SKorea to allow won payments for bond

SEOUL — South Korea will allow payments in the local won currency for trading of Korean treasury bonds through an omnibus account that will be set up at securities settlement house Euroclear from June 27, foreign exchange authorities said on Tuesday.

Foreign banks will also be allowed to make interest and compensation payments in the local currency won, under the condition that transactions are cleared by Euroclear, according to a statement about detailed changes of forex market regulations that would be implemented from the second half of 2024.