South Korea plans to allow brokerages to perform a wider range of foreign-exchange transactions from April 30, according to an e-mailed statement from the Ministry of Strategy and Finance.
Brokerages will be able to convert currencies for investment banking purposes. Previously they were only allowed to do foreign-exchange transactions for investors wanting to buy securities, the ministry said in the statement.
To contact the reporters on this story: Jiyeun Lee in Seoul at firstname.lastname@example.org;
To contact the editors responsible for this story: Sandy Hendry at email@example.com;