SEOUL : South Korea unveiled on Tuesday details of a long-touted plan to expand its currency spot and swap markets to offshore players as it strives to make its stock and bond markets more attractive to global investors.
If implemented as planned, it would mark the most dramatic change in the inter-dealer won market since the Asian financial crisis of late 1990s, when the country turned to a free-floating foreign exchange system from a tightly managed one. They said they would put these changes into force from late 2024 after completing legal and administrative adjustments.
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