South Korea's Ministry of Finance announced plans to implement 24-hour foreign exchange trading starting in July, aiming to ease onshore trading restrictions and achieve developed market status. The initiative is part of a broader strategy to internationalize the Korean won, with a roadmap set for the first half of the year to enhance the won's availability and demand through offshore financing. The move follows previous efforts to extend trading hours and allow foreign institutions to trade the won overseas, as South Korea seeks inclusion in major global stock indices. The Ministry also plans to introduce a new offshore won trading system, relax reporting requirements, and simplify the registration process for market participants, boosting trading demand through cross-border payment settlements and overseas financing.
South Korea to Launch 24-Hour Forex Trading in July
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