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 fourteen ESG bonds worth USD 7.7bn, as of January 2023.
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 7.7bn 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
- 2023 - Blue : 1,000
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) |
Blue |
2023 |
USD 1,000mn |
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)