South Korea Pledges Steps to Stabilize Markets, to Publish Won Internationalization Roadmap in July

South Korea's Ministry of Economy and Finance said on July 8 it will step up efforts to stabilize the economy and financial markets amid a highly volatile environment, including in foreign exchange markets, according to 36Kr. The ministry said that with 24-hour trading for the Korean won already in place, officials will strengthen a 24-hour monitoring system to respond to potential overnight volatility. It also said South Korea will finalize and release a "won internationalization roadmap" in July, aimed at improving the won's convertibility and expanding its use in current-account and capital-account transactions.