South Korea has officially launched a 24-hour foreign exchange trading system, marking a significant shift in its forex market operations. Starting Monday at 6 a.m., the new round-the-clock trading schedule allows continuous trading from Monday morning until 6 a.m. on Saturday, a notable extension from the previous hours of 9 a.m. to 2 a.m. the next day on weekdays. This development is expected to enhance the appeal of the Korean won and the country’s capital markets on the global stage.
Finance Minister Koo Yun-cheol described the move as “the starting point for the won’s global leap,” highlighting the government’s confidence in South Korea’s strong economic fundamentals, including a record-breaking current account surplus and robust external soundness. Koo emphasized that this reform reflects growing foreign investor demand for more flexible and accessible foreign exchange and capital markets. He also noted that this change follows Korea’s recent inclusion in the World Government Bond Index, underscoring its rising global financial stature.
The Bank of Korea (BOK) and Ministry of Finance officials, including Deputy Governor Kwon Min-soo, visited Hana Bank’s foreign exchange trading room in Seoul to mark the launch day. The government has worked closely with banks, securities firms, and brokerage companies to prepare for this transition, ensuring infrastructure and regulatory readiness.
The new trading system will provide exporters and importers with real-time opportunities to manage foreign exchange risks more effectively. Additionally, domestic financial institutions are expected to expand their operations under this continuous trading framework. The finance minister also mentioned plans to introduce an offshore won settlement system by January next year as part of ongoing market reforms.
Meanwhile, in Taipei, the U.S. dollar strengthened against the Taiwan dollar, closing above NT$32 at NT$32.025 after opening at NT$31.950. The currency experienced a high of NT$32.079 during the session, with a total turnover of US$2.48 billion. This movement reflects ongoing forex market volatility amid global economic factors.
South Korea’s move to 24-hour forex trading aligns with broader trends among major financial markets seeking greater accessibility and responsiveness to global investors’ needs. By extending trading hours and enhancing market infrastructure, South Korea aims to boost the won’s international competitiveness and better integrate into global financial flows.
Market participants including Hana Bank representatives, exporting companies, and overseas foreign exchange traders expressed optimism about adapting quickly to the new environment. They anticipate that these changes will strengthen Korean companies’ competitiveness worldwide by providing improved tools for currency risk management and investment opportunities.
This landmark shift in South Korea’s forex market represents both an acknowledgment of its growing economic influence and a strategic effort to position the won as a more prominent global currency amid shifting international finance dynamics.
