South Korea finance ministry says it may ban foreign banks arranging global bond deals

Seoul, October 8 - The South Korean finance ministry is contemplating a ban on foreign banks arranging offshore bond sales for local issuers, according to an official from the Ministry of Finance and Economy, as reported by Reuters. The ministry is currently seeking input from banks holding domestic securities licenses regarding the potential implementation of such a ban, revealed by the official on Thursday.

Subsequently, the ministry and the market regulator intend to announce their decision following the collection of market feedback, as per the official. The Seoul Economic Daily initially broke the story on Tuesday, based on a survey conducted by the ministry.