South Korean Finance Minister: Will closely monitor the rise in global bond yields and the impact of geopolitics on South Korea

According to Yonhap News Agency, South Korea's finance minister said that with the long-term yield of major economies rising and economic uncertainty intensifying, South Korea will pay close attention to the treasury bond market. The South Korean Finance Minister pointed out that the long-term treasury bond bond yields of the United States, Japan and Europe rose to the highest level in decades due to the increase in fiscal expenditure and the situation in the Middle East. The government will monitor the issuance and trading of treasury bond and reduce the financing costs of enterprises and households. The South Korean finance minister mentioned that the exchange rate of the Korean won against the US dollar fell to 1300 this week, and had previously fallen to around 1550 in early July, due to the surplus of the South Korean current account. Considering the geopolitical tensions in the Middle East and the monetary policies of major economies, the exchange rate faces dual risks, and the government will remain vigilant and respond to market fluctuations.