SEOUL (Reuters) – South Korea plans to allow overseas financial institutions to participate in the country’s foreign exchange market from the fourth quarter of the year, the finance ministry said on Wednesday.
The ministry said foreign institutions will be allowed to register for participation in foreign exchange trading in the fourth quarter, after legislation is revised.
Registered foreign institutions will be able to take part in the market in pilot mode from the first quarter of 2024.
(Reporting by Jihoon Lee; Editing by Ed Davies)
