South Korea to allow foreign financial firms to trade won onshore

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South Korea to allow foreign financial firms to trade won onshore
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SEOUL (Reuters) - South Korea said on Tuesday it will begin accepting applications starting Oct. 18 from foreign financial institutions for permits to ...

SEOUL - South Korea said on Tuesday it will begin accepting applications starting Oct. 18 from foreign financial institutions for permits to participate in the onshore dollar-won interbankSEOUL - South Korea said on Tuesday it will begin accepting applications starting Oct. 18 from foreign financial institutions for permits to participate in the onshore dollar-won interbank market.

Currently, the Korean won can only be directly traded with the dollar through local banks, for just six-and-a-half hours a day between 9 a.m. and 3:30 p.m.

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