SEOUL, Oct 16 (Reuters) – South Korea’s finance minister mentioned the federal government will scrap taxes on foreigners’ revenue from investments in treasury bonds and financial stabilization bonds from Monday.
Talking to reporters late on Saturday in the USA after a gathering of Group of 20 finance ministers and central bankers, Choo Kyung-ho mentioned the federal government determined to deliver ahead the timing of the deliberate tax elimination from 2023 to subsequent week to spice up capital inflows into the native bond market.
FTSE Russell, a worldwide index supplier, mentioned on Sept. 30 it had added South Korea to an inventory for doable inclusion in its World Authorities Bond Index (WGBI).
“We have been included within the WGBI watchlist on the finish of September however have been considering there’s a must make a fast transfer to draw extra overseas funding into our treasury bond market,” Choo mentioned.
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Reporting by Cynthia Kim; Modifying by William Mallard
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