Hana Financial Group Headquarters in Downtown Seoul / Provided by Hana Financial Group
Hana Financial Group announced on Monday that it will establish a 500 billion won ($340 million) infrastructure fund to invest in renewable energy and artificial intelligence (AI).
The fund will support major projects related to national strategic priorities, such as renewable energy and AI-related digital infrastructure.
One of the major renewable energy investments will be an offshore wind power project in Wando, South Jeolla Province, which will be one of South Korea’s largest green energy developments. The electricity generated by the wind farm will power AI data centers and advanced industrial facilities in Jeollabuk and Nam provinces.
In the AI and digital infrastructure field, the fund plans to invest in major AI hub centers in Bucheon and Incheon, Gyeonggi Province.
The company said the infrastructure fund goes beyond simple equity investments by participating in projects in the early stages of development. Our group aims to secure high-quality assets through early investment, and then acquire the right to raise funds should large-scale financing become necessary, and we can expect this to improve profits.
Hana Bank will provide 400 billion won of the total 500 billion won.
Other group affiliates participating in the fund include several units providing a total of 50 billion won, including Hana Securities with 50 billion won, Hana Life Insurance with 20 billion won, Hana Capital with 17 billion won, Hana Insurance with 10 billion won, and Hana Alternative Asset Management with 3 billion won.
An official from Hana Financial Group said, “The establishment of the 500 billion won fund will not only provide capital to the real economy that will support the country’s future industries and generate profits, but will also serve as an important example of productive finance.” “We will continue to invest in innovative growth areas such as renewable energy and AI infrastructure.”
