To boost the Korean won, South Korea plans to expand the scope of foreign investment in Korean bonds and collateral.

The South Korean Ministry of Finance announced on Sunday that it plans to allow foreign financial institutions to borrow Korean won through temporary overdrafts and to use Korean won denominated bonds as collateral in financial transactions. These measures are part of incentive policies introduced to promote the use of the Korean won and to transform it from a restricted domestic currency to a more global currency. Since July 6th, South Korea has extended the trading hours of the US dollar/Korean won market to 24-hour trading, signaling that the long-closed currency of South Korea is moving towards openness.