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Won's 24/7 Trading Spurs Global Bank Huddles
2 Jul
Summary
- Major South Korean lenders are expanding London and Seoul trading operations.
- This expansion is in preparation for the Korean won's new 24/7 trading.
- Woori Bank has already sent eight staff, including five traders, to its London office.
South Korea's leading financial institutions are intensifying their global trading presence in anticipation of a major market shift. Major lenders are boosting their trading desks in both London and Seoul as they prepare for the Korean won's transition to 24/7 trading, which is scheduled to commence next week. This significant development necessitates enhanced operational capacity and expertise in key international financial hubs.
Woori Bank has already taken substantial preparatory steps by deploying eight staff members to its London office. This contingent includes five experienced traders specializing in foreign exchange, derivatives, and bond markets. This proactive expansion underscores the banks' commitment to adapting to and capitalizing on the new trading regime for the Korean won.
