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Korea selects 12 won-yuan direct trading market makers for 2026

Published: 26 Dec. 2025, 13:58 Updated: 26 Dec. 2025, 14:47

A Chinese yuan note is seen in this photo taken on May 31, 2017. [REUTERS/YONHAP]

The Korean central bank said on Friday that it has selected seven local lenders and five foreign banks with branches in the country as market makers for direct trading between the Korean won and the Chinese yuan next year.

The seven local won-yuan market makers for 2026 are KB Kookmin Bank, NH NongHyup Bank, Shinhan Bank, Woori Bank, Industrial Bank of Korea, Hana Bank and Korea Development Bank.

The five foreign banks are China Construction Bank, Bank of Communications, Industrial and Commercial Bank of China, Bank of China and HSBC Holdings, according to the Bank of Korea (BOK).

The BOK annually updates the list of banks participating in the won-yuan direct trading market to allow interbank and customer spot transactions without any conversions into the dollar.

The selected banks will also be tasked with leading efforts to provide liquidity to the market.

“The market-maker system has contributed significantly to the successful establishment of the won-yuan direct trading market and is expected to continue playing a crucial role in developing the market and expanding the use of the yuan,” the BOK said.

Yonhap