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South Korea to Free Up Foreign-Exchange Rules for Brokerages

April 15 (Bloomberg) -- 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;

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