Finance

Hana Bank signs won swap deal with RFI, first for South Korean banks

Hana Bank signed a won swap deal in London with a foreign bank registered as a Recognised Foreign Institution, it said. The bank said it was the first time a South Korean bank had concluded a won swap transaction with an RFI. Hana said its London funding centre supplied won liquidity directly to overseas won swap demand. It plans to expand the centre’s scope from FX and remittances to sales of won government bonds, domestic stocks and won derivatives.

Telecommunications & Media

Woori Bank becomes first domestic bank to secure government bond trade via global payment network

Woori Bank said on Wednesday it completed a transaction to directly trade and settle Korean government bonds with an overseas financial institution using an international central securities depository (ICSD). It said it was the first case by a domestic bank to conclude an actual trade with a foreign investor since offshore settlement via ICSD was allowed for local financial institutions in January. The deal also linked foreign exchange transactions and derivatives.