South Korea on Sunday unveiled a roadmap to build an offshore market for the won, broadening this month’s launch of 24-hour currency trading with reforms designed to make the currency more freely usable by foreign investors. The Ministry of Economy and Finance (MOEF) said the plan aims to turn the won from a restricted currency into one that foreign investors and companies can use freely across borders and time zones.

Under the plan, foreigners using approved offshore institutions would be able to hold won accounts abroad and conduct most capital transactions with other foreigners without advance reporting, apart from domestic