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.
