South Korea Expands Foreign Investment in Korean Bond Trading and Collateral Scope

The South Korean Ministry of Finance plans to allow foreign financial institutions to borrow Korean won through temporary overdrafts and to use won-denominated bonds as collateral in financial transactions. These measures are part of an incentive policy aimed at encouraging the use of the won, transforming it from a restricted domestic currency into a more globally recognized currency. Since July 6, South Korea has extended the trading hours for the USD/KRW market to a 24-hour trading system, marking a shift towards the opening of its long-closed currency.

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