Overview
- The bilateral currency swap allows exchanges up to 10.7 trillion won (115 trillion rupiah), roughly US$7.3 billion.
- The renewed arrangement takes effect March 6, 2026 through March 5, 2031 and marks the fourth extension since the pact began in 2014.
- Bank of Korea Governor Rhee Chang-yong and Bank Indonesia Governor Perry Warjiyo signed the renewal in Seoul.
- The central banks say the line is intended to promote bilateral trade, enable local-currency settlement, and provide contingency liquidity during market stress.
- A cross-border QR payment service will roll out at merchants in both countries in April, with the BOK citing lower foreign-exchange and fee burdens and plans to extend the system to online use and other ASEAN markets.