Bank of Korea (BoK)

Korea cuts by 75bp on signs of slowdown

The Bank of Korea on Monday slashed its key rate by 75 basis points in a surprise move to counter an economic slowdown. The central bank also broadened its collateral rules to include some mortgage-backed securities on signs of a liquidity shortage.

Seoul moves to stem won slide

The Bank of Korea and ministry of finance issued a joint statement on Monday declaring their intention to intervene to prevent further falls in the foreign exchange market.

BoK chief on financial supervision

In this speech, the governor of the Bank of Korea, Seong-tae Lee, suggests that financial reforms and stricter supervision standards ensured that the damage from the 2003 credit card crisis was minimal.

Duck-soo urges BoK caution

South Korea's finance minister, Han Duck-soo, said on Tuesday 15 November that the Bank of Korea should be "more cautious" in raising interest rates.

Interview: Seung Park

The governor of the Bank of Korea discusses reserve management, central bank independence and closer cooperation in East Asia in conversation with Robert Pringle.

Strikes may delay economic recovery: BOK chief

Bank of Korea (BOK) governor Park Seung said on Thursday 7 August that the central bank will keep a close eye on economic developments as there are both positive and negative signs present, reported the Korea Times. But if labour and risk management…

Global settlement bank CLS to recognise Korean won

The CLS Bank has said it recognises the Korean won as an eligible currency for the bank's settlement process in principle, according to The Korea Herald. Bank of Korea officials noted that the inclusion of the local currency as a CLS currency would free…

South Korea central bank sees economic recovery

Governor Park Seung of the Bank of Korea said on Friday 25 July, according to Reuters, that the economy could enter a recovery phase in the final quarter of this year but for the present, "our economy is in a very difficult spot", he added.