ID :
42567
Sun, 01/25/2009 - 08:32
Auther :
Shortlink :
https://www.oananews.org//node/42567
The shortlink copeid
Foreign ownership of government bonds drops in 2008
SEOUL, Jan. 25 (Yonhap) -- Foreign ownership of South Korean government bonds dropped 2.1 percentage points last year as the global financial crisis prompted foreign investors to let go of holdings here, government data showed Sunday.
Foreign investors held 20.1 trillion won (US$14.4 billion) worth of South Korean
government bonds at the end of 2008, or 7.1 percent of the total 239.3 trillion
won issued. The figure is lower that the 25.4 trillion won, or 9.2 percent of the
total, held by foreigners a year ago, according to the Ministry of Strategy and
Finance.
"Foreign investment in local government bonds fell last year in the wake of a
liquidity squeeze and the economic downturn following the global financial
crisis," said a ministry official.
For 2008 as a whole, South Korea's currency lost 26 percent against the U.S.
dollar.
Last week, the Bank of Korea said the local economy shrank 3.4 percent in the
final quarter of 2008, marking the first contraction on an annual basis in a
decade.
(END)
Foreign investors held 20.1 trillion won (US$14.4 billion) worth of South Korean
government bonds at the end of 2008, or 7.1 percent of the total 239.3 trillion
won issued. The figure is lower that the 25.4 trillion won, or 9.2 percent of the
total, held by foreigners a year ago, according to the Ministry of Strategy and
Finance.
"Foreign investment in local government bonds fell last year in the wake of a
liquidity squeeze and the economic downturn following the global financial
crisis," said a ministry official.
For 2008 as a whole, South Korea's currency lost 26 percent against the U.S.
dollar.
Last week, the Bank of Korea said the local economy shrank 3.4 percent in the
final quarter of 2008, marking the first contraction on an annual basis in a
decade.
(END)
