Hana Financial Group and Woori Financial Group would each provide 10 trillion won ($8.35 billion) to support the government-led initiative for long-term economic growth called New Deal.

The two financial groups said they will increase support for Digital and Green New Deal – one of the two pillars of the government’s ambitious vision. In order to help shore up the country’s digital and technology sector, they will invest in material, component and equipment businesses and give financial aid to establish smart industrial clusters. They also pledged a support in adding 5G network related facilities and data centers.

They will extend help for eco-friendly new businesses and invest in low-carbon, decentralized energy businesses to help the government’s green growth drive.

Hana Financial Group signed a memorandum of understanding with Doosan Group last Friday to give financial help to Doosan’s wind power, hydrogen fuel and green energy businesses. Woori Financial group recently decided to strengthen inter-affiliate cooperation and increase aid to back up the New Deal project.

By Lee Sae-ha and Choi Mira

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