South Korea unveiled its boldest step yet to liberalize the forex market, outlining a detailed plan to make the won freely tradable among foreigners and move it toward full convertibility. The initiative is aimed at increasing FX access for non-residents and improving currency openness, which should be supportive for foreign participation. Near-term market impact is likely most concentrated in South Korea FX/sovereign and cross-border flow-sensitive assets.
South Korea unveiled its boldest step yet to liberalize the forex market, outlining a detailed plan to make the won freely tradable among foreigners and move it toward full convertibility. The initiative is aimed at increasing FX access for non-residents and improving currency openness, which should be supportive for foreign participation. Near-term market impact is likely most concentrated in South Korea FX/sovereign and cross-border flow-sensitive assets.
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