Bank of Korea (BoK)
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.
Outlook for the Korean economy
Seung Park, governor of the Bank of Korea assesses the country’s economic prospects for 2005.
Foreign reserves hit record high in South Korea
South Korea's foreign currency reserves hit a record high of 163.56 billion dollars at the end of March, according to the Bank of Korea.
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.
Korean parliament to push BOK reforms
The Korean parliament's Finance and Economy Committee was set to discuss revisions to the law governing the Bank of Korea on Wednesday after a sub-committee met Tuesday, according to a report by Yonhap News.
Korean deal on monetary board seats criticised
Two organisations that control two seats of the Bank of Korea's seven-member monetary-policy board, have criticized recent moves by the Ministry of Finance and Economy and the BOK to take over their rights to appoint board members, according to the Korea…
BOK governor may get more say over board members
A draft bill may give the Bank of Korea more influence over the appointment of members to its monetary policy board, Dow Jones reports. The proposed bill would increase the number of members the governor, Park Seung, can recommend to the board.
S.Korean law makers push for central bank autonomy
Lawmakers in Korea aim to give the central bank more independence from the government, according to an article in The Korea Times. But the move could be opposed by the finance ministry which feels that policy cooperation is as important as independence.
BOK raises pay for its top executives
Pay for top executives at the Bank of Korea increased by up to 30 per cent last year the central bank said, but the move raised eyebrows elsewhere.
Korea hosts EMEAP
The Bank of Korea began its 24th Executives' Meeting of East Asia and Pacific Central Banks (EMEAP) deputies on 25 November on the southern resort island of Cheju. It is expected that around 35 central bank deputy-governors and executives from EMEAP…
Korean central bank warns of deflation risk
The Korean nation had better be prepared in the event deflation should spring up, the Bank of Korea (BOK) has said. The bank fears a Japan style downward spiral of prices, but acknowledged the fear was low.
Korea - Inflationary pressures likely to mount
KOREA - Consumer-price inflation will likely accelerate in coming months due to wage hikes and the recent rise in international oil prices, the Bank of Korea (BOK) said Thursday.
China beats USA as Korea's largest export market
SOUTH KOREA - China has surpassed the United States in terms of its share of South Korea's export market in the first nine months of this year, the Bank of Korea said Wednesday.
BOK Governor Park to attend BIS meeting
KOREA - Bank of Korea (BOK) Governor Park Seung is leaving for Mexico today to attend the Bank for International Settlements (BIS) governors meeting scheduled for 10-12 November in Mexico City, the central bank announced yesterday.
Korea's foreign ex reserves over $116 billion
KOREA - The Bank of Korea said Saturday the nation's foreign exchange reserves as of the end of October amounted to $116.9 billion, up $305 million from the end of the preceding month.
BOK gov, Monetary policy should focus on growth
KOREA - The Bank of Korea (BOK) should conduct monetary policy in a way that supports current accounts and the employment situation, as well as price stability, the central bank head said at a weekend seminar hosted by the BOK.
BOK urged to focus on long-term inflation target
KOREA - The central bank should set its inflation target on a medium- or long-term basis rather than on an annual basis to maintain price stability more effectively, economic experts said at a seminar on inflation held at the Bank of Korea (BOK) in…
BOK to begin 10th central banking seminar today
KOREA - Nineteen central bank officials from 18 countries will attend a central banking seminar organized by the Bank of Korea (BOK), from today through Friday at the bank's headquarters in downtown Seoul.
Bank of Korea says FX reserves reach $116.69bn
KOREA - The Bank of Korea (BOK) announced yesterday that Korea's foreign exchange reserves stood at $ 116.69 billion as of the end of September 2002, increasing by $ 150 million from the end of August.
BOK governor concerned over current account
SOUTH KOREA - Park Seung, governor of the Bank of Korea (BOK), said Wednesday there are mounting concerns that the current account balance could swing into the red due to rising travel deficits and reckless consumption.
Korean terms of trade deteriorate in 2nd Quarter
KOREA - The nation's terms of trade deteriorated in the second quarter of the year, due to global hikes in the price of oil the Bank of Korea reports.
BOK unlikely to make up for gov't losses
SOUTH KOREA - The Bank of Korea (BOK) expressed reservation yesterday about taking actions to make up for losses incurred by irretrievable public funds that were used to stabilize the economy in the wake of the 1997 IMF financial crisis.