Acting Chief Choi Meeting Foreign IBs: "Reorganizing Government Bond Investment Procedures"

Steadfast Advancement of Capital Market Modernization
IBs Call for "Active Macroeconomic Policy Response"

Choe Sang-mok, Acting President and Deputy Prime Minister as well as Minister of Economy and Finance, is presiding over a meeting with major investment banks (IB) held on the 13th at the Government Seoul Office in Jongno-gu, Seoul.

Choi Sang-mok, Acting President and Deputy Prime Minister as well as Minister of Strategy and Finance, met with representatives of foreign investment banks (IBs) on the 13th and stated, "We will revise procedures such as tax exemption applications for foreign investors and government bond investment to comply with global standards."

At a meeting with foreign IBs and economists held at the Government Seoul Office on the same day, Acting President Choi said, "We will continue to promote structural improvements in the foreign exchange market to ensure the smooth inclusion of the FTSE Russell World Government Bond Index (WGBI)."

The meeting was organized to review overseas perspectives on Korea's recent political and economic situation and to assess trends and prospects in the international financial market.

Acting President Choi referred to the recent decision by the international credit rating agency Fitch to maintain Korea's sovereign credit rating (AA- with a stable outlook), evaluating it as "a result of the international community recognizing Korea's mature response and crisis management system."

He also expressed hope that "concerns of foreign investors regarding Korea's sovereign creditworthiness will be significantly alleviated going forward."

Acting President Choi emphasized that value-up support bills, such as corporate tax credits for companies expanding shareholder returns and separate taxation on dividend income, should be actively discussed in the National Assembly to advance the capital market.

On the day, IB representatives and economists proposed to the government active macroeconomic policies for virtuous economic cycles, improvements in corporate governance, and expansion of tax incentives.