South Korea moves to open won market

The move is part of efforts by South Korean authorities to give foreign investors more access to its markets. — Bloomberg

SEOUL: South Korea will begin accepting registrations from foreign investors to trade the won onshore, taking its first step to open up its currency market to global traders.

The government will take applications from foreign financial institutions that are willing to trade the onshore won using the local interbank foreign exchange market, the Finance Ministry said in a statement yesterday.