BOK names 5 major lenders, KDB, JP Morgan as FX leading banks

Bank of Korea's headquarters in central Seoul / Korea Times file

The central bank said Thursday it has designated five major commercial banks, the state-run Korea Development Bank (KDB) and JP Morgan Chase as foreign exchange (FX) leading banks for 2026.

KB Kookmin, NH NongHyup, Shinhan, Woori and Hana Bank, along with KDB and JP Morgan, were selected based on financial soundness, creditworthiness and strong performance in won-dollar spot and foreign exchange swap transactions, the BOK said.

The selected banks are eligible for a reduction of up to 60 percent in the FX stability levy.

"In line with the comprehensive road map for the inclusion in the Morgan Stanley Capital International (MSCI) index, we will work closely with the leading banks to ensure that ongoing FX market reforms are successfully implemented," a BOK official said.