BOK launches pilot program for 24-hour offshore won settlement

The Bank of Korea has launched a pilot program for a 24-hour offshore won settlement network, allowing foreign investors to buy and sell the Korean currency at any time. This move is part of Korea's efforts to attract more foreign investors and lower barriers for them. The new system, called the BOK Won International Wire Network, will make it easier for international transactions to take place, potentially boosting trade and investment between Korea and other countries.

Why it matters

The Bank of Korea's pilot program aims to increase the efficiency of offshore won settlement. This could lead to increased trade and investment in Korea.

Market impact

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