South Korea may ban foreign banks from arranging global bond deals
MUFG•South Korea is considering barring investment banks without domestic securities licenses from arranging offshore bond sales by local issuers. South Korean companies reportedly issued $53.1 billion in foreign-currency bonds in the first half of 2026, up 33% from a year earlier.
1. Possible licensing restrictions
South Korea is considering prohibiting investment banks without domestic securities licenses from arranging offshore bond sales for local issuers, a Ministry of Finance and Economy official said. The ministry is gathering feedback from banks with domestic licenses, and the ministry and market regulator plan to announce a decision after collecting market views.
2. Banks and issuance figures
MUFG and ANZ, which the official said do not hold South Korean securities licenses, have arranged among the largest volumes of overseas debt fundraising and would be subject to the planned restrictions. Major underwriters arranged $53.1 billion in foreign-currency bond issuance for South Korean companies in the first half of 2026, a 33% increase from the same period a year earlier.
