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By Choonsik Yoo and Jihoon Lee The government has said it wants to add its bonds to 60 FTSE
Russell World The government bond index (WGBI) was launched as early as this year, a move that could bring new foreign funds into domestic capital markets.
“As per the usual schedule below, it will be held in September next year, but the government will do its best to make it earlier than that,” Choo Kyung-ho told Reuters on the sidelines of the Asian Development Bank’s annual meeting in Incheon, South Korea.
Last September, FTSE Russell placed South Korea on a watch list for possible WGBI membership. 10025 Barclays
) indicates that South Korean bonds are expected Will join WGBI and estimate some $ Passive flow of billions in several quarters.
Choo also said that he did not Reviving a currency swap arrangement with Japan was not discussed, although he hopes to expand economic cooperation with Tokyo as diplomatic relations improve.
South Korea and Japan’s previous bilateral foreign exchange swap agreement expired and was not renewed due to diplomatic tensions between the two Asian economic powerhouses.
Choo said he still thinks growth in Asia’s fourth-largest economy will pick up in the second half of the year, despite the central bank’s recent warning that the overall economy Growth this year will be weaker than earlier forecast.
He said that the country’s exports to China A combination of factors, including Beijing’s efforts to drive economic recovery through domestic consumption, has shifted the focus to local production rather than imported goods.
He declined to say how quickly he expected the country’s trade balance with China to return to surplus, but said the government would give everything to its export sector available support.