30 June 2020
Brussels, 30 June 2020 – For immediate release
Commenting on this development, Luca Bertalot, Covered Bond Label Foundation Administrator, said:
“We are delighted to welcome Kookmin Bank to the Covered Bond Label family and are very pleased to see the coverage of the Label extending further in Asia, reflecting the continuous development of the covered bond market in that region. This addition demonstrates the global commitment of covered bond market participants to transparency through the implementation of the Label’s Harmonised Transparency Template (HTT).”
Minhyuk Kang, General Manager of Kookmin Bank, said:
“It is our great pleasure to join the Covered Bond Label as the first participating bank in South Korea. Kookmin Bank has always been a pioneer in the market, issuing the first covered bonds in the domestic market since the Korean Covered Bond Act was enacted in April 2014. We sincerely hope to play an important role in the Asian covered bond market as a frequent covered bond issuer and we are very proud to be part of this initiative to increase the transparency of the covered bond market and boost the confidence of investors.”
The Covered Bond Label is a quality label, the purpose of which is to highlight the security and quality of covered bonds to investors and to further enhance recognition of and trust in the covered bond asset class.
The Covered Bond Label is open to all covered bond programmes that are compliant with the Covered Bond Label Convention and disclose their data by publishing the Harmonised Transparency Template (HTT). More information on all labelled issuers and the Label itself can be found on the Covered Bond Label website at www.coveredbondlabel.com.