Hyundai Card Dual-Currency Kimchi Bond
Analysis based on 7 articles · First reported Jun 18, 2026 · Last updated Jun 18, 2026
The issuance of dual-currency Kimchi bonds by Hyundai Card is expected to broaden funding channels and reduce currency-specific funding risks for the company. This move, along with regulatory easing by South Korea, is also encouraging other Korean companies like LG Electronics and Lotte Property & Development to enter the Kimchi bond market, suggesting a wider trend of funding diversification and increased foreign investment interest in South Korea's domestic bond market.
Hyundai Card, a leading Korean financial company, has become the first Korean non-bank lender to issue a dual-currency Kimchi bond, securing funds in both United States and China — Renminbi. This issuance, totaling approximately KRW 128.7 billion, is a green bond with proceeds earmarked for financial services supporting Hyundai Motor Company's eco-friendly mobility businesses. This follows Hyundai Card's earlier initiative in January to reopen the public Kimchi bond market after 15 years. The move is part of a broader strategy to diversify funding channels and investor bases amidst rising financial market volatility and increasing funding costs in South Korea. Regulatory easing by South Korea's foreign exchange authorities has also contributed to the resurgence of Kimchi bonds as a tool for securing foreign currency liquidity.
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