South Korea
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.
Survey shows Seoul residents favour W100,000 notes
SOUTH KOREA - Eight out of every 10 people in Seoul are in favour of the circulation of banknotes denominated 50,000 won and 100,000 won, according to a survey Wednesday.
Korean gov't vows to maintain price stability
KOREA - The Korean government has decided to make efforts to stabilize prices by taking appropriate measures during the rest of the year. The decision was made yesterday during a meeting of 11 ministers presided over by Deputy Prime Minister Jeon Yun…
BOK governor concerned over current account
SOUTH KOREA - Park Seung, governor of the Bank of Korea (BOK), said Wednesday there are mounting concerns that the current account balance could swing into the red due to rising travel deficits and reckless consumption.
Bank of Korea - Annual Report 2001
ANNUAL REPORT - The Bank of Korea has published its Annual Report for the year ended 2001.
South Korean economy grows but pace slows
SOUTH KOREA - South Korea's economy grew 1.4 percent in the second quarter, down from a 1.9 percent rise in the previous three months, as growth in consumer spending and construction slowed, the central bank said on Thursday.
Korean terms of trade deteriorate in 2nd Quarter
KOREA - The nation's terms of trade deteriorated in the second quarter of the year, due to global hikes in the price of oil the Bank of Korea reports.
BOK unlikely to make up for gov't losses
SOUTH KOREA - The Bank of Korea (BOK) expressed reservation yesterday about taking actions to make up for losses incurred by irretrievable public funds that were used to stabilize the economy in the wake of the 1997 IMF financial crisis.
Counterfeit bank notes on rise in Korea 1st half
SOUTH KOREA - The number of attempts to use forged bank notes increased considerably in the first half of the year, as counterfeiters have easier access to computer scanners and colour photocopiers.