KB Kookmin Bank Signs Agreement with Ministry of Environment to Promote Green Bonds

Issuance of Green Bonds Worth 100 Billion KRW Planned to Support Eco-Friendly Industry in Q1

[Asia Economy Reporter Park Sun-mi] KB Kookmin Bank announced on the 16th that it has signed a business agreement with the Ministry of Environment to promote green bonds.

The signing ceremony held at the KDB Industrial Bank headquarters in Yeouido, Yeongdeungpo-gu, Seoul, was attended by Han Jeong-ae, Minister of Environment, Huh In, President of KB Kookmin Bank, and representatives of bond issuing institutions and external review agencies. Through this business agreement, the participating institutions aimed to ▲revitalize the green bond market ▲contribute to the realization of the Green New Deal and carbon neutrality goals ▲enhance the environmental improvement effects of green bonds.

As a bond issuing institution, KB Kookmin Bank plans to fulfill its social responsibility by practicing green finance, including issuing green bonds, managing funds, and post-reporting. Additionally, KB Kookmin Bank plans to issue green bonds worth 100 billion KRW within the first quarter to support renewable energy development projects such as wind and solar power generation.

Huh In, President of KB Kookmin Bank, stated, “Taking this green bond promotion agreement as an opportunity, we will do our best to spread and establish eco-friendly green finance with greater responsibility and a sense of mission.”

KB Kookmin Bank issued the first sustainable bond worth 300 million USD among domestic commercial banks in October 2018. Also, the senior sustainable bond worth 500 million USD issued in April last year was the first global public bond in Korea aimed at supporting companies affected by COVID-19, attracting significant interest from overseas investors.

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