South Korea
Bank of Korea - Annual Report 2004
The Bank of Korea has published its Annual Report for the year ended 2004. Over the course of 2004, despite the buoyancy of exports, the state of overall business activity showed little improvement because of the protracted downturn of domestic demand,…
Korea launches reserve management agency
South Korea launched an independent agency Friday 1 July which will manage part of its foreign exchange reserves, seeking to boost investment returns.
BOK governor's trouble
Following Bank of Korea governor Park Seung's harsh criticism and calls for his his resignation this week, this article says the attack is likely to cause a stir as the law stipulates the BOK chief's four-year term to guarantee the central bank's…
Bank of Korea governor urged to quit
Lawmakers this week called for Bank of Korea governor Park Seung to take "full responsibility" and resign following recent comments he made.
Korea postpones currency swap decision
The Bank of Korea (BOK) postponed a decision Wednesday 15 June on a proposal to lend some of its foreign exchange reserves to domestic banks through currency swaps, the central bank said.
East Asia's cb heads meet Friday 27 May
The heads of the central banks of South Korea, China and Japan will meet in Seoul on Friday 27 May to discuss various topics, including foreign exchange markets.
IBM transforms Bank of Korea's forex system
A major software giant has said it has completed the transformation of the Bank of Korea's foreign exchange asset management system for foreign exchange reserves.
South Korea to continue currency intervention
South Korea's minister of finance and economy on Thursday 19 May denied a news report that the government has decided not to intervene in currency markets.
BOK sees no shift on yuan rate for now
The Bank of Korea (BOK) said on Tuesday 17 May that China is unlikely to revalue the yuan against the US dollar anytime soon, as its economy depends largely on exports to boost growth.
South Korea plans banknote redesign
The Bank of Korea said Monday that it will begin issuing currency bills with new security features next year, to combat an explosion of counterfeit banknotes.
Bank of Korea to publish rate discussions
The Bank of Korea (BOK) said on Friday 15 April that it intends to put details of what has been discussed at the seven-member Momentary Policy Committee on its website.
South Korea drops revaluation plan
South Korea's plan to raise the value of the local currency and issue higher face-value banknotes has been dropped for fear of a possible negative impact on the overall economy.
No plan to diversify Korea reserves 'for now'
South Korea has no intention of diversifying its rising foreign reserves, as such a move could further strengthen the Korean currency against the US dollar, the Bank of Korea's chief was quoted as saying on Sunday.
Asian central bankers to meet in May
Central bank governors of South Korea, Japan and China plan to discuss their currencies and foreign exchange reserves next month in Seoul, Park Seung said Sunday.
BOK records 150 billion won loss
The Bank of Korea revealed on Thursday 31 March that it made a loss in 2004 for the first time in 10 years due to large interest payments on bonds sold to adjust the nation's money supply.
Are Korea's rising foreign reserves bane or boon?
Korea's massive foreign reserves have sparked debate on the optimum level of reserves and the management of the currency supply. But according to this article, 'Are rising foreign reserves bane or boon?', the key question is not what level the central…
Bank of Korea not to alter dollar reserves- report
The Bank of Korea does not intend to alter the proportion of its foreign exchange reserves denominated in US dollars, although it will seek to maximise profit from its forex holdings by investing in a broader range of assets, the Wall Street Journal…
BOK to increase efficiency of reserve management
The Bank of Korea (BOK) said it will strengthen its manpower in the foreign currency asset management divisions to more effectively manage increasing foreign exchange reserves.
South Korean finance minister resigns
South Korea's finance minister resigned on Monday 7 March over media allegations about his involvement in lucrative real estate deals.
Should the euro be the reserve currency?
In this article published on Sunday 27 February, Roger Bootle says that although South Korea denied speculation it is considering switching some of its reserves out of dollars and into euros, it would be startling if South Korea, and other countries,…
BOK's Park says 'no such plans' on dollar sales
The Bank of Korea has no plans to sell dollars out of the country's foreign reserves and replace them with other currencies, bank chief Park Seung said on Thursday 24 February .
South Korea's central bank denies dollar sale plan
The Bank of Korea denied on Wednesday 23 February that it planned to offload its US dollar assets after media speculation it was about to do so sent the US currency falling.
Bank of Korea plans to diversify reserves
South Korea's central bank has said it plans to diversify its reserves, which are the world's fourth largest, into a greater variety of currencies. It's reserves have traditionally been held in U.S. Treasuries and agency debt.
Forex reserves top US$200bn in South Korea
South Korea's foreign exchange reserves passed the US$200-billion mark for the first time, says a report from the Bank of Korea released on Thursday 17 February.