South Korea
New BOK chief says policies should be timely
The new Bank of Korea governor emphasised at a weekend press briefing that 'timeliness' was vital in enforcing monetary policy.
New BOK governor
Lee Seung-tae, designated by President Roh as the Bank of Korea's new governor, inherits both great authority and formidable responsibility, according to this Opinion piece published on Sunday 26 March.
Comment: Park Seung's term expires
Lee Seong-tae is likely to be confirmed as the new governor of the Bank of Korea next week. The incumbent governor, Park Seung, leaves the central bank calling for more independence from the government for his successor.
New BOK governor named
President Roh Moo-hyun on Thursday 23 March appointed Lee Seong-tae, deputy governor of the Bank of Korea (BOK), as the new governor, his office Cheong Wa Dae announced.
Park Seung says BOK needs more independence
Outgoing Bank of Korea governor Park Seung said on Tuesday 21 March the central bank has gained a greater level of independence during his reign but more still needs to be done.
New BOK chief to be named this week
This article published on Tuesday 21 March looks at the changes that will be seen in the Bank of Korea's ranks soon. As well as a new governor, there will also be a significant change in the line-up of the bank's seven-member monetary policy committee,…
Poll shows BoK employees favour Lee Seong-tae
Nearly half of the Bank of Korea's staff believe the BoK's vice head Lee Seong-tae is the best candidate for its next governor, a poll reported by Asia Pulse said.
Bank of Korea's tarnished image
According to this recent editorial, the Bank of Korea has dealt a staggering blow to its image as the issuer of legal tender by deciding to send 160,000 banknotes in its possession back to the print shop because they are suspected of printing defects.
Bank of Korea chief to visit Japan
The governor of South Korea's central bank will visit Japan this week on a three-day trip to sign a cooperation agreement with the Bank of Japan.
Bank of Korea hikes rates again
The Bank of Korea raised its benchmark overnight call rate by 25 basis points at their monthly monetary policy meeting in Seoul yesterday. In doing so, governor Park Seung and his six fellow policymakers raised the overnight call rate to 4%.
Enough said, Mr. Park
This Editorial published on Friday 13 January urges Bank of Korea Governor Park Seung not to cause any more losses to the country through his verbal mistakes. Following comments made Thursday by Mr Park, the won surged immediately, causing a big…
BOK vows intervention to stabilise won
The government and the Bank of Korea will make significant efforts to stabilise the Korean economy, according to Korea's top economic official.
Korea using all means to weaken currency
South Korea's finance ministry said on Friday 6 January it would mobilise all possible means to curb the won's recent sharp appreciation against the US dollar.
Duck-soo urges BoK caution
South Korea's finance minister, Han Duck-soo, said on Tuesday 15 November that the Bank of Korea should be "more cautious" in raising interest rates.
No rates change, recovery "gradual" - BoK's Park
The Bank of Korea (BoK) on Thursday 10 November left its benchmark short-term interest rate unchanged at 3.5 percent. The decision was widely expected by market participants, following a 25 basis point increase last month.
BoK feels the pinch
Bank of Korea (BoK) officials are up in arms about alleged plans by the government to scrap some of the central bank's 16 regional headquarters and cut its payroll.
Missing ingredient in BOK
According to this article published on Wednesday 26 October, although the Bank of Korea's interest rate policy is supposed to be as powerful as the Fed's, few still believe that the BOK operates its monetary policy independently from the government.
BOK report sees China dominant economy by 2040
China will become the world's largest economy in terms of GDP by 2040, and India will closely follow its heels, according to a soon to be released report from the Bank of Korea.
S. Korea fin min says cb can support recovery
South Korea's Minister of Finance and Economy Han Duck-Soo said Tuesday 13 September that the Bank of Korea should use its monetary policy to support economic growth as inflationary pressure is benign.
Interview with IMF's Rodrigo de Rato
In an interview published this week IMF managing director Rodrigo de Rato warns that high oil prices could halt Korea's economic recovery. He also says sluggish export growth could put a brake on the recovery.
BOK will 'seriously' consider rate hike next month
Bank of Korea governor Park Seung said the central bank may raise its benchmark interest rate as early as next month as it needs to act before a full economic recovery.
Growth rate in Korea at second-lowest: ADB
Korea's economic growth rate for 2006 will be the second-lowest out of a dozen Asian economies, the Asia Development Bank predicted in a report.
Bank of Korea chief pledges wealth to education
The governor of the Bank of Korea, Park Seung, said this week that he is willing to donate his personal wealth to help the nation's education when he dies.
Korea suggests it may hike rates
The Bank of Korea said on Thursday 11 August that it would consider increasing interest rates if the economy recovered fully.