Saneun Issues 250 Billion KRW Social Bonds

Support for Small and Medium Enterprises Affected by COVID-19 and Resolution of Employment Instability

[Asia Economy Reporter Jin-ho Kim] The Korea Development Bank announced on the 7th that it has completed the issuance of social bonds to support companies affected by the prolonged COVID-19 crisis and to alleviate employment instability. The total issuance amount is 250 billion KRW, with a maturity of 2 years and an interest rate of 1.16%.

The bank plans to use the funds raised from this social bond issuance to support small and medium-sized enterprises overcoming damages caused by the prolonged COVID-19 crisis and companies contributing to employment stability. Detailed usage and contributions to social improvement will be posted on the bank’s website through an investor information document in the future.

Since issuing Korea’s first KRW-denominated green bond of 300 billion KRW in 2018, the bank has consistently issued ESG (Environmental, Social, and Governance) bonds every year. It plans to regularize ESG bond issuance going forward to contribute to the activation of the ESG bond market.

A bank official stated, "In line with government policies, we plan to actively implement financial support that aligns with the government’s social value enhancement policies, including green finance."

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