The Structural Backdrop to the Rise in Long-Term US Treasury Yields and Its Implications [Senior Research Fellow] Kang, Hyunju / Sep. 22, 2026 Since the end of June, the rise in long-term US Treasury yields has been driven by the term premium and real rates rather than by monetary policy expectations or inflation concerns. Estimates are subject to methodological uncertainty, but the factors most often cited in the market—expanded AI-related bond issuance, an erosion of the safe-asset premium on US Treasuries, and unce... The High Won-Dollar Exchange Rate and Economic Polarization [Senior Research Fellow] LEE, Seungho / Sep. 22, 2026 Despite the recent decline in the won-dollar exchange rate, its persistently high level over the past several years has heightened concerns among businesses and households. These concerns appear to reflect fears that, despite the positive effects of a weaker won on the overall economy, it may deepen economic polarization by pushing up domestic prices and affecting different sec... Comparative Analysis of Private Fund Access Regulations and Policy Implications for Korea [Senior Research Fellow] Hwang, Seiwoon / Sep. 22, 2026 As private market assets—including private equity, private credit, and infrastructure—have expanded in scale and become an important component of institutional investors’ asset allocation, major jurisdictions have increasingly discussed the need to broaden retail investors’ access to these investment opportunities. Given that direct investment in private market assets entails s... The Expected Benefits and Policy Challenges of Korean Won Internationalization: With a Focus on Expanding Offshore KRW Transactions [Senior Research Fellow] Kim, Hansoo / Sep. 08, 2026 The internationalization of the Korean won is a policy initiative aimed at modernizing the currency’s trading and settlement infrastructure—which has lagged behind the already extensive integration of Korea’s capital markets into the global financial system—and extending the liquidity base of the won to global financial markets. Enabling the won to be traded and settled offshor... Structural Characteristics of the Financial Assets and Liabilities of Korean Non-financial Corporations and their Implications [Senior Research Fellow] Lee, Sungbok / Sep. 08, 2026 Corporate dependence on banks is very high in Korea. Although the share of investment assets in the financial assets of Korean corporations has increased, a substantial portion of their financial assets continues to be held in short-term deposits. On the liability side, the share of loan liabilities has also increased. In addition, a large portion of corporate financial assets ...