South Korea
BOK issues report backing strong won
The Bank of Korea (BOK) has issued a report supporting the appreciation of the national currency as part of steps to promote balanced growth between domestic demand and exports.
Korea's central bank to restructure
The Bank of Korea (BOK) is to revamp its internal structure in an apparent bid to repair its reputation as an influential voice in the nation's economy, the Korea Times reported Tuesday.
Asian central banks should follow S Korea's lead
The more Asian central banks try to convince the markets that their judgment on interest rates isn't clouded by political interference, the less anyone believes them, this article says. It suggests policy makers from Jakarta and Manila to Bangkok and…
BOK expects first loss in decade
Governor of the Bank of Korea Park Seung told parliament on Tuesday 12 October that the central bank predicted it would suffer a loss of about 300 billion won ($261.8 million) this year.
BOK governor warns on asset price bubble
Bank of Korea (BOK) Governor Park Seung said on Thursday 7 October that further interest rate reductions could lead to an asset price bubble and that current rates were sufficient to support investment and production activities of businesses.
BOK sees salaries soar
The Bank of Korea said in a report to the National Assembly that average annual salary has jumped by 46 percent in the last four years.
Korea's possible central bank deficit
The Bank of Korea is highly likely to register a deficit this year for the first time in a decade, according to this article. The Ministry of Finance should refrain from meddling too much in the market and let the central bank do its job of stabilising…
Korean banknote redenomination 'not urgent'
Bank of Korea Governor Park Seung said on Thursday 9 September that changing the denominations or issuing higher-value banknotes is not an urgent issue. Currently, the largest denomination is a 10,000 won note, which is worth less than $10.
BOK makes unexpected cut in interest rate
The Bank of Korea unexpectedly cut its key interest rate by a quarter percentage point on Thursday 12 August to give a spur to the lacklustre economy.
New South Korean regulator named
Roh Moo-hyun, South Korea's president, named Yoon Jeung-hyun, a director of the Asian Development Bank, as the new head of the country's top financial regulator this week.
Park: Korea's fast changing economic environment
In a speech on 'Swiftly changing economic environment in Korea' given on 3 June, Dr Seung Park of the Bank of Korea said the hollowing-out of manufacturing may well appear threatening to the Korean economy in certain respects and in the short term…
S-N Korea's central bankers meet for first time
The heads of the central banks from North and South Korea met for the first time last Saturday, 26 June, in Switzerland.
BOK agrees to train Asian bankers
The Bank of Korea (BOK) will offer a training course on operations and the role of the "central bank" to nine employees from central banks in six Asian nations.
Korea cuts coin issue
The amount of coins issued by the Bank of Korea was cut sharply last year because of declining demand, the central bank said this week.
BOK chief concerned over oil prices
Bank of Korea Governor Park Seung said on Saturday 15 May that high oil prices were the main source of economic concern for Korea at the moment.
Korea recommends three for monetary board
The government and the Bank of Korea this week recommended three prominent financial experts as new members of the central bank's interest rate-setting board.
Bank heist movie worries Bank of Korea
"The Big Swindle" is just a movie, but the domestic film released this week is giving the Bank of Korea cause for concern over security. Fears are that the movie could encourage people to try and rob the central bank!
Bank of Korea admits system crash
The Bank of Korea has confirmed that its computer network suffered an unprecedented five-hour crash on Friday reducing the central bank to executing transactions with faxes.
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.
Park on Korea's bank supervisory arrangements
In a speech on 'Korea's experience in the choice of bank supervisory arrangements' given on 12 February, Dr Seung Park of the Bank of Korea said he thinks it is crucial that the supervisory agency be required to consult with the central bank before the…
IMF MD Horst Kohler's statement on visit to Korea
During his visit to Korea International Monetary Fund (IMF) Managing Director Horst Kohler issued a statement in Seoul Thursday. He expressed his great pleasure at returning to Korea for a second time.
BOK chief calls for more authority
Governor of the Bank of Korea Park Seung on Wednesday 11 February called for more authority to conduct independent on-site inspections of financial institutions.
BOK governor to attend BIS meeting
Bank of Korea Governor Park Seung plans to leave for Hong Kong on Sunday 8 February to attend the Asian Central Bank Governors' Meeting held by the Bank for International Settlements (BIS).
Forex reserves hit record high in South Korea
South Korea's foreign exchange reserves hit a record high in January, helped by the government's continued dollar buying.