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Republic of Korea

Market Watch
Close of
September 18, 2019
Change From
Govt. Bond Yields Latest Yield Previous Day Previous Week YTD
2 Year 1.340 0.9 ▲ 5.0 49.5
5 Year 1.380 2.2 ▲ 5.8 51.2
10 Year 1.457 3.6 ▲ 5.5 49.9

* Government bond yield changes are expressed in basis points.

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Currencies Latest Rate Previous Day Previous Week YTD
KRW per USD 1,191.430 0.1 0.1 7.2
KRW per JPY 10.986 ▲ 0.2 ▲ 0.5 8.5

* Exchange rate changes are expressed as a percentage change.

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Interest Rates Latest Rate Previous Day Previous Week YTD
1D KORIBOR 1.480 ▲ 1.0     0.0 10.0
3M KORIBOR 1.490     0.0     0.0 41.0

* Interest rate changes are expressed in basis point change.

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Policy Rates
Change From
Policy Rates Latest Rate
(18-Jul-2019)
Previous Rate
(29-Nov-2018)
YTD
Rate
BOK Base Rate 1.500 25.0 25.0

* Policy rate changes are expressed in basis point change.

More details

Sovereign Ratings
Agency Rating Outlook Date
Regional Rating Institutions
R&I A+ stable 2016-07-25
RAM AA3 stable 2019-05-07
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
  • Breakdown of LCY 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 regionís 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
2019 Sep Jun Mar
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 1 June and 15 August, local currency (LCY) government bond yields in the Republic of Korea fell for all tenors. The decline in yields was more pronounced at the longer end of the curve resulting in a slight inversion of the Republic of Korea's yield curve. Yields fell during the review period due to heightened expectations of a rate cut by the Bank of Korea in its July monetary policy meeting and further rate cuts before the year ends.

Size and Composition

The size of the Republic of Korea's LCY bond market rose 2.4% quarter-on-quarter (q-o-q) to KRW2,332 trillion (USD2 trillion) at the end of June from KRW2,277 trillion at the end of March. The growth was led by both the government and corporate segments. The outstanding size of LCY government bond market expanded 1.7% q-o-q in the second quarter of 2019 to KRW946 trillion, largely driven by rise in central government bonds as the government continued with its frontloading policy in 2019. The LCY corporate bond market posted growth of 2.9% q-o-q to reach KRW1.4 trillion at the end of June, primarily due to higher issuance during the quarter as companies took advantage of declining interest rates.

Policy, Institutional and Regulatory Developments

In August, the National Assembly passed the 2019 supplementary budget to help boost the economy and improve public safety. The supplementary budget was KRW856.8 billion short of the KRW6.7 trillion budget submitted in April. In the same month, the Bank of Korea, Financial Services Commission, and Financial Supervisory Service held a meeting to discuss recent developments in financial markets and pledged cooperation to address any sudden volatility.

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