Managing the tides: the dynamic history and future challenges of Korea’s foreign reserve diversification
Min Soo Kwon
Executive summary
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Appendix 1: Survey questionnaire
Appendix 2: Survey responses and comments
Appendix 3: Reserve statistics
The Bank of Korea (BoK) manages the ninth-largest foreign reserves in the world. By the end of 2023, South Korea’s foreign reserves had surpassed $400 billion, a significant accomplishment credited to the rapid growth of the Korean economy. As our foreign reserves are a product of our foreign exchange policy aimed at stabilising the foreign exchange market, it is of utmost importance that their value be safely preserved and kept liquid at all times. This ensures that the nation can respond to external payment needs in a sufficient and timely manner under unstable market conditions. In
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