South Korea Embraces 24-Hour Won Trading in Break With Currency 'Trauma'
South Korea is extending won trading to 24 hours, opening up its currency market, Nikkei Asia reports. The move marks a break from the caution rooted in the country's past financial crises.
South Korea is extending won trading to 24 hours, opening its currency market more widely to international investors. According to Nikkei Asia, the change marks a significant break from the long-standing caution the country has maintained in its foreign-exchange market.
After past financial crises, South Korea had adopted a cautious stance on capital flows and currency trading. Round-the-clock trading aims to boost liquidity by making the won easier to buy and sell across global markets.
Officials say the step could support South Korea's goal of having its capital markets upgraded to developed-market status. Analysts note that longer trading hours may draw greater interest from foreign investors, while managing volatility will be important.
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