韩国计划很快启动24小时外汇市场 完善离岸韩元市场

Core Viewpoint - The South Korean government is preparing to transition to a 24-hour trading system for its foreign exchange market, aiming to enhance market accessibility for foreign investors and address the lack of an offshore won market [1][2]. Group 1: Market Opening and Regulatory Changes - South Korea plans to open its foreign exchange market 24 hours a day and relax restrictions on won trading among non-residents, with a roadmap expected by the end of the year [2]. - The current trading hours are from 9 AM to 2 AM the next day, and the government aims to implement these changes sometime next year [2]. - A new settlement system will be established to facilitate 24-hour processing of won payments [2]. Group 2: MSCI and FTSE Russell Inclusion Efforts - The lack of an offshore won market has been a key factor in MSCI classifying South Korea as an emerging market, and the government is making reforms to meet the criteria for inclusion in the MSCI developed markets index [3]. - MSCI has indicated that full currency convertibility and the removal of capital controls are necessary for South Korea to be recognized as a developed market [3]. - The South Korean government is also working towards inclusion in the FTSE Russell Global Government Bond Index, with the timeline for inclusion pushed to April 2026 [5]. Group 3: Market Reactions - Following the announcement, the won depreciated against the dollar, reaching its lowest level since mid-May at 1410.8, with further declines observed [4].