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Hybrid bonds classified as equity as of December 31, 2025 and 2024 are as follows:
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Type |
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Annual
interest
rate(%)(*2) |
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| Series 3 hybrid bonds |
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Unsecured subordinated bearer bond |
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June 5,
2023 |
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June 5,
2083 |
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4.95 |
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₩ |
400,000 |
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400,000 |
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| Issuance costs |
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(1,491 |
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(1,491 |
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₩ |
398,509 |
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398,509 |
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| As the Parent Company has no contractual obligation to deliver cash or other financial assets to the holders of its hybrid bonds, the instruments are classified as equity. In the event of liquidation or bankruptcy, the hybrid bonds rank senior only to common shares.
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(*1) |
The Parent Company has the right to extend the maturity at its discretion without providing any prior notice or announcement. |
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(*2) |
The annual interest rate is determined as yield rate of a 5-year national bond plus a premium. According to the step-up clause, an additional premium of 0.25% and 0.75% is applied after 10 years and 25 years, respectively, from the issuance date. |
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