Busan Urban Corporation Issues First 100 Billion Won 'Green Bonds' Since Founding

Korean Green Bonds for Environmental and Social Responsibility Management
Leading ESG Management for a Sustainable Society

Busan Urban Corporation (BMC), led by President Shin Changho, has issued 100 billion won worth of Korean green bonds for the first time since its founding, taking steps to raise funds for eco-friendly projects.

On May 21, BMC announced that the funds raised through these green bonds will be invested in the Eco Delta City waterfront development project.

This bond was issued after establishing a management system in accordance with the guidelines of the Ministry of Environment and the Financial Services Commission, ensuring compliance with the Korean Green Taxonomy (K-Taxonomy), and receiving an external review suitability judgment from Korea Ratings.

Korean green bonds are regulated so that funds can be used only for green economic activities that contribute to six major environmental objectives, including greenhouse gas reduction, water conservation, and transition to a circular economy.

BMC also plans to participate in the interest subsidy support program hosted by the Ministry of Environment and organized by the Korea Environmental Industry and Technology Institute, aiming to partially ease the interest burden on the bonds.

This program is expected to help reduce BMC’s financial costs by having the government subsidize part of the bond interest rate.

Shin Changho, President of Busan Urban Corporation, stated, "The issuance of these green bonds marks the first step toward creating a Busan-style eco-friendly city as part of our commitment to sustainable management," adding, "We will continue to lead ESG management to realize a green and smart city."

Busan Urban Corporation

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