To boost the Korean Won, South Korea plans to expand the scope of foreign bond trading and collateral in the won.

Odaily reports that South Korea's Ministry of Economy and Finance stated on Sunday that it plans to allow foreign financial institutions to borrow the Korean Won through temporary overdrafts and permit them to use won-denominated bonds as collateral in financial transactions. These measures are part of incentive policies aimed at encouraging the use of the won, seeking to transform it from a restricted local currency into a more global one. Since July 6, South Korea has extended the trading hours of the USD/KRW market to a 24-hour trading system, marking the opening of the country's long-closed currency. (Jinshi)