Hanwha Solutions Chairman and CEO Kim Dong-kwan (third from left) and Korea Development Bank President Lee Dong-gull (fourth from left) pose for a photo after signing a funding. KDB will provide 5,000 billion won to finance Hanwha’s environmental, social and governance activities over the next five years. (Hanwha)
Hanwha Group has secured a 5 trillion won ($ 4.4 billion) pledge from the Development Bank of Korea to fund its environmental, social and governance efforts over the next five years, said Wednesday. the society.
According to South Korea’s seventh-largest conglomerate, the money will be used to acquire and operate environmentally friendly solar and hydrogen companies, as well as to invest in facilities.
“The Hanwha Group will prepare the next decade as a leader in green energy by advancing its green energy business models and developing next-generation technologies,” said Kim Dong-kwan, Chairman and CEO of Hanwha Solutions, the eldest son of Hanwha Group Chairman Kim Seung-youn.
The agreement was signed in Jincheon, North Chungcheong Province, at the Hanwha Q Cells solar cell and module factory. Hanwha Q Cells is the solar unit of Hanwha Solutions, and the Jincheon plant is the first in the country to join Renewable Energy 100, a global initiative to produce electricity produced 100% from renewable energy, according to Hanwha Group.
At the ceremony, Hanwha Group and KDB further agreed to establish an ESG fund worth 100 billion won this year to support small and medium enterprises with promising green technologies.
By Kim Byung-wook ([email protected])