Ministry of Finance and Economy

The Ministry of Finance and Economy plans to issue Korea Treasury Bonds worth approximately 16,000 billion won in September 2026 through competitive bidding.   Auction Schedule, September 2026 (Unit: KRW billion) Name Auction Notice Auction Date Settlement Date Issue Date Type Volume 2Y KTB 03625-2809 (26-7) August 27 August 31 September 1 September 10, 2026 F1 3,100 3Y KTB 03500-2906 (26-5) September 2 September 7 September 8 June 10, 2026 F 3,200 5Y KTB 04125-3109 (26-9) September 16 September 21 September 22 September 10, 2026 F 3,000 10Y KTB 04250-3606 (26-6) September 9 September 14 September 15 June 10, 2026 F 2,800 20Y KTB 04500-4609 (26-10) September 17 September 22 September 23 September 10, 2026 F 600 30Y KTB 04500-5609 (26-8) August 27 September 1 September 2 September 10, 2026 F 2,500 50Y KTB 00000-7609 (26-11) September 8 September 11 September 14 September 10, 2026 N2 800 Conversion Offer Conventional September 10 September 15 September 17 September 10, 2026 F 400 Inflation-linked September 1 September 4 September 8 June 10, 2026 F 100   FXB 00000-2709 (26-9) September 15 September 18 September 21 September 10, 2026 N/A 1,000 1.       Fungible issue 2.       New issuance   * Under a fungible issue system, new KTBs issued within a specified period (six-month period for 2Y, 3Y, 5Y, 10Y and 30Y KTB, one-year period for 20Y KTB, and two-year period for KTBi and 50Y KTB) are regarded as the same KTB issue.     1) Non-competitive bids option I   For retail investors, KTBs worth 3,040 billion won (no more than 20% of the offered amount in the auction excluding 50Y KTBs) will be allocated first at the highest accepted bid rate.   2) Non-competitive bids option II   A non-competitive purchasing option II is granted to primary dealers (PD) whereby PDs can make additional purchases of 5-30%* of the accepted bid amount within three business days after the auction.   * Up to 20%p of the option is granted to the top-performing PDs, 15%p to the 2nd best-performing PDs, 10%p to the 3rd best-performing PDs, and 5%p to the rest, according to their market-making performances for the last six months. MOEF will grant additional 5-10%p to best performing PDs in the monthly evaluation.   3) Non-competitive bids option III   KTB STRIPS* are supplied on the third business day after the auctions, 310 billion won for 3Y, 5Y, and 10Y KTBs, 360 billion won for 30Y KTBs, and 160 billion won for 20Y KTBs. PDs that have obtained the right to purchase these KTB STRIPS can make purchases of up to 25 billion won.   ＊Non-competitive option Ⅵ Details have yet to be decided. If non-competitive option Ⅵ needs to be implemented, the Ministry will make an announcement on September 22 with a detailed plan.   4) Buyback   Date KTBs to be purchased Amount September 16 10:40-11:00 am    KTB 02875-4409 (24-10) KTB 01875-5103 (21-2) KTB 03250-5303 (23-2) KTB 03250-5403 (24-2) KTB 02625-5503 (25-2)   KRW 1,500 billion * Further details will be provided on September 11 through the BOK website.   5) Conversion offer   Date KTBs to be issued KTBs and KTBis to be purchased Amount September 4 10:40-11:00 am 10Y KTB 04250-3606 (26-6) (Maturing on June 10, 2036)   KTBi 01750-2806 (18-5) KTBi 01125-3006 (20-5) KTBi 01625-3206 (22-6) KTBi 00750-3406 (24-6)   KRW 100 billion September 15 10:40-11:00 am 30Y KTB 04500-5609 (26-8) (Maturing on September 10, 2056)    KTB 03250-4209 (22-11) KTB 03000-4212 (12-5) KTB 02500-5203 (22-2) KTB 03625-5309 (23-7) KTB 02750-5409 (24-8)   KRW 400 billion * Further details will be provided on September 1 (KTBi) and September 10 (KTB) through the BOK website.  

On August 26, Deputy Minister for International Affairs at the Ministry of Finance and Economy Moon Ji Sung held a virtual meeting of the Global Key Investor Forum*, where he briefed major global investors on the progress of Korea’s recent foreign exchange (FX) and capital market reforms and heard feedback from investors on their experience with the newly introduced measures. * A regular communication channel between the government and global investors through which the government provides foreign investors with updates on FX and capital market reforms and reviews and addresses difficulties they encounter in the investment process.   The meeting brought together major global asset managers, including BlackRock, Vanguard, Amundi, Northern Trust and State Street, as well as the Asia Securities Industry & Financial Markets Association (ASIFMA)* and the Asian Corporate Governance Association (ACGA)**. Representatives from relevant Korean authorities and institutions also attended, including the Ministry of Finance and Economy, the Financial Services Commission, the Bank of Korea, the Financial Supervisory Service, the Korea Exchange and the Korea Securities Depository.   First, the government briefed investors on the progress of recent FX and capital market reforms, including ❶the distribution of e-FX guidelines* to support unattended automated trading during nighttime hours in line with the 24-hour operation of the FX market; ➋reforms to the settlement facilitation funding scheme to fundamentally reduce KRW liquidity burdens associated with securities settlement; and ❸regulatory amendments to establish and operate the KRW global settlement network**, which is scheduled for a pilot launch in September and full implementation in 2027. * FX transactions conducted electronically through functions such as the provision of price information and automated order matching. ** A KRW settlement system that allows foreign investors to hold and transfer Korean won and settle transactions in Korean won overseas through foreign financial institutions.   Investors positively assessed the direction and progress of the recent FX and capital market reforms, while noting the need to continuously review detailed operational arrangements to ensure that the newly introduced measures work smoothly in practice for investors.   In particular, investors emphasized the importance of creating an environment in which the Korean won can be actively traded at more competitive prices during London and New York trading hours following the introduction of 24-hour FX trading. They also expressed expectations that the recently announced reforms to the settlement facilitation funding scheme would significantly ease KRW liquidity burdens in the securities settlement process and called for close monitoring of their implementation.   The relevant authorities and institutions provided detailed responses to investors’ questions on matters within their respective areas of responsibility. In particular, they agreed to explore further improvements through consultations among the relevant authorities and institutions to address any difficulties that persist for investors in practice even after the recent reforms, and to share the results of their review with investors.   Going forward, the government plans to convene the Investor Forum regularly and continue monitoring how key FX and capital market reforms are taking hold in the market. Please refer to the attached files. 

On August 27, Deputy Prime Minister and Minister of Finance and Economy Koo Yun Cheol presided over the 273rd Ministerial Meeting on International Economic Affairs at the Government Complex-Seoul and discussed four agenda items: “Future Policy Direction for Korea’s Accession to the CPTPP,” “Measures to Expand Strategic Economic Cooperation between Korea and Central Asia,” “Plans and Expected Outcomes for the 8th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference,” and “Overseas Construction Performance and Future Support Measures.”   Deputy Prime Minister Koo noted that the government has created a stronger foundation for Korean companies to enter overseas markets through bilateral trade and economic cooperation with major partners, including the U.S. and the Middle East. He emphasized that, going forward, the government will extend these efforts to regional and multilateral trade and economic cooperation, building a broader and more closely connected global economic network for Korea.   To this end, the government plans to ①expand its multilateral trade network, ➁strengthen the foundation for economic cooperation with promising regions, including Central Asia and Africa, and ③support efforts to translate such cooperation into tangible outcomes for Korean companies in exports and overseas project orders.   In this context, the government will begin gathering public input and engaging in broader public discussions on Korea’s accession to the CPTPP as part of its efforts to strengthen solidarity among like-minded middle powers, stabilize critical supply chains and expand export markets.   The government will carefully assess whether CPTPP accession would serve the national interest and bring tangible benefits to people’s livelihoods before deciding whether to move forward with accession, while continuing to communicate with the public in a sincere manner. Given the CPTPP’s high level of market openness, the government will also objectively analyze the economic effects of accession and its impact on individual industries and explain the findings to the public. In particular, it will closely examine the concerns and potential impact on the agriculture and fisheries sectors and seek extensive input from relevant stakeholders. Should the government decide to pursue accession, it plans to proactively put in place effective domestic support measures.   Economic cooperation with new growth partners will also be broadened. On the occasion of the Korea-Central Asia Summit, which will be held in Korea for the first time this September, the government plans to strengthen mutually beneficial and strategic economic cooperation with Central Asia, which is rich in natural resources and strategically located at the heart of Eurasia.   In particular, the government will pursue concrete cooperation projects focusing on three key areas of shared interest: ① critical minerals and energy supply chains; ② future-oriented cooperation in areas such as AI and biotechnology; and ③ strengthening the foundation for mutually beneficial cooperation, including transportation, logistics and human capital development. By combining Central Asia’s resources and potential with Korea’s technology, financing capabilities and policy experience, the government aims to generate concrete results, including the establishment of stable supply chains and increased exports and overseas project orders for Korean companies.   The government will also take economic cooperation with Africa to the next level. The Ministry of Finance and Economy will jointly host the 8th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference with the African Development Bank (AfDB)* and the Export-Import Bank of Korea from September 8 to 11.   * Established in 1964 to promote economic and social development in Africa; headquartered in Côte d’Ivoire; Korea joined in 1982.   This year marks the 20th anniversary of KOAFEC, and the Ministerial Conference will provide an opportunity to present a new vision and action plan for future Korea-Africa economic cooperation, with a focus on AI and digital transformation. The government also plans to enhance the foundations for growth in African countries through various development cooperation initiatives and increase opportunities for Korean companies to enter African markets.   Support for Korean companies in securing overseas projects will also be bolstered to help them expand their presence in global markets. As their overseas business activities shift from traditional infrastructure markets centered on civil engineering and construction toward high-value-added emerging industries, including green and smart infrastructure and nuclear power, Korea’s policy financing and diplomatic capabilities will be mobilized to help them seize new opportunities.   Although conditions for securing overseas projects are more challenging this year than last year due in part to delays in project procurement in the Middle East, the government plans to provide targeted support for key projects for which contracts are expected to be signed this year and strengthen support throughout the entire project cycle, from project identification and financing to post-award stages.   Going forward, the government will continue to devote its policy resources to extending Korea’s economic reach, enabling Korean businesses and citizens to tap into new opportunities across the globe. Please refer to the attached files.