|The headquarters of Mirae Asset Daewo in Seoul / Korea Times file|
By Kim Jae-kyoung
Mirae Asset Daewoo has been recognized for its social investment as one of its public bonds was selected as the "Best FIG (Financial Institutions Group) Bond" among Korean financial firms' overseas bonds at the 2019 Triple A Country Awards hosted by The Asset, the company said Tuesday.
The nation's leading brokerage said that the $600 million worth of dollar-denominated dual-tranche (three-year and five-year) public bonds it issued in April was chosen by the global financial magazine.
The one with a three-year maturity was the first-ever SRI (Social Responsibility Investment) bond issued by a securities firm, it said.
The Asset said the Korean brokerage has continued to offer investment opportunities for SRI bond investors contributing to the growth of the promising market.
The magazine added that it gave Mirae high marks for its efforts to diversify maturity structures and issue sustainable bonds and senior bonds at the same time for the first time among Korean firms.
"Following a successful debut in the global bond market in November 2018, Mirae Asset Daewoo has contributed to expanding the base for the SRI bond market by issuing the dual-tranche public bonds in April," an industry official said.
Funds raised through the issuance of SRI bonds are used to invest in socially responsible or eco-friendly companies with good social value.
Founded in 1999, The Asset, a professional financial magazine covering the entire Asian region, announces the best financial institutions and deals made in the Asia-Pacific region through the Triple A Awards.