Seoul: The central bank announced Thursday that it has designated five major commercial banks, Korea Development Bank (KDB), and JP Morgan Chase as foreign exchange (FX) leading banks for the year 2026.

According to Yonhap News Agency, the selected banks include KB Kookmin, NH NongHyup, Shinhan, Woori, and Hana Bank, in addition to KDB and JP Morgan. The selection was based on criteria such as financial soundness, creditworthiness, and strong performance in won-dollar spot and foreign exchange swap transactions.

These banks are now eligible for a reduction of up to 60 percent in the FX stability levy. A Bank of Korea (BOK) official stated that the central bank will work closely with the leading banks to ensure the successful implementation of ongoing FX market reforms as part of a comprehensive road map for inclusion in the Morgan Stanley Capital International (MSCI) index.