South Korea has failed to be added to the World Government Bond Index (WGBI) run by FTSE Russell, the London-based organization said Thursday. South Korea will remain on the FTSE's watch list for a potential upgrade to a market accessibility level of 2 from 1 and inclusion in its WGBI to be published in September 2024, according to the FTSE Russell. The country was added to the WGBI watch list in September 2022 and must wait until September this year to see if it will be included in the index when the financial entity announces its decision. The WGBI is a broad index designed to measure the performance of government bond markets, including local currencies and sovereign bonds of major advanced nations. The index operator said it will keep tabs on Seoul's implementation of reform measures and market responses before making a decision. South Korea has been pushing for its inclusion in the global bond index, which it hopes will help attract foreign investment and raise investor confidence in its government bonds. South Korea and India are the only countries among the world's top 10 economies in terms of nominal gross domestic product that have yet to be included in the bond index. Source: Yonhap News Agency