Seoul: The South Korean stock and foreign exchange markets will be closed on January 27 for a temporary holiday, as announced by their operators. This closure includes the main Korea Composite Stock Price Index, the secondary tech-heavy KOSDAQ, as well as the ETF, derivatives, and commodity markets, which will remain shut from January 27 through January 30, resulting in an extended six-day holiday period.
According to Yonhap News Agency, the South Korean government designated January 27 as a temporary holiday in anticipation of the Lunar New Year festivities. This move aims to stimulate domestic demand during one of the country's most significant traditional holidays. Lunar New Year's Day, known as Seol, is widely celebrated across South Korea, with many citizens traveling to their hometowns to participate in ancestral rituals and spend time with their families.