Hyundai Motor and Kia Plan to Issue ESG Bonds Worth 600 Billion KRW

Likely to Invest in Eco-Friendly Vehicle Business

On the 15th, the new logo of Kia Motors was displayed on the exterior wall of the Kia Motors headquarters building in Seocho-gu, Seoul. The new logo removes the previous red oval border and presents the letters "KIA" in a simple and futuristic style. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Yoo Je-hoon] Hyundai Motor and Kia are planning to issue Environmental, Social, and Governance (ESG) bonds.

According to industry sources on the 22nd, Hyundai Motor and Kia are planning to issue ESG bonds worth 300 billion KRW each next month, totaling 600 billion KRW. It is expected that the funds raised through this will be invested in eco-friendly vehicle businesses such as electric vehicles.

Previously, Hyundai Motor announced plans to launch more than 12 electric vehicle models by 2025 and sell 560,000 units annually. Kia also aims to increase its global electric vehicle market share to 6.6% by 2025.