S.Korea to start yuan/won trading on Dec 1: sources

South Korea plans to start direct yuan/won trading come Dec 1, sources say. -- PHOTO: REUTERS
South Korea plans to start direct yuan/won trading come Dec 1, sources say. -- PHOTO: REUTERS

SEOUL (Reuters) - South Korea plans to start direct yuan/won trading on Dec. 1, sources with direct knowledge of the matter told Reuters on Monday.

Dec. 1 will be slightly ahead of an earlier plan, as South Korea strives to emerge as an international hub for growing yuan business.

"The direct trading is scheduled to begin on Dec. 1 after successful preparation work including mock trading," the person knowledgeable about the plans said. Another source confirmed it.

Finance ministry officials declined to confirm the schedule.

The ministry said at the end of October it would aim for the trading to start around the middle of December.