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Korea to Extend Onshore FX Trading Hours to Lure Investors

  • Onshore market will eventually be allowed to trade 24 hours
  • Authorities will detail further development plans next quarter
Updated on

South Korea will extend trading hours for its onshore foreign-exchange market to 2 a.m. local time in a bid to attract more foreign investors. 

The move is part of a plan to eventually allow the onshore market to trade around the clock, the finance ministry said in a statement without detailing when the new hours will take effect. The authorities will also permit foreign financial institutions to participate directly in the domestic interbank market without establishing a presence in the country.