South Korea selects 12 banks to enable direct won-yuan trading in 2026, boosting bilateral financial ties.

South Korea has chosen 12 banks to serve as market makers for direct trading between the won and yuan starting in 2026. Seven domestic banks, including Kookmin and NongHyup, will provide bid and offer prices, while five Chinese bank branches, such as Bank of Communications and China Construction Bank, will supply liquidity. The 2014-established mechanism aims to streamline trade settlements and reduce exchange rate risks, supporting deeper financial ties between the two nations.