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Promoting Sustainable International Economic Cooperation Promoting Sustainable International Economic Cooperation

ESG Bonds

In 2013, KEXIM issued the first green bond, USD 500mn in size, among all financial institutions in Korea. Since then, KEXIM has issued a total of thirteen ESG bonds worth USD 6.7bn, as of September 2022.

The proceeds of the ESG bonds have been used to support our companies venturing into green industries, SMEs affected by COVID-19, companies with growing employment, and projects boosting public health. KEXIM is planning to expand ESG bond issuance to provide sufficient financial assistance to the ESG related sectors, which will lead to creating environmental and social values including promoting the Green Finance and job creation.

ESG Bond Issuances

A total of USD 6.7bn issued A total of USD 6.7bn issued

A total of USD 6.7bn issued (Unit : USD mn)

  • 2013~2017 - Green : 998
  • 2018 - Green : 400, Sustainability : 295, Total : 695
  • 2019 - Green : 50
  • 2020 - Green : 761, Social : 592, Total : 1,352
  • 2021 - Green : 1,982
  • 2022 - Green : 1,624

In September 2021, KEXIM integrated its existing ESG bond management systems into a single unified framework and obtained Second Party Opinion(SPO) from a global ESG evaluation agency in order to enhance transparency in the use of proceeds and meet heightened investor’s expectations.

Under the framework consolidated in line with global standards such as the GBP (Green Bond Principles) and the SBP (Social Bond Principles), KEXIM keeps trying to enhance the transparency of ESG bond management and take the lead in invigorating the domestic/foreign ESG bond market, by annually disclosing the allocation of proceeds on the Bank’s website and receiving external verification of the disclosure.

Details of KEXIM’s ESG Bonds

Details of KEXIM’s ESG Bonds
Type Year Size Reference
Green 2022 USD 50mn Private placement
2022 EUR 550mn (USD 570mn) Global Bond
2022 USD 1,000mn Global Bond
2021 EUR 850mn (USD 980mn) Global Bond
2021 USD 1,000mn Global Bond
2020 EUR 700mn (USD 760mn) Global Bond
2019 USD 50mn Private placement
2018 USD 400mn Korea’s first Green Formosa Bond(Global Bond)
2017 INR 6.3bn (USD 98mn) Private placement
2016 USD 400mn Global Bond
2013 USD 500mn First Green Bond by Korean issuer(Global Bond)
Social 2020 EUR 500mn (USD 590mn) Global Bond
Sustainability 2018 KRW 350bn
(KRW-denominated issuance)
Korea's first SDG Bond*

* Special purpose bonds whose proceeds are dedicated to the 17 Sustainable Development Goals (SDGs) the UN has set to achieve by 2030.

Details of KEXIM’s ESG Bonds

Details of KEXIM’s ESG Bonds
Year Size Reference
Green
2022 USD 50mn Private placement
2022 EUR 550mn (USD 570mn) Global Bond
2022 USD 1,000mn Global Bond
2021 EUR 850mn (USD 980mn) Global Bond
2021 USD 1,000mn Global Bond
2020 EUR 700mn (USD 760mn) Global Bond
2019 USD 50mn Private placement
2018 USD 400mn Korea’s first Green Formosa Bond(Global Bond)
2017 INR 6.3bn (USD 98mn) Private placement
2016 USD 400mn Global Bond
2013 USD 500mn First Green Bond by Korean issuer(Global Bond)
Social
2020 EUR 500mn (USD 590mn) Global Bond
Sustainability
2018 KRW 350bn
(KRW-denominated issuance)
Korea's first SDG Bond*

* Special purpose bonds whose proceeds are dedicated to the 17 Sustainable Development Goals (SDGs) the UN has set to achieve by 2030.

ESG Bonds Framework and report

SDG Framework and Report (KRW)

Framework

pdf filedownload

Second Party Opinion

pdf filedownload