SEOUL, Aug 28 (Reuters) - Euroclear Bank said on Monday it agreed to open an omnibus account for South Korean treasury bonds, a move that would help the government's goal to draw more foreign investment into the domestic bond market.
"The domestic market has made key advancements in making Korean treasury bonds Euroclearable," the securities depository said in a statement.
The account at the Brussels-based international central securities depository will enable foreigners to trade South Korean treasury bonds on a tri-party platform, a major requirement for the bonds to be included in FTSE Russell's World Government Bond Index (WGBI).
The government has said it expects the inclusion in the WGBI to attract billions of dollars of foreign money into the domestic bond market, which is one of its objectives, along with opening up its currency market and improving access to the stock market.
South Korean Finance Minister Choo Kyung-ho said in May the government would go all out to make the inclusion happen before a September 2024 deadline. (Reporting by Jihoon Lee; editing by Miral Fahmy)
