Financial firm announced plans to issue ESG bonds as hybrid securities after acquiring ST1, the highest rating for sustainable financing in a five-tier rating system, from Korea Ratings, a rating company credit. Woori plans to decide interest rates at the end of this month and issue bonds worth a total of 200 billion won ($ 177 million).
Headquarters of Woori Financial Group in Seoul (Woori Financial Group)
It will be the country’s first financial holding company to issue ESG bonds after receiving the highest level of ESG certification from a credit rating agency, the company said.
Other national investment firms are stepping up their efforts to become the leading players in the ESG bond market.
Samsung Securities said on February 15 that it received the top certification in the green bond category after an ESG certification assessment by the NICE Investors Service, then issued 560 billion won of ESG bonds.
The Industrial Bank of Korea announced on Feb. 18 that it was issuing 1.08 trillion won of ESG bonds after reaching the highest level in the Korea Investors Service’s social bond category.
By Park Ga-young ([email protected])