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On April 13, 2026, the Bank of Korea released its 2025 Payments Report, detailing progress on key payment system initiatives and future plans. The report covers recent completed projects and upcoming implementations across Korea's payments infrastructure. Completed initiatives detailed in the report include the expansion of Bank of Korea Financial Network (BOK-Wire) operating hours on March 30, 2026; the first live pilot of Project Hangang in June 2025; and the completion of phased increases to collateral provision ratios for net settlement obligations, which reached 100 percent in August 2025 (up from 90 percent). The report also outlines forthcoming developments, including the adoption of the International Organization for Standardization 20022 (ISO 20022) international financial messaging standard, scheduled for the second and fourth quarters of 2026, and the construction of an offshore Korean won settlement system (provisional name), expected to become operational in 2027. The report includes reference sections addressing recent significant events in Korea's payments ecosystem, specifically the Bithumb exchange Bitcoin underpayment incident and analysis of stablecoin price volatility causes and implications. These additions reflect the Bank of Korea's attention to emerging risks and developments in digital asset settlement and cryptocurrency markets affecting the broader payments infrastructure. The full 2025 Payments Report, supporting data files, and related documentation are available on the Bank of Korea website under News and Resources > Publications > Payments Reports > 2025 Payments Report.