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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Reserve Currencies

South Korea may sell up to $5 billion of global debt

Posted on 17 October 2008

From Bloomberg: South Korea plans to sell as much as $5 billion in foreign-currency denominated bonds next year, a finance ministry official said, as the nation seeks to stabilize the won, Asia’s worst performer this year.

That would be South Korea’s biggest sale of foreign bonds since 1998, and is part of a planned issuance of 15 trillion won ($12 billion) of debt next year for the government’s so-called currency stabilization fund, the ministry official, who declined to be named, said in a phone interview today. Money in the stabilization fund is used, when necessary, to keep the won from rising or falling too fast. …. Full Article: Source


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