Yeosu Gwangyang Port Authority Issues ESG Bonds Worth 50 Billion KRW

Yeosu Gwangyang Port Authority Accelerates ESG Management Including Smart and Eco-Friendly Port Development

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seonsik] Yeosu Gwangyang Port Authority (President Cha Minsik, hereinafter referred to as the Authority) announced on the 21st that it has issued social bonds worth 50 billion KRW to be used for the expansion project of the hinterland complex to revitalize the local industry and generate cargo volume.

These bonds are the Authority's first ESG bonds issued after establishing a management system that complies with the International Capital Market Association (ICMA) social bond principles and receiving verification from an external professional institution. They are public bonds with a maturity of 5 years and an issuance interest rate of 1.851%.

The Authority is accelerating ESG management to achieve sustainable development and build smart and eco-friendly ports.

To provide port users with SOC infrastructure facilities at affordable costs, the Authority is promoting the construction of smart and automated ports and the expansion of the hinterland complex. It is also fully committed to detailed implementation tasks such as building carbon-neutral infrastructure to create eco-friendly ports.

The funds raised through this ESG bond will be used for the project to expand the port hinterland complex by acquiring the Sepung Industrial Complex. This project is expected to reduce the financial burden on small and medium-sized enterprises and create approximately 200 jobs.

Park Jeongcheol, Head of the Finance and Accounting Department, said, “The Authority plans to continue raising investment funds through ESG bonds in the future and will strive to become a model public enterprise leading ESG management.”