Bank Adds Corporate Bonds
The Korea Development Bank said Friday that it will purchase an additional 400 billion won ($307 million) of corporate bonds this year. A large amount of the bonds will mature in the latter half of the year, and a considerable portion of them are rated BBB- by credit rating organizations when issued, the state-owned bank explained. Although BBB- is an appropriate investment rating, the market does not look upon it favorably, a bank official said."We initially planned to buy 2.5 trillion won of corporate bonds," said Jung Keun-yong, the governor of the bank, "but decided to increase the amount to 2.9 trillion won considering the dire situations of the corporate market."
with the Korea JoongAng Daily
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