South Korea Officially Launches 24-hour Trading Mechanism for the USD/KRW Spot Foreign Exchange Market

Odaily Odaily Planet Daily News South Korea officially launched a 24-hour trading mechanism for the onshore spot USD/KRW market on Monday to enhance the convertibility of the Korean Won and strive for developed market status in the MSCI Global Index. According to the new mechanism, South Korea's onshore spot foreign exchange market will open at 6:00 AM every Monday and trade continuously until 6:00 AM Saturday, achieving 120 hours of continuous trading per week. South Korean Finance Minister Choi Sang-mok stated that this move will become "an important starting point for the globalization of the Korean Won." (Reuters)