South Korean Finance Minister Concerned About Rising Global Bond Yields

The South Korean Finance Minister stated that as long-term yields in major economies rise and economic uncertainty increases, South Korea will closely monitor the government bond market. He pointed out that increased fiscal spending and uncertainties arising from the Middle East have led to long-term government bond yields in the United States, Japan, and Europe reaching their highest levels in decades. The government will monitor the issuance and trading conditions of the bond market and strive to reduce financing costs for businesses and households. Additionally, the exchange rate of the Korean won against the US dollar fell below 1300 for the first time this week, after briefly dropping to around 1550 in early July, primarily due to South Korea's record current account surplus. However, considering the geopolitical tensions in the Middle East and the monetary policies of major economies, the exchange rate faces both upward and downward risks, and the government will remain vigilant and respond to market fluctuations.

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