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KEB Hana Bank, Woori Bank picked as clearing banks for yuan-won market

The Bank of Korea appointed and as clearing and settlementbanks for the Chinese yuan-South Korean won market, Reuters reported April 12.

The yuan-won market will be launched by the end of June inShanghai.

The central bank said it chose the two banks for theirspecialty in dealing with foreign exchange trading, stability and theirbusiness plans.