South Korea to Set Up FX Reform Panel With Offshore Banks

South Korea will form a panel for regular discussions with offshore banks to improve its foreign exchange market, another step to address key hurdles in its bid to join a major developed-market stock index.

“We had a call this afternoon with the five leading registered offshore foreign institutions,” said Jung Yeu Jin, director of the foreign exchange market division at the finance ministry on Tuesday. “The channel will be used to gather opinions from foreign investors, and in particular, we plan to actively listen to voices related to the MSCI index inclusion issue.”