Exchange traded funds featuring hedges against foreign currency fluctuations have witnessed impressive growth this, led by the WisdomTree Japan Hedged Equity Fund (NYSEArca: DXJ) and the db X-trackers MSCI Japan Hedged Equity Fund (NYSEArca: DBJP).

WisdomTree (NasdaqGM: WETF),  the fifth-largest U.S. ETF issuer and the firm behind one of the more expansive suites of currency-hedged ETFs, plans to introduce the WisdomTree Korea Hedged Equity Fund (Nasdaq: DXKW) on Thursday.

DXKW will track the WisdomTree Korea Hedged Equity Growth Index, which “is designed to provide exposure to Korean equity markets while at the same time neutralizing exposure to fluctuations of the Korean Won movements relative to the U.S. dollar,” according to WisdomTree.

Top holdings in the index include Samsung Electronics, Samsung SDI, Hyundai Motors, Kia Motors, LG and KT&G. Capital Goods, Materials and automakers and parts suppliers dominate at the sector level, combining for over 62% of the index’s weight. [WisdomTree: South Korea vs. Japan]

While the iShares MSCI South Korea Capped ETF (NYSEArca: EWY) is by far the largest South Korea ETF on the market with $4.4 billion, the idea of a currency hedged play on equities in Asia’s fourth-largest economy has merit.