South Korea-based JB Financial Group Co. Ltd.'s board approved a plan to raise up to 300 billion won from a domestic hybrid securities offering.

The write-down contingent capital securities will be issued as perpetual bonds callable after five years.

The issue size, issuance date and coupon will be determined at a later date based on bookbuilding results.

As of March 13, US$1 was equivalent to 1,130.75 South Korean won.