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Republic of Korea

Market Watch
Close of
January 22, 2021
Change From
Govt. Bond Yields Latest Yield Previous Day Previous Week YTD
2 Year 0.890 ▲ 2.0 ▲ 2.8 ▲ 0.5
5 Year 1.325 ▲ 4.0 ▲ 1.5 1.0
10 Year 1.755 ▲ 5.3 ▲ 2.5 ▲ 3.3

* Government bond yield changes are expressed in basis points.

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Currencies Latest Rate Previous Day Previous Week YTD
KRW per USD 1,103.240 0.5 0.3 1.5
KRW per JPY 10.631 0.2 0.4 1.0

* Exchange rate changes are expressed as a percentage change.

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Interest Rates Latest Rate Previous Day Previous Week YTD
1D KORIBOR 0.420     0.0 11.0 17.0
3M KORIBOR 0.740 ▲ 1.0     0.0 77.0

* 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 0.500     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 AA- stable 2020-03-17
RAM AA3 stable 2019-05-07
Non-Regional Rating Institutions
Fitch AA- stable 2020-10-06
S&P AA stable 2020-04-21

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
  • Bid-Ask Spreads (Survey data)
  • Government Bond Market Structural Issues
  • Corporate Bond Market Structural Issues

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. View Report

* Download previous issues PDF
2020 Nov Sep Jun Mar
2019 Nov 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 31 August and 30 October, the Republic of Korea's local currency (LCY) government bond yield curve barely moved. Government bond yields remained range-bound during the review period, with yield changes almost negligible. Yields at the shorter-end were almost unchanged amid expectations of the Bank of Korea maintaining the base rate in its October monetary policy meeting. Meanwhile, yield movements in the rest of the curve were minimal given continued supply-demand imbalances in the government bond market and uncertainties in the economic policy measures of major developing economies.

Size and Composition

The size of the Republic of Korea's LCY bond market inched up 1.9% quarter-on-quarter (q-o-q) to KRW2,602.1 trillion (USD2,223.7 billion) at the end of September. The marginal growth was lower than the 3.1% q-o-q growth posted in the second quarter of 2020. Growth for the quarter continued to be mainly driven by the government sector which increased 3.0% q-o-q, while the corporate segment rose at a slower pace of 1.1% q-o-q. Compared with the same period in 2019, the Republic of Korea's domestic bond market rose 9.8% year-on-year, almost at par with the 9.5% year-on-year increase posted in the previous quarter.

Policy, Institutional and Regulatory Developments

On 22 September, the National Assembly passed the fourth supplementary budget of 2020 worth KRW7.8 trillion. This brings the aggregate amount of all four supplementary budgets to KRW62.2 trillion. The budget is expected to fund additional COVID-19 relief programs to support small businesses and low-income households.

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