SEOUL - Finance Minister Choo Kyung-ho has pledged to improve access for foreign investors in the South Korean market and create favorable conditions for corporate investments.
According to Yonhap News Agency, During a market opening ceremony at the London Stock Exchange on Thursday, Minister Choo, who accompanied President Yoon Suk Yeol on a four-day trip to London, emphasized South Korea's commitment to fostering a favorable investment environment. The Ministry of Economy and Finance noted that this was the first instance of a South Korean government representative attending the exchange's daily ceremony.
Choo's speech highlighted South Korea's initiatives to attract offshore investors, including allowing foreign companies to participate in the domestic foreign exchange market and proposing extended market operating hours. He also underscored the establishment of new economic and financial cooperation channels following the recent summit, aimed at benefiting companies and financial institutions of both nations.
In a meeting with David Schwimmer, CEO of the London Stock Exchange Group (LSEG), Choo sought support for South Korea's inclusion in the World Government Bond Index (WGBI). Since September 2022, South Korea has been on the watchlist for a potential upgrade in its government bond market by FTSE Russell, a subsidiary of the LSEG. Schwimmer acknowledged Seoul's efforts towards joining the WGBI and expressed continued interest in the matter.