South Korea’s Shinhan Financial Group Co. will inject 26 trillion won ($21.9 billion) to back state-led New Deal programs aimed at spurring digital migration and revitalizing the coronavirus-stricken economy over the next four years.
Shinhan Financial Group said on Monday that it will carry out its role as supporter of the Korean version of New Deal by injecting 26 trillion won over the next four years – 16 trillion won via innovation funds, 1 trillion won via innovative investment, and 9 trillion won via green finance, investment, and loans. The group will indirectly inject funds in new growth sectors by creating funds using private capital and provide direct support to discover and nurture startups.
Shinhan Financial Group plans to help companies in promising technology sectors by expanding tech credit bureau, intellectual property, and movable asset-backed loans.
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