South Korea's finance ministry said Tuesday that it won an approval from the People's Bank of China (PBOC) to sell the Chinese yuan-denominated sovereign bonds in China's inter-bank bond market.
The ceiling on the South Korea's state bond issuance was set at 3 billion yuan (462 million U.S. dollars), according to the Ministry of Strategy and Finance.
Helped by the PBOC's approval, the South Korean ministry plans to hold a road show for potential investors from Wednesday to Friday in Beijing and Shanghai.
During the show, the ministry will explain to officials from the PBOC and issuance arrangers as well as major investors about the background of the yuan bond issuance in China and situations on the South Korean economy.
The ministry said it is anticipating its yuan bond issuance to boost local financial institutions' entrance into China and to expand investor base in China for South Korean bonds.