South Korea Rejects Report on Large-Scale US Treasury Purchases as Untrue

Deep News19:15

South Korea's finance ministry and central bank stated that a report regarding the purchase of US Treasuries is "inconsistent with the facts," adding that the asset composition and management of foreign exchange reserves are not disclosed to the public.

The joint statement from the finance ministry and the Bank of Korea came after a report by a South Korean economic newspaper stating that South Korea was considering large-scale purchases of long-term US Treasuries.

According to the statement, the composition and management of foreign exchange reserve assets are not made public.

The denial follows the earlier media report suggesting that South Korea was weighing significant purchases of long-dated US government bonds.

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