Overview
- The onshore market formally began near‑24‑hour trading this week, running roughly from 6 a.m. Monday to 6 a.m. Saturday during U.S. daylight‑saving time.
- Officials including the finance minister and Bank of Korea deputies said they will monitor markets around the clock and are prepared to step in if exchange‑rate moves become detached from economic fundamentals.
- Early trading was muted as the new hours started, with the won easing about 0.1 percent to roughly 1,531 per dollar on the first day of continuous trading.
- A core aim of the reform is to shift pricing from offshore nondeliverable forwards, which still account for about 80 percent of won forward activity, to strengthen onshore price discovery and support Korea’s push toward developed‑market status.
- Market participants warn that thin overnight liquidity could amplify volatility during overnight sessions, so authorities plan gradual technical changes to benchmarks and expanded round‑the‑clock surveillance to protect corporate hedging and market stability.