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Republic of Korea

Market Watch
Close of
September 19, 2018
Change From
Govt. Bond Yields Latest Yield Previous Day Previous Week YTD
2 Year 1.917 ▲ 2.5 ▲ 10.9 16.5
5 Year 2.185 ▲ 3.8 ▲ 12.5 16.2
10 Year 2.375 ▲ 4.0 ▲ 12.5 9.2

* Government bond yield changes are expressed in basis points.

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Currencies Latest Rate Previous Day Previous Week YTD
KRW per USD 1,120.780 ▲ 0.2 ▲ 0.7 5.0
KRW per JPY 9.982 ▲ 0.2 ▲ 1.6 5.4

* Exchange rate changes are expressed as a percentage change.

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Interest Rates Latest Rate Previous Day Previous Week YTD
1D KORIBOR 1.330 27.0 28.0 21.0
3M KORIBOR 1.670     0.0     0.0 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
  • 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 Jun Mar
2017 Nov Sep Jun Mar
2016 Nov Sep Jun Mar
2015 Nov Sep Jun Mar
2014 Nov Sep Jun Mar
2013 Nov Sep Jun Mar
2012 Nov Sep Apr
2011 Nov Sep Mar
2010 Nov Oct Jul Mar
2009 Nov Sep

Market Summary

Yield Movements

Between 1 March and 15 May, local currency (LCY) government bond yields in the Republic of Korea rose for all tenors, albeit marginally. Yields in the middle to longer-end of the curve showed a downward trend from 1 March through the middle of April as geopolitical tensions eased. A gradual rise in yields was observed from the middle of April, reversing the earlier downward trend. Upward pressure on yields stemmed from the sustained rise in United States (US) interest rates; and as uncertainty over the possibility and timing of a rate hike by the Bank of Korea remain.

Size and Composition

The Republic of Korea’s LCY bond market grew 1.4% quarter-on-quarter (q-o-q) in  the first quarter of 2018 to reach an outstanding size of KRW2,187 trillion (USD2,056 billion) at the end of March. The quarterly growth was solely driven by the Republic of Korea’s government bond market as the stock of corporate bonds fell. The Republic of Korea’s LCY government bond market posted robust growth of 3.7% q-o-q in the first quarter of 2018 with outstanding bonds amounting to KRW915 trillion. Meanwhile, LCY corporate bonds dipped slightly, falling 0.1% q-o-q to KRW1,271 trillion.

Policy, Institutional and Regulatory Developments

In April, the Government of the Republic of Korea drafted a KRW3.9 trillion supplementary budget proposal to fund programs to support young adult employment and the promotion of local economies. The government plans to finance the budget with KRW2.6 trillion from 2017 fiscal account surpluses and the remaining KRW1.3 trillion from public fund surpluses.

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