Bond issuance in South Korea inched down in November from the previous month amid rising interest rates, data showed Thursday.
The value of bonds sold in Asia’s fourth-largest economy stood at 65.8 trillion won ($56.1 billion) last month, down 200 billion won from a month earlier, according to the data from the Korea Financial Investment Association.
Last month’s decrease compares with an 8.4 trillion won on-month jump recorded in October.
Sales of financial bonds declined by 2.5 trillion won, with corporate bond sales shrinking by 1.8 trillion won.
In contrast, state debt sales expanded by 1.4 trillion won to 14.7 trillion won in November.
The issuance of environment, social and governance (ESG) bonds increased by 330 billion won to 5.9 trillion won.
ESG bonds are a type of sustainability debt offering aimed at financing corporate activities in environmentally friendly and sustainable projects.
Foreign investors bought a net 6.2 trillion won worth of South Korean bonds in November, with their holdings of local bonds hitting an all-time high of 208.6 trillion won, up 3.5 trillion won from the prior month.
As of end-November, the value of outstanding bonds in the country reached 2,469 trillion won, up 19.05 trillion won from October, according to the data. (Yonhap)