MSCI asked to include Korea in developed market index Posted : 2021-05-05 16:37 By Park Jae-hyuk Morgan Stanley Capital International (MSCI) received an official request from Korean businesses to upgrade the domestic equity market to "developed" from "emerging" in its forthcoming market classification next month. The Federation of Korean Industries (FKI) said Wednesday it sent a statement to the global index provider a day earlier providing reasons why Korea should be included in the MSCI's developed market index. It emphasized it is inappropriate to maintain Korea as an emerging market, considering the size of the country's economy and its globalized stock market.