Overview
- The Finance Ministry released a coordinated roadmap to internationalize the won and address MSCI criteria across FX access, investor registration, clearing and settlement, information flow, and instruments.
- Onshore FX trading will run around the clock from July 2026 with supporting steps that include an offshore won settlement system, a push to add the won to the Refinitiv World Market benchmark rate, and simplified registration and reporting for overseas institutions.
- Authorities will implement full omnibus account settlement and accelerate a Legal Entity Identifier–based investor ID system to streamline post‑trade processing and reduce operational frictions.
- The government aims for placement on MSCI’s watch list in June 2026 with possible developed‑market inclusion as early as 2027 and potential index‑tracking inflows in 2028, contingent on reforms and MSCI’s assessment.
- Further measures include refining short‑selling rules, moving up mandatory English disclosures for listed firms under review to March 2027, and expanding overseas access to Korean equity derivatives.