You have very substantial reserves. What is your policy on reserve adequacy? How much is enough?
Korea's current level of international reserves, which stood at $192.6 billion at the end of November of 2004, is probably sufficient to cope with any possible short-term outflows of foreign exchange. At the end of June 2004, Korea's short-term external debt with remaining maturity of less than one year was $76.3 billion. The market value of foreign portfolio investment funds in Korea, which is not i