[전문]韓, MSCI 선진지수 편입 불발 이유

MSCI지수를 운용, 관리하는 MSCI바라는 15일(현지시간) 선진국 지수와 이머징마켓 지수 등 주요 지수 변경 내역을 발표, 한국을 현행대로 이머징마켓 지수에 잔존시키기로 했다고 밝혔다.

한국의 선진국지수 편입은 내년 정기 지수 재조정시에 검토할 것이라고 덧붙였다. 이에 따라 한국의 지수편입은 일러야 내년 6월에 가능하게 될 전망이다.


다음은 MSCI의 지수조정 성명서 중 한국관련 부분 전문

Korea: MSCI will maintain the MSCI Korea Index in Emerging Markets.
The MSCI Korea Index will remain under review for a potential reclassification to Developed Markets as part of the 2010 Annual Market Classification Review.

Under the current MSCI market classification framework for Developed Markets, Korea meets the economic development as well as the size and liquidity requirements. In its preliminary assessment released in December 2008, MSCI noted that investors have continued to highlight some significant accessibility issues for Korea which are not characteristic of Developed Markets. MSCI's preliminary assessment then was that more time would be needed for the Korean authorities to act on investors' feedback and make additional changes and issue clarifications, and that market participants would need the time to evaluate the extent to which these potential improvements address their concerns.


For the MSCI Korea Index to be reclassified to Developed Markets significant progress would be needed in the following three areas:

§ Lack of full convertibility of the Korean Won: The lack of an offshore currency market and constraints on the onshore currency market continue to present operational challenges for investors.

§ Rigidity of the ID system: Omnibus accounts, off-exchange block trades and in-kind transfers are made impractical or very difficult with the current ID system.

§ Anti-competitive practices: The provision of stock market real-time data is subject to contractual anti-competitive clauses. This is not the standard in Developed Markets.

MSCI continues to be encouraged by the goodwill expressed by the Korean authorities through their efforts to understand the issues and explore options to address them.