Bank of Korea launches 24-hour won settlement pilot for foreign investors

9/21/2026

24-hour won settlement pilot eases foreign investor access after hours in Korea See how the Bank of Korea’s network could speed transactions and expand market access

The Bank of Korea has started a pilot program for a 24hour won settlement network designed to make it easier for foreign investors to settle transactions outside South Korea’s regular banking hours. The trial began Monday with four domestic banks: KB Kookmin Bank, Woori Bank, Hana Bank and Shinhan Bank. According to the central bank, full operation is planned for January 2027, with the network expected to expand later to additional banks and foreign institutions. The system will run around the clock except on weekends and public holidays. Foreign investors will be able to use accounts through Registered Foreign Institutions for KRW Business, or RFIKs, rather than opening accounts directly with South Korean banks. The Bank of Korea said the project is intended to improve access to won settlement infrastructure and support the currency’s international role.