Exchange Selects Simone Accessory Collection as Best Company in Foreign Exchange Risk Management

[Asia Economy Reporter Oh Ju-yeon] The Korea Exchange announced on the 21st that Simone Accessory Collection and CS Wind were selected as the best company and excellent company, respectively, in the '2020 Foreign Exchange Risk Management Excellent Companies.'

Since its inception in 2009, the Foreign Exchange Risk Management Excellent Companies award has been selected annually by comprehensively evaluating export-import companies based on their hedging transaction performance using currency futures and the efficiency of their foreign exchange risk management systems.

According to the Exchange, this year, amid increased exchange rate volatility due to the impact of the novel coronavirus disease (COVID-19), the daily average trading volume of US dollar futures reached a record high of 5 trillion won, attracting heightened interest from market participants.

The Exchange evaluated that "these excellent companies systematically managed foreign exchange risk by establishing internal guidelines (regulations) for foreign exchange risk management based on the management's firm commitment to the necessity of foreign exchange risk management."

It added, "They actively participated in related education and seminars to overcome organizational and personnel constraints and to cultivate the expertise of internal foreign exchange risk management personnel, and made efforts to build an optimized internal foreign exchange risk management system with futures companies for efficient foreign exchange risk management using currency futures."

This content was produced with the assistance of AI translation services.