KRW-USD trading from July 6 will be available 24 hours on the foreign exchange market. Shown is a display on June 1 at the trading room of Hana Bank headquarters in Seoul's Jung-gu District showing the main stock market KOSPI breaking 8,600 for the first time in history in intraday trading. (Yonhap News)

By Aisylu Akhmetzianova

Trading hours for KRW-USD on the foreign exchange market will be 24 uninterrupted hours a day from July 6.

The Seoul Foreign Exchange Market Committee on May 31 said it resolved to amend the Seoul Foreign Exchange Market Code of Conduct containing such content in its general meeting on May 29.

Trading had been available on weekdays from 9 a.m. to 2 a.m. the next day, but this will be expanded to 6 a.m. on Monday through 6 a.m. on Saturday during Daylight Saving Time in New York. Such hours will be from 7 a.m. on Monday to 7 a.m. on Saturday at all other times.

KRW-USD trading will be available 24 hours daily including public holidays in Korea except for weekends or Jan. 1. But settlements made on public holidays will be processed on bank business days based on standard market practices.

The committee said it expects the measure to not only resolve time gaps in foreign exchange trading but also raise convenience in currency exchange for domestic and international investors and trading companies and slash transaction costs.

aisylu@korea.kr