South Korea's Finance Minister: Will pay close attention to the impact of rising global bond yields

Comparative news, according to Yonhap News Agency, South Korea's finance minister said on Friday that as long-term yields in major economies rise and economic uncertainty intensifies, South Korea will pay close attention to its treasury bond market. South Korea's finance minister stated during a meeting with financial officials: “Due to increased fiscal spending and the uncertainty brought about by the situation in the Middle East, long-term treasury yields in major economies, including the US, Japan, and Europe, have risen to the highest level in decades.” “The government will closely monitor the issuance and trading of treasury bonds and work to reduce financing costs for businesses and households,” he said.

Furthermore, he also mentioned that the exchange rate of the won against the US dollar fell to 1,300 for the first time this week, and previously fell to around 1550 in early July, and this trend was due to South Korea's record current account surplus. However, he added that given the geopolitical tension in the Middle East region and the monetary policies of major economies, the exchange rate faces both positive and negative risks. “The government will remain alert and respond to market fluctuations.”