(LEAD) Seoul to continue push for MSCI developed market status bid after remaining in emerging category (opens original article in a new tab)

South Korea will continue its push for MSCI developed-market status after remaining in emerging category, with MSCI citing limited currency convertibility as a key barrier.

• South Korea will continue efforts to be included in MSCI developed-market category after remaining in emerging category
• MSCI cited limited convertibility of Korean won in offshore markets as reason for keeping South Korea in emerging category
• South Korea needs to be on MSCI watch list for developed-market status for at least one year before full upgrade
• Finance ministry said reforms in foreign exchange and capital markets are still ongoing and will continue to implement them on schedule