South Korea's Ministry of Economy and Finance said after the second plenary meeting of its International Financial Policy Advisory Committee that it will publish a won internationalization roadmap in July and continue a phased push to make KRW more freely usable in offshore markets. The plan centers on improving KRW trading and settlement infrastructure and updating the institutional framework so foreign investors can obtain and use KRW more easily offshore. As part of that agenda, the ministry confirmed that the foreign exchange market will move to full 24 hour trading on July 6 and that an offshore KRW settlement system will be introduced in January 2027. The meeting focused on key measures to strengthen the global competitiveness of South Korea's foreign exchange and capital markets, including won internationalization, the longer foreign exchange market trading window and the offshore settlement system. Advisory committee members said policy conditions are now sufficiently mature for won internationalization and foreign exchange market modernization, and stressed the need for consistent implementation over the medium to long term. They also called for greater policy predictability, continued communication with overseas investors and stronger external risk management as market openness and market depth expand. The ministry also addressed recent market conditions, saying foreign exchange volatility has risen amid increased expectations of further United States Federal Reserve rate hikes and continued net selling of South Korean equities by foreign investors. It said the authorities have sufficient response capacity and are prepared to take immediate market stabilization measures if exchange rate moves become disconnected from fundamentals and one sided pressures intensify. The government plans to keep advancing its foreign exchange and capital market reform agenda, regularize communication with major global financial institutions and use the advisory committee to monitor risks and refine further policy tasks.
Ministry of Economy & Finance (South Korea)2026-07-02
South Korea's Ministry of Economy and Finance to publish won internationalization roadmap in July and introduce offshore KRW settlement in January 2027
South Korea's Ministry of Economy and Finance said it will publish a won internationalization roadmap in July, extend foreign exchange trading to 24 hours from July 6 and introduce an offshore KRW settlement system in January 2027. The measures are intended to improve offshore access to KRW through better trading, settlement and market access arrangements. The ministry also said it is ready to take market stabilization measures if exchange rate moves become detached from fundamentals and one sided pressures intensify.