South Korea Q4 public-sector bond issuance seen at 59 trillion won

The sequential decline in planned public-sector issuance points to a lighter government borrowing calendar into year-end, which matters for anyone tracking won-denominated supply and the competition it creates for bank paper. The expected softening in commercial bank bond demand is the more telling signal, since it suggests balance-sheet appetite rather than supply is the binding constraint. Whether that demand weakness proves seasonal or persists into the next quarter is the open question.