South Korea’s financial markets will shut down on June 13 for a designated holiday for local election, according to the Korea Exchange Monday. 

Markets trading equities, derivatives and commodities here will be closed throughout the day, based on the internal regulations by the KRX.

Also, settlement or liquidation of stocks, derivatives and interest rate swaps in Korean won and US dollar will not be conducted during the day.

The KRX operates markets for stocks, exchange-traded funds or notes, Korean won futures and options, as well as commodities like crude oil, gold and carbon emissions.

Local elections in Korea will select provincial governors, city mayors, councilors in cities and districts and superintendents of offices of education. The direct election is held every four years.

By Son Ji-hyoung 
(consnow@heraldcorp.com)