Published 2026-07-02
Summary: South Korea’s largest lenders are expanding and reorganizing trading desks in London and Seoul ahead of the start of round-the-clock trading for the won, with regulatory approvals for at least one bank’s London operations and preparations for 24-hour won trading in early July 2026.
What We Know
- South Korea’s biggest lenders are expanding trading desks in London and Seoul to prepare for round-the-clock trading of the won starting next week.
- Woori Bank is establishing a London Trading Center, expanding its existing London FX Desk, with regulatory approval from UK authorities (FCA and PRA) to enable derivatives operations and support foreign won bond investment with currency hedging.
- Seoul banks are reorganizing and bolstering London desks ahead of 24-hour won trading.
- The won is expected to begin near-24-hour trading starting early July 2026.
What’s Still Unclear
- Exact date and time when 24-hour won trading begins, beyond “early July 2026.”
- Which other Korean banks besides Woori are expanding London and Seoul desks.
- Whether the 24-hour trading will be global across all venues or limited to certain hours/venues beyond the Seoul market.
Context
In recent years, several Asian and global financial centers have adapted foreign exchange trading hours to accommodate a broader, around-the-clock market. Korea’s institutions are aligning with these developments by expanding trading capacity and reinforcing regulatory compliance to support continuous won trading and related hedging and investment activities.
Why It Matters
Expanded and continuous won trading could affect liquidity, currency risk management, and cross-border investment strategies. Banks’ capacity to offer derivatives and hedging in a 24-hour framework may influence trading costs and market efficiency for participants in Asia, Europe, and beyond.
What to Watch Next
- Announcements from other Korean banks about expansion of London and Seoul trading desks.
- Regulatory updates on the operational scope and timing of the 24-hour won market.
- Market liquidity and pricing behavior as trading hours extend into overnight and early morning sessions.
FAQ
Q: What indicates that the won trading will become round-the-clock?
A: Reports reference preparations for near-24-hour or round-the-clock trading starting in early July 2026, with desks being expanded and reorganized, and regulatory approvals for London operations.
Q: Which institution has obtained UK regulatory approval for its London operations?
A: Woori Bank’s London Trading Center has obtained approval from the FCA and PRA to enable derivatives operations and currency hedging related to won bond investments.
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Source Transparency
- This article is based on a short preliminary brief and may not reflect the full details available in ongoing reporting.
- Source links are provided in the Sources section where available.
- A limited open-web check was used to clarify key details when possible; unclear items remain clearly marked.
Original brief: South Korea’s biggest lenders are boosting trading desks in London and Seoul to prepare for the won’s round-the-clock trading starting next week…
Sources
- South Korean Banks Expand Trading Floors for 24-Hour Won Market
- South Korea's biggest lenders boost trading desks ahead of 24-hour won …
- Korean Banks Bolster Staffing, Reorganize London Desks Ahead of 24-Hour …
- Seoul banks deepen London push for EMEA growth – The Korea Herald
- Woori Bank's London Trading Center Wins UK Regulatory Approval