The Bank of Korea and the Central Bank of the Republic of Turkey today entered into a Korean Won-Turkish Lira bilateral swap agreement, effective immediately.

The swap agreement allows for the exchange of local currencies between the two central banks of up to KRW 2.3 trillion or TRY 17.5 billion.

The effective period is 3 years from today, and could be extended by mutual agreement between the two sides.

* Please refer to the attached file for details