Park on Korea's bank supervisory arrangements
Korea's current supervisory system was introduced in some haste under the extraordinary situation prevailing in the aftermath of the currency crisis six years ago. Therefore, there have been some frictions between the institutions concerned with financial supervision.
In the course of time, its shortcomings have been made good to a considerable extent, but to my mind a number of areas still call for improvement.
I venture the hope, Park concluded, that Korea's experience may serve as a useful reference for member countries in discussing the reorganization of financial supervisory systems.
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Speech by Dr Seung Park, Governor of the Bank of Korea, at the 39th SEACEN Governors' Conference, Colombo, Sri Lanka, 12 February 2004.
Korea's experience in the choice of bank supervisory arrangements
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