SEOUL, Jan. 7 (Korea Bizwire) – South Korea’s central bank head will attend a bimonthly meeting of central bank governors from around the world, where they will exchange views on the latest financial market conditions, the Bank of Korea (BOK) said Thursday.
BOK Gov. Lee Ju-yeol will head to Basel, Switzerland, on Friday for the two-day meeting of the Bank for International Settlements over the weekend.
BIS currently has 60 member countries, including Japan, China and the United States.
The upcoming meeting will be the first of its kind since the U.S. Federal Reserve raised its key rate for the first time in nearly a decade late last year in what is widely seen as the first of a series that could prompt a mass outflow of foreign capital from emerging market countries.
“During the duration of the BIS governors’ meeting, Gov. Lee also plans to attend the Meeting of Governors from Major Emerging Market Economies and the Global Economy Meeting to exchange views on recent global economy and financial market conditions with central bank governors of other major member nations,” the BOK said in a press release.
The BOK chief will also attend a meeting of the Basel Committee on Banking Supervision before returning home on Tuesday, it added.’