South Korea
Korean economy in serious condition: BOK governor
Governor Park Seung of the Bank of Korea said on Thursday 29 May that low growth and high unemployment pose a threat to the economy which has been heading toward a downturn since the third quarter of last year, according to the Korea Times.
BOK Governor discounts deflation risk
The Bank of Korea (BOK) governor Park Seung said on Thursday 22 May that there is little possibility of deflation at this point with the current heated real estate market, according to a report in the Korea Times.
Bank of Korea appoints new deputy governor
The Bank of Korea has promoted Assistant Governor Lee Seong-tae to deputy governor, reports the Yonhap news agency. He replaces Park Cheul who resigned voluntarily before the expiry of his tenure in July.
BOK Governor suggests NE Asian economic bloc
The governor of the Bank of Korea Park Seung has said that the Northeast Asian nations should beef up economic cooperation in the region in keeping with the global trend toward regional economic blocs, according to the Korea Times
Wanted: An Alan Greenspan for South Korea
In a recent interview South Korean. When asked what he thought the Bank of Korea should do to boost growth, Bloomberg News reports thathe showed his determination to maintain the bank's independence: "I think that issue should be determined by the…
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.
Are Asian central banks easing up on derivatives?
An article, first published by Reuters, looks at the relaxation of restrictions on credit derivatives in Asian markets by central banks. Although these countries have traditionally blocked such instruments for fear of harming their exchange rates looser…
Korea's central bank props up markets
Following another corporate accounting scandal, the Bank of Korea has intervened to in Korean money markets, according to a BBC news report.
S. Korea central bank concerned over nuclear issue
Bank of Korea governor Park Seung has spoken of the concerns he has for the Korean economy with geopolitical factors and the North Korean nuclear issue, as reported by Yonhap news agency.
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.
OECD advise independence for S Korea central bank
The Organization for Economic Cooperation and Development is set to recommend that South Korea guarantee more independence for its central bank in making monetary policy, it was reported on Tuesday.
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.
BOK likely to raise call rate: Deutsche Bank
KOREA - Deutsche Bank yesterday forecast the Korean central bank will increase the overnight call rate by 25 basis points to 4.50 percent at its Monetary Policy Committee meeting slated for tomorrow.
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.
Cen bank of Korea, Japan, China to meet regularly
KOREA - The central bank governors of South Korea, China and Japan have agreed to hold their first regular meeting in Beijing next spring in order to enhance economic ties.
BOK moves to curb excessive liquidity
KOREA - The central bank will reduce preferential credit to local banks during the fourth quarter of the year, in a move to control excessive liquidity in the market.