Most Popular
-
1
Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
-
2
[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
![[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/24/20240424050844_0.jpg&u=20240424200058)
-
3
Nicaragua shuts down Seoul embassy
-
4
Medical reform committee kicks off despite boycott from doctors
-
5
Hybe's multilabel system tested amid conflict with Ador
![[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/24/20240424050844_0.jpg&u=20240424200058)
-
6
SNU profs to suspend treatment for one day
-
7
Rocket engine expert, ex-NASA exec to lead Korea's new space agency
-
8
SK hynix pledges W20tr to ramp up DRAM production at home
-
9
10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
-
10
Over 9,000 hotline calls made by stalking victims in 2023
South Korea's Woori Bank said Wednesday it has offered a won-denominated usance letter of credit worth 85 billion won ($76.2 million) to some Chinese banks, including the Bank of China and the Bank of Communications.
The facility allows South Korean firms doing businesses in China to help ease their risks related to foreign currency fluctuations, Woori Bank said in a statement.
Using the credit facility, a South Korean firm can swiftly receive a payment with the Korean currency when it exports goods to a Chinese firm.
An official at Woori Bank said the won-denominated letter of credit would significantly reduce the cost of currency risk for South Korean firms. (Yonhap)
