New South Korean CDS Index in the works

Bloomberg previously reported that Korea Financial Investment Association (KOFIA) was planning to introduce a new credit default swap index covering South Korean single-name corporates. The paper quoted officials from KOFIA for the story while also mentioning the index was planned to start in the fourth quarter of 2010.

Although details weren’t released, major Korean companies such as Hyundai, GS Caltex, Kookmin Bank (KB Financial), Korea Electric Power, KT (Korea Telecom), Posco, Samsung, Woori Bank, Hana Bank, Shinhan Bank, KT&G and Hynix Semiconductor already have CDS that are traded and could all be possible constituents in an index.

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