Recent Changes in Government Bond Issuance Strategies in Major Economies and Their Implications [Research Fellow] Jung, Whayoung / Oct. 06, 2026 Major economies face changing conditions for government bond issuance as fiscal financing needs remain high, central banks reduce their bond holdings, and investor demand for long-dated bonds weakens. The United States is making greater use of short- and medium-term securities and T-bills, while Japan is reducing the share of super-long-term issuance and preparing to introduce ... Performance and Market Shares of Retirement Pension Providers [Research Fellow] Hong, Wonku / Oct. 06, 2026 Korea’s retirement pension market has grown rapidly, with total assets reaching KRW 501.4 trillion at the end of 2025. While the share of defined benefit (DB) plans has declined, defined contribution (DC) plans and individual retirement pension (IRP) accounts have expanded rapidly, along with investment in performance-linked products such as funds, target date funds (TDFs), and... 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...