South Korea plans to use part of an expected 63.2 trillion won ($45.3 billion) excess in national tax revenue to reduce treasury bond issuance this year, while conducting emergency buybacks if yields rise excessively. The measures followed a sharp rise in yields on the previous session. On the 29th, the three-year yield fell 0.043 percentage point to 4.076%, while five-year and 10-year yields declined 0.069 and 0.063 percentage point to 4.276% and 4.476%, respectively. The retreat reflected lower overseas yields after the Reserve Bank of Australia raised its policy rate by 0.25 percentage point but signaled further increases were unlikely, as well as government assurances. The 63.2 trillion won estimate exceeded the supplementary-budget forecast, helped by strong semiconductor market conditions. Authorities said the surplus would also support housing, jobs and financial assistance for low- and middle-income households, while investors continued to monitor global borrowing costs and future issuance.