South Korea's ESG bond market reached KRW 47.2 trillion — equivalent to approximately USD 34.3 billion — in total issuance during 2024, a 12.2% increase on the prior year, according to data from Korea Investors Service.
The growth in volume came alongside a contraction in the number of issuers. At 91 entities, the count of institutions bringing ESG bonds to market in 2024 was down from the market's peak of 154 issuers in 2021.
KOREA DEVELOPMENT BANK
Korea Development Bank is South Korea's state-owned policy lender.
KDB's green bond proceeds are directed towards projects in renewable energy, energy efficiency, clean transportation, and other categories recognised under international green bond standards. The bank has said its issuance programme supports South Korea's national climate commitments and helps channel international capital towards the domestic low-carbon transition.
KB FINANCIAL
KB Financial Group has set a target of KRW 50 trillion in ESG products, investments, and loans by 2030.