South Korea
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.
Korea considering revaluation, W100,000 notes
Bank of Korea Governor Park Seung said on Sunday 11 January that after the general election in April, the central bank would propose a currency revaluation, and also issue W100,000-bills.
Limit foreign takeovers, says Korean central bank
The Bank of Korea expressed its concern over growth in foreign ownership in the country's financial system on 21 December and called on the government to delay the privatisation of banks so that domestic buyers could be found.
Korean central bank OKs reserves proposal
The Bank of Korea said on Thursday 11 December that it would agree to requests by the government to entrust part of the central bank's foreign exchange reserves to a newly proposed state-managed agency, according to a report by joonjang Ilbo. The bank…
Korea to be 'major financial player' - government
The Korean government believes it is emerging as a major financial player, reports the Korea Herald, with its plans to embark on more aggressive and large-scale fund management starting next year.
Korean cb, government differ on reserve management
A Korean presidential committee has said it will grant a soon-to-be-established corporation management control over about $20 billion in foreign reserves despite objections from the Bank of Korea, according to the Korea Herald. The BOK argued that the…
BOK opens up office in Beijing
The Bank of Korea said on Thursday 4 December thatit has opened a new office in Beijing, reports Chosun Ilbo. The BOK said it was the first foreign central bank to open an office there.
'Computerized' bank cards coming to Korea
The Bank of Korea said Monday, according to the Chosun Ilbo, that from next year integrated-circuit (IC) chips would replace magnetic strips in bank cards. Korea's Financial Supervisory Service said it plans to issue IC credit cards on a trial basis…
IMF: South Korea on road to recovery
The IMF has forecast growth rates of 4.75 percent in 2004 and 5.5 percent in 2005 for South Korea, according to CNN. The Fund's Asia-Pacific chief Joshua Felman said on Tuesday 18 November that the Korean economy was on its way to recovery, but stressed…
BOK chief brushes off inflation worry
Bank of Korea governor Park Seung said Monday 10 November at the BIS meeting in Bangkok, according to the Korea Herald, "It's true that Korea's foreign-exchange holdings have grown considerably this year, putting upward pressure on the money supply".
Interview with the Governor of the Bank of Korea
In an interview published by The Chosun Ilbo, Governor Park Seung of the Bank of Korea spoke at the central bank building about the problem with rising housing prices. "It is difficult to solve the property speculation issue fundamentally without drastic…
Magazine gives 'A Grade' to BOK chief
The US financial market monthly Global Finance has rated BOK Governor Park Seung as part of the highest "A group" of heads of global central banks, according to a report by Chosun Digital. A press release from the Bank of Korea said Federal Reserve…
Bank of Korea - Annual Report 2002
The Bank of Korea has published its Annual Report for the year ended 2002. During 2002, the Korean economy showed a favorable performance with its growth rate rising sharply, prices stabilizing within their target range, and the current account…