Journalist

Kwon Sung jin
  • Korean treasuries set for WGBI entry in April 2026 as planned: FTSE Russell
    Korean treasuries set for WGBI entry in April 2026 as planned: FTSE Russell SEOUL, October 08 (AJP) - South Korean government bonds will join the World Government Bond Index (WGBI) in April 2026 as scheduled, global index provider FTSE Russell confirmed Tuesday. The timeline, originally announced last year, had been revised from November 2025 to April 2026, triggering investor jitters over possible second thoughts about Korea’s sovereign credibility. The adjustment came just days after the Constitutional Court removed former President Yoon Suk Yeol from office for his brief imposition of martial law. The WGBI, which includes 25 major government bond markets, is the world’s largest bond index, tracking about $3 trillion in assets. Korea’s entry is expected to attract at least $56 billion in inflows, according to estimates by the National Pension Service, the country’s leading institutional investor. Korean bonds will be phased into the index over eight months from April to November next year, with “equal weighting” each month, FTSE Russell said. “We will work closely with the South Korean government, investors, and market infrastructure to ensure a smooth transition,” the index provider added. As of October 2025, Korean treasuries are projected to account for about 2.08 percent of the index, ranking ninth among sovereigns. The United States leads with 40.9 percent, followed by China with 10.1 percent and Japan with 9.2 percent. “This marks the final official review before Korea’s inclusion in April 2026,” the Ministry of Economy and Finance said in a statement. “The confirmation enhances market predictability and reaffirms confidence in Korea’s fiscal and financial soundness.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-08 11:01:57
  • INTERVIEW: S. Korea invests in rural resilience as climate extremes worsen
    INTERVIEW: S. Korea invests in rural resilience as climate extremes worsen SEOUL, September 30 (AJP) - South Korean farmers are feeling the intensifying pressures of climate change, from searing heat to destructive rains. Few know this better than Kim In-jung, the newly appointed head of the Korea Rural Community Corporation, who says the task before him is nothing less than safeguarding the nation’s food supply. “We are all experiencing the effects of climate change,” Kim said in an interview on Sept. 22. “This summer, the national average temperature was 27.7 degrees Celsius, the highest on record. Some areas faced extreme rainfall, while others endured drought. Our urgent task is to ensure farmers can work safely and efficiently.” The country has endured both ends of the climate spectrum in recent months. From Aug. 30 to Sept. 22, a severe drought led to the first-ever national disaster declaration in Gangneung, a coastal city on the east. Just weeks earlier, torrential rains inundated parts of the central Chungcheong region, causing extensive damage. Such swings, Kim warned, are likely to become more common. Since taking office in May, he has focused on preparing for extreme weather — inspecting reservoirs, reinforcing safety systems and expanding water storage. Reservoir upgrades and the wider use of groundwater dams, which are less vulnerable to weather shifts, are central to his plans. Five such dams now supply 120,000 tons of water daily, and the corporation hopes to expand that network to 39 sites. But South Korea’s challenges go beyond water. Food self-sufficiency remains stubbornly low: while overall agricultural self-sufficiency stood at 49 percent in 2023, the country produces little of its own wheat and corn. Kim argues that building a stronger production base for non-rice crops, along with better irrigation and drainage systems, is essential for food sovereignty. The aging farm population adds urgency. More than half of South Korea’s farm operators are now over 70. To attract younger farmers, the corporation is developing programs to provide land, greenhouse rentals and housing, easing barriers to entry for a new generation. Kim said safety is another pressing concern. A majority of the country’s reservoirs are rated in poor condition, yet only about 50 are repaired each year. Ahead of this summer’s heavy rains, the corporation preemptively lowered reservoir levels to create space for 1.2 billion tons of water and cleared thousands of kilometers of drainage channels. A joint emergency response system operated more than 3,400 reservoirs and 1,000 pumping stations. Kim, a nearly 30-year veteran of agricultural and rural development policy, also wants to modernize the corporation itself — from management culture to workplace safety. Initiatives now include mandatory two-person teams, smart monitoring devices and worker-led risk assessments. “We must create a workplace free of industrial accidents,” he said. Longer term, the corporation is turning to rural revitalization. Under the Rural Restructuring Act, enacted last year, it is backing projects to reimagine rural areas with investments in renewable energy and community development. For Kim, the mission is clear: adapting to climate change, strengthening food security and keeping farmers safe. “We cannot stop the weather from changing,” he said. “But we can prepare for it, and we can protect those who put food on our tables.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-30 10:37:22