Government to Auction KRW 800 Billion Foreign Currency Bonds on the 23rd

Yonhap News

On the 16th, the Ministry of Economy and Finance announced that it will hold a bidding for 800 billion KRW worth of one-year maturity won-denominated Foreign Exchange Stabilization Fund Bonds on the 23rd.

The ministry stated, "Although the regular competitive bidding for won-denominated foreign exchange stabilization bonds was originally scheduled for the 24th, considering the designation of a temporary holiday on the 27th, the competitive bidding will be held one day earlier on the 23rd." The bidding date, method, and other details will be announced three days prior to the bidding date.

This will be the first issuance of won-denominated foreign exchange stabilization bonds in 22 years since 2003.

Starting with this issuance, the government plans to issue a total of 20 trillion KRW worth of won-denominated foreign exchange stabilization bonds this year, all with a one-year maturity. Considering the need to initially establish the market, 12% will be issued in the first quarter, and 40-45% in the first half of the year, respectively.

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