Korea offers guidelines for RFI-K under won's internationalization vision

Revised rules let registered foreign institutions settle won transactions offshore as Korea advances currency internationalization.

21일 서울 중구 하나은행 위변조대응센터에서 직원이 5만원권을 정리하고 있다. 금융감독원에 따르면 6월 말 국내은행의 원화대출 연체율(1개월이상 원리금 연체기준)은 0.56%로, 작년 동월 대비 0.04%포인트(p) 상승했다. 이는 같은 달 기준으로 2016년 0.71% 이후 가장 높다. 2026.8.21 seephoto@yna.co.kr/2026-08-21 14:00:02/
An employee sorts 50,000-won banknotes at Hana Bank's forgery response center in central Seoul on Aug. 21.

Korea on Wednesday announced revised rules for registered foreign institutions (RFIs) as part of the ongoing effort to make the won a freely convertible currency, the Ministry of Finance and Economy said.

The Finance Ministry said it revised the guidelines on foreign financial institutions' foreign exchange operations and the foreign exchange transaction regulations following a public comment period and a regulatory review by the Office for Government Policy Coordination.

Under the revisions, foreign financial institutions registered with the ministry will be able to open omnibus accounts at domestic foreign exchange banks and settle won transactions through the Bank of Korea Won International Wire Network, enabling offshore won settlement without time or location constraints.

Registered foreign institutions wishing to conduct offshore won business must separately register with the Foreign Ministry as a Registered Foreign Institution for KRW Business (RFI-K).

Institutions with such registration can serve clients not residing in Korea, enabling them to open won-denominated accounts and conduct remittances, investments and lending and borrowing transactions.

Such institutions must verify their clients' foreign nonresident status and submit monthly transaction reports to the central bank.

The government will conduct necessary reviews of the institutions' financial soundness and closely monitor their transactions in cooperation with the central bank, the finance ministry said.


Yonhap