The Republic of Korea to maintain close communication with global investors ahead WGBI inclusion

(KPL/Yonhap) Finance Minister Choi Sang-mok has said the Republic of Korea will maintain close communication with global investors to ensure the country's successful debut in a key global government bond index managed by FTSE Russell. Choi made the remark during his meeting in New York with representatives from major U.S. investment companies on Tuesday (U.S. time), noting that South Korea's inclusion in the World Government Bond Index (WGBI) reflects global recognition of its efforts to improve the investment environment. "Through close communication with global investors, we will make efforts to ensure that previous measures to revamp systems are functioning effectively," Choi said. South Korea will be added to the WGBI starting November 2025. Choi added that the government will continue to roll out the "corporate value-up program," which aims to boost the value of local businesses and eliminate the so-called Korea discount. The finance minister also told the investors that South Korea, based on its c utting-edge semiconductor technologies and related infrastructure, holds great potential in becoming a major player in the artificial intelligence (AI) industry. South Korea will harness a diversified energy portfolio covering nuclear and hydrogen to secure sufficient power for the AI industry, while achieving carbon neutrality, Choi added. Touching on the tension between Washington and Beijing, Choi said South Korea has been maintaining effective communication with the United States regarding trade policies that may affect local businesses, including the Inflation Reduction Act. South Korea will also seek ways to resolve issues with China by pursuing mutual benefits, he added. Finance Minister Choi Sang-mok speaks during a meeting with U.S. investors in New York on Oct. 22, 2024, in this photo released by the Ministry of Economy and Finance. Source: Lao News Agency