Korea’s Ocean Business Corp to issue blue bonds

In Korea, Korea Ocean Business Corporation secured official certification from global accreditation body DNV for its newly established Sustainable Finance Framework, aiming to issue approximately $300 million in blue bonds by mid-2025 to fund eco-friendly maritime projects, the organization announced on March 4.

Designed in compliance with internationally recognized principles, KOBC’s framework sets financing standards for ESG-aligned projects, supporting investments in zero-carbon fuel ships—such as those powered by ammonia and methanol—alongside port infrastructure for alternative fuels and offshore wind installation vessels.

“The establishment of this framework and the DNV certification mark a key step in the green transition of Korea’s shipping industry,” a KOBC representative stated.

Unlike green bonds, which fund a broad range of environmental initiatives, blue bonds specifically target marine conservation and sustainable shipping efforts. KOBC expects the issuance to attract ESG-focused global investors while facilitating capital flows into low-carbon maritime solutions.

This financing initiative aligns with international shipping’s decarbonization targets and marine environmental protection goals, potentially elevating KOBC’s standing in the global capital market. The corporation also plans to strengthen investor relations to ensure a successful bond issuance while channeling funds into sustainability-driven projects.

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