Korea Financial Telecommunications and Clearings Institute
Native name
금융결제원
TypeNon-profit organization
IndustryFinance
Founded1986
HeadquartersSeoul, South Korea
Websitehttp://www.kftc.or.kr/
Korean name
Hangul
Hanja
Revised RomanizationKeumyung gyeoljewon
McCune–ReischauerKŭmnyung gyŏljewŏn

Korea Financial Telecommunications and Clearings Institute (Korean: 금융결제원, KFTC) is a non-profit organization which manages several inter-bank payment systems in South Korea.

Business

  • Check clearing
    • Cashier's check truncation
    • Local L/C clearing
    • Corporate purchasing fund bill truncation
    • Electronic bonds
    • Management of dishonored bills
  • Giro
    • Paper based giro (bill)
    • Electronic giro (Direct Debit / Direct Credit), similar to an automatic clearing house
    • Internet giro (electronic bill payment)
  • Inter-bank network
    • CD/ATM network
    • IFT Network (Inter-bank Fund Transfer Network)
    • HOFINET (Inter-bank Home/Firm Banking Network)
    • K-Cash Network (Electronic Money Network)
    • CLS Network (and SWIFT Representative Office in Korea)
  • Bank Joint Electronic Services
    • Accredited certification for internet/mobile banking (PKI-based)
    • KF-ISAC (Information Sharing and Analysis Center)
    • Retirement pension record-keeping
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