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Korean Finance Minister Hyun Oh-seok has expressed his optimism about setting up a won-yuan direct
transaction market. Speaking to reporters Thursday,... Hyun said...
he saw the direct currency market between Korea and China as beneficial for the economy,...
if its demands are met. Referring to a similar market set up in 1997,
which was shut down due to a lack of demand,... Hyun pointed to a need to increase the two
countries' trade volume as well as the demand for won in the global market.
Under the deal, Korean exporters would be allowed to be paid directly in won, reducing
the currency-conversion cost into dollars.