Seoul to continue push for MSCI developed market status bid after remaining in emerging category

South Korea will continue its push for inclusion in the developed-market category under the Morgan Stanley Capital International (MSCI) index after the provider decided to keep Asia's No. 4 economy in the emerging-market category, the finance ministry said Wednesday. Overnight, MSCI said South Korea will remain in the emerging-market category despite Seoul's efforts to be placed on the watch list for inclusion in the developed-market category, citing the limited convertibility of the Korean won in offshore currency markets. "MSCI acknowledged the government's efforts to advance the foreign exchange and capital markets, but for some of the remaining tasks, efforts to improve the system are still under way," the Ministry of Finance and Economy said in a statement in response to the announcement. The finance ministry added that South Korea was not included in the developed-market category this year as the market also needed time to fully reflect the impact of the completed reforms. "If we continue to implement reforms in the foreign exchange and capital markets on our own schedule, we belieWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times