South Korea
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.
BOK holds rates, sees signs of recovery
The central Bank of Korea kept its key interest rate unchanged at a record low 3.25 percent on Tuesday 15 February, citing accelerating inflation amid signs of a much-awaited economic recovery.
Korea's banknotes set for new look
Korea's banknotes are to get a radical overhaul to curb rising forgery. The Bank of Korea said Monday 14 February it plans to incorporate high-tech features in the new notes, including holograms.
Korea holds rates at record low
South Korea's central bank on Thursday 13 January froze its key interest rate for January at a record low of 3.25 per cent, citing robust exports.
BOK pledges to maintain price stability
The Bank of Korea said on Wednesday 5 January that it will focus on making sure the country does not exceed its inflation target this year, while promoting coodination between monetary, fiscal, foreign exchange and regulatory policies.
BOK expected to report losses
South Korea's central bank is expected to have recorded more than 100 billion won (US$96.4 million) in losses last year following interest payments for debts sold to control liquidity ballooned, officials at the Bank of Korea said Tuesday.
Korean won climbs on central bank comments
South Korea's won had its biggest gain in more than two weeks Tuesday after the Bank of Korea signaled it won't sell the currency to protect exporters, prompting them to speed up the conversion of their overseas earnings.
Bank of Korea says won's rise 'too fast'
The pace of the won's recent rise against the US dollar has been too fast, compared to other currencies, said Bank of Korea assistant governor Rhee Yeung-Kyun.
Korea's fin min criticised for meddling in BOK
South Korea could face another financial crisis if the Finance Ministry continues to intervene in the country's interest rate policy and management of foreign reserves, a member of the central bank's policy committee warned on Friday 10 December.
Korea's financial watchdog to get Beijing office
South Korea's top financial watchdog will open an office in Beijing by January next year, the Financial Supervisory Service (FSS) said on Wednesday 8 December.
Korea's deputy PM calls for rate cut
Korea's Deputy Prime Minister for Finance and Economy Lee Hun-jai is reported to have urged the Bank of Korea to cut interest rates two days before the central bank is due to meet.
South Korea's reserves hit new high
South Korea's foreign reserves rose to a new high in mid-November, helped by an increase in the dollar-conversion value of non-dollar assets, the Bank of Korea said Wednesday.
Korea cuts interest rates to record low
The Bank of Korea unexpectedly cut interest rates to a record low of 3.25 per cent on Thursday 11 November, moving its policy focus to growth from inflation.