South Korea’s finance ministry announced Tuesday that it is set to broaden access to its local currency market by permitting offshore companies to apply for trading rights in the coming month. This move is a part of Seoul’s push to include won securities in major global indexes. The green light for this initiative came after a cabinet meeting led by President Yoon Suk-yeol and these amendments to the foreign exchange rules are scheduled to go into effect on Oct. 18. 

In its pursuit to integrate the won-denominated assets into developed-market indexes and attract increased foreign investment, South Korea is reevaluating