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Photo: Korea Exchange (KRX) |
[Alpha Biz= Paul Lee] The Korea Exchange’s (KRX) proposal to extend stock trading hours to 24 hours has drawn strong opposition from the securities industry union.
On January 22, the National Office and Financial Services Union held a rally in front of the KRX Seoul headquarters in Yeouido, calling for an immediate halt to the plan. The union argued that the stated goals—aligning with global standards and improving investor convenience—are merely a façade. They claimed the true motive is to offset revenue losses from the launch of the alternative trading platform, NextTrade (NXT), which operates from 8 a.m. and includes an after-market session.
The union emphasized that unlike the U.S., where 24-hour trading addresses the East-West time zone gap, extending Korea’s market hours to 7 a.m. serves no meaningful global standard. They also criticized KRX’s proposal to reject offline orders during extended hours as an example of a hastily designed plan.
Union officials warned that the extension could spread limited liquidity thinly into early morning hours, creating pricing gaps, increasing volatility risks, and putting individual investors at greater risk. They called on the KRX to abandon the plan and instead focus on creating a well-prepared system that ensures a stable and active financial investment market for all participants.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
