South Korea has failed to make the World Government Bond Index(WGBI) operated by FTSE Russell.

FTSE Russell said on Wednesday that South Korea will remain on a watch list for a potential upgrade to a market accessibility level of 2 from 1 and inclusion in the key government bond index to be published in September 2024.

FTSE Russel added that the country’s authorities have been advancing its initiatives to improve accessibility of its capital market for global investors. 

In September 2022, South Korea was added to the watch list for the WGBI, a broad index designed to measure the performance of government bond markets, including local currencies and the sovereign bonds of major advanced nations.

FTSE Russell regularly makes decisions on the WGBI inclusion in March and September, based on the size of government bond issuance, sovereign credit rating, and market accessibility.
    
Twenty-four major countries, including the United States, the U.K., Canada, and Japan, are included in the index, with roughly two-point-five trillion dollars tracking the index.