Environment ministry to honor green-finance lenders and small firms at Seoul event

The environment ministry said it will hold a meeting with companies participating in a green asset-backed securities program and present awards to financial institutions and smaller firms that contributed to expanding green investment.

The ministry and the Korea Environmental Industry and Technology Institute will host the gathering and awards ceremony on Nov. 5 at the Glad Hotel in Yeongdeungpo District, western Seoul. About 20 people from issuing institutions and partner organizations are expected to attend the 10 a.m. to 11 a.m. meeting.

Participants will review the program's performance and share how small and medium-sized companies have used it, then discuss ways to help such companies pursue green and transition investments based on the Korean green taxonomy and gather feedback on difficulties and possible improvements.

The securities combine asset-backed securitization, which strengthens the credit of corporate bonds issued by small and medium-sized companies, with the Korean green taxonomy.

Woori Bank and Korea South-East Power will receive the environment minister's award for issuing green bonds that apply the Korean green taxonomy. Taesol E&G, Bukyung Metal and House Sara will receive the institute president's award for their participation in issuing green asset-backed securities. Seven people will also receive commendations for their contributions to spreading green investment, including staff from the Korea Credit Guarantee Fund, Korea Ratings, the Korea Technology Finance Corporation, Korea Venture Investment, Korail and Xianentech.

"Our ministry is supporting companies' green investments through programs that back the issuance of Korean-style green bonds and green asset-backed securities," said Oh Il-young, head of the ministry's climate and energy policy office. "As the active participation and efforts of companies and financial institutions are leading to results in green finance, we will continue to communicate closely with the field and build an investment ecosystem that supports the industrial sector's green transition."