South Korea’s biggest lenders boost trading desks ahead of 24-hour won trading
Banks are adding traders and upgrading systems in Seoul and London before the won’s near-24-hour FX market opens on July 6, a shift that may deepen market access while testing operations.
Major South Korean banks are expanding foreign-exchange trading teams and upgrading operations in Seoul and London ahead of the won’s near-24-hour FX market launch on July 6. Woori Bank sent eight more staff to London, Hana Bank added Seoul traders and moved to three-shift rotations, while Shinhan Bank and KB Kookmin Bank are also increasing headcount and systems. The change is intended to strengthen the won’s integration with global markets and give exporters more flexibility to manage currency risk beyond domestic trading hours, though longer trading windows could also bring higher volatility.
- foreign-exchange trading: The buying and selling of currencies in the FX market.
- 24-hour FX market: A market structure that allows currency trading to continue almost around the clock across time zones.
- volatility: The degree to which prices fluctuate over time.