South Korea's Central Bank Launches BOK-Wire Int System in September, Expands to 4 Banks and Foreign Branches

According to Yonhap Infomax, South Korea's central bank confirmed on July 21 that it will officially name its offshore won settlement system 'BOK-Wire Int' and proceed with trial operations targeting September 2026. Four domestic banks—Kookmin, Woori, Hana, and Shinhan—will participate in the pilot phase. The central bank plans to continue expanding participating institutions after the trial launch, with discussions ongoing with two foreign bank branches operating in South Korea. BOK-Wire Int will operate 24 hours on business days, enabling foreign investors to conduct won settlements across different time zones, contrasting with the existing BOK-Wire+ system which runs 9 a.m. to 8 p.m.
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