SEOUL (Reuters) -South Korea plans to open its currency market for around-the-clock trading, giving easier access to foreign investors, President Lee Jae Myung said.
“There is quite a time limit in the currency trading market, but we plan to scrap nearly all of it,” Lee said on Thursday at an investor event in New York, according to a media pool report.
Lee said the government would also address in the near future the lack of offshore won market – a main factor behind global index provider Morgan Stanley Capital International’s (MSCI) classification of South Korea as emerging market.
Since taking office, Lee’s administration has brought various reforms to boost the domestic stock market, including setting up a task force to win developed market status from MSCI, which has sent the bench