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KT to float 300 bln won in debt for ESG projects

All News 15:32 May 31, 2021

SEOUL, May 31 (Yonhap) -- KT Corp., a South Korean telecom giant, said Monday it will issue corporate bonds worth up to 300 billion won (US$264.8 million) next month in a move to fund environmentally friendly business projects.

KT said in a statement that it plans to issue 120 billion won worth of ESG (environmental, social and governance) bonds on June 10 and that it will finalize the exact amount of the debt to be floated by Thursday.

The telecom giant said it will use the proceeds from the debt sale in environmentally friendly projects, which could include investment in improving energy efficiency at its internet data centers and the development of environmentally friendly real estate.

The telecom operator has stepped up its commitment to ESG in recent years, establishing a sustainability management committee in 2016.

This file image provided by KT Corp. shows its logo. (PHOTO NOT FOR SALE) (Yonhap)

yunhwanchae@yna.co.kr
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