Korea Ocean Business Corporation's (KOBC) first blue bond in 2025 demonstrated how capital markets can be mobilised for maritime decarbonisation in a hard-to-abate sector.

The government-owned entity, which operates financial services in the maritime port logistics industry, will use the proceeds of the $300 million bond for eco-friendly maritime projects such as clean and sustainable vessels, eco-friendly maritime infrastructure, and port infrastructure for alternative fuels.

These directly advance Korea's green shipping decarbonisation pathway while simultaneously supporting International Maritime Organization (IMO) decarbonisation targets, it says.

The bond framework is also structured to support scalability and repeat issuance, covering multiple green project types across maritime decarbonisation themes.

Judges praised the bond's alignment with industry standards, including the International Capital Market Association's (ICMA) Principles and Guidelines and United Nations Environment Programme Finance Initiative (UNEP FI)'s Sustainable Blue Economy Finance principles. This led the judges to praise the issuance's impact on enhancing transparency, investor confidence, and the long-term development of sustainable shipping and port infrastructure.