Currency traders work at the foreign exchange dealing room at KEB Hana Bank headquarters in Seoul, Korea, Feb. 6. AP-Yonhap
Korea has failed to have its government bond markets included in the World Government Bond Index (WGBI) issued by FTSE Russell, the company said Thursday (local time), placing the country again on a waitlist for its next review in six months time.
The London-based FTSE Russell said Korea will remain on the watch list for a potential upgrade in the FTSE World Government Bond Index (WGBI) to be published in March 2024.
"This follows announcements by the South Korean market authorities of several proposed initiatives intended to improve the market's structure and the accessibility of Korean capital markets," the company said.
Seoul was added to the WGBI watch list in September 2022.
Experts say it normally takes two years for a country to move from the watch list to the index.
The WGBI is a broad index designed to measure the performance of government bond markets, including local currencies and sovereign bonds of major advanced nations.
"FTSE Russell appreciates the ongoing open and constructive dialogue with the South Korean authorities and intends to continue its engagement with all market participants to determine the efficacy of the enhancements as the reforms are implemented," the company added.
Korea's finance ministry, meanwhile, said the government will continue to communicate closely with investors and increase awareness of the country's policy reform efforts.
Korea and India are the only countries among the world's top 10 economies in terms of nominal gross domestic product that have yet to be included in the bond index. (Yonhap)
![[INTERVIEW] Ex-NIS chief urges politicians to stop misusing spy agency](https://img.koreatimes.co.kr/upload/thumbnailV2/59da8df88faa4a50ad42945501b03bca.jpg/dims/resize/178/optimize)
![[REVIEW] Musical 'Monte Cristo' returns with riveting tale of vengeance, love](https://img.koreatimes.co.kr/upload/thumbnailV2/3934be1fa6844478b619a015d610bc5b.jpg/dims/resize/178/optimize)
![[INTERVIEW] Meet the man behind giant rubber ducks that once took over Seoul](https://img.koreatimes.co.kr/upload/thumbnailV2/df32c60c8204448e98ccdb9841366bec.jpg/dims/resize/178/optimize)
