Seoul:The finance minister announced South Korea's consideration of further reducing Treasury bond issuance if deemed necessary, emphasizing the government's commitment to monitoring the market closely.
According to Yonhap News Agency, Finance Minister Lee Hyoung-il's statement followed South Korea's decision to decrease Treasury bond issuance by 5 trillion won (US$3.64 billion) in October. The government also promised to implement stabilization measures, such as emergency bond buybacks, if required.
Lee addressed this issue during a meeting with Bank of Korea Governor Shin Hyun-song, Financial Services Commission Chairman Lee Eog-weon, Financial Supervisory Service Governor Lee Chan-jin, and Land Minister Hong Jee-sun. This meeting was notable as it was the first of its kind since Lee assumed office last month.
Minister Lee warned that persistent high interest rates could increase refinancing burdens for businesses with lower credit ratings. The government plans to continue monitoring the bond market in cooperation with relevant agencies.
Additionally, Lee highlighted the importance of monitoring the property market closely. He noted that while apartment price growth in Seoul has slowed for five consecutive weeks, housing prices outside the affluent Gangnam area are still rising.
Lee also emphasized ongoing efforts toward the internationalization of the Korean won, with plans to announce steps to ease related regulations shortly.