South Korea to Free Up Foreign-Exchange Rules for Brokerages

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 jlee1029@bloomberg.net;

To contact the editors responsible for this story: Sandy Hendry at shendry@bloomberg.net;

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.