To boost the Korean Won, South Korea plans to expand foreign investment in Korean bonds and collateral scope

Odaily reported that the South Korean Ministry of Finance stated on Sunday that it plans to allow foreign financial institutions to borrow Korean Won through temporary overdrafts and permit them to use Korean Won-denominated bonds as collateral in financial transactions. These measures are part of incentive policies introduced to encourage the use of the Korean Won, aiming to transform it from a restricted local currency into a more global one. Starting July 6th, South Korea has extended the trading hours of the Dollar/Korean Won market to a 24-hour trading system, marking the opening up of the country's long-closed currency. (Golden Ten)