Woori Financial Group Successfully Issues 200 Billion KRW ESG Bonds

Woori Financial Group has successfully issued ESG bonds in the form of new Korean won denominated capital securities worth 200 billion won.

[Asia Economy Reporter Kwangho Lee] Woori Financial Group announced on the 31st that it has successfully issued KRW 200 billion worth of ESG (Environmental, Social, and Governance) bonds in the form of new KRW-denominated hybrid capital securities.

The bonds issued this time are perpetual bonds with a callable option. Due to strong demand from institutional investors during the book-building on the 30th, the issuance amount was increased up to the maximum approved by the board of directors, KRW 200 billion, and will be issued on the 8th of next month.

By issuing in the form of new hybrid capital securities, Woori Financial expects the group's capital adequacy to improve slightly by about 10 basis points.

This bond issuance is the first among domestic financial holding companies to apply the ESG certification rating system, receiving the highest rating (ST1) in sustainable finance certification from Korea Ratings.

A Woori Financial official stated, "We plan to practice substantial ESG management going forward while also securing maximum loss absorption capacity in preparation for the prolonged COVID-19 pandemic."

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