According to Bloomberg, the South Korean won swap market is currently pricing in about a 70% probability of a cumulative 50 basis point rate hike by the Bank of Korea over the next six months. Strategists at firms such as Gama Asset Management and Hana Securities expect South Korea's 3-year and 10-year government bond yields to resume their upward trend. South Korea's First Vice Minister of Finance and Economy Lee Hyoung Il stated that the government may further reduce planned bond issuance and could initiate emergency buyback operations to curb excessive yield volatility.