Per Yonhap: "The Bank of Korea (BOK)....>

SOUTH KOREA: Per Yonhap: "The Bank of Korea (BOK) and the country's financial

authorities are moving to purchase foreign currency-denominated bonds in their

latest effort to help stabilize the local currency market, the bank said

Tuesday. "As part of efforts to secure new policy measures, the Bank of Korea

and the finance ministry are moving to introduce a new foreign currency supply

system by purchasing foreign currency bonds under repurchase agreements," the

BOK said in a released statement. The BOK has long stressed the need for new or

unconventional policy steps to support the economy hit by the unprecedented new

coronavirus pandemic, especially since it delivered two rate cuts in March and

May to send the key rate to a fresh record low of 0.50 percent. The BOK will use

its foreign exchange reserves to inject U.S. dollars into the market. It will

first purchase U.S. Treasurys held by local financial institutions, including

banks, but will expand to include other U.S. bonds if necessary."