The problems are many. Buying ETFs/shares/any forex-based instrument through a broker located outside of Japan involves paying a $20 cash transfer fee (bank charges/per transfer). That eats into any margin. (That is in addition to the cost for broker fees etc. themselves.) While I'm no day trader, I have issues with that. Solution: Find a local broker that sells e.g. S&P500, Korean funds etc. locally. OK. Is that possible? Any suggestions?

Are you in the US ? You should be able to buy the EWU (UK ETF) and EWJ (Japan ETF).http://www.etfconnect.com/select/fundpages/etf_funds.asp?MFID=23376http://www.etfconnect.com/select/fundpages/etf_funds.asp?MFID=23385