The government is taking steps to solicit opinions from overseas financial institutions and investors regarding measures to improve the foreign exchange market structure and support corporate value-up initiatives.
The Ministry of Economy and Finance (MOEF) announced on March 10 that Shin Joong-beom, director general of the finance ministry’s International Finance Bureau, will host meetings with overseas financial institutions and global investors in New York, New York, in the U.S. on March 11 and 12 (local time).
The meetings are arranged to explain the key contents and progress of the pilot implementation of “Foreign Exchange Market Structure Improvement,” which has been ongoing since January. Additionally, it is aimed at soliciting unreserved opinions from investors regarding the recent government announcement on “Measures to Increase Corporate Value.”
The government expects that it will facilitate increased participation of registered foreign institutions (RFIs) in the South Korean foreign exchange market and enhance global investors’ interest in investing in the domestic capital market through the meetings.
Earlier, First Vice Finance Minister Kim Byung-hwan of the MOEF also held a briefing session for local investors in London. By hosting the meetings in another financial hub like New York, the government expects to broaden the horizon of interest from global financial institutions and investors in the domestic foreign exchange and capital markets.
Meanwhile, the government is advancing efforts to enhance the structure of the foreign exchange market with a focus on encouraging the participation of foreign financial institutions in the domestic foreign exchange market. Additionally, it plans to extend the foreign exchange market opening hours until 2 a.m. the following day. Following a six-month pilot operation, the plan is to officially implement these changes starting July.