Internationalization of the Korean Won in the Light of RMB Internationalization

Hyo Sang Kim, Young Sik Jeong, Ji Young Moon and Da Young Yang
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Hyo Sang Kim: KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)
Young Sik Jeong: KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)
Ji Young Moon: KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)
Da Young Yang: KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)

No 22-29, World Economy Brief from Korea Institute for International Economic Policy

Abstract: While China has risen to become a global superpower with a growing impact on the world economy, its currency, the Renminbi (RMB), has a limited role in the existing international financial system. China has made significant progress and will continue to push for the internationalization of the RMB, which can disrupt the global financial system, dominated by the US dollar. Under such circumstances, Korea must find a new direction for the internationalization of the Korean Won. The internationalization of the Korean won will provide new opportunities for the economy to take a further step through financial advancement.

Keywords: Currency Internationalization; China; Korea (search for similar items in EconPapers)
Pages: 12 pages
Date: 2022-07-22
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Persistent link: https://EconPapers.repec.org/RePEc:ris:kiepwe:2022_029

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