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Internationalization of the Korean Won in the Light of RMB Internationalization

Author

Listed:
  • Kim, Hyo Sang

    (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP))

  • Jeong, Young Sik

    (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP))

  • Moon, Ji Young

    (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP))

  • Yang, Da Young

    (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP))

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.

Suggested Citation

  • Kim, Hyo Sang & Jeong, Young Sik & Moon, Ji Young & Yang, Da Young, 2022. "Internationalization of the Korean Won in the Light of RMB Internationalization," World Economy Brief 22-29, Korea Institute for International Economic Policy.
    • Handle: RePEc:ris:kiepwe:2022_029
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