Korea Ratings

What Korea Ratings does

Korea Ratings (한국기업평가, KOSDAQ: A034950) is Korea's first and oldest domestic credit rating agency, founded in 1983 and headquartered in Seoul's Yeouido financial district. The company provides independent credit risk assessments for corporate bonds, commercial paper, electronic short-term bonds, structured finance instruments (ABS, ABCP, RMBS, CMBS), and insurance company payment capability. It also delivers ESG certification for green and sustainable bonds, corporate ESG evaluations, and investment valuation services including project finance, corporate finance, and energy/infrastructure assessments. Fitch Ratings, one of the three global credit rating agencies, is the largest shareholder, providing international methodological alignment.

The platform integrates core rating services with a tiered subscription data business: KR-Connect (full report access with up to 10 user IDs), KR-Data (rating data downloads and analytics), KR-SF (structured finance and securitization data), and KR-ESG Standard/Premium (ESG evaluation grades and reports). Sales and client relationships are managed through a Business Relationship Management (BRM) department organized into four industry verticals (Corporate 1, Corporate 2, Financial Center, Structured Finance Center), supplemented by a self-serve website platform. The company operates two wholly-owned subsidiaries—Ecredible (SME credit certification, acquired 2005 and separately KOSDAQ-listed in 2008) and Ecredible Networks (B2B payment platform, spun off 2012).

Revenue is generated from per-evaluation credit rating fees, recurring subscription revenue from the KR-prefixed paid membership tiers, individual report sales, investment valuation service fees, and subsidiary revenue (Ecredible SME certifications, Ecredible Networks B2B payments). The customer base spans financial institutions (banks, insurance, securities, cards, capital), Korean corporate bond issuers, government and public-sector entities, and infrastructure/energy sector participants. Distribution is primarily domestic (South Korea), channeled through direct enterprise sales, the korearatings.com self-serve platform, content marketing (research reports, seminars, webinars), and social channels (Telegram, YouTube).

Name

Korea Ratings

Legal name

한국기업평가(주)

Website

https://korearatings.com

Company type

Public

Founded year

1983

Operating status

Operating

Headcount range

101–250 employees

Short description

Korea Ratings (한국기업평가) is Korea's first domestic credit rating agency, founded in 1983 and KOSDAQ-listed, providing credit ratings for corporate bonds, structured finance, and ESG instruments, plus investment valuation services, to financial institutions, corporations, and government entities primarily in South Korea.

Ownership category

akta.pro rank

Product category

Credit Rating Services

akta.pro primary industry

ESG Data, Ratings & Climate Benchmarks (FSAFAIAI)

akta.pro secondary industries

Sustainable Finance & ESG Ratings/Benchmarking Support (EUAHAJAH), High-Yield Corporate Credit (FSAAAHAC), Investment-Grade Corporate Credit (FSAAAHAB), Investment Grade Corporate Bonds (FSACABAA), High Yield Corporate Bonds (FSACABAB), Stakeholder Engagement & ESG Governance (Policies, KPIs, incentives) (EUAHAJAJ)

Keywords

• Credit rating services
• Structured finance ratings
• ESG evaluation services
• Corporate bond ratings
• Investment evaluation

Headquarters

HQ city

Yongdungpo

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Credit Rating Services: Revenue from credit rating assessments for corporate bonds, commercial paper, structured finance products, and other financial instruments. Fees are charged per evaluation based on type and complexity of the assessment.
2. Paid Membership Subscriptions (KR-Connect, KR-Data, KR-SF, KR-ESG): Tiered membership model providing differentiated access to rating reports, financial data downloads, and research. KR-Connect offers full report access with up to 10 IDs; KR-Data provides data download capabilities; KR-SF focuses on structured finance; KR-ESG provides ESG evaluation services.
3. Individual Report Sales: Individual credit rating report sales for non-subscribers. BRM department handles report sales inquiries.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Korea Ratings is South Korea's oldest domestic credit rating agency, providing independent credit assessments for corporate bonds, commercial paper, electronic short-term bonds, and asset-backed securities. The firm also delivers ESG certification for green and social bonds, corporate ESG evaluations, structured finance ratings, and business viability/valuation services for project finance and corporate finance, distributed through a tiered subscription platform (KR-Connect, KR-Data, KR-SF, KR-ESG).

Product overview

Korea Ratings (한국기업평가) operates as a credit rating agency offering a platform-plus-services model. The core offering includes corporate credit ratings and ESG certification/evaluation services. The platform is organized into subscription tiers: KR-Connect (full report access), KR-Data (rating data downloads), KR-SF (securitization data), and KR-ESG (ESG evaluation grades and reports). Supporting services include corporate financial information databases, investment valuation (project finance, corporate finance, energy/infrastructure), real-time rating flash alerts, and research publications. The products work together as an integrated financial intelligence platform serving the Korean capital markets.

Differentiator

Problem solved

Functional benefit

Brands

• KR-Connect: Premium membership service providing full credit rating reports, paid research reports, unlimited corporate/financial information access
• KR-Data
• KR-SF
• KR-ESG Standard
• KR-ESG Premium

Products and services

• Credit Rating Services (신용평가) Corporate credit rating services covering corporate bonds, commercial paper, electronic short-term bonds, asset-backed securities, and various debt instruments for issuers and investors in Korean capital markets.
• ESG Certification (ESG 인증평가)

Quantifiable outcome

• Serving leading Korean corporations and financial institutions including major banks, securities firms, insurance companies, and government agencies

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Ecredible (이크레더블)coreChannel Partner/ Reseller/ Distributor · 1 January 2005Ecredible is Korea's largest SME-focused credit certification company, established in 2001. Acquired by Korea Ratings in 2005 and listed on KOSDAQ in October 2008. Provides electronic credit certificates (DNA), government/public institution bidding credit ratings (e-Rating), technology credit evaluations (TCB), and ESG evaluations. Expands market reach to SMEs and smaller enterprises.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Korea Enterprise Rating: Third licensed Korean domestic CRA, head-to-head competitor on corporate bond, CP, and structured finance ratings in the same regulatory framework.
• NICE Investors Service: Korea's other major domestic credit rating agency, directly competing with Korea Ratings across corporate, financial institution, and structured finance ratings using the same issuer-pays model for the same Korean institutional client base.

Regional players

• Japan Credit Rating Agency (JCR): Japan-based domestic CRA with comparable business model (corporate, structured finance, ESG evaluations); regional counterpart rather than direct domestic competitor in Korea.
• Rating and Investment Information (R&I): Japanese domestic credit rating agency with similar issuer-pays model and structured finance / ESG coverage; comparable in product mix but operating in Japan.

Broad incumbents

• Fitch Ratings: One of the three global CRAs and Korea Ratings' largest shareholder; comparable in core methodology but operates globally across all rated entities, whereas Korea Ratings specializes in Korea.
• Moody's Investors Service: Global CRA that increasingly rates Korean issuers and structured finance, competing with Korea Ratings' franchise for international investor appeal mandates.
• S&P Global Ratings: Global CRA offering parallel rating services to Korean corporates and financial institutions, competing on cross-border issuance and dual-rating mandates.
• DBRS Morningstar: Global CRA with structured finance and corporate bond coverage; comparable in rated product offerings and methodology, though not a Korea domestic specialist.

Emerging players

• MSCI ESG Ratings: Global ESG ratings provider competing with Korea Ratings' corporate ESG evaluation product for institutional investors' Korean ESG data needs.
• Sustainalytics: Global ESG and corporate governance ratings provider overlapping with Korea Ratings' KR-ESG evaluation services; competes for ESG mandates on Korean and Asian issuers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xt.me/korearatings
• YouTubeyoutube.com/channel/UC9zVHOe0nUZ8spEx3SCVI9w
• Facebookfacebook.com/profile.php

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Korea Ratings