Korea will closely monitor its government bond market as long-term yields rise in major economies, Finance Minister Koo Yun-cheol said Friday. He said the government will watch issuance and trading conditions and try to minimize borrowing costs for businesses and households. Koo also said the won traded at the 1,300 level against the dollar this week for the first time in 11 months, while warning of exchange-rate volatility.
Finance Minister Koo Yun-cheol, who serves concurrently as deputy prime minister for economic affairs, speaks during a meeting to check financial markets at the Hall of Banks in Seoul, Friday. Yonhap
Korea will closely monitor its government bond market amid rising long-term yields in major economies and heightened economic uncertainties, the finance minister said Friday.
"Amid increased fiscal spending and uncertainties stemming from the Middle East, long-term government bond yields in major economies, including the United States, Japan and those in Europe, are rising to their highest levels in decades," Finance Minister Koo Yun-cheol said during a meeting with financial officials.
The meeting was also attended by Financial Services Commission Chairman Lee Eog-weon, Financial Supervisory Service Gov. Lee Chan-jin, and Bank of Korea Deputy Governor Park Jong-woo.
