Seoul foreign exchange market banks completed mid-year personnel reshuffles in their FX dealing rooms. The dollar-won spot market transitioned to 24-hour trading five days a week from the 6th of this month, prompting banks to replace chief dealers and reinforce staff at overseas desks in London and Hong Kong. This marks the second major reorganization following large-scale personnel changes earlier in the year, as banks strengthen their operational frameworks to manage the extended trading hours.
Dollar-Won Spot Market Adopts 24-Hour Trading System
The Seoul foreign exchange market implemented 24-hour trading for the dollar-won spot market five days a week starting from the 6th of this month. Banks responded by replacing chief dealers and adding personnel to overseas trading desks in London and Hong Kong. Most commercial and policy banks completed their mid-year regular personnel transfers on the 27th.
Banks Replace Chief Dealers Across Spot and Swap Desks
IBK Industrial Bank moved Lee Chul-woo, who led swap operations, to its Hong Kong branch. Kim Min-soo, the former spot chief dealer, now oversees swap operations, while Kim Hwi-hyun takes over as spot chief dealer. Lim Ji-min shifted from FX swaps to bond swaps, Kim Si-hyun moved from cross-currency to FX swaps, and Kim Min-kook joined from a branch office to handle cross-currency trading.
Shinhan Bank promoted Oh Se-yeol from spot chief dealer to corporate operations. Kim Ik-heon, who built experience in sales, now leads spot trading. Oh Byung-seok took over cross-currency operations.
Overseas Desks in London and Hong Kong Receive Staff Reinforcements
KB Kookmin Bank brought Kim Kyung-min back to Seoul from London. Lee Sang-min and Kim Sun-hye transferred from Seoul spot operations to London, with additional personnel expected to deploy. Kang Chan-yong remains as spot chief dealer.
Woori Bank dispatched Lee Chang-seop, a former spot chief dealer, and Ahn Young-sun, a cross-currency dealer, to its London desk. The bank added junior-level staff while Jeon Yong-jin continues as spot chief dealer.
KDB Industrial Bank added Kim Soo-hyun and Yoo Sung-hyun to its spot team. Kim A-reum supports cross-currency, spot, and swap operations.
Additional Bank Personnel Movements
BNK Gyeongnam Bank brought in Kim Eun-sun as a new spot dealer to manage position oversight previously handled by Kim Tae-young. Jung Chang-hoon shifted from derivatives sales to planning and spot trading, swapping roles with Choi Young-rak.
BNK Busan Bank transferred Kim Yeon-jung from spot dealing to Busan, with Lee Hye-won joining to support spot operations.
Hana Bank maintained its existing structure following a major organizational overhaul in the first half of the year. NH Nonghyup Bank, iM Bank, and Korea Eximbank also retained most of their dealing room personnel.
FAQ
What personnel changes occurred in Seoul bank FX dealing rooms?
Banks replaced chief dealers in spot and swap operations and reinforced overseas desks in London and Hong Kong following the transition to 24-hour dollar-won spot trading.
When did the dollar-won spot market begin 24-hour trading?
The market transitioned to 24-hour trading five days a week from the 6th of this month.
Which banks made the most significant staffing adjustments?
IBK Industrial Bank, Shinhan Bank, KB Kookmin Bank, and Woori Bank implemented notable personnel movements, including overseas desk deployments and chief dealer replacements.
