KB Kookmin, South Korea's largest bank, is set to introduce a cross-border corporate payment service utilizing JPMorgan's Kinexys blockchain network in August, according to Yonhap news agency. This initiative marks the first time a South Korean financial institution will employ Kinexys for import-export transactions, with the service available through branches in both South Korea and Singapore. Initially, the focus will be on dollar transfers among ten countries, which include the United States, India, Saudi Arabia, and the UAE.