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Bank of Korea to purchase special bank bonds – The Korea Times

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Bank of Korea to purchase special bank bonds – The Korea Times

South Korea's central bank will infuse capital into state-run policy lenders Korea Development Bank, Export-Import Bank of Korea and Industrial Bank of Korea by purchasing their special bonds in open market operations, The Korea Times reported April 9.

The Bank of Korea's move would help the banks in providing funds to companies affected by the coronavirus pandemic. On April 9, the central bank kept its policy rate unchanged and said it will conduct outright purchases of government bonds worth about 1.5 trillion won.

Bank of Korea Governor Lee Ju-yeol said the central bank is considering offering loans to securities firms by taking their blue-chip bonds as collateral, the publication reported.

As of April 9, US$1 was equivalent to 1,209.54 South Korean won.