Tunis:Sales of bonds and certificates of deposits (CDs) in South Korea increased by more than 11 percent in the third quarter of this year compared to the same period last year, data revealed on Tuesday.
According to Yonhap News Agency, the total value of debt instruments issued during the third quarter reached 178.3 trillion won (US$134 billion), marking an 11.1 percent rise from the previous year. Specifically, bond sales surged 13.8 percent year-on-year to 166.4 trillion won, while CD issuance decreased by 16.8 percent to 11.9 trillion won.
Despite the annual increase, the sales of bonds and CDs saw a 1.9 percent decline compared to the previous quarter. In the same period, the Bank of Korea raised its key interest rate to 3 percent across two successive meetings in July and August, representing the first consecutive rate hikes since January 2023.