Seoul - In a significant move towards reinforcing defense cooperation, the foreign ministers of South Korea and Indonesia have concurred on continuing their collaborative efforts on the KF-21 fighter jet project, despite recent financial and technical hurdles. The reaffirmation came during a bilateral meeting on the sidelines of the third Summit for Democracy in Seoul, as confirmed by Seoul's foreign ministry.
According to Yonhap News Agency, Foreign Minister Cho Tae-yul and his Indonesian counterpart, Retno Marsudi, engaged in discussions that underscored Indonesia's role in the joint fighter jet development. Indonesia has pledged to finance approximately 20% of the 8.1 trillion won project, which aims to develop and manufacture the advanced KF-21 aircraft by 2026. However, payment delays from Jakarta have posed challenges, with Indonesia falling nearly 1 trillion won behind its committed contributions. Additionally, the bilateral talks touched upon a recent security breach involving an Indonesian engineer accused of attempting to misappropriate project-related technologies.
During the meeting, Minister Cho also extended his condolences for the recent tragedy involving the capsizing of an Indonesian fishing vessel, reflecting the multifaceted nature of the bilateral engagement.
Seoul - The latest financial metrics have revealed a notable fluctuation in South Korea's bond yields as of March 18, 2024. These shifts are significant for investors and economists tracking the country's economic indicators.According to Yonhap News Agency, there has been a slight increase in the yields across various Treasury bonds (TB) and monetary securities. The one-year Treasury bond yield edged up by 0.6 basis points, closing at 3.357%, while the two-year Treasury bond experienced a 3.2 basis points rise, settling at 3.413%. Additionally, the three-year Treasury bond yield saw an increase of 4.0 basis points, ending at 3.348%. In a longer-term perspective, the ten-year Treasury bond yield also ascended by 2.5 basis points, reaching 3.435%.
Moreover, the financial report highlighted changes in other financial instruments. The two-year Monetary Stabilization Bond (MSB) yield rose by 3.3 basis points to 3.420%, and the three-year Corporate Bond (CB) rated AA- increased by 4.0 basis points to 3.993%. Notably, the 91-day Certificate of Deposit (CD) rate remained stable, showing no change from the previous session at 3.640%.