Ministry of Economy and Finance

Statistics Korea released 'Monthly Industrial Statistics, October 2024' report on November 29, 2024. The Index of All industry production in October decreased by 0.3 percent from the previous month. Please refer to the attached pdf for the full report.

The Ministry of Economy and Finance plans to issue Korea Treasury Bonds worth approximately 1,1 00 billion won in December 2024 through competitive bidding.   Auction Schedule, December 2024 (Unit: KRW billion) Name Auction Notice Auction Date Settlement Date Issue Date Type Volume 2Y KTB 02875-2609 (24 9) December 5 December 10 December 12 September 10, 2024 F1 100 3Y KTB 02875-2712 (24-12) December 4 December 9 December 10 December 10, 2024 F 200 5Y KTB 03000-2909 (24-7) December 18 December 23 December 24 September 10, 2024 F 100 10Y KTB 03000-3412 (24-13) December 11 December 16 December 17 December 10, 2024 F 200 20Y KTB 02875-4409 (24-10) December 19 December 24 December 26 September 10, 2024 F 100 30Y KTB 02750-5409 (24-8) November 28 December 2 December 3 September 10, 2024 F 300 50Y KTB 02750-7409 (24-11) December 10 December 13 December 16 September 10, 2024 F 100 Conversion offer Conventional December 12 December 17 December 19 September 10, 2024 F 300 1.  Fungible issue   * Under a fungible issue system, new K TB s issued within a specified period (three month period for 2Y KTB, six month period for 3Y, 5Y and 10Y KTB, one year period for 20Y and 30Y KTB, and two year period for KTBi and 50Y KT B) are regarded as the same KTB issue.   1) Buyback  Date KTBs to be purchased Amount December 18 10:40-11:00 am KTB 02250-2506 (15-2) KTB 03125-2506 (22-4) KTB 02250-2512 (15-8) KTB 04250-2512 (22-13) KTB 03250-2603 (24-3) KTB 05750-2603 (06-1) KTB 01875-2606 (16-3) KTB 01500-2612 (16-8) KTB 02375-2703 (22-1) KRW 3,000 billion * Further detail s will be provided on December 13 through the BOK website   2) Conversion offer Date KTB to be issued KTBs to be purchased Amount December 17 10:40-11:00 am 30Y KTB 02750-5409 (Maturing on September 10, 2054) KTB 01500-3012 (20-9) KTB 02375-3112 (21-11) KTB 04750-3012 (10-7) KTB 02625-3509 (15-6) KTB 03000-4212 (12-5) KRW 300 billion * Further d etail s will be provided on December 12 through the BOK website Please refer to the attached PDF. 

At the 17th OECD Global Forum* held in Asuncion, Paraguay (November 26-28), delegations from 48 countries, including Germany, Japan, and France, officially signed the Multilateral Competent Authority Agreement on Automatic Exchange of Information pursuant to the Crypto-Asset Reporting Framework (CARF MCAA).   * An OECD subsidiary body established in September 2009 to promote the implementation of international standards for tax transparency and the exchange of tax information.   A delegation from the Ministry of Economy and Finance (MOEF), led by Director General for International Tax, Park Hong-ki, attended the CARF MCAA signing ceremony to sign the agreement on behalf of Korea.   The CARF MCAA is an agreement among relevant authorities based on the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, which Korea signed in 2010 (effective in 2012). It specifies detailed provisions for the automatic exchange of information on crypto-assets among countries.   Under this agreement, signatory countries will annually exchange information on crypto-asset transactions of residents from partner jurisdictions, in accordance with the Crypto-Asset Reporting Framework (CARF) developed by the OECD in collaboration with G20 nations.   With the signing of this agreement, the National Tax Service (NTS) of Korea will gain access to information on crypto-asset transactions conducted by domestic residents through crypto-asset operators located in signatory countries. This is expected to enhance transparency in income derived from crypto-assets and support tax authorities in tracking offshore tax evasion.   The actual exchange of information among countries will begin after individual agreements are established among the signatory nations. MOEF plans to amend and enact relevant domestic laws and pursue individual agreements with other signatory countries, aiming to initiate the mutual exchange of crypto-asset transaction information by 2027. Please refer to the attached files.