The won never sleeps
South Korea’s currency market is inching toward a landmark change: 24-hour trading for the won. That sounds a little boring if you’re not a currency nerd, but for dealers it’s basically the financial equivalent of turning the lights on in the office and never flipping them back off.
Why people are nervous
The appeal is obvious. A round-the-clock market can make the won easier to trade, especially when global headlines hit outside Seoul’s usual business hours. But the downside is just as obvious: more nonstop price swings, more pressure on dealers, and more chances for a surprise move to become a very expensive problem.
The article nods to traders who’ve already lived through the big stuff — Lehman, Brexit, and South Korea’s own political shock in 2024 — as a reminder that FX markets can go from sleepy to feral in seconds.
Big picture
If 24-hour trading takes hold, it could make South Korea’s currency market more global and more competitive. But it also means the old “let’s wait until the morning” playbook may be dead. For investors, that’s a reminder that market access and market stability don’t always show up to the same party.