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Price of Korean Bonds Rising

Jan 20,1999
The price of bonds issued by the Korean government and financial institutions is rising on the strength of Fitch IBCA's, Europe's dominant credit rating agency, raising of Korea's long-term foreign currency rating.
According to the Ministry of Finance and Economy on January 20, the spread yield for the foreign-exchange stabilization fund bond(five-year due) issued by the Korean government recorded a yield of U.S. Treasury Bonds(TB) plus 2.6 percentage points, the lowest level since its issuance.
The spread yield of bonds (due in 8 years) issued by the Korea Development Bank also fell sharply by 1.15 percentage points from the previous day. This level is also the lowest since Korea entered under the management of the IMF.
Affiliates in the finance industry feel that 'as the credit rating for Korea is enhanced, investment into Korea will be revitalized henceforth.'


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