Korea Exchange (KRX) will sharply extend stock trading hours to boost global competitiveness. Pre- and after-market sessions will operate around regular trading from June. A 24-hour trading system is expected to be introduced by the end of next year.

Korea Exchange announced on Monday a plan to extend trading hours. The step is meant to respond to a trend among global bourses such as the New York Stock Exchange (NYSE) and Nasdaq (NASDAQ), which have built 24-hour trading systems.

The exchange will add trading hours before and after the regular session (9 a.m. to 3:30 p.m.) by June. A pre-market will run for 1 hour from 7 a.m. to 8 a.m. An after-market will run for 4 hours from 4 p.m. to 8 p.m.

In the longer term, it plans to complete a 24-hour trading system by the end of 2027.

A KRX official said extending trading hours was an unavoidable choice as competition among domestic and overseas exchanges intensifies. The official said management and labour share that view and plan to work together to ensure the system is smoothly established.

Labour opposition remains, however.

The National Office Finance Service Workers Union held a rally on Jan. 22 in front of Korea Exchange's Seoul headquarters in Yeouido, Seoul, calling for the extension to be withdrawn.

At the time, the union strongly criticised the plan, saying a rushed extension of trading hours without preparation infringes workers' rights to sleep and health. It called for an immediate halt to the push for 24-hour trading.