To Boost the Korean Won, South Korea Plans to Expand Foreign Investment in Korean Bonds Trading and Repo Operations
BlockBeats News, July 19th. The South Korean Ministry of Economy and Finance announced on Sunday that it plans to allow foreign financial institutions to borrow Korean won through a temporary overdraft and to use Korean won-denominated bonds as collateral in financial transactions. These measures are part of an incentive policy introduced to promote the use of the Korean won, aiming to transform the won from a restricted domestic currency to a more globally recognized currency.
Since July 6th, South Korea has extended the trading hours of the USD/KRW market to 24-hour trading, signaling the transformation of South Korea's long-isolated currency towards openness. (Oriental Fortune)
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