Overview
- Finance Minister Koo Yun-cheol met AMCHAM chair James Kim in Seoul to discuss policies to raise Korea’s standing as a global financial hub, and both sides pledged ongoing public–private cooperation.
- The finance ministry pointed to a roadmap for entry into MSCI’s Developed Market Index, which would signal stronger market standards and can pull in index-tracking foreign funds.
- Officials said they plan to run a 24-hour foreign-exchange market so global investors can trade the won at any time, which is meant to boost liquidity and access.
- The government also aims to set up an offshore won settlement system that lets banks clear and settle won transactions outside Korea, reducing friction for cross-border deals.
- AMCHAM published a Financial Hub Agenda with 39 proposals and 10 priorities that call for clearer rules, alignment with international norms, and broader market access as Korea competes with Singapore and Hong Kong.