Bank of Korea Begins Pilot for 24-Hour Won Settlement Network
What happened
The Bank of Korea initiated a pilot program for a 24-hour won settlement network on September 21, 2026.
The Context
- Expanded trading hours: South Korea's onshore dollar-won trading was extended to 24 hours in July 2026, but lacked matching settlement infrastructure.
- International alignment: The new network aims to facilitate foreign investment by aligning with global financial center hours, addressing operational barriers.
- Future participation: Full operations are set for January 2027, with foreign banks expected to join, enhancing accessibility for offshore investors.
The Number
— This figure represents the value of transactions completed during the initial test phase, highlighting the network's immediate impact on liquidity.
Takeaway
As the pilot progresses, expect improved liquidity and reduced friction for foreign institutions engaging with South Korean assets.
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