SEOUL -South Korea's government will expand its corporate bond-buying program among other liquidity supply measures amid growing worries about a credit crunch in bond and short-term money markets.
The measure is aimed at easing volatility and concern of tight liquidity in corporate bond and short-term money markets, Choo said after a meeting with top financial officials, including the central bank governor and regulatory chief. The Bank of Korea's monetary policy board will also consider its own measures, such as reactivating a special purpose vehicle to purchase corporate bonds and commercial paper first introduced during the pandemic, Governor Rhee Chang-yong told reporters.
There have been growing worries about signs of stress in South Korea's short-term money market, with the central bank having raised its policy interest rate by 250 basis points since August last year from a record-low 0.5 per cent to contain inflation.
I pray for South korea
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