Svmuu News: South Korea’s Ministry of Finance announced Sunday that it plans to allow foreign financial institutions to borrow won through temporary overdrafts and to use won-denominated bonds as collateral in financial transactions. These measures are part of an incentive policy introduced to encourage the use of the won, with the aim of transforming it from a restricted domestic currency into a more global currency. Effective July 6, South Korea has extended trading hours in the USD/KRW market to a 24-hour trading system, marking a step toward opening up the country’s long-isolated currency. (Jin Shi)