Choi Sang-mok Discusses Actual Inclusion Cooperation in November WGBI with Euroclear CEO

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Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok discussed cooperation measures for the actual inclusion of the Korean government bonds in the World Government Bond Index (WGBI) in November with Peter Snayers, CEO of Euroclear Bank, on the 27th, the Ministry of Economy and Finance announced.

During the video conference, Deputy Prime Minister Choi explained the improvements in systems related to government bond investment across finance, foreign exchange, and taxation since the decision to include Korea in the WGBI last October. He particularly emphasized the comprehensive simplification of the documents and procedures required for tax exemption applications on government bonds for overseas investors, explaining that by utilizing the guidelines distributed by the government through the Korea Securities Depository on that day, foreign investors can now invest in Korean government bonds in the same manner as in major global markets.

Deputy Prime Minister Choi also noted that through collaboration with Euroclear, an International Central Securities Depository (ICSD), Korea’s government bond investment infrastructure has rapidly advanced to a global standard, and requested continued active support. In response, CEO Snayers expressed that global investors view the Korean government’s efforts to improve bond investment systems very favorably.

He also forecasted that the final review results by the Financial Times Stock Exchange (FTSE) for WGBI inclusion, scheduled for the 8th of next month, would be positive. Furthermore, he promised to actively collaborate with global investment institutions to support the prompt commencement of actual Korean government bond investments.

A government official stated, "Until Korea’s actual inclusion in the WGBI in November, we plan to maintain close communication with global investors to review and supplement system improvements, continuing efforts to create an investment environment that ensures smooth investment by global investors in Korean government bonds."

This content was produced with the assistance of AI translation services.