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Republic of Korea

Market Watch
Close of
September 12, 2019
Change From
Govt. Bond Yields Latest Yield Previous Day Previous Week YTD
2 Year 1.290     0.0 ▲ 1.5 54.5
5 Year 1.322     0.0 ▲ 0.2 57.0
10 Year 1.402     0.0 ▲ 3.7 55.4

* Government bond yield changes are expressed in basis points.

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Currencies Latest Rate Previous Day Previous Week YTD
KRW per USD 1,186.640 ▲ 0.4 ▲ 1.1 6.8
KRW per JPY 10.977 ▲ 0.6 ▲ 2.2 8.4

* Exchange rate changes are expressed as a percentage change.

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Interest Rates Latest Rate Previous Day Previous Week YTD
1D KORIBOR 1.480     0.0 ▲ 15.0 10.0
3M KORIBOR 1.490     0.0 ▲ 2.0 41.0

* 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 25.0 25.0

* 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 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 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 March and 8 May, local currency (LCY) government bond yields in the Republic of Korea fell for all tenors, resulting in the entire yield curve shifting downward. Yields for short-term tenors fell 3 basis points (bps) on average, while yields for maturities of between 2 years and 50 years declined an average of 12 bps. The largest decline in yields was noted for the 20-year and 30-year maturities, which fell 15 bps each. The spread for the 2-year and 10-year tenors slipped to 15 bps on 8 May from 16 bps on 1 March.

Size and Composition

The Republic of Korea's LCY bond market grew 1.8% q-o-q in Q1 2019 with outstanding bonds amounting to KRW2,278.7 trillion (USD2.0 trillion) at the end of March on account of increases in the stocks of central government bonds and corporate bonds. Government bond market grew 1.9% q-o-q in Q1 2019 to reach KRW930.9 trillion at the end of March. The outstanding amount of LCY corporate bonds increased 1.8% q-o-q to reach KRW1,347.8 trillion at the end of March.

Policy, Institutional and Regulatory Developments

Effective 3 June, the Government of the Republic of Korea will cut taxes on stock transactions to support the secondary market for venture firms and promote venture capital. The trading tax for stocks listed on the Korea Composite Stock Price Index and Korea Securities Dealers Automated Quotation markets will be reduced by 0.05 percentage points each, for unlisted stocks by 0.05 percentage points, and for Korean New Exchange stocks by 0.2 percentage points to promote venture capital. A special tax for rural development of 0.15%, levied on Korea Composite Stock Price Index transactions, will remain unchanged.

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