South Korea Asks Banks for Help When Won’s Trading Hours Extend
- Official’s remarks come amid concerns on maintaining liquidity
- Country has been testing systems before official start Monday
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South Korea urged local banks and financial companies to actively participate in trading the onshore won when hours extend next week.
Domestic institutions “need to play a leading role in active market making during the extended hours” to create “a virtuous circle in which other participants will find the Korean foreign-exchange market attractive,” said Choi Ji-young, the finance ministry’s deputy minister for international affairs, in a statement from a meeting with local market participants.