SEOUL, Jan. 21 (Korea Bizwire) — The Bank of Korea on Wednesday introduced an in-house artificial intelligence system developed in partnership with Naver, the country’s largest internet company, as the central bank moves to strengthen its research capacity and safeguard control over sensitive financial data. The system, known as BOKI — short for Bank of Korea [...]
SEOUL, Jan. 15 (Korea Bizwire) — South Korea’s central bank kept its benchmark interest rate unchanged Thursday, signaling caution as a weakening currency and persistent inflation risks narrowed the scope for further monetary easing. The Monetary Policy Board of the Bank of Korea voted unanimously to hold the policy rate at 2.5 percent, extending a pause [...]
SEOUL, Sept. 18 (Korea Bizwire) — South Korea could soon face a tipping point where traditional monetary policy loses its potency, Bank of Korea Governor Rhee Chang-yong warned Friday, citing the country’s rapid demographic decline as a structural risk that could push interest rates toward their effective floor. Speaking in Washington at the International Monetary [...]
SEOUL, June 30 (Korea Bizwire) — The South Korean central bank on Monday lifted restrictions on local institutions investing in foreign currency-denominated bonds issued for domestic use, known as kimchi bonds, in an effort to improve foreign exchange liquidity, officials said. Under the new measure, foreign exchange institutions, including foreign exchange banks, securities firms and [...]
SEOUL, June 10 (Korea Bizwire) — As momentum builds for the launch of won-backed stablecoins in South Korea, the Bank of Korea (BOK) is mounting a vocal defense of the traditional monetary system, warning that poorly designed frameworks could undermine financial stability and weaken the won’s position as legal tender. The central bank will host [...]
SEOUL, April 7 (Korea Bizwire) — The South Korean market could face heightened volatility for a longer-than-expected period due to the Donald Trump administration’s sweeping tariff policy, the central bank said Monday, calling for prompt implementation of market stabilization measures when necessary. Bank of Korea (BOK) Deputy Gov. Ryoo Sang-dai made the assessment during an [...]
SEOUL, March 27 (Korea Bizwire) — The South Korean central bank warned Thursday of the possibility of increased volatility in the financial market and its potential impact on the country’s financial stability amid weak economic growth and high uncertainties at home and abroad. The Bank of Korea (BOK) made this point in its latest financial [...]
SEOUL, March 21 (Korea Bizwire) — The Bank of Korea has called for aggressive corporate investment and bold regulatory easing to accelerate South Korea’s service exports, emphasizing the need to build an independent content export infrastructure that doesn’t rely on foreign platforms. In a report titled “Current Status and Future Direction of South Korea’s Service [...]
SEOUL, Feb. 6 (Korea Bizwire) – South Korea logged a current account surplus for the eighth straight month in December, backed by strong exports and an increased trade surplus, central bank data showed Thursday. The country’s current account surplus reached US$12.37 billion in December, following the surplus of $10.05 billion a month earlier, according to [...]
SEOUL, Feb. 5 (Korea Bizwire) - The South Korean central bank said Wednesday that uncertainties remain high regarding prices of global oil and farm produce, the local currency and domestic demand, which could affect inflation down the road. Bank of Korea (BOK) Deputy Gov. Kim Woong made the assessment during a meeting meant to check [...]