The Bank of Korea will auction the dollars for seven-day, and 84-day terms at 25 basis points over the overnight index swap rate, it said in a statement.
The Fed said on March 19 the BOK is one of nine central banks it will sign new dollar swap lines with in a coordinated action to prevent the coronavirus epidemic from causing a global economic rout.
The agreement with South Korea is a $60 billion bilateral currency swap facility for at least six months.
The BOK said it will hold additional auctions to inject dollar liquidity if needed.