Incheon Port Authority Issues ESG Bonds Worth 110 Billion Won

[Asia Economy Reporter Park Hyesook] Incheon Port Authority announced on the 15th that it has issued ESG bonds, a total of 110 billion KRW in green bonds, related to refinancing the construction costs of the Incheon Port International Passenger Terminal.

ESG bonds are bonds issued for socially responsible investment purposes such as improving environment, society, and governance, and can only be used for eco-friendly projects, solving social issues, or enhancing transparency in governance.

The bonds were fully subscribed at 110 billion KRW (with bids totaling 350 billion KRW) through a written public tender on the 10th, with a 3-year maturity and an interest rate of 2.147%.

The 110 billion KRW raised through the issuance of ESG bonds will be used to refinance 184.9 billion KRW of construction costs for the Incheon Port International Passenger Terminal, a building certified with the highest grade of Green Building (G-SEED).

Last month, the authority established a management system that complies with the Ministry of Environment’s green bond guidelines and the International Capital Market Association (ICMA)’s green bond standards, and received the highest evaluation grade, 'G1', from the external certification agency Korea Ratings.

An official from Incheon Port Authority stated, "Issuing ESG bonds has brought us one step closer to achieving our ESG management goals," adding, "We will continue to establish ourselves as a leading ESG practice company in the public sector through eco-friendly and sustainable management."

Meanwhile, the authority held an ESG Management Committee last month and organized a dedicated task force, marking the start of full-scale ESG management efforts.

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