Motrex Issues 10 Billion KRW ESG Bonds... "Confirmed Potential for Eco-Friendly Mobility Business"

[Asia Economy Reporter Hyunseok Yoo] IVI specialist company Motrex announced on the 28th that it has issued ESG (Environmental, Social, and Governance) bonds as the first mid-sized company to do so.

On the 22nd, Motrex obtained a PASS rating for its ESG bonds from NICE Credit Rating. Accordingly, the company completed the issuance of 10 billion KRW in green bonds in the form of unsecured private bonds through KDB Industrial Bank on the 28th.

ESG bonds are bonds issued for the purpose of eco-friendly projects and socially responsible investments, categorized into ▲Green Bonds ▲Social Bonds ▲Sustainability Bonds. Green Bonds are issued to fund solutions for environmental issues such as climate change. Social Bonds are issued exclusively for public interest projects, and Sustainability Bonds combine the characteristics of both Green Bonds and Social Bonds.

A company representative stated, “Until now, Motrex has only equipped IVI products in internal combustion engine vehicles, but by securing projects for electric and hydrogen vehicles, we were able to enhance the potential of eco-friendly mobility business and successfully issue ESG bonds.” He added, “AVNT, which will be installed in autonomous electric vehicles, and HMI, currently under development for hydrogen electric trucks, are key projects representing Motrex’s growth momentum,” and expressed the aspiration that “sustained growth through these projects is expected.”

CEO Hyunhwan Lee said, “This ESG bond issuance is significant as it is the first issuance by a mid-sized company,” and added, “I believe this is a historic day as our business potential in eco-friendly mobility has been validated by an external evaluation agency.”