in eco-friendly facilities, equipment, or technologies. Samsung Electronics and Samsung Display will contribute 80 million won and 20 million won, respectively, to the new Partner ESG Fund, while the five major lenders - KB, Shinhan, Hana, Woori, and NH NongHyup - will each provide 20 million won as loans. The initiative, set to kick off next month and run for six years, seeks to assist partner companies in establishing a foundation for ESG management. By aligning with ESG objectives, companies can apply for interest-free loans of up to 2 billion won for a maximum of three years, with the possibility of extensions. This move comes as SMEs increasingly acknowledge the importance of transitioning to ESG practices, with Samsung's involvement reflecting its commitment to supporting smaller businesses in this transition and promoting carbon neutrality.


Previous Post Next Post