Hyundai Card Issues 450 Billion KRW Green Bond

Hyundai Card

[Asia Economy Reporter Ki Ha-young] Hyundai Card announced on the 10th that it has issued Korean won green bonds worth a total of 450 billion won. This is the second issuance following August last year. These green bonds, issued to domestic institutional investors, have maturities ranging from 1 year and 2 months to 10 years.

Green bonds are bonds issued to raise funds for environmentally friendly projects such as environmental improvement and renewable energy projects. Hyundai Card plans to use the raised funds to provide financial services for eco-friendly vehicles such as electric and hydrogen cars, and hybrid vehicles from Hyundai and Kia Motors.

The government has set a goal to increase the sales proportion of eco-friendly vehicles in Korea to one-third of total sales by 2030 and to achieve a 10% global market share in eco-friendly vehicles.

Despite the COVID-19 pandemic's impact causing reluctance to invest in specialized credit finance companies and a weak credit market environment, Hyundai Card issued 450 billion won, more than double the initially planned amount of 200 billion won.

A Hyundai Card official stated, "As ESG (Environmental, Social, and Governance) investments expand recently, the number of asset management companies preparing ESG funds is also increasing," adding, "If ESG funds become active, the market is expected to expand and stabilize in the future."

This content was produced with the assistance of AI translation services.