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Republic of Korea

Market Watch
Close of
October 12, 2018
Change From
Govt. Bond Yields Latest Yield Previous Day Previous Week YTD
2 Year 1.984 ▲ 2.3 1.5 9.8
5 Year 2.230 ▲ 3.0 3.5 11.7
10 Year 2.400 ▲ 3.5 4.5 6.7

* Government bond yield changes are expressed in basis points.

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Currencies Latest Rate Previous Day Previous Week YTD
KRW per USD 1,131.270 ▲ 1.1 0.1 6.0
KRW per JPY 10.082 ▲ 1.2 1.4 6.4

* Exchange rate changes are expressed as a percentage change.

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Interest Rates Latest Rate Previous Day Previous Week YTD
1D KORIBOR 1.520     0.0 ▲ 12.0 2.0
3M KORIBOR 1.730     0.0 ▲ 1.0 ▲ 3.0

* Interest rate changes are expressed in basis point change.

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Policy Rates
Change From
Policy Rates Latest Rate
Previous Rate
BOK Base Rate 1.500     0.0     0.0

* Policy rate changes are expressed in basis point change.

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Sovereign Ratings
Agency Rating Outlook Date
Regional Rating Institutions
R&I A+ stable 2016-07-25
RAM AA stable 2017-07-27
Non-Regional Rating Institutions
Fitch AA- stable 2016-10-20
S&P AA stable 2017-08-18

More details

  • Size of LCY Bond Market
  • Size of LCY Bond Market in % of GDP
  • Monthly Bonds Outstanding in USD
  • FCY Bonds Outstanding
  • Issuance Volume of LCY Bond Market
  • Breakdown of LCY Government Bond Market Issuance
  • G3 Currency Bond Issuance
  • Government Securities Maturity Profile - LCY
  • Corporate Securities Maturity Profile - LCY
  • Investor Profile - Government Bonds
  • Foreign Holdings in LCY Government Bonds
  • Foreign Bond Flows
  • Trading Volume
  • Bonds Turnover Ratio
  • Interest Rate Spread - 2yrs vs 10yrs - LCY Bond
  • Yield Volatility - 10yr LCY Bonds
  • Credit Spread - LCY Corp. Bonds vs Govt. Bonds
  • iBoxx ABF Index Family
  • Bid-Ask Spreads (Survey data)
  • Government Bond Market Structural Issues
  • Corporate Bond Market Structural Issues

ASEAN+3 Bond Market Guide

ASEAN+3 Bond Market Guide 2018: Republic of Korea

ASEAN+3 Bond Market Guide is a comprehensive explanation of the region’s bond markets. It provides information such as the history, legal and regulatory framework, specific characteristics of the market, trading and transaction (including settlement systems), and other relevant information. The ASEAN+3 Bond Market Guide 2018 Republic of Korea is an outcome of the strong support and kind contributions of ASEAN+3 Bond Market Forum members and experts, particularly from the Republic of Korea.

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2018 Sep Jun Mar
2017 Nov Sep Jun Mar
2016 Nov Sep Jun Mar
2015 Nov Sep Jun Mar
2014 Nov Sep Jun Mar
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2012 Nov Sep Apr
2011 Nov Sep Mar
2010 Nov Oct Jul Mar
2009 Nov Sep

Market Summary

Yield Movements

Between 1 June and 15 August, local currency (LCY) government bond yields in the Republic of Korea fell for all tenors except the 3-month tenor, which was barely changed. Yields fell during the review period due to increased market expectations that the Bank of Korea would not raise its base rate this year. Recent domestic and global developments have weighed on the Republic of Korea’s economic growth prospects, further contributing to speculation that the Bank of Korea will maintain its current monetary policy.

Size and Composition

The Republic of Korea’s LCY bond market expanded to reach a size of KRW2,221 trillion (USD1,993 billion) at end June on 1.6% quarter-on-quarter (q-o-q) growth. The growth was driven by both its government and corporate bond segments. The Republic of Korea’s LCY government bond market rose 2.4% q-o-q in Q2 2018 to reach a size of KRW937 trillion; while its corporate bond market inched up 1.0% q-o-q to reach a size of KRW1,284 trillion at the end of June.

Policy, Institutional and Regulatory Developments

In July, the Ministry of Economy and Finance released its assessment of economic policies implemented in the first half of 2018 and the planned program for the second half. The Ministry of Economy and Finance reiterated its focus on consumption as a driver of growth through improved employment, wages, and innovation. For the remainder of the year, policies will continue to focus on creating new jobs and improving (and working on passage of) new regulations promoting innovation.

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