Seoul: South Korea's primary bourse operator, the Korea Exchange (KRX), announced on Tuesday that it will postpone the introduction of pre- and after-hours trading by three months, now targeting a September launch.

According to Yonhap News Agency, the KRX decided to delay the expansion after local brokerages requested additional time to test and implement the necessary systems for the extended trading hours. The KRX had initially aimed to launch the 12-hour trading sessions, which include pre- and after-hours trading, by June 29. Currently, the KRX operates for 6.5 hours daily, from 9 a.m. to 3:30 p.m.

The extension was part of a strategy to enhance KRX's competitiveness against global exchanges like the New York Stock Exchange, which are also exploring extended trading hours. However, the KRX's plan faced criticism from local brokerages and financial sector labor groups, who expressed concerns over potential overwork and increased operational costs.

Critics also argued that the proposed timeline was too short for developing the necessary IT systems. Recently, the Korea Financial Investment Association (KOFIA), representing South Korea's financial investment industry, formally communicated these concerns to the KRX. In response, the bourse operator convened a meeting with its member brokerages earlier this month, where it was agreed that a review of the timeline for introducing extended trading hours would be considered.