The Ministry of Strategy and Finance of the Republic of Korea will hold an investor relations (IR) session to provide up-to-date information on recent developments and regulatory changes in the Korean treasury bond (KTB) market on 16 September.
Policy measures have been taken by Korean government in order to facilitate the flow of foreign investment in the Korean bond market. The measures include non-taxation tax exemption on interest income and capital gains from investment in Korean treasury bonds (KTBs) by non-residents or foreign corporations, and the permission granted to open an omnibus account at KSD by the International Central Securities Depository (ICSD) such as Euroclear Bank and Clearstream Banking with the introduction of a qualified foreign intermediary system in Korea.
Currently, in the case where a foreign investor would like to invest in KTBs, the foreign investor needs to designate a local custodian located in Korea and it is a prerequisite to get its Investment Registration Certificate (IRC) in advance. However, investing in KTBs through a different channel by using an omnibus account means that foreign investors no longer need to meet such requirements any more.
It is expected that foreign investment will become more active due to the recent changes on rules and regulations for KTB market in Korea, and it will also have a positive influence on entering the Citigroup World Government Bond Index (WGBI).
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