New issuance of index-linked structures has reached a record low this year.
The outstanding balance of equity-linked securities (ELS) increased for the fifth consecutive quarter, reaching KRW45.2 trillion (US$31.6 billion) at the end of Q3 2022, despite a slowdown in issuance across the South Korean market. In the meantime, the outstanding volume of equity-linked bonds (ELBs) remained stable at KRW23.5 trillion. The combined ELS/ELB outstanding amount reached KRW68.7 trillion, down 29.4% YoY, according to a recent report from the Korea Securities Depository (KSD). Ac
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