24-Hour Era Begins for Foreign Exchange Market: "A Starting Point for the Globalization of the Won"

From 6 a.m. on July 6, Five-Day 24-Hour Trading Begins
Trading Opens with Samsung Electronics' First Sale
Deputy Prime Minister Koo Yoon-chul Inspects Hana Bank Dealing Room
"We Will Make Korea's FX Market One of the Most Advanced in the World"

"How has your experience been trading since the extension of foreign exchange market trading hours?" (Deputy Prime Minister and Minister of Economy and Finance Koo Yoon-chul)

"With expanded global geopolitical risks and increased exchange rate volatility, we have high expectations, as export companies can now respond immediately." (Samsung Electronics Finance Team)

On the morning of the 6th, Deputy Prime Minister and Minister of Economy and Finance Koo Yoon-chul, Deputy Governor of the Bank of Korea Kwon Min-soo, and Hana Chairman Ham Young-joo visited the Hana Bank dealing room in Jung-gu, Seoul, where they discussed the 24-hour foreign exchange market trading with Samsung Electronics’ Finance Team and Hana Bank’s London branch via video conference. 2026.7.6 Photo by Jo Yongjun

On July 6, Deputy Prime Minister Koo visited the foreign exchange dealing room at the Hana Bank headquarters in Jung-gu, Seoul to inspect the launch of the 24-hour foreign exchange market. He gathered feedback from market participants via video conference. Present at the site were Deputy Prime Minister Koo, Kwon Min-soo, Deputy Governor of the Bank of Korea, Moon Ji-sung, Director General for International Economic Affairs at the Ministry of Economy and Finance, Ham Young-joo, Chairman of Hana Financial Group, and Lee Ho-sung, President of Hana Bank.

The first transaction in the 24-hour foreign exchange market, which opened at 6 a.m. that day, was initiated by Samsung Electronics with a sale of 10 million dollars. Joo Min-keun, Samsung Electronics Finance Team Manager, stated, "Until now, it was difficult for companies to respond between 2 a.m. and 9 a.m., even if various economic indicators were released overseas or exchange rate volatility increased significantly during that time. With 24-hour trading now possible, it will greatly help export companies manage their foreign exchange risks."

Starting this day, the domestic foreign exchange market transitioned to a five-day, 24-hour trading system. As a result, participants can now trade the won-dollar pair seamlessly from 6 a.m. on Monday until 6 a.m. on Saturday. This change comes two years after the government extended foreign exchange market operating hours in July 2024, allowing trading until 2 a.m. the following day.

The government emphasized that the launch of the 24-hour foreign exchange market means more than just an extension of trading hours. Deputy Prime Minister Koo said, "This is a foreign exchange market reform reflecting the fundamentals of our economy—demonstrated by robust external soundness, a record-high current account surplus, and inclusion in the World Government Bond Index (WGBI)—as well as high demand from foreign investors."

The government expects that with domestic foreign exchange trading now matching the accessibility and convenience of advanced markets like New York and London, the attractiveness of the local capital market and the won will also increase. Deputy Prime Minister Koo stressed, "By enabling round-the-clock foreign exchange trading, market participants—including exporters and importers managing currency risks and domestic financial institutions and brokers seeking to expand their businesses—will benefit from new opportunities and advantages. This will serve as a starting point for the global leap of the Korean won."

Lee Sung-pil, Head of Hana Bank’s London branch, stated, "We will actively seek out local demand for won foreign exchange (FX) trading." Deputy Governor Kwon also commented, "The depth and breadth of the foreign exchange market will expand," urging market participants to help activate won liquidity.

The government plans to focus on minimizing risks that may arise during the initial phase of the 24-hour foreign exchange market. Deputy Prime Minister Koo said, "While there will be opportunities in the trading process, risks are also expected. Ensuring stability in the foreign exchange market and institutional settlement are the most important tasks." He added, "We will support smooth trading through 24-hour uninterrupted monitoring, and will steadily pursue follow-up foreign exchange market reforms, such as establishing an offshore payment system to enable 24-hour settlement."

This content was produced with the assistance of AI translation services.