Bond issuance in South Korea up KRW4.7tr in March

Data from the Korea Financial Investment Association showed that bond issuance in South Korea came to KRW71.3tr (USD58.1bn) in March, up KRW4.7tr from the previous month. Data showed that this is due to increased state debt sales. Industry data showed that sales of government bonds jumped by KRW8.9tr to KRW28.9tr in March, with those of special bonds rising by KRW971bm to KRW1.7tr. The issuance of asset-backed securities grew by KRW1.7tr, while corporate bond sales dropped by KRW970bn. Foreign investors bought a net KRW15.7tr worth of South Korean bonds in March. As of end-March, the value of outstanding bonds in Asia's fourth-largest economy stood at KRW2,531tr, up KRW19.6tr from February.