Hanwha Group, a Korean conglomerate with businesses in chemicals and finance, said it will back eco-friendly and socially responsible small and medium-size companies for the first time.

It has chosen 18 companies after screening a list of corporate applicants for shared growth between March 29 and April 13, the group said in a press release.

The conglomerate plans to provide assistance in the areas of financing, marketing, product development and market entrance for the 18 companies, with the aim of making them self-sustainable as green corporations in the long-run.

Executives of the chosen companies will participate in three-month business programs offered by Korea Advanced Institute of Science and Technology in collaboration with Hanwha.

Once they complete the programs, executives will be given KAIST certificates, the conglomerate noted.

It is part of efforts to promote clean energy businesses to make Korea an environmentally-friendly country, and at the same time increase jobs through shared growth with small enterprises, according to the company.

(hkp@heraldcorp.com)