SEOUL, Apr 13 (Reuters): South Korea's finance minister will lobby for the country to be included in the Morgan Stanley Capital International (MSCI) developed market index when he meets the index provider next week, he said on Tuesday.
"Inclusion in the developed market index is necessary and already overdue," Hong Nam-ki said at a news conference with foreign media in Seoul.
Hong said the won - currently at around 1,230 to the dollar - is at one of the weakest levels he has ever seen and that the government is ready to deploy market stabilizing measures if needed.
Asia's fourth largest economy is seeking inclusion on an MSCI watchlist by June.
The absence of an offshore currency market for the won has been one of the main obstacles South Korea has faced in its efforts to be promoted from the MSCI emerging market index to the developed market.
The outgoing finance minister said some of the measures on the table for discussion would be extending trading hours and allowing overseas FX dealers to participate in the market, but he did not provide further details when asked.
S. Korea to lobby for inclusion in MSCI developed market index
FE Team | Published: April 13, 2022 21:42:41
S. Korea to lobby for inclusion in MSCI developed market index
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