S. Korea to devise measures for MSCI-developed market status: minister
SEOUL, Nov. 25 (Yonhap) -- South Korea's chief economic policymaker said Thursday the country will come up with measures to win developed market status from Morgan Stanley Capital International (MSCI).
South Korea has been pushing for the upgrade from the current position on the emerging markets list, as the global index provider will have its annual review in June next year.
Finance Minister Hong Nam-ki earlier said the country deserves to win the developed market status "in light of its economic situation and foreign investors' views on the country."
The elevation, if made, will help boost stability in the Korean stock market and dispel the undervaluation of it due to geopolitical risks, he added.
For the upgrade, a country should be first placed on the watch list for at least one year. In 2008, South Korea was placed on such a list but failed to be awarded the status.
The country has been even excluded from the watch list since 2014, as MSCI cited the absence of an offshore currency market for the Korean currency as one of the main reasons for its decision to retain Asia's fourth-largest economy in the emerging market category.

In this file photo, Finance Minister Hong Nam-ki speaks during an investor relations session in London to explain South Korea's economic situation on Nov. 1, 2021. (Yonhap)
graceoh@yna.co.kr
(END)
-
(URGENT) S. Korea's science minister confirms space rocket Nuri's launch success
-
Three indicted in massive stock manipulation case
-
(3rd LD) Passenger opens door of Asiana Airlines plane before landing at Daegu airport
-
BTS' J-Hope completes basic training for military service
-
(6th LD) S. Korea successfully launches space rocket Nuri in major milestone for space program
-
N. Korea's aircraft maintenance activity at 'unusual' level: 38 North
-
(LEAD) Asiana Airlines plane's door opens right before landing at Daegu Airport
-
(2nd LD) S. Korean experts to inspect radioactive water storage tanks, purification system at Fukushima plant
-
(2nd LD) S. Korean experts begin on-site inspection of Fukushima nuclear plant
-
(3rd LD) S. Korea delays launch of space rocket Nuri over technical glitch
-
U.S. military stages 'Elephant Walk' training with F-16 fighters
-
(2nd LD) Arrest warrant issued for man who opened plane door mid-air
-
N. Korea notifies Japan of plan to launch satellite between May 31-June 11: Kyodo
-
(LEAD) N. Korea notifies Japan of plan to launch satellite between May 31-June 11: Kyodo
-
(LEAD) Japanese warship arrives in S. Korea for multinational WMD-interception naval drill