FX.co ★ South Korea Eyes Developed Market Status with New Roadmap

South Korea is set to devise a strategic roadmap within this year aimed at elevating its stock market from emerging to developed market status in MSCI's classification, as announced by Acting Finance Minister Lee Hyoung-il on Tuesday. This move is in line with President Lee Jae Myung’s reform agenda to increase foreign capital inflow. "By elevating our status to the MSCI developed market index, we aim to create an investment atmosphere that meets global standards and enhance our foreign exchange and capital markets," Lee stated at a task force meeting. The planned blueprint will focus on enhancing market accessibility and implementing rapid reforms. Recently, MSCI retained South Korea in its emerging market index, citing the necessity for further advancements—particularly in the foreign exchange market—while acknowledging improvements in access to short selling.