Earlier this month, South Korea's Vice Minister of Economy and Finance, Bang Ki-Sun, shared that South Korea has plans to loosen restrictions in its currency market to help boost the Korean Won on a more global level, ultimately providing business opportunities for the country's local financial firms.
The Korean government has been compiling a list of measures to be taken with the aim of launching them next July. By allowing qualified global financial firms to directly trade the currency through two onshore spot brokerage houses and doubling the trading hours for the Won until past midnight local time, the Won is not becoming more volatile, but more convertible.
With South Korea overcoming a financial crisis of their own (the Korean Financial Crisis of 1997), they have marked themselves to be one of the world's top 10 economies and is now in the process of expanding on their global market and platform, starting with making their currency tradable outside of the country.
https://www.reuters.com/markets/asia/south-korea-fx-steps-boost-global-status-business-firms-vice-fin-min-2023-02-09/
Can you provide further information on the effects of reduced mortgage market restrictions? According to what I've heard, the house price dropped by 1.98% in December, which is the fastest decline since 2003.
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