South Korea
Korea to export currency for world cup period
SOUTH KOREA - The Bank of Korea (BOK) today said that domestic lenders will export 50 billion won (US$37.82 million) worth of the country's money abroad to facilitate currency exchange for foreigners who will visit Korea during the FIFA World Cup period.
10 won coins to become less visible
SOUTH KOREA - The Bank of Korea (BOK) said on Tuesday that fewer 10 won coins will be available in the Korean market this year.
BOK head should be guaranteed 4-year term-Union
SOUTH KOREA - The Bank of Korea (BOK) governor should be guaranteed a four-year term regardless of the results of the presidential election scheduled for December this year, BOK's labor union and a civic group maintained yesterday, reports the Korea…
BOK to introduce cyber credit card in October
SOUTH KOREA - The Bank of Korea (BOK) is moving to introduce an online cyber credit card which will be available in October this year.
BOK head to visit Myanmar central bank
SOUTH KOREA - Bank of Korea Gov. Chon-Chol-hwan will travel to the Southeast Asian country of Myanmar till next Monday at the invitation of Kyaw Kyaw Maung, head of Myanmar's central bank.
Bank of Korea hosts Asian central bank meeting
SOUTH KOREA - The Bank of Korea will today host the "14th Pacific Basin Central Bank Conference" at its headquarters in Seoul the central bank said.
IMF: South Korea's upgrade
SOUTH KOREA- Ajai Chopra, the IMF's assistant director for Asia and the Pacific said the sovereign rating upgrade for South Korea by Standard & Poor's Corp. Tuesday was "entirely deserved".
BOK to pursue flexible monetary policy
SOUTH KOREA - The Bank of Korea (BOK) will manage its monetary policy in a flexible manner, paying attention to its effect on the real economy, BOK governor Chon Chol-hwan said Thursday in a speech.
BOK site flooded with Netizen visitors
SOUTH KOREA - The Bank of Korea (BOK) is drawing more interest in cyberspace, with the BOK reporting that its web site has recorded a monthly average of about 134,000 hits so far this year, twice as much as two years ago.
Bank of Korea gov to attend Kansas fed symposium
SOUTH KOREA - Bank of Korea Govenor Chon Chol-hwan will begin a six-day visit to Kansas City on 29 August to attend a symposium organised by the U.S. city's Federal Reserve Bank (FRB).
Seoul pays off its IMF debts
SOUTH KOREA - South Korea has fully repaid the last instalment of a multi-billion dollar loan from the International Monetary Fund.
KDB to operate central bank's loan to SMEs
SOUTH KOREA - The state-run Korea Development Bank (KDB) will soon be subject to the central bank's ceiling on loans to small-and medium-sized enterprises (SMBs).
Credit card use doubles in South Korea
SOUTH KOREA - Apparently boosted by a range of government measures encouraging the use of creditor cards, the daily use of credit cards almost doubled in the first half of this year from a year ago, the Bank of Korea said on 5 August.
Chief to IMF office in Seoul
SOUTH KOREA - Paul Grunwald has been appointed as chief of the IMF office in Seoul, South Korea.
Korea needs to monitor emerging markets
SOUTH KOREA - BOK Gov. Korea should pay close attention to developments in Latin American markets to prevent shockwaves reaching the peninsula, Bank of Korea (BOK) Gov. Chon Chol-hwan said on 18 July.
Korea to adopt flexible monetary policies
SOUTH KOREA - Bank of Korea Governor Chon Chol-hwan said 16 July he will be flexible with the bank's monetary policies in view of the uncertainties surrounding both international and domestic economies, and will pay close attention to inflation and real…
Korea cbank expects inflation to fall
The Bank of Korea's latest inflation report enviages inflation falling to 3% in the second half of 2001
Korea's KFTC-BoK assistant governor new president
SOUTH KOREA - The Korea Financial Telecommunications and Clearings Institute (KFTC) selected Yoon Gye-sub, the assistant governor of the Bank of Korea (BOK), as its new director at a general meeting held on Apr 4, 2001.
South Korea's FX reserves dip to $94.44bn
SOUTH KOREA - The South Korea's foreign exchange reserves dipped by $890 million from a month earlier to $94.44 billion as of late Mar 2001, falling for the fourth straight month, the Bank of Korea said Apr 2.
BoK criticises govt for interfering in mon policy
SOUTH KOREA - The Bank of Korea has criticized the government for its regular interference in the country's monetary polices.
Korea foreign currency transactions surged in 2000
Foreign exchange transactions by domestic financial institutions, including spot and futures markets, increased sharply in 2000 to $8.9 billion a day, up from $6.9 billion in 1999, the Bank of Korea said on Mar 11, 2001.
Dollar-Korean won spot rates swayed by forwards
The dollar's movement against the won in the Seoul currency market is being increasingly affected by dollar-won trading on overseas non-deliverable forward (NDF) markets, the Bank of Korea said.
BOK reports 1.5 trillion won in profits for 2000
The Bank of Korea has reported after-tax profits of 1,483 billion won in 2000, down 1,696 billion won from 1999.
IMF advises integrating Korea finance supervisors
A report from the International Monetary Fund has advised South Korea that the Financial Supervisory Commission and the Financial Supervisory Service merge into a single organization, with the status of its chairman on par with the central bank governor.