“Helping the low-carbon transition” ... BNK Financial Group expands support for climate tech companies

[Financial News] BNK Financial Group is helping local climate tech companies invest in eco-friendly facilities. In cooperation with Busan Metropolitan City and KOTEC, it is expanding support—which had been limited to working capital—to include facility funds, while easing the burden of loan interest and guarantee fees to support companies’ investments in eco-friendly facilities.
According to financial industry sources on the 6th, BNK signed a “Business Agreement to Support the Financial Costs of Climate Tech Companies in Busan Metropolitan City” with Busan Metropolitan City and KOTEC that day at Busan City Hall in Yeonje District, Busan.
This agreement is a follow-up to the “Full Financial Cost Support for Carbon-Reduction Technology Companies” agreement signed in July 2024. Under the earlier agreement, the three institutions provided 20 billion won in working capital to 42 local climate tech companies, exhausting the entire support limit originally planned.
The new agreement expands the scope of support to include facility funds. The plan is to ease companies’ financial burdens and actively support the commercialization of carbon-reduction technologies and investment in eco-friendly facilities.
Busan Bank and BNK Kyongnam Bank will offer preferential-rate loans and support guarantee fees. Busan Metropolitan City will subsidize loan interest and help establish a greenhouse gas management system so companies can identify and manage their greenhouse gas emissions. KOTEC will waive technology evaluation fees and provide preferential guarantees.
BNK plans to support local climate tech companies with strong growth potential and expand productive finance and environmental, social and governance (ESG) finance to help local industries transition to eco-friendly practices. A BNK Financial Group representative said, “We will continue to work closely with Busan Metropolitan City and KOTEC to actively support the growth of local businesses and the sustainable development of the local economy.”
[email protected] Lee Hyun-jung Reporter