Background
The Korean bond market has grown significantly in line with Korea’s steady economic growth and robust fiscal soundness, and investment from the overseas official sector in particular has increased greatly in recent years.
In this regard, the BOK launched securities custody services in April 2014, to support overseas official institutions such as foreign central banks, international financial institutions and foreign governments investing in Korean Treasury Bonds (KTBs), Treasury Bills (T-bills) and Monetary Stabilization Bonds (MSBs).
The BOK, as the authority issuing KTBs, T-bills and MSBs, has been doing its utmost to provide overseas official institutions with the most reliable securities custody services in terms of safety and efficiency.
Definition of Securities Custody Services
Securities custody services include a comprehensive array of services provided by a custodian on behalf of investors, including safekeeping of securities and related services such as settlement, securities and cash transfers, interest receipt and payment, redemptions, tax withholding, reporting, reconciliation, foreign exchange, performance evaluation, securities lending, automatic investment program, term deposits, and so on.
Scope of BOK Business
The BOK’s securities custody services consist of safekeeping, settlement, securities and cash transfers, interest collection and payment, tax withholding, redemptions, reconciliation, reporting of daily transaction results, and so on.
- Eligible customers: foreign central banks, international financial institutions, foreign governments
- Eligible securities: Korean Treasury Bonds/Bills, Monetary Stabilization Bonds
In accordance with the Terms and Conditions signed by a Client and the BOK, the BOK opens a securities custody account and a Korean Won account under the Client’s name at the BOK, and provides the securities custody services through these accounts.
For more information or any inquiry, please contact Custody Section, Office of Treasury & Debt Securities via phone (82-2-759-4776/4752), email (bokcustody@bok.or.kr) or fax (82-2-759-4720).