South Korea Ends 14-Year Restriction on Kimchi Bond Investment
South Korea is scrapping a 14-year-old ban on local institutions investing in so-called Kimchi bonds sold for domestic use, in a move aimed at improving foreign exchange liquidity and easing pressure on the won.
The Bank of Korea said it will fully lift restrictions on domestically issued, foreign currency-denominated debt, known as Kimchi bonds starting Monday. The change will allow financial institutions involved in FX-related businesses to purchase such instruments freely.
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