By Kang Yoon-seung

SEJONG, July 23 (Yonhap) -- South Korea has recently shared its economic growth vision and road map for the internationalization of the Korean won with investors in London and Singapore, the finance ministry said Thursday.

Moon Ji-sung, deputy minister for international affairs at the Ministry of Finance and Economy, visited Britain and Singapore earlier this week, meeting with representatives of major financial companies and calling for their proactive investment in South Korea.

The deputy minister held roundtable discussions on the current state of the South Korean economy, as well as a session on Seoul's vision for the internationalization of the Korean won, in both countries.

During the roundtable meetings, Moon highlighted that South Korea is on course to achieve annual economic growth of 3 percent this year, with robust exports, a record current account surplus and increasing semiconductor-led investment providing momentum.

Touching on the Korean won, Moon told investors that the currency may gain ground against the greenback down the road, as the current exchange rate does not fully reflect the country's economic fundamentals.

Moon said South Korea will also push to expand domestic production and stockpiles of strategically important items amid lingering uncertainties in the Middle East and plans to bolster its supply chain and energy security through long-term supply contracts with overseas producers.

In separate sessions on foreign exchange issues with registered foreign institutions in London and Singapore's Global Foreign Exchange Division, Moon delivered a detailed briefing on the government's recently unveiled road map for the internationalization of the won.

The internationalization of the won refers to creating an environment in which foreigners face no barriers to obtaining or using the currency outside South Korea.

Moon said South Korea will establish infrastructure to help foreign investors trade, hold and make payments in won through their existing banks.

In response, foreign investors expressed support for the direction of the road map and showed strong interest in details of the won's overseas settlement system, according to the finance ministry.

This illustration depicts various sectors of the South Korean economy. (Yonhap)

colin@yna.co.kr
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