SEOUL, Dec. 22 (Korea Bizwire) — South Korea’s central bank said Friday that it has selected 12 banks, including six foreign banks, as the lenders responsible for setting prices for direct won-yuan transactions. The Bank of Korea said the lenders will also be charged with taking the lead in providing liquidity to the market. The [...]
SEOUL, Nov. 6 (Korea Bizwire) — Bank of Communications held on November 6 a memorandum signing event for the opening of a won-yuan settlement bank in Seoul. Earlier in July this year, the two summits of China and Korea had agreed to a deal in which the People’s Bank of China would designate Bank of Communications as a [...]
SEOUL, Nov. 4 (Korea Biwire) — A total of 12 domestic and international banks including Shinhan Bank and Bank of Communications have been selected as “market makers” for won-yuan direct transactions. The Bank of Korea said on November 3 that it designated 12 banks as market makers as part of a policy measure to encourage transactions between the [...]