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

PANews July 19 news: According to Jintoutai, the South Korean Ministry of Finance said on Sunday that it plans to allow foreign financial institutions to borrow won through a temporary overdraft arrangement, and to allow them to use won-denominated bonds as collateral in financial transactions. These measures are part of incentive policies introduced to encourage the use of the won, aiming to transform the won from a restricted domestic currency into a more globally used currency. Since July 6, South Korea has extended trading hours in the USD/KRW market to a 24-hour trading system, marking the shift of South Korea’s long-closed currency toward openness.

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