Bank of Korea

Market Infrastructure

Korea to Issue Guidelines to Encourage Greater Use of KOFR

By Editors | 19/08/2024

The BOK and FSC plan to introduce KOFR-linked overnight index swaps and ultimately restrict the use of CD rates in IRS transactions.

Capital / Liquidity

Korea Starts Supplying Liquidity to Firms Hit By E-Commerce Crisis

By Mark Johnston | 12/08/2024

A series of reforms are also planned to prevent a recurrence of the liquidity crisis at e-commerce platforms TMON and WeMakePrice.

Crypto / Digital Assets

BOK Amends Rules to Enable Data Collections from VASPs

By Manesh Samtani | 24/07/2024

VASPs will be required to submit business reports to BOK every quarter, as well as other information if requested by the central bank.

Capital / Liquidity

BOK Enhances Ability to Provide Liquidity Support During Crisis

By Manesh Samtani | 23/07/2024

Six central associations can engage in repo transactions with BOK, enabling them to obtain liquidity in the event of a crisis.

Fintech / Regtech

Korea, Indonesia Sign Cross-border Payments MoU

By Editors | 16/07/2024

The MOU will support the implementation of cheaper, faster, more inclusive, and more transparent cross-border payments between the two countries.

Securities / Derivatives

Korea to Conduct Final Trials for Extended FX Trading Hours

By Editors | 19/06/2024

As of 1 July, onshore dollar-won trading will close at 2am, compared to 3.30pm currently. Final tests will be carried out this week.

Market Infrastructure

BOK Invites Domestic Banks to Handle Cross-currency FX Trades

By Manesh Samtani | 06/06/2024

Domestic banks can apply to participate in non-won FX transactions needed for managing Korea’s foreign exchange reserves.

Market Infrastructure

Japan, Korea, US Finance Ministers Hold First Trilateral Meeting

By Editors | 18/04/2024

The ministers agreed to “consult closely” on FX markets and to cooperate on financial stability and the use of sanctions.

Crypto / Digital Assets

New BIS Project Seeks Overhaul of Global Payment System

By Manesh Samtani | 04/04/2024

Seven central banks will develop common infrastructure that can accommodate tokenised versions of wholesale central bank money and commercial bank deposits.