Jung Eun-bo, chair of the Korea Exchange (KRX), will promote Korea's capital market to global institutional investors in New York. With the New York Stock Exchange (NYSE), KRX will strengthen cooperation on market infrastructure, including extending trading hours and shortening the settlement cycle.
The Korea Exchange (KRX) said on the 31st that Chair Jung will visit the United States to hold a New York global roadshow and sign a memorandum of understanding (MOU) with the NYSE.
On the 3rd of next month in New York, Chair Jung will co-host the "Korea Exchange Global Roadshow in New York" with Bank of America (BofA) Securities. About 20 major institutional investors, including global asset managers and hedge funds, are expected to attend.
At the roadshow, KRX will present the direction of capital market regulatory improvements it is pursuing with the government and efforts to enhance foreign investors' access to the domestic market. It also plans to gather views to expand global investors' participation in Korea's capital market.
Jung said, "As overseas investors' interest in Korea's capital market grows, we will continue efforts to improve systems to enhance foreign investor access and advance the capital market."
On the same day, Jung will sign an MOU with the NYSE for cooperation in market operations and infrastructure. The two sides agreed to share experience and know-how accumulated during market infrastructure overhauls such as extending trading hours and moving to T+1 settlement.
If necessary, they will form a joint consultative body to continue cooperation. As discussions are underway domestically on measures such as extending trading hours and introducing T+1 settlement to restructure the market, the partnership is expected to serve as a channel to share relevant experience from major overseas exchanges.
Before visiting New York, Jung will also visit Silicon Valley. Jung plans to hold a meeting with local technology companies to hear views on experiences with entering the U.S. market, raising funds, and the local investment environment. Jung will also review recent trends in advanced technology industries, including artificial intelligence (AI).
Jung noted, "This MOU will strengthen cooperation between the two exchanges and serve as a catalyst to boost the competitiveness of both countries' capital markets."