The Korea Exchange is considering postponing the implementation of its plan to extend stock market trading hours until the second half of this year in response to opposition from the securities industry. This reflects the industry's view that if the plan is implemented as originally scheduled at the end of June, the sector will not be adequately prepared.
The exchange conveyed this stance on the 5th through a meeting with several securities firms. According to sources in the financial investment industry, the meeting was held in multiple sessions to actively solicit opinions from member companies, particularly addressing their request for sufficient preparation time for information technology (IT) systems. The exchange stated that it will review the preparation status of each securities firm to ensure stable computer system readiness.
The exchange originally planned to extend daily trading hours from 6 hours and 30 minutes to 12 hours by the end of last year, but later revised the date to June 29th of this year. However, at this meeting, a proposal to postpone the implementation by one or two months was discussed. This is based on the global trend of extending trading hours, and South Korea needs to keep pace with this trend.
On the other hand, the previous day, the Securities Industry Headquarters of the National Financial Services Union launched a full-scale protest against extended trading hours in front of the Korea Exchange in Yeouido, Seoul. They argued that extending trading hours was not a measure to promote the modernization of the capital market and warned that it might prevent long-term investor funds from flowing in, allowing only short-term traders to be active in the stock market.
In the current situation, the timing of extending trading hours is intertwined with issues such as securities firms' system preparedness and ensuring market stability. Whether it will be implemented in the second half of the year may also depend on the positions of the labor sector and industry. These changes will impact future market paradigms and stock trading trends.
