Foreigners sold 16 trillion won worth of government bond futures last month...The biggest in more than three years.

Foreign selling also rose in the government bond market due to political instability caused by emergency martial law.

Foreign investors sold a net 15.89 trillion won worth of Korean government bonds in the government bond futures market last month.

It is the largest net sale in three years and three months since the 21.35 trillion won sale in September 2021.

Although the U.S. Federal Reserve sent a hawkish message and judged that the global interest rate cut would be delayed, some analysts say that Korea's political instability has stimulated the sell-off.

Foreign investors' holdings of treasury bonds also fell by about 3 trillion won last month.

But the government said there were also net selling in March, when government bonds matured, and seasonal factors overlapping until the year-end book close, making it difficult to judge it as an outflow due to political uncertainty.

The government is scheduled to issue 197 trillion won worth of all-time treasury bonds, including 80 trillion won in net issuance, raising concerns that procurement costs will increase if the sale of government bonds begins in earnest.