BOK expects first loss in decade

Governor of the Bank of Korea Park Seung told parliament on Tuesday 12 October that the central bank predicted it would suffer a loss of about 300 billion won ($261.8 million) this year.

"Some 300 billion won in losses are expected," Park told legislators on the National Assembly's Finance and Economy Committee.

"If the central bank goes into the red due to reasons like the interest burden, the government should make up for the loss, which would eventually burden taxpayers," said Lee Kye-ahn of