South Korea's 3-Year Government Bond Yield Falls 2.3bp to 3.844% on July 28 as Stock Market Plunges

According to Seoul Bond Market data, South Korean government bond yields declined slightly on the morning of July 28 as risk-off sentiment swept markets. The 3-year benchmark yield fell 2.3 basis points to 3.844%, while the 10-year yield dropped 1.5bp to 4.315% and the 30-year yield eased 0.1bp to 4.568%.

The decline followed a two-day plunge in international oil prices after the U.S. and Iran halted military exchanges, triggering a sharp selloff in South Korean equities. The KOSPI index plummeted 9.12% and the KOSDAQ fell 7.24%, with circuit breakers activated as Samsung Electronics dropped over 10% and SK Hynix declined more than 12%. Analysts cited the U.S. Federal Reserve's policy decision—due to be announced in two days—as a key factor constraining further market direction.