Hooyeon Kim

South Korea will cut its debt issuance in June, the finance ministry said, as the government steps up its defense of the bond market.

South Korea will mainly cut issuance of longer-dated tenor notes for its planned reduction in June bond sales, according to a top finance ministry official.

South Korea’s bond market is pricing in an excessive number of central bank rate hikes, creating buying opportunities in short-term debt, according to NH Amundi Asset Management Co.

South Korea intensified monitoring of the government bond market through daily phone calls and a private messaging group with market participants, as authorities step up efforts to contain rising yields.

South Korea’s government pledged to curb excessive volatility as the currency approaches the lowest since 2009 and as bond yields climbed.

South Korea joins authorities in Indonesia and the Philippines in stepping up measures to defend currencies as elevated oil prices hurt the region's importers.

South Korea laid out a series of targeted measures to curb pressure on the won after the currency slid to its weakest level since 2009, pledging firm action against speculative trading and other activities that authorities said had amplified recent market swings.

South Korea is set to crack down on speculative foreign-exchange trading, with regulators planning on-site inspections and investigations into suspected market-disruptive activities, the finance ministry said.

South Korea’s central bank and financial watchdog will begin joint examinations of major foreign-exchange banks on Wednesday, the first such inspections in 14 years.

South Korea and the US agreed to maintain close cooperation in addressing the won’s weakness, according to Korea’s top foreign-exchange official.