South Korea's efforts to enhance global financial market profile hindered by tight currency restrictions.
South Korea's efforts to boost its global financial market profile are hampered by tight currency restrictions, with authorities considering modest steps such as extending trading hours. Despite being one of the world's most advanced economies, South Korea's classification as an emerging market is due in part to its currency management. The country's arcane restrictions on cross-border transactions, daily reporting requirements, and broker rules make doing business slow and costly.
March 25, 2024
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