Renminbi struggles to gain traction in South Korea, future uncertain.
The study looked at how the Chinese currency, the renminbi, is being used in South Korea. It found that the use of renminbi in South Korea is still very limited in both private and public sectors. The study also discovered that neither sector plans to increase their use of renminbi in the near future because the costs outweigh the benefits. This suggests that the renminbi may not become a major international currency in East Asia, despite China's strong economic growth.