Bank of Korea Governor Shin Hyun-song: Won Internationalization in ‘Early Stage’

The governor's framing matters because it sets expectations low: official language now casts won internationalization as a long-horizon project rather than a near-term policy deliverable. For corporates and institutions weighing won-denominated settlement or funding, the signal is that infrastructure and convertibility constraints still dominate. The detail gap — no steps, no timeline — leaves the market to infer priorities from the BOK's ongoing study work rather than from announced commitments. Whether that study phase converts into concrete pilot or regulatory measures is the open question to watch.