Hana Bank said Thursday it signed a memorandum of understanding with Next Securities to improve the trading environment for overseas investors in Korea’s stock market.
The agreement aligns with government efforts to open up local markets, including reforms to the foreign exchange system and the introduction of stock trading accounts for foreign investors.
Under the deal, the two firms will cooperate on foreign exchange and foreign securities custody services. Key initiatives include sharing real-time exchange rate data via an FX API, providing custody services to facilitate domestic trading, and enabling 24-hour access to real-time exchange rates.
The measures are expected to ease trading constraints for foreign investors, particularly those related to limited won-dollar trading hours, and improve post-trade disclosure services.
“With Next Securities, we are laying the groundwork for Korea’s FX and stock markets to expand globally,” said Cho Beom-jun, head of Hana Bank’s capital markets division.
Next Securities CEO Kim Seung-yeon said the partnership will help build the infrastructure needed for foreign exchange and trust services ahead of the firm’s planned financial investment offerings.
By Lee Han-gyoul (stlee0329@heraldcorp.com)
