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Bank of Korea has launched a 24-hour Korean won settlement network trial operation, with participation from KB National Bank, Uli Bank, Hana Bank, and Shinhan Bank. The network is planned to be fully operational by January 2027 and expanded to other institutions and foreign banks. This network operates all day except for weekends and public holidays. Foreign investors can register foreign institutional accounts through Korean won business and settle Korean won transactions during business hours in their respective regions, without the need to directly open accounts with Korean financial institutions. Korean banks participated in Project Agor á led by the Bank for International Settlements and completed cross-border payment trials in July using tokenized central bank reserves and commercial bank deposits. Bank of Korea is also promoting Project Hangang based on blockchain, which uses wholesale central bank digital currency to settle tokenized commercial bank deposits.