FTSE Russell said South Korea will continue to remain on the watch list for inclusion to its global bond index — and India for the emerging-market equivalent — extending the countries’ wait to be added to the key indexes by at least another six months.
“The South Korean market authorities have undertaken, or are in the process of undertaking, several initiatives intended to improve the structure and accessibility of the South Korean capital markets for international investors,” FTSE said in a statement on Thursday.
Korean authorities have been intensifying efforts to improve the country’s market systems to court more foreign investors, most recently reaching an agreement with Euroclear Bank SA to open an omnibus account for the nation’s Treasury bonds. The government has said it will also extend the won’s onshore market trading hours, and let a broader range of global investors participate in the local interbank currency market.But those reforms will only be implemented as early as next year.
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