Asia’s fourth-biggest equity market has been under-performing with local trading volumes falling into a six-year long decline, pushing North Korea’s bourse operator to consider extending trading hours.

Korea’s six-hour trading day may be prolonged by the Korea Exchange within the next five years in an attempt to increase its liquidity in the $1.2 trillion market. The announcement comes as the first plan for development taken by Choi Kyung Soo since becoming the chairman of the Exchange in October. In an emailed statement earlier today, the bourse mentioned that it will consider the purchase of foreign alternative trading systems and exchanges in the next three years.

The significant outflows from South Korea’s individual investors extended into a fifth year, pushing the turnover of Kospi (KOSPI) index shares to its lowest level since 2007, and the exchange is not betting on increased demand from foreign money managers in order boost its trading volume. In the second half of 2013 the Kospi received $12.9 billion from foreigners buying South Korean shares, helping the index advance 7.9 percent. So fat this year, however, the index lost 2.6 percent.

In a press conference held in Seoul earlier today, Choi stated: “The new plan is in place to lure more foreign investors into the local market and boost the overall trading volume.”

About half of the equity trading on the benchmark Kospi index last year came from individual investors who sold a net $5.3 billion shares. According to Choi, the extension of hours may be implemented as early as within the first half of 2014, following discussions with industry officials.

A second plan of the Korea Exchange, furthermore, sees the introduction of futures contracts on the Kospi 200 Volatility Index, a gauge of anticipated price fluctuations in the country’s stock market.