South Korea finmin nominee vows to improve FX market access, report says

South Korea's finance minister nominee said he would bring regulatory improvements to the foreign exchange market, according to a media report.

"The government so far has been a little bit passive about opening up the foreign exchange market," nominee Koo Yun-cheol said in written remarks submitted to parliament for a hearing, Yonhap Infomax reported.

"While maintaining external stability to some degree, (I) will prepare a roadmap to improve trading hours and accessibility of the foreign exchange market to a global level," Koo said, according to the report.

On other issues, Koo said there was a need to impose taxes on housing lease income, but side effects of upward pressure on house prices should also be considered, the Yonhap news agency reported.

There should be tax measures to encourage higher dividend payouts by companies and it is desirable to impose taxes on capital gains from cryptocurrency trading, Koo said, according to the agency.