South Korea plans to use part of an expected 63.2 trillion won ($45.3 billion) tax revenue surplus to reduce treasury bond issuance this year. The move is intended to ease upward pressure on yields as higher oil prices and a shift toward monetary tightening in major economies lift global interest rates, alongside domestic factors. Deputy Prime Minister and Minister of Finance and Economy Lee Hyoung-il led the first expanded macroeconomic, fiscal and financial policy meeting since taking office, with senior fiscal, financial and central-bank officials. The government can adjust issuance within the National Assembly-approved ceiling of 225.7 trillion won, including a 109.4 trillion won net issuance ceiling. It will also conduct emergency buybacks, which involve purchasing and redeeming outstanding bonds before maturity, depending on market conditions. The surplus will additionally support housing, jobs and financial assistance for low- and middle-income households.