South Korean banks expand trading teams to prepare for 24-hour KRW trading

Golden Ten Data reported on July 2 that major South Korean banks are expanding their foreign exchange trading teams and strengthening their presence in both Seoul and London to prepare for the upcoming 24-hour KRW foreign exchange market. Woori Bank has dispatched eight additional employees to its London office, covering roles in foreign exchange, derivatives, and bond trading. Hana Bank has added more traders in Seoul and implemented a three-shift schedule to ensure 24-hour coverage. Shinhan Bank and KB Kookmin Bank are also increasing their staff and upgrading their systems. This adjustment is in response to the new near 24-hour KRW foreign exchange trading system set to launch on July 6, aiming to enhance market liquidity and promote the internationalization of South Korea's financial markets.