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Republic of Korea

Market Watch
Close of
February 14, 2019
Change From
Govt. Bond Yields Latest Yield Previous Day Previous Week YTD
2 Year 1.800 0.7 0.2 3.5
5 Year 1.855 1.2 1.9 3.7
10 Year 1.980 1.0 1.2 ▲ 2.4

* Government bond yield changes are expressed in basis points.

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Currencies Latest Rate Previous Day Previous Week YTD
KRW per USD 1,125.250 0.3 0.1 1.3
KRW per JPY 10.185 0.8 ▲ 0.5 0.6

* Exchange rate changes are expressed as a percentage change.

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Interest Rates Latest Rate Previous Day Previous Week YTD
1D KORIBOR 1.690 10.0 ▲ 2.0 ▲ 11.0
3M KORIBOR 1.860     0.0     0.0 4.0

* 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 1.750 ▲ 25.0     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

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  • 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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* Download previous issues PDF
2018 Nov Sep 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 31 August and 15 October, local currency government (LCY) bond yields in the Republic of Korea rose for all tenors, averaging an increase of 10 basis points. The rise in yields toward the end of the review period, on expectations of a policy rate hike by the Bank of Korea, reversed the downward trend in place since May. Yields had fallen since May as the market no longer expected the Bank of Korea to change its monetary policy stance given the possibility of an economic slowdown and subdued inflation. Yields rose further in early October due to the sharp rise in United States (US) Treasury yields.

Size and Composition

The Republic of Korea’s LCY bond market size was barely changed in the third quarter of 2018, marginally up 0.1% quarter-on-quarter (q-o-q) to KRW2,224 trillion (USD2.0 trillion) at the end of September from KRW2,221 trillion at the end of June. The minimal growth was solely driven by the corporate bond segment, which posted an increase of 0.9% q-o-q to reach a size of KRW1.3 trillion, while the government bond market declined 0.9% q-o-q to KRW928 trillion.

Policy, Institutional and Regulatory Developments

In October, the Government of the Republic of Korea announced measures to promote investment and boost employment, noting the slowdown in growth as investment and employment continued to be weak. To help economic growth regain momentum, the government plans to promote private sector investment, increase public investment, pursue innovation-driven growth, and support the job market.

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