Finance minister vows to make Korean market more open to foreign investors during U.K. visit

Finance Minister Choo Kyung-ho, center, attends a ceremony at the London Stock Exchange in the British capital on Thursday to mark the opening of the day's trading session at the market. [YONHAP]

Finance Minister Choo Kyung-ho has vowed to boost British investors' access to the Korean market and create favorable conditions for corporate investment during his visit to London.

Choo made the remarks during a market opening ceremony at the London Stock Exchange on Thursday, as he has been in London since Monday on a four-day trip to accompany President Yoon Suk Yeol, according to the Ministry of Economy and Finance.

It marked the first time that a Korean government figure attended the daily ceremony, it added.

"Korea will use new cooperation channels on economy and finance established following the summit to create favorable investment circumstances for companies and financial institutions of the two nations," Choo said in a speech.

He also introduced the country's efforts to attract offshore investors, such as allowing foreign companies to participate in the domestic foreign exchange market and pushing to extend the market operating hours.

Before the ceremony, Choo met with David Schwimmer, CEO of the London Stock Exchange Group (LSEG), and asked for his support for Korea's push to be included in the World Government Bond Index (WGBI).

Korea has been on the watchlist for a potential upgrade of its government bond market in the FTSE Russell's WGBI since September 2022.

Schwimmer vowed to continue to pay attention to the issue, according to the ministry.

FTSE Russell is a subsidiary of the LSEG.

BY PARK EUN-JEE, YONHAP [park.eunjee@joongang.co.kr]