South Korean Finance Minister Choo Kyung-ho (4th from L) attends a ceremony at the London Stock Exchange in the British capital on Nov. 23, 2023, to mark the opening of the day’s trading session at the market, in this photo released by the finance ministry. (Image courtesy of Yonhap)
SEOUL, Nov. 24 (Korea Bizwire) — Finance Minister Choo Kyung-ho has vowed to continue efforts to boost foreign investors’ access to the South Korean market and create favorable conditions for corporate investment, his office said Friday.
Choo made the remarks during a market opening ceremony at the London Stock Exchange on Thursday (local time), as he has been in London since Monday on a four-day trip to accompany President Yoon Suk Yeol, according to the Ministry of Economy and Finance.
It marked the first time that a South Korean government figure attended the daily ceremony, it added.
“South Korea will use new cooperation channels on economy and finance established following the summit to create favorable investment circumstances for companies and financial institutions of the two nations,” Choo said in a speech.
He also introduced the country’s efforts to attract offshore investors, such as allowing foreign companies’ participation in the domestic foreign exchange market and pushing to extend the market operating hours.
Ahead of the ceremony, Choo held a meeting with David Schwimmer, CEO of the London Stock Exchange Group (LSEG), and asked for his support for South Korea’s push to be included in the World Government Bond Index (WGBI).
South Korea has been on the watchlist for a potential upgrade of its government bond market in the FTSE Russell’s WGBI since September 2022.
In response, Schwimmer recognized Seoul’s effort to join the WGBI and vowed to continue to pay attention to the issue, according to the ministry.
FTSE Russell is a subsidiary of the LSEG.
(Yonhap)
