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SEOUL, May 30 (Reuters) - Chinese companies have borrowed funds for the first time via a foreign currency swap agreement between Seoul and Beijing, South Korea's central bank said on Friday.

The Chinese firms borrowed a total of 400 million Korean won

KRW= ($391,900) using a loan facility under the swap agreement, which is valued at $59 billion.

The Bank of Korea said the funds were lent to two firms in China, with a six-month maturity through a system that involves South Korea's Woori Bank and China's Bank of Communications.

The loan facility, established in December 2012, aims to boost the use of the Korean won and Chinese yuan CNY= in bilateral trade. The currency swap between South Korea and China was signed in late 2011.

A Bank of Korea official said it does not plan to disclose future borrowings of both the yuan and the won from the facility, as agreed with China's central bank. ($1 = 1020.6000 Korean Won)

(Reporting by Christine Kim; Editing by Kim Coghill)

((christine.kim@thomsonreuters.com)(822 3704 5665)(Reuters Messaging: christine.kim.thomsonreuters.com@reuters.net))

Keywords: KOREA ECONOMY/SWAPS