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Korea’s Bid For The Won To Go Global
Published 1 month ago
Description
South Korea has unveiled a roadmap to internationalise the won — allowing foreigners unlimited won transactions through registered firms from January 2027, on the heels of extending trading to 24 hours a day. The goal: shed the barriers that have kept the world's 13th-largest economy classified as an emerging market by MSCI. But can Seoul open up its currency without inviting the volatility it has long guarded against? Stephen Chiu, Chief Emerging Markets FX Strategist at Bloomberg Intelligence, weighs in on what these reforms mean for the Won, foreign investors, and Korea's long-awaited developed-market upgrade.
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