Woori Card Issues $80 Million ESG Shogun Bonds... First Among Credit Card Companies

The First ESG Derivative Trading Contract in the Financial Sector

[Asia Economy Reporter Ki Ha-young] Woori Card announced on the 22nd that it successfully issued Shogun bonds worth 80 million USD (approximately 91.4 billion KRW). This is the first ESG (Environmental, Social, and Governance) Shogun bond issued by a credit card company and the first ESG derivative transaction in the financial sector.

Shogun bonds refer to bonds issued by foreign companies in Japan in currencies other than the Japanese yen. The bonds were issued in US dollars with a two-year maturity and were fully underwritten by Sumitomo Mitsui Banking Corporation (SMBC). The funds raised will be used to create social value, such as providing financial support to small and micro franchisees.

Before issuance, Woori Card received eligibility certification for its 'ESG Bond Management System' from the international ESG certification agency Sustainalytics, including the Green Bond Principles (GBP), Social Bond Principles (SBP), and Sustainability Bond Guidelines (SBG). Based on this, it issued the first ESG social bond-type Shogun bond by a credit card company to support funding for small and micro franchisees and signed the first derivative transaction contract in the financial sector.

A Woori Card official stated, "The amount of ESG bonds issued in the first half of this year reached 757.7 billion KRW, greatly surpassing the 150 billion KRW issued throughout last year through social bond issuance," adding, "We will continue to diversify funding sources to enhance financial stability and actively utilize funds to realize social value."

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