Bank of Korea launches 24-hour Korean won settlement trial operation
On Monday, September 21, the Bank of Korea (BOK) officially launched the trial operation of its new all-weather Korean won settlement network. The move marks an important step for South Korea in lowering the entry threshold for foreign investors.
The network, named the "BOK Won International Wire Network", started trial operation at 9 a.m. and cooperated with four local banks: Koon Bank, Woori Bank, Asiana Bank and Shinhan Bank. At present, the four participating local banks have completed transactions totaling 1.4 billion won (approximately US$1 million).
Bank of Korea said the platform is its first settlement network designed to operate 24 hours a day during weekdays. Previously, South Korean banks 'payment infrastructure traditionally followed domestic business hours. The new network will provide 24-hour service between 9 a.m. and 9 a.m. every weekday, except weekends and public holidays.
This mechanism will allow offshore investors to freely trade Korean won with other foreign investors using accounts opened by Foreign Institutions for Korean Won Business (RFI-K) registered in their home country. This means that foreign investors can complete the settlement of Korean won transactions during their local business hours without having to hold a Korean bank account.
The full implementation plan is scheduled for January this year, when overseas banks will join the network after its official launch. Previously, the government announced a roadmap for the internationalization of the Korean won, which included measures to keep the foreign exchange market open 24 hours a day, and the introduction of the settlement network is part of the plan.
Hangang项目独立运行区块链赛道
新的结算网络与@bok_hub并行的区块链努力有所不同。韩国银行还在推进“Hangang项目”,这是一个基于区块链的试点项目,使用批发型央行数字货币(CBDC)结算代币化的商业银行存款。
Hangang项目是一项试点计划,在该计划下,韩国银行构建基于区块链的批发型CBDC基础设施,商业银行在该平台上发行存款代币,用于现实世界的消费者支付和结算。中央银行计划对包括代币化工具在内的更多项目进行测试,并计划于2027年进行代币化政府债券与CBDC结合的试算。
这两项举措共同反映了韩国在现代化金融基础设施和提升韩元国际地位方面的更广泛努力。

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