BS Group and KB Financial to Collaborate on Funding for Energy and AI Data Center Projects

Eight Companies Join Forces; Partnership Extends to Housing and Industrial Complex Development
Task-specific Working Groups to Identify New Business Opportunities

BS Group has joined hands with KB Financial Group to secure funds necessary for its energy facility and artificial intelligence (AI) data center businesses.

On September 9, BS Group announced that it had signed a financial cooperation business agreement with KB Financial Group at BS Hanyang Tower in Munjeong-dong, Songpa-gu, Seoul. Three BS Group affiliates—BS Boseong, BS Hanyang, and BS Industry—participated, along with five KB Financial Group subsidiaries: KB Financial Holdings, KB Kookmin Bank, KB Securities, KB Asset Management, and KB Capital.

Soonbae Kang, Chief Financial Officer of BS Group (right), and Seonghyun Kim, Head of CIB Market Division at KB Financial Group, are posing for a commemorative photo after signing a financial cooperation agreement on the 9th at BS Hanyang Tower in Songpa-gu, Seoul. BS Group

The two sides will collaborate on projects involving renewable energy power plants, energy terminals and ports, residential and industrial complexes, and AI data centers. The agreement also includes financial services for mergers and acquisitions (M&A) and initial public offerings (IPOs). They plan to establish task-specific working groups to discuss concrete collaboration projects and financial measures for each business area.

BS Group is pursuing urban development and energy projects in Solaseado, Haenam, South Jeolla Province. According to BS Group, construction began last month on a national AI computing center in Solaseado. Samsung Electronics also announced plans to invest KRW 17 trillion in an AI data center at this site. A 5.4GW-scale renewable energy power complex is also scheduled to be established in the area.

KB Financial Group arranged funding for the Shinan Ui Offshore Wind Power Project. It also secured the financial advisory mandate for the district energy project that will supply electricity and heat to the Yongin Semiconductor Cluster.

A BS Group official stated, "Cooperation with financial partners is essential to successfully advance large-scale projects. By working with KB Financial Group, the largest financial group in the country, we expect to accelerate project execution and generate greater synergy."

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