South Korea Eyes Developed Market Status with New Roadmap

South Korea plans to prepare a roadmap this year to upgrade its stock market from emerging to developed market status in MSCI’s classification, Acting Finance Minister Lee Hyoung-il said Tuesday.

The initiative aligns with President Lee Jae Myung’s reform pledges to attract more foreign capital. “Through the promotion to the MSCI developed market index, we will establish an investment environment that is in line with global standards and advance our foreign exchange and capital markets,” Lee noted during a task-force meeting.

The blueprint will focus on improving market accessibility and implementing reforms swiftly.

MSCI recently retained South Korea in its emerging market index, citing the need for further progress—particularly in the foreign exchange market—though it acknowledged better accessibility to short selling.