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South Korea's Central Bank to Launch 24-Hour Won Settlement System in September

2026-07-09 06:02:38

MSCI-0.68%

According to its business report submitted to the National Assembly on July 9, South Korea's central bank will launch a 24-hour won settlement system in September to support foreign investors. The system aims to eliminate timing gaps between forex trading and won settlement, enhancing the won's international status and supporting the country's MSCI emerging market index upgrade. The central bank extended domestic banking hours to 8 p.m. in March and introduced ISO 20022 international standards in May to prepare the infrastructure for this settlement system.

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