The first day of 24/7 KRW trading ran smoothly, with trading volume below the 30-day daily average.

Golden Ten Data reported on July 7 that the Korean won traded relatively steadily on the first day of the 24-hour foreign exchange trading mechanism launch, with trading volume below the average daily level of the past 30 days. According to data from Seoul Money Brokerage Company and Korea Money Brokerage Company, on Monday the total spot trading volume of USD/KRW was about $15.1 billion, 6% lower than the average daily level of the past 30 days. Trading hours have been further extended from the previous 17 hours, closing the gap with the New York trading session. Trading activity was concentrated during Seoul's regular hours, while the London and New York sessions remained typically subdued. The won is currently still more than 2% above its weakest level since 2009. For decades, South Korea has sought to shed its emerging-market status and join the ranks of developed economies to attract more global investors. This initiative represents an unprecedented relaxation of control over the won, marking South Korea's efforts to move away from the long-term policy framework put in place after the 1997 Asian financial crisis nearly led to economic collapse.