January 16, 2020
|Govt. Bond Yields||Latest Yield||Previous Day||Previous Week||YTD|
|2 Year||1.415||▲ 3.0||▲ 1.5||▲ 5.0|
|5 Year||1.535||▲ 3.0||▲ 1.0||▲ 6.5|
|10 Year||1.705||▲ 0.9||▲ 2.0||▲ 3.3|
* Government bond yield changes are expressed in basis points.
|Currencies||Latest Rate||Previous Day||Previous Week||YTD|
|KRW per USD||1,161.320||▼ 0.4||▼ 0.2||▼ 0.5|
|KRW per JPY||10.542||▼ 0.1||▲ 0.4||▲ 0.9|
* Exchange rate changes are expressed as a percentage change.
|Interest Rates||Latest Rate||Previous Day||Previous Week||YTD|
|1D KORIBOR||1.160||0.0||0.0||▼ 7.0|
|3M KORIBOR||1.440||0.0||▼ 2.0||▼ 46.0|
* Interest rate changes are expressed in basis point change.
|Policy Rates||Latest Rate
|BOK Base Rate||1.250||0.0||▼ 50.0|
* Policy rate changes are expressed in basis point change.
|Regional Rating Institutions|
|Non-Regional Rating Institutions|
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.
|* Download previous issues PDF|
Between 31 August and 15 October, local currency (LCY) government bond yields in the Republic of Korea rose for all tenors except the 3-month paper. The rise in yields was more pronounced at the longer end of the curve, with the yields of 10-year to 50-year securities up 21 bps on average. Yields rose during the review period as domestic bond yields tracked United States (US) Treasury yield movements, on positive news about trade talks between the Peopleís Republic of China (PRC) and the US. Market participants also took profits as the expected rate cut by the Bank of Korea on 16 October had already been priced in and on expectations of a pause in monetary easing for the year.
The Republic of Koreaís LCY bond market posted growth of 2.0% quarter-on-quarter (q-o-q) to reach KRW2,378.2 trillion (USD1,987.9 billion) at the end of September. The growth was primarily driven by the 2.3% q-o-q rise in corporate bonds in Q3 2019 to reach KRW1.4 trillion on new issuance that remained relatively high. Meanwhile, the government bond segment rose at a slower pace of 1.6% q-o-q, largely driven by the 2.3% q-o-q rise in the stock of central government bonds.
On 29 August, the Government of the Republic of Korea submitted its 2020 budget totaling KRW513.5 trillion for approval. The planned budget entails a 9.3% increase in government spending over 2019 levels and is focused on helping boost the economy and promoting innovation. The main policies of the 2020 budget include increased spending for research and development; support for exports, investment, and consumption; strengthened social safety nets; improved quality of life; and strengthened national defense and diplomacy.
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