South Korea's Bold Move to Boost Currency Market

South Korea is taking a big step to make its currency market more open. Starting in July, the country will allow trading 24 hours a day. This change is part of a bigger plan to make the Korean won more accessible worldwide. The goal is to attract more investors and increase demand for the currency. This move comes after South Korea faced challenges during the Asian Financial Crisis in the late 1990s. Since then, the country has had strict rules on currency trading. These rules have been a hurdle in getting an upgrade to developed-market status from MSCI, a major global index provider. The government is also working on other changes. They plan to introduce a new system for offshore trading and make it easier for companies to participate in the market. These efforts aim to boost transaction demand and make the market more competitive.The Korean won has had a tough time recently. It hit its weakest point since 2009 but then rebounded thanks to market-stabilizing measures. The government is also focusing on improving short-selling regulations and making securities transactions easier. South Korea's economy is expected to grow by 2. 0% in 2026, up from previous forecasts. This growth is driven by strong exports and domestic demand. The government is also planning to support key industries like semiconductors, AI, and biopharmaceuticals to boost economic potential. In addition, South Korea is looking to benefit from a $350 billion investment package as part of a U. S. trade deal. This investment will focus on sectors like shipbuilding, nuclear energy, and new U. S. markets. The government is also planning tax incentives to support domestic production.