Financial markets to open 1 hour later on college entrance exam day

The Korea Exchange's Seoul office in the financial district of Yeouido / Yonhap

Korea will delay the opening of its financial markets by one hour on the day of the college entrance exam, the bourse operator said Thursday.

The benchmark Korea Composite Stock Price Index (KOSPI), tech-heavy KOSDAQ markets and small business-focused KONEX markets will open at 10 a.m. and close at 4:30 p.m. on Nov. 13, one hour later than their ordinary opening and closing time, the Korea Exchange said.

The delayed market opening is intended to ease morning rush-hour traffic jams that could hamper students from arriving on time at testing sites of the annual exam, known as "Suneung."

Hundreds of thousands of people, mostly high school seniors, are scheduled to take the exam, which is widely seen as the key to their admission to college and subsequent career.