South Korea Officially Launches 24-Hour Trading Mechanism for Spot USD/KRW Market

Odaily Odaily reports that South Korea officially launched the 24-hour trading mechanism for the domestic spot USD/KRW market on Monday, aiming to enhance the convertibility of the Korean won and pursue developed market status in the MSCI Global Index. Under the new mechanism, the domestic spot foreign exchange market will open at 6:00 AM every Monday and trade continuously until 6:00 AM on Saturday, achieving 120 consecutive hours of trading each week. South Korean Finance Minister Choi Sang-mok stated that this move will serve as "an important starting point for the Korean won to move towards globalization." (Reuters)