Korean Firms Poised to Adopt Payment in Yuan

Korean companies are getting ready to introduce payment in yuan after the Chinese government decided to expand the use of yuan in international trade.

According to a survey conducted by the Korea Trade-Investment Promotion Agency of 104 companies doing business with China and 136 firms incorporated there, 77.5 percent said that they are willing to use yuan to settle their bills, while 4.2 percent already doing so.

Out of 11 large companies, 10 said they plan to switch to yuan when paying for trade with China.