In order to boost Korea's foreign debt, we're going to expand the scope of foreign debt deals and mortgages

On Sunday, 19 July, the Korean Ministry of Finance indicated that it planned to allow foreign financial institutions to borrow the Korean Won through temporary overdrafts and to use Korean Won-denominated bonds as collateral in their financial transactions. These measures are part of an incentive policy introduced to encourage the Korean Won to use it, with the aim of transforming it from a restricted local currency to a more global one. As of 6 July, the Republic of Korea has extended the United States dollar/Korean dollar market to a 24-hour trading system, marking the opening of its long-term closed currency。