South Korean Finance Minister Seeks WGBI Listing During London Stock Exchange Visit

South Korean Finance Minister Choo Kyung-ho has taken proactive steps to garner attention from global investors by reaching out to the CEO of the London Stock Exchange Group. He requested support for including South Korea in the influential World Government Bond Index (WGBI), which tracks the performance of sovereign bonds around the world.

First-ever Participation in LSE Opening

Marking a historic moment, Minister Choo was present at the London Stock Exchange's opening ceremony on a Thursday, the first occurrence featuring a member of the Korean government. Choo's attendance, alongside other prominent figures from the Korean finance sector, underscored the significance of the event.

Endeavors to Attract Foreign Investment

During his London visit, which began on Monday as part of President Yoon Suk Yeol’s state visit, Choo emphasized efforts to foster a favorable investment climate for entities in both Korea and the UK. His talks with David Schwimmer, the CEO of LSE Group, included discussions on Korea's WGBI list upgrade, a pivotal move that Korea anticipates will lead to an increase in foreign capital inflow.

Korea's bid to join the WGBI has been a key focus, considering it has been on the waiting list since September 2022, but missed inclusion as of March. If successful, this could have a significant impact on the country's bond market.

Choo also highlighted initiatives aimed at improving Korea’s own financial markets, such as inviting offshore company participation and extending trading hours to match London's closing time.

LSE Group CEO Schwimmer acknowledged Korea's strides toward WGBI inclusion and ensured ongoing support.

Finance, Bonds, Markets