SEOUL, Jan 9 (Reuters) – South Korea said on Friday it will open up its currency market to allow 24-hour trading starting in July, further removing restrictions on onshore trading in a bid to win an upgrade to developed-market status, the finance ministry said.
After experiencing capital flight during the Asian Financial Crisis in the late 1990s, South Korea has maintained a restricted currency-trading regime, which Morgan Stanley Capital International (MSCI) has called an impediment in securing a long-anticipated upgrade to developed-market status.
Sign up here.
South Korea to open FX market around the clock, in bid for MSCI upgrade
