SEOUL — South Korea's foreign exchange market experienced ample liquidity and smooth operations on the first day of extended trading hours, according to the Ministry of Economy and Finance. The new trading hours, which now run from 9 a.m. to 2 a.m. the following day, started on Monday, significantly lengthening the previous closing time of 3:30 p.m.
According to Yonhap News Agency, the total spot trading volume on the first day reached US$12.57 billion, with $2.46 billion traded during the newly extended hours from 3:30 p.m. to 2 a.m. Finance Minister Choi Sang-mok, who visited a trading room at Hana Bank in Seoul, emphasized that the extended hours are intended to enhance the competitiveness of South Korea's foreign exchange market and align it more closely with global standards. "The government will continue supporting domestic banks to ensure they lead in the stable implementation of these market changes," Choi stated. Additionally, Bank of Korea Deputy Governor Ryoo Sang-dai highlighted the ongoing efforts to monitor the market and maintain stability amidst the new operational framework.