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South Korea Starts 24-Hour Won Trading to Broaden Market Access
South Korea began continuous foreign-exchange trading for the Korean won on Monday. Officials said the change responds to investor demand and follows the country's inclusion in a global bond index.
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Finance officials said the move aims to improve foreign investors' access to domestic financial markets.
m. m. m. window. Officials described the latest step as a response to growing foreign participation in South Korean assets. Finance Minister Koo Yun-cheol visited a Seoul dealing room to mark the opening. He said the 24-hour system reflects the country's external financial position and its recent addition to the World Government Bond Index.
"The launch of the 24-hour trading system reflects South Korea's confidence in its economic fundamentals, including its strong external soundness and record-breaking current account surplus," Koo said. Bank of Korea officials stated they will monitor market effects and continue policy work with the government to expand the foreign-exchange market's depth.
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