South Korean central bank official: The recent increase in South Korean government bond yields is "somewhat excessive".

Choi Yong-hoon, Director of the Financial Markets Bureau at the Bank of Korea, stated that bond yields have risen sharply recently, with the 3-year Korean government bond yield surpassing 3.2% despite the policy rate being maintained at 2.5%. Based on the historical average level of market rates during periods of stable policy rates, the current yield should ideally be in the higher range of 2% or above. He believes that although the recent rise in yields reflects various factors including market expectations and strong stock market performance, the current level of yields appears to be "somewhat excessive" as the current economic and inflation situation is not significantly deviating from the inflation target or potential growth rate.