Finance minister hopes for Bloomberg review of S. Korea's market status

Seoul, October 28 - South Korea's Finance Minister, Lee Hyoung-il, has voiced his desire for a review of the country's status as an emerging market in a Bloomberg bond index, citing the improvement in market access for foreign investors, according to the finance ministry's statement on Wednesday. During a meeting with Bing Li, Bloomberg's Asia-Pacific head, Lee emphasized the need for such a review to ascertain whether South Korea's classification as an emerging market in the Bloomberg Global Aggregate Index remains suitable.

Lee pointed out that South Korea has been categorized as a developed nation by the International Monetary Fund and the World Bank, and highlighted the country's strides in enhancing market access for global investors. He urged Bloomberg to maintain its focus and collaboration, ensuring these developments are accurately reflected in future reviews of the country's classification within the index.

Moreover, Lee underlined the significance of maintaining open communication with global investors, requesting Bloomberg's assistance via its financial information services and media platforms. In return, the Bloomberg representative acknowledged the value of dialogue and cooperation with the South Korean government, vowing to facilitate greater comprehension of the South Korean market among global investors through its financial information services and media channels.