Bank of Korea (Image courtesy of Yonhap)
SEOUL, Jun. 4 (Korea Bizwire) – South Korea’s central bank is constructing a broadcast-quality studio to boost its communication efforts with the public on monetary policy decisions.
The Bank of Korea recently awarded an 800 million won contract to purchase and install professional equipment for the studio, which will be located on the fourth floor of an annex building in central Seoul, the bank said on June 3.
Plans call for outfitting the studio walls with large LED display panels measuring 2.7 meters high and 9.6 meters wide. Major broadcasters commonly use such LED walls to display photos, graphics and other visuals during news programs.
The Bank of Korea will also acquire high-end filming, recording, editing and audio equipment capable of producing ultra-high-definition video. It will include live streaming capabilities.
Additional features encompass a control room system, specialty lighting rigs and other infrastructure for full studio operations.
In soliciting bids from outside contractors, the central bank emphasized that the studio must be built to standards enabling terrestrial, cable and internet protocol television production quality. It specified adherence to domestic and international broadcast norms while allowing for real-time YouTube integration, foreshadowing attempts at live programming.
The Bank of Korea will also acquire high-end filming, recording, editing and audio equipment capable of producing ultra-high-definition video. It will include live streaming capabilities. (Image: Pixabay/CCL)
The Bank of Korea has already rolled out diverse content on its official YouTube channel since last year. Alongside video explainers of key reports by department heads, it has premiered series like “BOK Academy” on central banking history and “BOK Economy” discussing financial issues.
Other initiatives include a vlog by an economist, comment-section events, and a talk show titled “This Area’s Economist.” Its YouTube subscriber base is approaching 70,000.
“We’ll be able to differentiate filming techniques and improve broadcast quality in a more professional setting,” said a Bank of Korea official, anticipating the studio’s opening around September.
The public outreach drive reflects the priorities of Governor Rhee Chang-yong. At a press briefing last month, he stressed, “It’s desirable for the bank to communicate more with the public and provide information to propel its advancement.”
Rhee’s moves like disclosing policymakers’ interest rate forecasts three months out and introducing quarterly economic projections starting in August are seen as embodying a similar transparency philosophy.
M. H. Lee (mhlee@koreabizwire.com)
