S. Korea extends won-dollar FX market hours to 2 a.m.

South Korea's foreign exchange market for won-U.S. dollar transactions was extended until 2 a.m. starting Monday as part of the government's efforts to enhance investors' convenience and improve market access, the finance ministry said. The operating hours of the won-U.S. dollar exchange market was extended to 9 a.m.-2 a.m. the following day, versus the current 3:30 p.m. close, according to the Ministry of Economy and Finance. Starting Monday, registered foreign institutions, or RFIs, was able to take part in the interbank forex market. So far, only certified Korean financial firms have been allowed to join the market. South Korea has been pushing for deregulation measures in an effort to attract more foreign investors and align the financial market with global standards. Source: Yonhap News Agency