Bank of Korea Pilots 24-Hour Won Settlement for Foreign Investors

VERA Brief

AI-generated. Grounded in the article and its cited sources.

The Bank of Korea has started a pilot program for 24-hour won settlement services for foreign investors. This aims to make KRW transactions more accessible and efficient by allowing them to settle during their own business hours.

Key facts

• The Bank of Korea has launched a pilot program for a 24-hour settlement network.
• The program is intended to allow foreign investors to settle South Korean won transactions during their home country's business hours.
• The initiative aims to enhance the accessibility and efficiency of KRW settlements for international participants.
• This development could impact the accessibility and perceived reliability of the South Korean won for international financial markets.