Korea remains on MSCI emerging market list

Korea has again failed to be put on a watch list for an upgrade in market status by global index provider Morgan Stanley Capital International (MSCI), the index provider said Wednesday, stressing the need for the country to work on its foreign exchange market reform and diversify investment instruments. MSCI said it decided to keep Korea in an emerging market group as market participants have identified the limited convertibility of the Korean won in the offshore currency market as a key barrier to reclassification to a developed market status. The country was initially put on the watch list in 2009 for a potential upgrade of its status to a developed market and inclusion in the MSCI developed market index, but was delisted in 2014 due to flaws such as limits on currency-trading hours. "At that time, other key accessibility issues highlighted were the rigidity of the ID system that made in-kind transfers and off-exchange transactions onerous; and the lack of investment instruments availability due to the restrictions on the use of exchange data for the creation of financial products," MWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times