Hyundai Card Debuts Dual-Currency Kimchi Bond

Amidst rising financial market volatility, Hyundai Card has become the first Korean credit-specialized financial company to issue a dual-currency Kimchi bond, denominated in both U.S. dollars (USD) and Chinese yuan (CNY). This significant issuance occurred on June 17, 2026. This dual-currency structure, comprising a USD 20 million one-year note and a CNY 440 million two-year bond, aims to broaden Hyundai Card's funding channels and mitigate currency-specific risks.

The bond is also designated as a green bond, adhering to the Korean Green Taxonomy Guidelines. The raised funds will be allocated to financial services supporting Hyundai Motor Group's eco-friendly mobility businesses, such as electric vehicles (EVs) and fuel cell electric vehicles (FCEVs). This aligns with Hyundai Card's ongoing ESG financing strategy.

This issuance follows Hyundai Card's earlier success in January 2026, where it became the first Korean company in 15 years to resume public Kimchi bond issuance, effectively reopening the market. The company also issued an USD 80 million Kimchi bond in February 2026. These actions highlight a broader trend of funding diversification spreading across the Korean market.

Kimchi bonds, which are foreign currency-denominated bonds issued in Korea, offer Korean companies a means to secure foreign currency liquidity and diversify funding. Regulatory easing by Korean authorities has further increased their appeal, particularly for credit-specialized financial companies and blue-chip corporates seeking stable liquidity and enhanced funding competitiveness.