South Korea is set to usher in a new era for its foreign exchange market by introducing 24-hour trading in the Korean won from July 6, marking one of the country's most significant financial market reforms in decades. According to Reuters, local banks have begun trialling the new system ahead of its official rollout, preparing for a shift in trading operations.
The move represents a departure from the tightly controlled currency regime established after the 1997 Asian Financial Crisis. The extended trading hours are expected to improve access for global investors, although they will also require financial institutions to maintain continuous market coverage through expanded staffing and overnight operations.
