FTSE to announce decision on S. Korea's market status this week

SEOUL, Sept. 15 (Yonhap) -- The London-based Financial Times Stock Exchange (FTSE) Group will announce its decision this week on whether to upgrade South Korea's stock market status, the bourse operator here said Monday.

FTSE will convene a meeting on Thursday where major institutional investors will review South Korea's current market status, the Korea Exchange said.

This marks South Korea's fourth attempt to receive an upgrade since 2005. A
promotion would make the local stock markets appear more favorable and attract
foreign investment, according to local analysts.

FTSE, a key global equity index compiler along with Morgan Stanley Capital
International, covers 47 stock exchanges worldwide, classifying markets into
three categories -- developed, advanced emerging and secondary emerging markets.

South Korea, which is classified as one of six advanced emerging markets, has
been on a watch list for upgrade along with Taiwan since September 2004.

kokobj@yna.co.kr

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