The government will establish a new "Global Core Investor Council" bringing together overseas investors and domestic financial institutions to build a permanent communication channel.

According to the Ministry of Economy and Finance on Thursday, Moon Ji-seong, the ministry's international economic affairs coordinator, unveiled plans to operate the council after completing investor relations roadshows in London on Monday and Singapore on Wednesday.

The council will be chaired by the ministry's international economic affairs coordinator and will include the Financial Services Commission, the Bank of Korea, the Financial Supervisory Service, the Korea Exchange and the Korea Securities Depository, alongside major overseas investment institutions such as global asset managers and investment banks.

The central building of Government Complex Sejong in Eojin-dong, Sejong, where the Ministry of Economy and Finance is located [Newsis]
The central building of Government Complex Sejong in Eojin-dong, Sejong, where the Ministry of Economy and Finance is located [Newsis]

Through the council, the government plans to keep overseas investors informed of improvements to its foreign exchange and capital market regimes and use the channel to identify and address difficulties that arise during the investment process.

At the roadshows — attended by representatives of global asset managers including BlackRock, Amundi and Schroders, sovereign wealth funds, and major investment banks including Goldman Sachs — Moon outlined Korea's solid growth trajectory and explained the "3·4·5" targets and policy direction in the government's second-half economic growth strategy.

During the question-and-answer sessions, participants focused on Korea's strong growth outlook, how additional tax revenue from an improving semiconductor cycle might be deployed, the sustainability of semiconductor industry growth, responses to share market volatility, and plans to internationalize the won.

On the outlook for the won exchange rate, Moon said the shift in foreign exchange supply and demand driven by increased spot and forward dollar sales by export companies in shipbuilding and semiconductors "is not a temporary phenomenon and is likely to continue." He added that "the current value of the won remains undervalued relative to Korea's economic fundamentals, leaving room for further appreciation."

On managing geopolitical risks in the Middle East, Moon said the government would expand domestic production and strategic stockpiling of key commodities and strengthen supply chain stability and energy security through investment in overseas production bases and long-term purchase contracts, taking into account Korea's heavy dependence on energy imports.

Moon also held separate foreign exchange market briefings for registered foreign institutions in London and members of the Global Financial Markets Association's foreign exchange division in Singapore, presenting updates on improvements to the registered foreign institution regime, progress on foreign exchange market reform, and the won internationalization roadmap.

Participants expressed support for the push to internationalize the won and gave a positive assessment of the government's policy direction, the ministry said, adding that they showed strong interest in how an offshore won payment system would operate and how won liquidity could be supplied during overnight hours.

Moon said the government would continue pursuing regulatory improvements to broaden market participation — including building infrastructure to allow overseas investors to trade, hold and settle won more conveniently through their existing foreign correspondent banks, and establishing a private-sector-led liquidity supply framework.


y2k@heraldcorp.com