Eco-friendly Vehicle Sales Financing Support... Lotte Card Issues 40 Billion KRW Green Bonds
Procurement Funds to Be Utilized for Eco-Friendly Projects
Lotte Card has issued green bonds worth 40 billion KRW. The funds raised will be used for various eco-friendly projects, including financing the sales of eco-friendly vehicles.
On the 24th, Lotte Card announced that it had issued green bonds worth 40 billion KRW in compliance with the Korean Green Taxonomy Guidelines.
The Korean Green Taxonomy is a guideline jointly prepared by the Ministry of Environment and the Financial Services Commission to determine whether specific economic activities are included in eco-friendly projects aimed at carbon neutrality. Green bonds are bonds issued to raise funds for green projects aimed at environmental improvement.
The green bonds issued by Lotte Card this time have been assessed for compliance with the Korean Green Bond Guidelines by Korea Ratings. The bonds consist of a total of 40 billion KRW, with 20 billion KRW maturing in 1 year and 3 months, and 20 billion KRW maturing in 2 years.
Lotte Card plans to use the proceeds from this bond issuance to support financing for eco-friendly vehicle sales and to build infrastructure for eco-friendly transportation.
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A Lotte Card official stated, "We hope that the issuance of these Korean green bonds will be used to support the purchase of eco-friendly transportation such as electric vehicles and electric bicycles, as well as infrastructure development, thereby creating various environmental improvement effects such as greenhouse gas reduction." He added, "We will continue to practice ESG (Environmental, Social, and Governance) management that spreads positive impacts on society and the environment through various inclusive financial activities."
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