The document provided outlines an update to the "ASEAN+3 Bond Market Guide" specifically focusing on the Korean bond market. The guide aims to provide insights into the legal framework, regulatory structure, characteristics, transactions and trading infrastructure, costs, taxation, market size, statistics, and recent developments.
Key Findings:
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Overview: The guide introduces the Korean bond market and its legal and regulatory framework, detailing legislative structure, Korean bond market regulations, and continuous disclosure requirements.
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Legal and Regulatory Framework: It discusses the legislative structure and the Korean bond market's regulatory setup, emphasizing licensing rules, trading conventions, bond listing requirements, and market entry for non-residents.
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Bond Market Characteristics: Definitions of securities, types of bonds and notes, methods of issuing bonds, documentation languages, registration processes, and listing criteria are highlighted.
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Bond Transactions and Trading: The guide covers trading practices, interest rate futures, information services, critical benchmark rates, and the infrastructure supporting these activities.
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Bond Market Costs and Taxation: It explores listing fees, ongoing costs for corporate bond issuers, and the taxation framework applicable to fixed-income securities.
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Market Size and Statistics: The document provides data on the local currency bond market size in Korea over the period from 2018 to 2023, comparing it with selected markets based on GDP percentages.
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Recent Developments and Future Direction: The guide outlines recent major changes and future directions for the Korean bond market, including recent announcements affecting the market.
This comprehensive guide serves as a resource for understanding the complexities and nuances of the Korean bond market, providing insights into its regulatory environment, operational aspects, and market dynamics.
