Korean central bank OKs reserves proposal

The Bank of Korea said Thursday 11 December that it would agree to requests by the government to entrust part of the central bank's foreign exchange reserves to a newly proposed state-managed agency. The bank had previously objected to the idea but governor Park Seung said he understood why the government wants the new agency.

Source: Joongang Ilbo

In a surprising reversal, Park Seung, governor of the Bank of Korea, said yesterday that he agreed to entrust part of the central bank's foreign cur