KB Securities Ranks 1st Overall Among Top Government Bond Dealers in the Second Half of 2020

[Sejong=Asia Economy Reporter Kim Hyunjung] The Ministry of Economy and Finance announced on the 4th that it has selected five institutions?KB Securities, Cr?dit Agricole, NH Investment & Securities, Meritz Securities, and Kookmin Bank?as excellent government bond primary dealers (PDs) for the second half of 2020.

This selection result is based on the evaluation of the government bond primary dealers' fulfillment of obligations such as government bond underwriting, trading, and market making from July to December last year, in accordance with the 'Regulations on the Operation of Government Bond Primary Dealers.'

The five selected companies will receive commendations from the Deputy Prime Minister and will be granted the right to non-competitively underwrite 20% of the competitive bidding underwriting amount each month for the next six months (March to August). This right allows them to additionally underwrite government bonds at the winning bid rate determined at the time of bidding within three business days after each auction. The exercise ratio is differentially granted based on the semi-annual evaluation results: 20% for ranks 1 to 5, 15% for ranks 6 to 10, 10% for ranks 11 to 15, and 5% for ranks 16 to 17.

A Ministry of Economy and Finance official stated, "We will steadily implement follow-up measures to strengthen the government bond market, such as reforming the evaluation system focused on government bond underwriting and expanding financial support for the Public Fund. We also plan to continuously pursue institutional improvements to enhance the underwriting capabilities of government bond primary dealers through close communication with the market in the future."

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