An Arirang bond is a won-denominated

bond Bond or bonds may refer to: Common meanings * Bond (finance), a type of debt security * Bail bond, a commercial third-party guarantor of surety bonds in the United States * Chemical bond, the attraction of atoms, ions or molecules to form chemica ...

issued by a foreign entity in

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korean Peninsula and sharing a land border with North Korea. Its western border is formed by the Yellow Sea, while its eas ...

. The name refers to "

Arirang "Arirang" (; ) is a Korean folk song. There are about 3,600 variations of 60 different versions of the song, all of which include a refrain similar to "''Arirang, arirang, arariyo'' ()". It is estimated the song is more than 600 years old. ...

," a Korean folk song. The market for Arirang bonds is extremely small, constituting less than 0.2% of corporate bond issuance in South Korea. The

Asian Development Bank The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. The bank also maintains 31 field offic ...

was the first to issue Arirang bonds, with a 1995 issue of ₩80 billion worth of seven-year bonds.

References

Bonds in foreign currencies Finance in South Korea {{SouthKorea-stub