South Korea
South Korea’s new SWF chief sets sights on ‘top ten’
Former World Bank executive director takes office as CEO of the Korea Investment Corporation; sets out desire to grow assets under management beyond $200 billion
Korean paper explores ‘divergent’ spillovers to EMs
Macro-prudential policies key to protecting emerging markets from spillovers, research says; normalisation in the US could lead to ‘renewed tensions’
Bank of Korea to adopt 2% target from 2016
Central bank scraps its target range in favour of a fixed point; inflation rises to 1% but board expects it to ‘continue at a low level’ in coming months
PBoC confirms Korea on track to issue first sovereign 'panda bond'
Korean government authorised to raise 3bn yuan in interbank market, China's central bank confirms; Seoul reportedly marketing bond during China roadshow this week
Cycles in Korean unemployment explained ‘mostly’ by domestic shocks, paper finds
Working paper estimates a new Keynesian model with labour market frictions, designed to mirror the Korean economy, to study relationship between different shocks and dynamics
Bank of Korea research tots up damage from capital flows
Researchers attempt to measure the impact of foreign financial flows on the real economy, finding the type of flow matters for growth, but all types increase volatility
Bank of Korea researchers dig into disaggregated data on inflation targeting
Adopting inflation targeting in Korea lowered the mean, volatility and persistence of inflation throughout the country, but a look at disaggregated data reveals more about transmission
IMF economists release study on LTV and DTI limits in six countries
Working paper studies the implementation and effectiveness of loan-to-value and debt-service-to-income limits in Brazil, Hong Kong, Malaysia, Poland, Romania and South Korea
IMF paper identifies countries that ‘pass through’ spillovers
Individual countries can amplify, absorb or block spillovers, depending on their economic and structural characteristics, researchers at the IMF find
Bank of Korea annual report sheds light on organisational shake-up
Central bank expanded research functions, improved communications, and established a ‘task force’ to examine the effectiveness of internal management in 2014
Korea introduces RMB discount window
Bank of Korea to launch emergency liquidity facility offering Chinese currency as part of broader infrastructure push aimed at bolstering Seoul's role as RMB hub
Governor wants freer thinking at 65-year-old Bank of Korea
Juyeol Lee hints at coming shake-up, calling for openness to ‘creative ideas’ as central bank prepares to set new inflation target
Virus outbreak prompts Bank of Korea rate cut
Deadly Mers virus a key factor behind central bank’s decision to ease policy as economic recovery shows signs of faltering
IMF deputy warns ‘leakages’ could undermine macro-prudential policy
Mitsuhiro Furusawa says macro-prudential tools could force financial activities into a less regulated sector or country, but adds little is known about benefits of ‘leaning against the wind’
Korea’s record rates have further to fall, says economist
Rate cuts still look to be on the horizon despite the Bank of Korea holding steady at record lows today, says economist; government also likely to have to provide further stimulus
Bank of Korea paper examines global liquidity drivers
Researchers at central bank explore transmission of global liquidity shocks from advanced to emerging market economies; warns there is no ‘silver bullet’ response
Bank of Korea governor sees imbalances worsening
Juyeol Lee warns a ‘fundamental rebalancing’ may be the only way to achieve longer-term growth; external imbalances may also deteriorate
Bank of Korea turns focus to stability threats after rate cut
Bank of Korea cuts rates to historic low, but shift in language indicates growing concerns over financial stability
Amro revamped in agreement struck at IMF meetings
Macroeconomic Research Office will become an international organisation when agreement is ratified, 'contributing further to regional financial stability'
Korea needs more women and young people in work, paper finds
Labour market ‘duality' and low youth and female employment are holding back growth, according to paper written by Bank of Korea and IMF economists
Bank of Korea cuts interest rate to lowest level since 2010
Decision prompted by ‘much worse' business sentiment than expected, governor says; analysts expect limited boost to GDP as economic slowdown is ‘structural in nature'
Chiang Mai Initiative doubled in size to $240 billion
Financial safety net for China, Japan, Korea and the Asean nations doubled in size; Bill Allen describes the initiative as 'ornamental' as it has never actually been used
Bank of Korea predicts sharp inflation increase
South Korea’s central bank expects annual inflation to climb above 2.5% in the fourth quarter, suggesting the MPC will turn its attention to rate increases later this year
Foreign banks acted as 'buffer' on Korean monetary policy during the crisis
Bank of Korea working paper examines the impact of foreign banks on the central bank’s monetary policy transmission mechanism during the recent crisis