South Korea to Buy Back $3.3 Billion of Bonds to Curb Volatility

The South Korean government will conduct an emergency buyback of 5 trillion won ($3.3 billion) in sovereign bonds to stabilize markets amid heightened volatility linked to the Iran war.

The buyback will be carried out in two tranches: 2.5 trillion won on March 27 and another 2.5 trillion won on April 1, according to a statement from the finance ministry on Thursday. The specific bonds to be purchased will be announced separately.