Korean Single Currency Unlikely For 10 Years

CURRENCY NEWS

SEOUL--A single currency for North and South Korea is unlikely in the next decade, say currency economists. This is despite the November 10 announcement by Korean officials that the two countries will use a single currency for cross-border transactions.

Claudio Piron, treasury economist at Standard Chartered in London, says a common currency to replace the North Korean and South Korean won is probably still 10 years away. Currency union would come in the final stages of reunification, he says