Deputy Prime Minister Lee Hyung-il presides over the market situation inspection meeting... Consider further reduction in treasury bond issuance

Deputy Prime Minister and Minister of Finance and Economy Lee Hyung-il said on the 2nd, "We will closely monitor treasury bond market trends and consider further reducing the amount of treasury issuance if necessary."

Deputy Prime Minister Lee made this statement after mentioning the fact that the government decided to reduce the amount of government bond issuance in October by 5 trillion won to stabilize the government bond market at a market situation review meeting presided over at the Bank Hall in Jung-gu, Seoul.

He added, “Through close cooperation with relevant organizations, we will also take market stabilization measures such as emergency buybacks depending on the market situation.”

Deputy Prime Minister Lee said, "In addition to government bonds, interest rates in the bond market have risen overall and credit spreads have widened this year. As there are concerns that the burden of refinancing for companies with low credit ratings will increase if the high interest rate level continues in the future, we will continue to check the interest rates and issuance conditions in the bond market together with related organizations."

At the market situation review meeting that Deputy Prime Minister Lee presided over for the first time since taking office, Minister of Land, Infrastructure and Transport Hong Ji-sun was also present, in addition to the so-called "F4" that decides economic and financial policies, including Deputy Prime Minister Lee, Bank of Korea Governor Shin Hyun-song, Financial Services Commission Chairman Lee Eok-won, and Financial Supervisory Service Chairman Lee Chan-jin.

Deputy Prime Minister Lee explained the purpose, saying, "Going forward, we will make this meeting a meeting that comprehensively examines the macroeconomy, finance, foreign exchange, and real estate markets in one picture. We will detect early without missing even the smallest abnormal signals in the market and carefully examine where risks arise and where they can spread."

He said, "Except for the Gangnam area, housing prices are still on the rise, and in terms of supply, there is a time lag before actual occupancy, so continuous policy efforts are needed for the public to feel the effects of increased housing supply." He announced that he would diagnose the housing market situation and check to ensure that the previously announced supply measures are implemented without a hitch.

Deputy Prime Minister Lee added that in order to internationalize the won, the establishment of an offshore won payment system and relaxation of foreign exchange transaction regulations will be promoted as planned, and the impact that system reform may have on the market will be closely monitored and managed.