Finance minister hopes for Bloomberg review of Korea's market status
Korea's finance minister has said the country's classification as an emerging market in a Bloomberg bond index should be reviewed, citing its improved market access for foreign investors, the finance ministry said Wednesday. Finance Minister Lee Hyoung-il made the remarks during a meeting with Bing Li, head of Asia-Pacific at Bloomberg L.P., to discuss ways to cooperate on the development of…
The finance minister of South Korea, Lee Hyoung-il, has proposed a review of the country's classification as an emerging market in Bloomberg's bond index. This classification is based on a Bloomberg Global Aggregate Index, which the finance minister believes should be reassessed due to recent improvements in market access for foreign investors.
During a meeting with Bing Li, head of Asia-Pacific at Bloomberg L.P., Lee expressed the need for such a review to ensure that Korea's status as an emerging market remains appropriate. He emphasized that while Korea is classified as a developed nation by the International Monetary Fund and the World Bank, the country has made significant strides in enhancing market access for global investors.
Lee also stressed the importance of maintaining open communication with global investors and sought Bloomberg's continued support in this process.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
