Bank of Korea

<!DOCTYPE html> <html lang="en"> <head> <meta charset="UTF-8"> <title>Bank of Korea</title> <meta name="viewport" content="width=device-width, initial-scale=1"> <meta http-equiv="X-UA-Compatible" content="IE=edge"> <link href="https://static-cdn.bok.or.kr/static/commons/bok.ico" rel="icon" type="image/x-icon"/> <link href="https://static-cdn.bok.or.kr/static/eng/css/main.css" rel="stylesheet"/> <script src="https://static-cdn.bok.or.kr/static/jslibrary/jquery-3.5.1.min.js"></script> <script src="https://static-cdn.bok.or.kr/static/jslibrary/jquery.cookie.js"></script> <script src="https://static-cdn.bok.or.kr/static/jslibrary/bootstrap/bootstrap.min.js"></script> <script src="https://static-cdn.bok.or.kr/static/jslibrary/typeahead.bundle.js"></script> <link href="https://static-cdn.bok.or.kr/static/jslibrary/swiper@8/swiper-bundle.min.css" rel="stylesheet"/> <link href="https://static-cdn.bok.or.kr/static/eng/img/main/touch-icon.jpg" rel="apple-touch-icon"/> <link href="https://static-cdn.bok.or.kr/static/eng/img/main/touch-icon.jpg" rel="shortcut icon"/> <script> function getCookie(cookieName) { var cookie = document.cookie; if(cookie.length > 0) { startIndex = cookie.indexOf(cookieName); if(startIndex != -1) { startIndex += cookieName.length; endIndex = cookie.indexOf(";", startIndex); if(endIndex == -1) endIndex = cookie.length; return unescape(cookie.substring(startIndex + 1, endIndex)); } else { return false; } } else { return false; } } $(function() { }); function goEcos(){ window.open("http://ecos.bok.or.kr/"); } </script> </head> <body> <div class="skip"> <a href="#content">Skip to content</a> </div> <div id="wrap">  <script src="https://static-cdn.bok.or.kr/static/search/search.js"></script>  <header id="header" class="family"> <div class="globalHeader"> <div class="container"> <ul> <li> <a href="/imerEng/main/main.do" target="_blank" title="새창열림">Economic Research Institute</a> </li> </ul>  <div class="g-info"> <div class="global"> <ul> <li> <a href="/portal/main/main.do" target="_blank" title="새창열림">KOREAN</a> </li> </ul> </div> </div> </div> </div> <div class="container"> <h1 class="logo"> <a href="/eng/main/main.do"> <span class="logo-portal" role="img" aria-label="Bank of Korea"></span> </a> </h1>  <nav class="gnb" id="gnb"> <ul> <li class="menu01 "> <a href="/eng/main/contents.do?menuNo=400502" ><span>About</span></a> <div class="depth2"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400502" >History and Mission</a> <div class="depth3"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400502" >History and Mission</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400240" >Former Governors</a> </li> </ul> </div> </li> <li> <a href="/eng/main/contents.do?menuNo=400241" >Organization</a> <div class="depth3"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400241" >Organizational Chart</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400242" >Monetary Policy Board</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400243" >Executive</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400244" >Auditor</a> </li> </ul> </div> </li> <li> <a href="/eng/main/contents.do?menuNo=400080" >Vision, Values and Strategies</a> <div class="depth3"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400080" >Strategies</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400381" >Values</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400364" >Operational Risk Management</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400086" >Bank of Korea CI</a> </li> </ul> </div> </li> <li> <a href="/eng/main/contents.do?menuNo=400259" >Releases & Publications</a> <div class="depth3"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400259" >Releases & Publications</a> </li> <li> <a href="/eng/stats/statsPublictSchdul/listCldr.do?menuNo=400359" >Statistical Calendar</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400235" >Newsletter Service</a> </li> </ul> </div> </li> <li> <a href="/eng/main/contents.do?menuNo=400085" >Contacts</a> <div class="depth3"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400085" >Location</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400246" >Addresses</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400373" >Holiday Schedule</a> </li> </ul> </div> </li> </ul> </div> </li> <li class="menu02 "> <a href="/eng/main/contents.do?menuNo=400012" ><span>Topics</span></a> <div class="depth2"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400012" >Monetary Policy</a> <div class="depth3"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400012" >Objectives & Framework of Monetary Policy</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400499" >Monetary Policy Instruments</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400024" >Monetary Policy Transmission Mechanism</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400018" >Monetary Policy Board</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400020" >Meeting Dates</a> </li> </ul> </div> </li> <li> <a href="/eng/main/contents.do?menuNo=400037" >Financial Stability</a> <div class="depth3"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400037" >Financial Stability</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400098" >Financial System in Korea</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400101" >Participation in FSB & BCBS</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400399" >KOFR</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400044" >Related Sites</a> </li> </ul> </div> </li> <li> <a href="/eng/main/contents.do?menuNo=400112" >Currency</a> <div class="depth3"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400112" >Currency in Circulation</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400116" >Currency Timeline</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400179" >Currency Validity</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400358" >Commemorative Currency</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400171" >Anti-Counterfeiting</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400057" >Currency Reproduction Guidelines</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400058" >Laws on Currency</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400375" >Damaged Currency</a> </li> </ul> </div> </li> <li> <a href="/eng/main/contents.do?menuNo=400046" >Payment and Settlement Systems</a> <div class="depth3"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400046" >Payment and Settlement Systems in Korea</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400412" >Initiatives to Further Improve BOK-Wire+</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400104" >Financial Informatization Promotion in Korea</a> </li> </ul> </div> </li> <li> <a href="/eng/bbs/B0000364/list.do?menuNo=400411" >Central Bank Digital Currency</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400108" >Treasury & Debt Securities</a> <div class="depth3"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400108" >Treasury Service</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400052" >Securities Custody Services for Overseas Official Institutions</a> </li> </ul> </div> </li> <li> <a href="/eng/main/contents.do?menuNo=400184" >Foreign Exchange System</a> <div class="depth3"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400184" >Foreign Exchange Market</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400187" >Legislation and Policy</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400192" >Appendices</a> </li> </ul> </div> </li> <li> <a href="/eng/main/contents.do?menuNo=400414" >International Relations</a> <div class="depth3"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400414" >Central Bank Cooperation</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400201" >International Organizations & Cooperation</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400198" >Currency Swap</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400487" >KPP & CBSP</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400488" >Related Websites</a> </li> </ul> </div> </li> <li> <a href="/eng/submain/submain/engClimateChange.do?menuNo=400505" >Climate Change</a> <div class="depth3"> <ul> <li> <a href="/eng/submain/submain/engClimateChange.do?menuNo=400505" >Addressing Climate Change</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400512" >Climate Change and the Bank of Korea</a> </li> </ul> </div> </li> </ul> </div> </li> <li class="menu03 "> <a href="/eng/singl/newsDataEng/list.do?menuNo=400007" ><span>News & Publications</span></a> <div class="depth2"> <ul> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400417" >News</a> <div class="depth3"> <ul> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400423" >Press Releases</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400022" >Monetary Policy Decisions</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400021" >Minutes</a> </li> </ul> </div> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400077" >Notice</a> <div class="depth3"> <ul> </ul> </div> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400073" >Conference/Seminar</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400074" >Speeches</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400427" >Research</a> <div class="depth3"> <ul> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400409" >BOK Issue Note</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400067" >BOK Working/Discussion Papers</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400218" >Economic Analysis</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400496" >Key Issue & In-Depth Analysis in Korea Economic Outlook</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400068" >Other Papers</a> </li> </ul> </div> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400065" >Periodicals</a> <div class="depth3"> <ul> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400221" >Annual Reports</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400215" >Monetary Policy Report</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400219" >Financial Stability Report</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400223" >Annual Report on the Payment and Settlement Systems</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400413" >Korea Economic Outlook</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400217" >BOK Regional Economic Report (BOK Golden Book)</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400222" >Financial Statement Analysis</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400429" >discountinued</a> </li> </ul> </div> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400066" >Books</a> <div class="depth3"> <ul> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400224" >Monetary Policy in Korea</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400225" >Financial Markets in Korea</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400226" >Financial System in Korea</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400227" >Korean Economy</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400228" >Korea System of National Accounts</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400229" >Payment System in Korea</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400230" >Bank of Korea : Organization & Functions</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400231" >Bank of Korea : A Seventy-Year History</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400519" >Korean Price Statistics Overview</a> </li> </ul> </div> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400431" >Documents</a> <div class="depth3"> <ul> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400432" >Payment and Settlement Systems</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400434" >Foreign Exchange System</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400436" >Bank of Korea Act</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400518" >Climate Change</a> </li> </ul> </div> </li> </ul> </div> </li> <li class="menu04 "> <a href="/eng/singl/multiContEng/list.do?menuNo=400415" ><span>Videos</span></a> <div class="depth2"> <ul> <li> <a href="/eng/singl/multiContEng/list.do?menuNo=400494" >Research/Report</a> </li> <li> <a href="/eng/singl/multiContEng/list.do?menuNo=400495" >Conferece/Seminar</a> </li> </ul> </div> </li> <li class="menu05 "> <a href="/eng/main/contents.do?menuNo=400267" ><span>Museum</span></a> <div class="depth2"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400267" >About Museum</a> <div class="depth3"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400267" >Guide</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400265" >Building</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400264" >History</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400266" >Greeting</a> </li> </ul> </div> </li> <li> <a href="/eng/main/contents.do?menuNo=400490" >Exhibitions</a> <div class="depth3"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400490" >Permanent Exhibitions</a> </li> <li> <a href="/eng/singl/dspyPlanngEng/list.do?menuNo=400386" >Special Exhibition Gallery</a> </li> <li> <a href="/eng/bbs/B0000333/list.do?menuNo=400387" >Exhibition Online-VR</a> </li> <li> <a href="/eng/bbs/B0000337/list.do?menuNo=400388" >Theme Video</a> </li> </ul> </div> </li> <li> <a href="/eng/singl/crrncySearchEng/list.do?nationEngCd=0123&korAt=Y&menuNo=400389" >Collection</a> <div class="depth3"> <ul> <li> <a href="/eng/singl/crrncySearchEng/list.do?nationEngCd=0123&korAt=Y&menuNo=400389" >Collection Database</a> </li> <li> <a href="/eng/bbs/B0000338/list.do?menuNo=400390" >Main Collections</a> </li> </ul> </div> </li> <li> <a href="/eng/main/contents.do?menuNo=400269" >Exhibition at Branches</a> <div class="depth3"> <ul> <li> <a href="/eng/main/contents.do?menuNo=400269" >Busan</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400273" >Chungbuk</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400270" >Daegu & Gyeongbuk</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400278" >Gangneung</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400274" >Gangwon</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400272" >Gwangju & Jeonnam</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400277" >Gyeongnam</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400276" >Jeju</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400271" >Mokpo</a> </li> </ul> </div> </li> </ul> </div> </li> </ul> </nav> <div class="toggle-set">  <div class="m-g-info"> <div class="global"> <ul> <li> <a href="/portal/main/main.do" target="_blank" title="새창열림">KOREAN</a> </li> </ul> </div> </div> <button type="button" class="all-nav-toggle" data-toggle="modal" data-backdrop="static" data-target="#totalMenu" title="전체 메뉴 열기"></button> <button type="button" class="search" title="검색레이어 열기"></button> <div class="search_wrap"> <form name="topSearchFrm" id="topSearchFrm" action="/eng/search/search/main.do"> <input type="hidden" name="menuNo" value="400493" /> <div class="search_wrap_input"> <input type="text" class="search_keyword" name="query" id="queryTop" title="검색어" placeholder="" autocomplete="off" maxlength="50"> <button type="button" class="btn_search search" aria-label="검색" onclick="javascript:top_search();"></button> </div> <button type="button" class="search_close" aria-label="검색 닫기"></button> </form> </div> </div> </div>  <div class="modal fade total-nav" id="totalMenu" tabindex="-1" role="dialog"> <div class="lpop modal-dialog" role="document"> <div class="set modal-content"> <div class="modal-header"> <div class="container"> <button type="button" class="close" data-dismiss="modal"><i class="ti-close"></i><span class="sr-only">레이어 창닫기</span></button> <h1 class="modal-title" id="modal-label1"> <span class="totalnav-logo"></span> </h1> <form onsubmit="return false;"> <fieldset> <legend class="sr-only">Bank of Korea go view Search</legend> <div class="keyword-set"> <span class="keyword"><input type="text" name="searchWrdMenu" id="searchWrdMenu" title="Search"></span> <button type="button" class="search" onclick="searchMenu();" aria-label="Search"></button> </div> </fieldset> </form> </div> </div> <script> $(document).ready(function(){ $("input[name='searchWrdMenu']").keydown(function (key){ if(key.keyCode == 13){ searchMenu(); } }); }); function searchMenu(){ $('span').removeClass('highlight'); $('.dp2 > li').attr('class', 'dropdown'); $('.dp3 > li').attr('class', 'dropdown'); $('.dp4 > li').attr('class', 'dropdown'); var searchWrd = $('#searchWrdMenu').val(); if(searchWrd.trim() != ""){ for(var i = 0; i <= 4; i++){ $($('.dp' + i).children('li').children('a')).each(function(){ if($(this).text().includes(searchWrd)){ $(this).html(function(_, html){ return html.replace(new RegExp('(' + searchWrd + ')', 'g'), '<span><span class="highlight">$1</span></span>'); }); $(this).parents('li').parents('li').attr('class', 'dropdown on'); }; }); }; } }; function top_search(){ if ($("#queryTop").val()==""){ alert("Input type Keyword."); $("#queryTop").focus(); return; } $("#topSearchFrm").submit(); } </script> <div class="modal-body"> <div class="container"> <ul class="dp1"> <li> <a href="/eng/main/contents.do?menuNo=400502" ><span>About</span></a> <a href="javascript:void(0)" class="m-dp1"><span>About</span></a> <ul class="dp2"> <li> <a href="/eng/main/contents.do?menuNo=400502" >History and Mission</a> <ul class="dp3"> <li > <a href="/eng/main/contents.do?menuNo=400502"> <span>History and Mission</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400240" > <span>Former Governors</span> </a> <ul class="dp4"> </ul> </li> </ul> </li> <li> <a href="/eng/main/contents.do?menuNo=400241" >Organization</a> <ul class="dp3"> <li > <a href="/eng/main/contents.do?menuNo=400241"> <span>Organizational Chart</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400242" > <span>Monetary Policy Board</span> </a> <ul class="dp4"> </ul> </li> <li > <a href="/eng/main/contents.do?menuNo=400243" > <span>Executive</span> </a> <ul class="dp4"> </ul> </li> <li > <a href="/eng/main/contents.do?menuNo=400244" > <span>Auditor</span> </a> <ul class="dp4"> </ul> </li> </ul> </li> <li> <a href="/eng/main/contents.do?menuNo=400080" >Vision, Values and Strategies</a> <ul class="dp3"> <li > <a href="/eng/main/contents.do?menuNo=400080"> <span>Strategies</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400381"> <span>Values</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400364"> <span>Operational Risk Management</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400086"> <span>Bank of Korea CI</span> </a> </li> </ul> </li> <li> <a href="/eng/main/contents.do?menuNo=400259" >Releases & Publications</a> <ul class="dp3"> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Releases & Publications</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400259" ><span>List of Releases</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400260" ><span>List of Publications</span></a> </li> </ul> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Statistical Calendar</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/stats/statsPublictSchdul/listCldr.do?menuNo=400359" ><span>Statistical Calendar</span></a> </li> <li> <a href="/eng/stats/statsPublictSchdul/listKnd.do?menuNo=400360" ><span>By Statistics</span></a> </li> <li> <a href="/eng/stats/sddsTrgetStats/listStats.do?menuNo=400361" ><span>IMF's SDDS</span></a> </li> </ul> </li> <li > <a href="/eng/main/contents.do?menuNo=400235"> <span>Newsletter Service</span> </a> </li> </ul> </li> <li> <a href="/eng/main/contents.do?menuNo=400085" >Contacts</a> <ul class="dp3"> <li > <a href="/eng/main/contents.do?menuNo=400085"> <span>Location</span> </a> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Addresses</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400246" ><span>Head Office</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400247" ><span>Branch Offices</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400248" ><span>Audit Department</span></a> </li> </ul> </li> <li > <a href="/eng/main/contents.do?menuNo=400373"> <span>Holiday Schedule</span> </a> </li> </ul> </li> </ul> </li> </ul> <ul class="dp1"> <li> <a href="/eng/main/contents.do?menuNo=400012" ><span>Topics</span></a> <a href="javascript:void(0)" class="m-dp1"><span>Topics</span></a> <ul class="dp2"> <li> <a href="/eng/main/contents.do?menuNo=400012" >Monetary Policy</a> <ul class="dp3"> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Objectives & Framework of Monetary Policy</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400012" ><span>Objectives of Monetary Policy</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400015" ><span>Inflation Targeting</span></a> </li> <li> <a href="/eng/singl/baseRate/progress.do?dataSeCd=01&menuNo=400016" ><span>The Bank of Korea Base Rate</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400017" ><span>Decision-making Process of Monetary Policy</span></a> </li> </ul> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Monetary Policy Instruments</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400499" ><span>Open Market Operations</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400028" ><span>Lending and Deposit Facilities</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400029" ><span>Reserve Requirements</span></a> </li> </ul> </li> <li > <a href="/eng/main/contents.do?menuNo=400024"> <span>Monetary Policy Transmission Mechanism</span> </a> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Monetary Policy Board</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400018" ><span>Monetary Policy Board</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400019" ><span>History of the Monetary Policy Board</span></a> </li> </ul> </li> <li > <a href="/eng/main/contents.do?menuNo=400020"> <span>Meeting Dates</span> </a> </li> </ul> </li> <li> <a href="/eng/main/contents.do?menuNo=400037" >Financial Stability</a> <ul class="dp3"> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Financial Stability</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400037" ><span>Definition and Importance of Financial Stability</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400038" ><span>Why Should the Central Bank Be Charged with Maintaining Financial Stability</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400039" ><span>The BOK´s Role in Ensuring Financial Stability</span></a> </li> </ul> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Financial System in Korea</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400098" ><span>Financial Markets</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400097" ><span>Financial Institutions</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400099" ><span>Financial Infrastructure</span></a> </li> </ul> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Participation in FSB & BCBS</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400101" ><span>Overview</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400102" ><span>Financial Stability Board(FSB)</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400103" ><span>Basel Committee on Banking Supervision(BCBS)</span></a> </li> </ul> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>KOFR</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400399" ><span>Overview</span></a> </li> <li> <a href="/eng/bbs/B0000345/list.do?menuNo=400400" ><span>FAQ</span></a> </li> </ul> </li> <li > <a href="/eng/main/contents.do?menuNo=400044"> <span>Related Sites</span> </a> </li> </ul> </li> <li> <a href="/eng/main/contents.do?menuNo=400112" >Currency</a> <ul class="dp3"> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Currency in Circulation</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400112" ><span>Introduction to Banknotes</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400113" ><span>Introduction to Coins</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400114" ><span>Brief History of Current Korea Notes in Circulation</span></a> </li> </ul> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Currency Timeline</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400116" ><span>1950 ~ 1953</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400117" ><span>1953 ~ 1962</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400118" ><span>1962 ~ 1970</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400119" ><span>1970 ~ 1982</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400120" ><span>1982 ~ 2005</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400121" ><span>2006 ~</span></a> </li> </ul> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Currency Validity</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400179" ><span>Currency in Circulation</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400180" ><span>Withdrawn Banknotes and Coins</span></a> </li> </ul> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Commemorative Currency</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400358" ><span>Commemorative Banknote</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400055" ><span>Commemorative Coins</span></a> </li> </ul> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Anti-Counterfeiting</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400171" ><span>Security Features</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400170" ><span>Counterfeiting Laws</span></a> </li> </ul> </li> <li > <a href="/eng/main/contents.do?menuNo=400057"> <span>Currency Reproduction Guidelines</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400058"> <span>Laws on Currency</span> </a> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Damaged Currency</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400375" ><span>Guidelines for Exchange</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400376" ><span>Limits on Currency Exchange</span></a> </li> </ul> </li> </ul> </li> <li> <a href="/eng/main/contents.do?menuNo=400046" >Payment and Settlement Systems</a> <ul class="dp3"> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Payment and Settlement Systems in Korea</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400046" ><span>Laws and Regulations</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400045" ><span>Payment and Settlement Systems in Korea</span></a> </li> </ul> </li> <li > <a href="/eng/main/contents.do?menuNo=400412"> <span>Initiatives to Further Improve BOK-Wire+</span> </a> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Financial Informatization Promotion in Korea</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400104" ><span>Overview</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400105" ><span>Promotion Organization</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400106" ><span>FIP Achievements</span></a> </li> </ul> </li> </ul> </li> <li> <a href="/eng/bbs/B0000364/list.do?menuNo=400411" >Central Bank Digital Currency</a> </li> <li> <a href="/eng/main/contents.do?menuNo=400108" >Treasury & Debt Securities</a> <ul class="dp3"> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Treasury Service</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400108" ><span>Treasury Service</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400111" ><span>[Appendix] Overview of Treasury Bond</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400110" ><span>Overview of Securities Business</span></a> </li> </ul> </li> <li > <a href="/eng/main/contents.do?menuNo=400052"> <span>Securities Custody Services for Overseas Official Institutions</span> </a> </li> </ul> </li> <li> <a href="/eng/main/contents.do?menuNo=400184" >Foreign Exchange System</a> <ul class="dp3"> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Foreign Exchange Market</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400184" ><span>Structure of the market</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400185" ><span>Instruments in the Market</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400186" ><span>Exchange Rate System</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400193" ><span>The Seoul Code of Conduct</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400365" ><span>Global Code Register</span></a> </li> <li> <a href="https://www.bok.or.kr/eng/singl/newsDataEng/list.do?pageIndex=1&targetDepth=4&menuNo=400374&syncMenuChekKey=1&searchCnd=1&searchKwd=&depth2=400431&depth3=400434&depth4=400374&date=&sdate=&edate=&sort=1&pageUnit=10" ><span>FX Market Stabilization Measure</span></a> </li> </ul> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Legislation and Policy</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400187" ><span>Relevant Legislation</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400188" ><span>Prudential Regulations</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400189" ><span>Administrative Bodies</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400190" ><span>Foreign Exchange Business Institutions</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400191" ><span>Payments and Transactions</span></a> </li> </ul> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Appendices</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400192" ><span>Foreign Portfolio Investment Procedures</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400194" ><span>Anti-Terrorism Measures</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400195" ><span>Internationalization of the Korean Won</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400196" ><span>International Reserves and External Debts</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400197" ><span>The Sovereign Credit Rating of Korea</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400416" ><span>Improvement Measure of FXMarketStructure</span></a> </li> </ul> </li> </ul> </li> <li> <a href="/eng/main/contents.do?menuNo=400414" >International Relations</a> <ul class="dp3"> <li > <a href="/eng/main/contents.do?menuNo=400414"> <span>Central Bank Cooperation</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400201"> <span>International Organizations & Cooperation</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400198"> <span>Currency Swap</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400487"> <span>KPP & CBSP</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400488"> <span>Related Websites</span> </a> </li> </ul> </li> <li> <a href="/eng/submain/submain/engClimateChange.do?menuNo=400505" >Climate Change</a> <ul class="dp3"> <li > <a href="/eng/submain/submain/engClimateChange.do?menuNo=400505"> <span>Addressing Climate Change</span> </a> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Climate Change and the Bank of Korea</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400512" ><span>Climate Change and the Bank of Korea</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400514" ><span>Response Strategy</span></a> </li> </ul> </li> </ul> </li> </ul> </li> </ul> <ul class="dp1"> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400007" ><span>News & Publications</span></a> <a href="javascript:void(0)" class="m-dp1"><span>News & Publications</span></a> <ul class="dp2"> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400417" >News</a> <ul class="dp3"> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400423"> <span>Press Releases</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400022"> <span>Monetary Policy Decisions</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400021"> <span>Minutes</span> </a> </li> </ul> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400077" >Notice</a> <ul class="dp3"> </ul> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400073" >Conference/Seminar</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400074" >Speeches</a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400427" >Research</a> <ul class="dp3"> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400409"> <span>BOK Issue Note</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400067"> <span>BOK Working/Discussion Papers</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400218"> <span>Economic Analysis</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400496"> <span>Key Issue & In-Depth Analysis in Korea Economic Outlook</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400068"> <span>Other Papers</span> </a> </li> </ul> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400065" >Periodicals</a> <ul class="dp3"> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400221"> <span>Annual Reports</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400215"> <span>Monetary Policy Report</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400219"> <span>Financial Stability Report</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400223"> <span>Annual Report on the Payment and Settlement Systems</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400413"> <span>Korea Economic Outlook</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400217"> <span>BOK Regional Economic Report (BOK Golden Book)</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400222"> <span>Financial Statement Analysis</span> </a> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>discountinued</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400214" ><span>Articles in Monthly Bulletin</span></a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400382" ><span>Monthly Statistical Bulletin</span></a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400216" ><span>Quarterly Bulletin</span></a> </li> </ul> </li> </ul> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400066" >Books</a> <ul class="dp3"> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400224"> <span>Monetary Policy in Korea</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400225"> <span>Financial Markets in Korea</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400226"> <span>Financial System in Korea</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400227"> <span>Korean Economy</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400228"> <span>Korea System of National Accounts</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400229"> <span>Payment System in Korea</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400230"> <span>Bank of Korea : Organization & Functions</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400231"> <span>Bank of Korea : A Seventy-Year History</span> </a> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400519"> <span>Korean Price Statistics Overview</span> </a> </li> </ul> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400431" >Documents</a> <ul class="dp3"> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Payment and Settlement Systems</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400048" ><span>Statistics and Publications</span></a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400378" ><span>Securities Custody Services for overseas official</span></a> </li> </ul> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Foreign Exchange System</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400374" ><span>FX Market Stabilization Measure</span></a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400489" ><span>Improvement Measure of FX Market Structure</span></a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400379" ><span>FX Auction</span></a> </li> </ul> </li> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Bank of Korea Act</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400261" ><span>Bank of Korea Act</span></a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400262" ><span>Articles of Incorporation of the BOK</span></a> </li> <li> <a href="/eng/singl/newsDataEng/list.do?menuNo=400263" ><span>The Revision of the Bank of Korea Act</span></a> </li> </ul> </li> <li > <a href="/eng/singl/newsDataEng/list.do?menuNo=400518"> <span>Climate Change</span> </a> </li> </ul> </li> </ul> </li> </ul> <ul class="dp1"> <li> <a href="/eng/singl/multiContEng/list.do?menuNo=400415" ><span>Videos</span></a> <a href="javascript:void(0)" class="m-dp1"><span>Videos</span></a> <ul class="dp2"> <li> <a href="/eng/singl/multiContEng/list.do?menuNo=400494" >Research/Report</a> </li> <li> <a href="/eng/singl/multiContEng/list.do?menuNo=400495" >Conferece/Seminar</a> </li> </ul> </li> </ul> <ul class="dp1"> <li> <a href="/eng/main/contents.do?menuNo=400267" ><span>Museum</span></a> <a href="javascript:void(0)" class="m-dp1"><span>Museum</span></a> <ul class="dp2"> <li> <a href="/eng/main/contents.do?menuNo=400267" >About Museum</a> <ul class="dp3"> <li > <a href="/eng/main/contents.do?menuNo=400267"> <span>Guide</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400265"> <span>Building</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400264"> <span>History</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400266"> <span>Greeting</span> </a> </li> </ul> </li> <li> <a href="/eng/main/contents.do?menuNo=400490" >Exhibitions</a> <ul class="dp3"> <li class='dropdown'> <a href="javascript:void(0)" title='하위메뉴 열기'> <span>Permanent Exhibitions</span> <i class="ico-arrow"></i> </a> <ul class="dp4"> <li> <a href="/eng/main/contents.do?menuNo=400490" ><span>1F</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400491" ><span>MF</span></a> </li> <li> <a href="/eng/main/contents.do?menuNo=400492" ><span>2F</span></a> </li> </ul> </li> <li > <a href="/eng/singl/dspyPlanngEng/list.do?menuNo=400386"> <span>Special Exhibition Gallery</span> </a> </li> <li > <a href="/eng/bbs/B0000333/list.do?menuNo=400387"> <span>Exhibition Online-VR</span> </a> </li> <li > <a href="/eng/bbs/B0000337/list.do?menuNo=400388"> <span>Theme Video</span> </a> </li> </ul> </li> <li> <a href="/eng/singl/crrncySearchEng/list.do?nationEngCd=0123&korAt=Y&menuNo=400389" >Collection</a> <ul class="dp3"> <li > <a href="/eng/singl/crrncySearchEng/list.do?nationEngCd=0123&korAt=Y&menuNo=400389"> <span>Collection Database</span> </a> </li> <li > <a href="/eng/bbs/B0000338/list.do?menuNo=400390"> <span>Main Collections</span> </a> </li> </ul> </li> <li> <a href="/eng/main/contents.do?menuNo=400269" >Exhibition at Branches</a> <ul class="dp3"> <li > <a href="/eng/main/contents.do?menuNo=400269"> <span>Busan</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400273"> <span>Chungbuk</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400270"> <span>Daegu & Gyeongbuk</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400278"> <span>Gangneung</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400274"> <span>Gangwon</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400272"> <span>Gwangju & Jeonnam</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400277"> <span>Gyeongnam</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400276"> <span>Jeju</span> </a> </li> <li > <a href="/eng/main/contents.do?menuNo=400271"> <span>Mokpo</span> </a> </li> </ul> </li> </ul> </li> </ul> </div> </div> </div> </div> </div>  </header>   <main class="main-container" id="content"> <div class="mouseWrap"> <div class="mouse"></div> <p class="mouseTxt">Scroll</p> </div> <div class="section-nav" id="skipContent"> <a data-index="0" href="#wrap" class="active"><i></i><span class="sr-only">홈</span></a> <a data-index="1" href="#section2"><i></i><span class="sr-only">BOK Issue</span></a> <a data-index="2" href="#section3"><i></i><span class="sr-only">Research Papers</span></a> <a data-index="3" href="#section4"><i></i><span class="sr-only">Press Releases</span></a> <a data-index="4" href="#section5"><i></i><span class="sr-only">BOK Update</span></a> </div> <div class="section" id="section1"> <div class="swiper section1-visual"> <div class="swiper-wrapper"> <a href='https://www.bok.or.kr/eng/bbs/E0000627/view.do?nttId=10089953&searchCnd=1&searchKwd=&depth2=400417&depth3=400022&depth=400022&pageUnit=10&pageIndex=1&programType=newsDataEng&menuNo=400022&oldMenuNo=400022' class="swiper-slide" target="_blank" title="새창열림"> <span class="img-visual" style="background-image:url(https://media-cdn.bok.or.kr/24db0ee777d3986bda975b4127858883f103e4f951bdb41415c05b3c35ccc003/c806a4c405852883bec2ea2b321fe03f5e759ac4e38733ddacb71e99249d730a13e27cc0df58d0800d2b142a2917067e/thumbFile.)"></span> <div class="s1-txt-set"> <div class="s1-t1">Monetary Policy Decision (February 25, 2025)</div> <div class="s1-t2">The Monetary Policy Board (MPB) of the Bank of Korea decided to lower the Base Rate by 25 basis points, <br/>from 3.00% to 2.75% for the intermeeting period.</div> </div> </a> <a href='https://www.bok.or.kr/eng/main/contents.do?menuNo=400487' class="swiper-slide" target="_blank" title="새창열림"> <span class="img-visual" style="background-image:url(https://media-cdn.bok.or.kr/fffd639fd8eca54a971fa49352907387daf239b6215df0f1669a5a64353b8c12/fa9f43ffd768e117bfbcb0a0940bc8b19ea243a4a621b28c0f586650e7e61b0813e27cc0df58d0800d2b142a2917067e/thumbFile.)"></span> <div class="s1-txt-set"> <div class="s1-t1">2025 Central Banking Study Program</div> <div class="s1-t2">Strengthening participant capacities and <br/>enhancing communication channels among central banks </div> </div> </a> <div class="section1-visual__ctrl"> <button type=button class="section1-visual__swiper-button-prev"></button> <div> <div class="swiper-pagination pagination_fraction"></div> <div class="autoplay-progress pagination_progress"> <span class="progress first"></span> </div> </div> <button type=button class="section1-visual__swiper-button-next"></button> <button type=button class="section1-visual__swiper-button-stop"> <span class="sr-only">슬라이드 일시정지</span> </button> <button type=button class="section1-visual__swiper-button-play" style="display: none;"> <span class="sr-only">슬라이드 재생</span> </button> </div> </div> <div class="s1-right-set"> <a href="/eng/singl/baseRate/progress.do?dataSeCd=01&menuNo=400016"> <strong>BOK Base Rate</strong> <span class="t"> <span class="ctype2"><em>2.75</em>%</span> </span> </a> <a href="/eng/main/contents.do?menuNo=400015"> <strong>Inflation Target</strong> <span class="t"> <span class="ctype1"><em>2.0</em>%</span> </span> </a> </div> </div> </div> <div class="section" id="section2"> <section> <h2>BOK Issue</h2> <div class="set"> <div class="issue swiper"> <div class="ctrl-set"> <div class="swiper-pagination"></div> <div class="ctrl"> <button type="button" class="prev issue-prev"> <i class="ctrl-prev"></i> <span class="sr-only">이전 BOK 이슈 보기</span> </button>  <button type="button" class="next issue-next"> <i class="ctrl-next"></i> <span class="sr-only">다음 BOK 이슈 보기</span> </button> </div> </div> <div class="swiper-wrapper"> <div class="swiper-slide"> <a href='https://www.bok.or.kr/eng/bbs/E0000628/view.do?nttId=10090289&searchCnd=1&searchKwd=&depth2=400065&depth3=400215&depth=400215&pageUnit=10&pageIndex=1&programType=newsDataEng&menuNo=400215&oldMenuNo=400215'> <span class="img" style="background-image: url(https://media-cdn.bok.or.kr/543abcd2a18e530fcb6814266c374fd2ec196710844aac519ad153e68975f1eb/2358133850d8b2573163fd2ca880e0e1c8ad40ca127b62fb6dc056498a55b0fe54ef47f17be083a72adbfab973dda727/thumbFile.);"></span> <span class="t">Monetary Policy Report</span> <span class="title">Executive Summary for Monetary Policy Report (March 2025)</span> <span class="txt">The Bank of Korea has shifted its monetary policy stance, cutting the Base Rate by 0.75%p in total on three occasions as downward pressure on economic growth has increased amid a stabilization in inflation and a slowing trend in household debt.</span> <span class="date">2025. 03. 13</span> </a> </div> <div class="swiper-slide"> <a href='https://www.bok.or.kr/eng/bbs/E0000634/view.do?nttId=10089960&searchCnd=1&searchKwd=&depth2=400417&depth3=400423&depth=400423&pageUnit=10&pageIndex=1&programType=newsDataEng&menuNo=400423&oldMenuNo=400423'> <span class="img" style="background-image: url(https://media-cdn.bok.or.kr/543abcd2a18e530fcb6814266c374fd2f6c9a1019ae3f0cdde982f8c541bb78b/39eabd66d1aabde87a7cfc9a3b6087f0e54bcfba31bb5b947dca96634ee522f713e27cc0df58d0800d2b142a2917067e/thumbFile.);"></span> <span class="t">Korea Economic Outlook</span> <span class="title">Economic Outlook (February 2025)</span> <span class="txt">Economic growth is expected to slow down to 1.5% this year, falling significantly below the previous outlook, as both exports and domestic demand face increasing downward pressures due to the implementation of U.S. tariff policies and heightened domestic political uncertainties.</span> <span class="date">2025. 02. 25</span> </a> </div> <div class="swiper-slide"> <a href='https://www.bok.or.kr/imerEng/bbs/E0002902/view.do?menuNo=600342&nttId=10089590'> <span class="img" style="background-image: url(https://media-cdn.bok.or.kr/543abcd2a18e530fcb6814266c374fd2f6c9a1019ae3f0cdde982f8c541bb78b/2d5f254a991b968355f1cccc3a51a15ef83f5f8c506ba781ca9b34ec764ca80e54ef47f17be083a72adbfab973dda727/thumbFile.);"></span> <span class="t">BOK Working Paper</span> <span class="title">BOK Working Paper No.2025-3, BOK-LOOK: A Semi-Structural Model for Korea’s Open Economy and Monetary Policy Analysis</span> <span class="txt">This paper introduces BOK-LOOK, a large-scale, semi-structural model developed by the Bank of Korea to support its forecasting and policy analysis. Inspired by the FRB/US model, it is estimated using a fully Bayesian method to ensure robust parameter estimation and empirical consistency. The model employs a VAR-based expectations framework and polynomial adjustment cost specifications to balance theoretical coherence with empirical adaptability. The model features a detailed external sector by the inclusion of a high-resolution foreign blocks and financial synchronization channels that captures the impact of the global business and financial cycle to Korean economy. Consequently, BOK-LOOK is tailored to generate internally consistent projections for key macro variables and supports various scenario analyses. Another distinctive feature is its comprehensive treatment of financial stability concerns through the explicit incorporation of household debt and housing prices dynamics, reflecting Korea's unique economic and financial characteristics. By providing both economic forecast and counterfactual analysis capabilities, the model establishes a coherent framework for understanding macroeconomic dynamics and informing monetary policy decisions.</span> <span class="date">2025. 02. 03</span> </a> </div> <div class="swiper-slide"> <a href='https://www.bok.or.kr/eng/bbs/E0002382/view.do?nttId=10089017&searchCnd=1&searchKwd=&depth2=400074&depth=400074&pageUnit=10&pageIndex=1&programType=newsDataEng&menuNo=400074&oldMenuNo=400074'> <span class="img" style="background-image: url(https://media-cdn.bok.or.kr/543abcd2a18e530fcb6814266c374fd28b96be25ef9698e77ccecbf6d622719a/ce79309c5c0a4cbc7905b092efcdd9c8e517ed3270c6c1cd0f249def3d31bb2a54ef47f17be083a72adbfab973dda727/thumbFile.);"></span> <span class="t">Speeches</span> <span class="title">2025 New Year Speech by Governor Chang Yong Rhee</span> <span class="txt">Ladies and gentlemen, Before delivering my New Year's speech, I would first like to express my deepest condolences and sympathy to the victims and their families affected by the tragic plane crash. Today marks the beginning of our first day of work in 2025. I had hoped to greet you with a message of hope and a bright future, but recent events have put a damper on that. I now stand before you with a very heavy heart due to the recent political upheavals and the tragic incident.</span> <span class="date">2025. 01. 02</span> </a> </div> <div class="swiper-slide"> <a href='https://www.bok.or.kr/eng/bbs/E0000634/view.do?nttId=10088615&searchCnd=1&searchKwd=&depth2=400417&depth3=400423&depth=400423&pageUnit=10&pageIndex=1&programType=newsDataEng&menuNo=400423&oldMenuNo=400423'> <span class="img" style="background-image: url(https://media-cdn.bok.or.kr/e74265afff3cbf85948bc5f1350ccd7beac2118d1805bef4ba16d788749955e4/e980d86227c04560e128603aa14475c1a6b64cb7f5f0edee3abbc4dee76c61ac54ef47f17be083a72adbfab973dda727/thumbFile.);"></span> <span class="t">Press Releases</span> <span class="title">Assessment of Financial and Economic Impacts Following the Declaration of Martial Law and Approach to Response</span> <span class="txt">The Bank of Korea (BOK) convened an irregular Monetary Policy Committee meeting immediately after the declaration of martial law to implement market stabilization measures. Additionally, Emergency Task Force meetings have been held on a daily basis to assess domestic financial and economic conditions.</span> <span class="date">2024. 12. 15</span> </a> </div> <div class="swiper-slide"> <a href='https://www.bok.or.kr/eng/bbs/E0000634/view.do?nttId=10088279&searchCnd=1&searchKwd=&depth2=400417&depth3=400423&depth=400423&pageUnit=10&pageIndex=1&programType=newsDataEng&menuNo=400423&oldMenuNo=400423'> <span class="img" style="background-image: url(https://media-cdn.bok.or.kr/e74265afff3cbf85948bc5f1350ccd7b2292baf785977ea6d3bb58fb7b1c5313/1b060e9fd865099fc58e8df6228b8ced7a3908af8d2ae6a4c1c1b161313854b113e27cc0df58d0800d2b142a2917067e/thumbFile.);"></span> <span class="t">Korea Economic Outlook</span> <span class="title">Economic Outlook (November 2024)</span> <span class="txt">Economic growth is expected to moderate from 2.2% this year to 1.9% next year, with the recovery of domestic demand remaining moderate and growth in exports, which has been strong over the past quarters, gradually slowing down.</span> <span class="date">2024. 11. 28</span> </a> </div> <div class="swiper-slide"> <a href='https://www.bok.or.kr/eng/bbs/E0002548/view.do?nttId=10087513&menuNo=400217&relate=Y&depth=400217&programType=newsDataEng'> <span class="img" style="background-image: url(https://media-cdn.bok.or.kr/e74265afff3cbf85948bc5f1350ccd7bfa58de1c05f36b71b0d302e50d4cba26/786a1005d35528b676f726b864e40cef3e7322b989cae460139306df393b42db54ef47f17be083a72adbfab973dda727/thumbFile.);"></span> <span class="t">BOK Regional Economic Report (BOK Golden Book)</span> <span class="title">Regional Economic Report (September 2024)</span> <span class="txt">Our survey results show that regional economic activity in the third quarter of 2024 slightly improved compared to the previous quarter. Manufacturing production remained flat, with an increase in the semiconductor and display industries, despite a decrease in the motor vehicles and iron & steel industries. Services production increased slightly, with an increase in the real estate and transportation industries despite remaining flat in the wholesale & retail trade and finance & insurance industries.</span> <span class="date">2024. 10. 17</span> </a> </div> </div> </div> </div> </section> </div> <div class="section" id="section3"> <section> <h2>Research Papers</h2> <div class="set"> <div class="ctrl2"> <button type="button" class="prev board-list-prev"> <i class="board-ctrl-prev"></i> <span class="sr-only">이전 최신 보고서 보기</span> </button> <button type="button" class="next board-list-next"> <i class="board-ctrl-next"></i> <span class="sr-only">다음 최신 보고서 보기</span> </button> </div> <div class="board-list1 swiper"> <div class="swiper-wrapper"> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum01.png);"></span> <span class="p">BOK Issue Note</span> </span> <a href="/eng/bbs/B0000354/view.do?nttId=10090724&menuNo=400409&relate=Y&depth=400409&programType=newsDataEng"> <span class="title">Potential Growth of Korea and Its Outlook [BOK Issue Note 2024-33]</span> <span class="txt"> 1. This paper estimates the potential growth of the Korean economy, taking into account the impact of the COVID-19 pandemic, demographic shifts, and s... </span> <span class="date">2025.04.03</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum08.png);"></span> <span class="p">Korea Economic Outlook</span> </span> <a href="/eng/bbs/B0000358/view.do?nttId=10090670&menuNo=400413&relate=Y&depth=400413&programType=newsDataEng"> <span class="title">Korea Economic Outlook (February 2025)</span> <span class="txt"> In order to provide a detailed understanding of Korea's economic outlook, a translation of the Economic Outlook is now published quarterly. </span> <span class="date">2025.04.01</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum03.png);"></span> <span class="p">Quarterly/Economic Analysis</span> </span> <a href="/eng/bbs/E0002726/view.do?nttId=10090629&menuNo=400218&relate=Y&depth=400218&programType=newsDataEng"> <span class="title">[Vol.31 No.1] Analysis of Government Spending Multiplier: A Multivariate VAR Model Approach</span> <span class="txt"> Author: Sehun Kim(Sogang University), Joonyoung Hur(Sogang University) Economic agents base decisions on expectations of future fiscal policy changes... </span> <span class="date">2025.03.31</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum03.png);"></span> <span class="p">Quarterly/Economic Analysis</span> </span> <a href="/eng/bbs/E0002726/view.do?nttId=10090628&menuNo=400218&relate=Y&depth=400218&programType=newsDataEng"> <span class="title">[Vol.31 No.1] The Relationship between Liquidity Return and Exchange Rate Based on the Scapegoat Theory: Evidence from South Korea</span> <span class="txt"> Author: Cheolbeom Park(Korea University) Using data from South Korea, this paper shows that the explanatory power of liquidity returns for the excha... </span> <span class="date">2025.03.31</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum02.png);"></span> <span class="p">BOK Working Paper (in English)</span> </span> <a href="/eng/bbs/E0002902/view.do?nttId=10090528&menuNo=400067&relate=Y&depth=600342&programType=newsDataEng"> <span class="title">BOK Working Paper No.2025-8, Monetary-Fiscal Policy Mix and Inflation in Korea</span> <span class="txt"> Author : Sora Chon(Inha University), Wongi Kim(Sungshin Women's University), Seri Shim(Bank of Korea) This paper investigates the monetary-fisca... </span> <span class="date">2025.03.28</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum01.png);"></span> <span class="p">BOK Issue Note</span> </span> <a href="/eng/bbs/B0000354/view.do?nttId=10090411&menuNo=400409&relate=Y&depth=400409&programType=newsDataEng"> <span class="title">Impact of Climate Change Risk on the Real Economy: Climate Action Scenario Analysis [BOK Issue Note 2024-30]</span> <span class="txt"> ① This paper examines the impact of climate change risk on Korea's real economy. The results show that climate change risk exerts a negative effect on... </span> <span class="date">2025.03.20</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum01.png);"></span> <span class="p">BOK Issue Note</span> </span> <a href="/eng/bbs/B0000354/view.do?nttId=10090349&menuNo=400409&relate=Y&depth=400409&programType=newsDataEng"> <span class="title">Analysis of Regional Economic Growth Factors and Balaced Development Centered on Hub Cities [BOK Issue Note 2024-15]</span> <span class="txt"> As Korea experiences a slowdown in economic growth, the gap between regional growth rates has recently been further widening. In particular, compared ... </span> <span class="date">2025.03.18</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum02.png);"></span> <span class="p">BOK Working Paper (in English)</span> </span> <a href="/eng/bbs/E0002902/view.do?nttId=10090301&menuNo=400067&relate=Y&depth=600342&programType=newsDataEng"> <span class="title">BOK Working Paper No.2025-6, A Properly Ordered Zero Sign Restrictions on VARX for a Small Open Economy</span> <span class="txt"> Author : Ki-Ho Kim(Bank of Korea) Responses to shocks of endogenous variables and those to shocks of exogenous variables are mixed when rotation mat... </span> <span class="date">2025.03.14</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum02.png);"></span> <span class="p">BOK Working Paper (in English)</span> </span> <a href="/eng/bbs/E0002902/view.do?nttId=10090302&menuNo=400067&relate=Y&depth=600342&programType=newsDataEng"> <span class="title">BOK Working Paper No.2025-7, Monetary and central bank information shocks: Tales from alternative identifications</span> <span class="txt"> Author : Bosung Jang(Korea Capital Market Institute), Inhwan So(Bank of Korea) Jarociński and Karadi (2020) proposed a straightforward method to de... </span> <span class="date">2025.03.14</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum05.png);"></span> <span class="p">Monetary Policy Reports</span> </span> <a href="/eng/bbs/E0000628/view.do?nttId=10090289&menuNo=400215&relate=Y&depth=400215&programType=newsDataEng"> <span class="title">Executive Summary for Monetary Policy Report (March 2025)</span> <span class="txt"> Monetary Policy Report at a Glance Monetary Policy Decisions Base Rate Cut from 3.50% to 2.75% The Bank of Korea has shifted its monetary pol... </span> <span class="date">2025.03.13</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum02.png);"></span> <span class="p">BOK Working Paper Paper (in Korean)</span> </span> <a href="/eng/bbs/B0000196/view.do?nttId=10089988&menuNo=400067&relate=Y&depth=600341&programType=newsDataEng"> <span class="title">BOK Working Paper No.2025-5, The Impact of Inflation Experience on Housing Demand</span> <span class="txt"> Author : Youngjun Choi(Bank of Korea) </span> <span class="date">2025.03.04</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum11.png);"></span> <span class="p">Financial Stability Report</span> </span> <a href="/eng/bbs/E0000737/view.do?nttId=10090065&menuNo=400219&relate=Y&depth=400219&programType=newsDataEng"> <span class="title">Financial Stability Report (December 2024)</span> <span class="txt"> - Please refer to the attached PDF file. - This is a translation prepared by the Bank's staff   based on the original Korean text released on Dec... </span> <span class="date">2025.02.28</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum02.png);"></span> <span class="p">BOK Working Paper Paper (in Korean)</span> </span> <a href="/eng/bbs/B0000196/view.do?nttId=10089985&menuNo=400067&relate=Y&depth=600341&programType=newsDataEng"> <span class="title">BOK Working Paper No.2025-4, The Effect of Climate Change on the Korean Labor Market</span> <span class="txt"> Author : Myungkyu Shim(Yonsei University), Soojin Jo(Yonsei University) </span> <span class="date">2025.02.26</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum02.png);"></span> <span class="p">BOK Working Paper (in English)</span> </span> <a href="/eng/bbs/E0002902/view.do?nttId=10089590&menuNo=400067&relate=Y&depth=600342&programType=newsDataEng"> <span class="title">BOK Working Paper No.2025-3, BOK-LOOK: A Semi-Structural Model for Korea’s Open Economy and Monetary Policy Analysis</span> <span class="txt"> Author : Seungryul Jeong(Bank of Korea), Seokil Kang(Bank of Korea), Hyungbae Cho(Bank of Korea), Jinwoon Yoon(Bank of Korea), Dongjae Lee(Bank of Kor... </span> <span class="date">2025.02.03</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum02.png);"></span> <span class="p">BOK Working Paper (in English)</span> </span> <a href="/eng/bbs/E0002902/view.do?nttId=10089363&menuNo=400067&relate=Y&depth=600342&programType=newsDataEng"> <span class="title">BOK Working Paper No.2025-2, The Impact of Global Supply Chain Shocks on Production Costs</span> <span class="txt"> Author : Bongseok Choi(Kookmin University), Hyun Hak Kim(Kookmin University), Sangho Shin(Bank of Korea) This study examines the impact of global s... </span> <span class="date">2025.01.22</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum02.png);"></span> <span class="p">BOK Working Paper Paper (in Korean)</span> </span> <a href="/eng/bbs/B0000196/view.do?nttId=10089361&menuNo=400067&relate=Y&depth=600341&programType=newsDataEng"> <span class="title">BOK Working Paper No.2025-1, An Empirical Approach to the Causes of Low Fertility Rate in North Korea</span> <span class="txt"> Author : Jooyung Lee(Bank of Korea), Kiho Kim(Bank of Korea) This paper estimated the total fertility rate by surveying the marriage and childbirth ... </span> <span class="date">2025.01.21</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum08.png);"></span> <span class="p">Korea Economic Outlook</span> </span> <a href="/eng/bbs/B0000358/view.do?nttId=10089337&menuNo=400413&relate=Y&depth=400413&programType=newsDataEng"> <span class="title">The Path to a Carbon Neutral Economy: Current Status and Challenges of Korea's Climate Technologies (Korea Economic Outlook (November 2024) In-depth Analysis)</span> <span class="txt"> This is a translation of the Economic Outlook (November 2024) In-depth Analysis,  "The Path to a Carbon Neutral Economy: Current S... </span> <span class="date">2025.01.20</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum01.png);"></span> <span class="p">BOK Issue Note</span> </span> <a href="/eng/bbs/B0000354/view.do?nttId=10089333&menuNo=400409&relate=Y&depth=400409&programType=newsDataEng"> <span class="title">Strategies for Introducing Green CLOs to Enhance Green Financing [BOK Issue Note 2024-21]</span> <span class="txt"> ① Although pressure is increasing for small and medium-sized enterprises (SMEs), especially exporting companies, to reform their production structures... </span> <span class="date">2025.01.20</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum01.png);"></span> <span class="p">BOK Issue Note</span> </span> <a href="/eng/bbs/B0000354/view.do?nttId=10089222&menuNo=400409&relate=Y&depth=400409&programType=newsDataEng"> <span class="title">Recent Trends in Domestic Banks’ Management of Financed Emissions and Policy Implications [BOK Issue Note 2024-20]</span> <span class="txt">   In recognition of the key role of financial institutions in allocating funds for low-carbon transition, global banks have increasingly led effo... </span> <span class="date">2025.01.13</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> <div class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url(https://static-cdn.bok.or.kr/static/eng/img/main/img_report_thum08.png);"></span> <span class="p">Korea Economic Outlook</span> </span> <a href="/eng/bbs/B0000358/view.do?nttId=10089221&menuNo=400413&relate=Y&depth=400413&programType=newsDataEng"> <span class="title">Three Key Factors Shaping Korea's Recent Exports (Korea Economic Outlook (November 2024) Key Issues)</span> <span class="txt"> This is a translation of the Economic Outlook (November 2024) Key Issues, "Three Key Factors Shaping Korea's Recent Exports" </span> <span class="date">2025.01.13</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> </div> </div> </div> </section> </div> <div class="section" id="section4"> <section> <h2>Press Releases</h2> <div class="set "> <div class="ctrl2"> <button type="button" class="prev board-list-prev"> <i class="board-ctrl-prev"></i> <span class="sr-only">prev</span> </button> <button type="button" class="next board-list-next"> <i class="board-ctrl-next"></i> <span class="sr-only">next</span> </button> </div> <div class="board-list2 swiper"> <div class="swiper-wrapper"> <a href="/eng/bbs/E0000634/view.do?nttId=10090700&menuNo=400423&relate=Y&depth=400423&programType=newsDataEng" class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url('https://static-cdn.bok.or.kr/static/eng/img/main/img_board01.jpg');"></span> </span> <span class="title">Official Foreign Reserves(March 2025)</span> <span class="txt"> Please refer to attached files. </span> <span class="date">2025.04.03</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> <a href="/eng/bbs/E0000634/view.do?nttId=10090573&menuNo=400423&relate=Y&depth=400423&programType=newsDataEng" class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url('https://static-cdn.bok.or.kr/static/eng/img/main/img_board02.jpg');"></span> </span> <span class="title">Interest Rates (Feb 2025)</span> <span class="txt"> □ In February 2025, the average interest rate on new deposits was 2.97%, down 10 basis points from the previous month.   ― The average... </span> <span class="date">2025.03.28</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> <a href="/eng/bbs/E0000634/view.do?nttId=10090479&menuNo=400423&relate=Y&depth=400423&programType=newsDataEng" class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url('https://static-cdn.bok.or.kr/static/eng/img/main/img_board03.jpg');"></span> </span> <span class="title">Business Survey and Economic Sentiment Index (ESI) for Mar 2025</span> <span class="txt"> ※ Refer to the attached file for details </span> <span class="date">2025.03.26</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> <a href="/eng/bbs/E0000634/view.do?nttId=10090446&menuNo=400423&relate=Y&depth=400423&programType=newsDataEng" class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url('https://static-cdn.bok.or.kr/static/eng/img/main/img_board04.jpg');"></span> </span> <span class="title">Consumer Survey for March 2025</span> <span class="txt"> The Composite Consumer Sentiment Index (CCSI) for March 2025 stood at 93.4, 1.8 points lower than in February ... </span> <span class="date">2025.03.25</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> <a href="/eng/bbs/E0000634/view.do?nttId=10090408&menuNo=400423&relate=Y&depth=400423&programType=newsDataEng" class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url('https://static-cdn.bok.or.kr/static/eng/img/main/img_board05.jpg');"></span> </span> <span class="title">Producer Price Index - February 2025(preliminary)</span> <span class="txt"> □ The Producer Price Index increased by 0.0% month-on-month in February 2025 ―in year-on-year terms it increased by 1.5%. □ The month-on-month chang... </span> <span class="date">2025.03.21</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> <a href="/eng/bbs/E0000634/view.do?nttId=10090357&menuNo=400423&relate=Y&depth=400423&programType=newsDataEng" class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url('https://static-cdn.bok.or.kr/static/eng/img/main/img_board06.jpg');"></span> </span> <span class="title">BOK Launches Intellectual Services Trade Statistics</span> <span class="txt"> □ The Bank of Korea, in collaboration with the government, has successfully completed the Services Trade Statistics Enhancement Project, launched in J... </span> <span class="date">2025.03.19</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> <a href="/eng/bbs/E0000634/view.do?nttId=10090312&menuNo=400423&relate=Y&depth=400423&programType=newsDataEng" class="swiper-slide"> <span class="img-set"> <span class="img" style="background-image: url('https://static-cdn.bok.or.kr/static/eng/img/main/img_board07.jpg');"></span> </span> <span class="title">Monetary and Liquidity Aggregates (January 2025)</span> <span class="txt"> □ Broad Money (M2, seasonally adjusted, period-average) increased by 0.5% </span> <span class="date">2025.03.17</span> <div class="bottom"> <span class="i-view"> <span class="sr-only">view</span> </span> </div> </a> </div> </div> </div> </section> </div> <div class="section" id="section5"> <section> <h2>BOK Update</h2> <div class="set"> <div> <h3>Notice</h3> <div class="notice"> <ul> <li> <a href="/eng/bbs/B0000349/view.do?nttId=10090659&menuNo=400403&relate=Y&depth=400403&programType=newsDataEng"> <span class="title">MSB Issuance Notice(00000-2704-0200)</span> <span class="date">2025.04.01</span> </a> </li> <li> <a href="/eng/bbs/B0000349/view.do?nttId=10090603&menuNo=400403&relate=Y&depth=400403&programType=newsDataEng"> <span class="title">MSB Issuance Notice(DC025-0701-0910)</span> <span class="date">2025.03.28</span> </a> </li> <li> <a href="/eng/bbs/B0000349/view.do?nttId=10090577&menuNo=400403&relate=Y&depth=400403&programType=newsDataEng"> <span class="title">Monetary Stabilization Bond Issuance Plan, April 2025</span> <span class="date">2025.03.27</span> </a> </li> <li> <a href="/eng/bbs/B0000349/view.do?nttId=10090500&menuNo=400403&relate=Y&depth=400403&programType=newsDataEng"> <span class="title">Regular MSB Fixed Rate Tender Issuance Announcement</span> <span class="date">2025.03.25</span> </a> </li> <li> <a href="/eng/bbs/B0000349/view.do?nttId=10090426&menuNo=400403&relate=Y&depth=400403&programType=newsDataEng"> <span class="title">MSB Issuance Notice(DC025-0624-0910)</span> <span class="date">2025.03.21</span> </a> </li> </ul> <p class="more"> <a href="/eng/singl/newsDataEng/list.do?menuNo=400077"> <span class="sr-only">공지사항 더보기</span> </a> </p> </div> </div> <div class="popup-set"> <h3>Videos</h3> <div class="ctrl"> <button type="button" class="prev popup-prev"> <i class="ctrl-prev"></i> <span class="sr-only">이전 알림판 보기</span> </button> <span class="swiper-pagination"></span> <button type="button" class="next popup-next"> <i class="ctrl-next"></i> <span class="sr-only">다음 알림판 보기</span> </button> <button type="button" class="stop popup-stop"> <i class="ctrl-stop"></i> <span class="sr-only">알림판 일시정지</span> </button> <button type="button" class="play popup-play" style="display:none"> <i class="ctrl-play"></i> <span class="sr-only">알림판 재생</span> </button> </div> <div class="popup swiper"> <div class="swiper-wrapper"> <a href='https://www.youtube.com/watch?v=CDq9V_velGI&t=209s' target="_blank" class="swiper-slide"> <span class="img" style="background-image: url(https://media-cdn.bok.or.kr/dbc85cfb66aca931c30c3cfb03b4c685f4eb1effa1680a0a921af0b6f4e0c18a/49792fbda0c2669f86ed682aa8d507c6152deb393a18639f2d2f2bba2b15f2af54ef47f17be083a72adbfab973dda727/geef2025_영문썸네일3.png);"> <span class="sr-only">Keynote Speech by Governor Chang Yong Rhee at the Global Engagement & Empowerment Forum 2025</span> </span> </a> <a href='https://www.youtube.com/watch?v=5YSmbWDIM64' target="_blank" class="swiper-slide"> <span class="img" style="background-image: url(https://media-cdn.bok.or.kr/dbc85cfb66aca931c30c3cfb03b4c685f4eb1effa1680a0a921af0b6f4e0c18a/42893122fb4e03063770b083115b480e36ca4e1ced781d13cfcd7094b09f253054ef47f17be083a72adbfab973dda727/Monetary-Policy-Report_eng_20250313.png);"> <span class="sr-only">Monetary Policy Report (March 2025)</span> </span> </a> <a href='https://www.bok.or.kr/eng/bbs/B0000359/view.do?nttId=10086239&searchCnd=1&searchKwd=&depth2=400494&pageUnit=12&depth=400494&pageIndex=1&menuNo=400494&oldMenuNo=400494' target="_blank" class="swiper-slide"> <span class="img" style="background-image: url(https://media-cdn.bok.or.kr/1ab32e98b754a89cee9e4da13c54acecd39d0985c9a5aa19f04b7675e7107d48/39a9cf42014c8487f8c44acdcd304aa8e6b8067badf903f5eaf9dc3b449f712454ef47f17be083a72adbfab973dda727/notice_eng_20240819.png);"> <span class="sr-only">Korea ranks 2nd globally in R&D, so why is productivity growth stagnant?</span> </span> </a> <a href='https://www.bok.or.kr/eng/bbs/B0000359/view.do?nttId=10087429&searchCnd=1&searchKwd=&pageUnit=12&depth=400415&pageIndex=1&menuNo=400494&oldMenuNo=400415' target="_blank" class="swiper-slide"> <span class="img" style="background-image: url(https://media-cdn.bok.or.kr/1ab32e98b754a89cee9e4da13c54acec9a0f5e3c425c1fd930dc4b4764e1b90e/310edcbe9c1ab8be37a463750e34da022a4c025a1797283607f8c9524ef2b31054ef47f17be083a72adbfab973dda727/notice_eng_20241014.png);"> <span class="sr-only">Evolution of Finance for the Planet: Domestic Banks' Project to Reduce the Carbon Footprint</span> </span> </a> <a href='https://www.bok.or.kr/eng/bbs/B0000359/view.do?nttId=10085621&searchCnd=1&searchKwd=&pageUnit=12&depth=400415&pageIndex=1&menuNo=400494&oldMenuNo=400415' target="_blank" class="swiper-slide"> <span class="img" style="background-image: url(https://media-cdn.bok.or.kr/1ab32e98b754a89cee9e4da13c54acec9c54b8c1e6f94a3f54891a66eafcbc82/0eec5ae669d5849f5f5f865d7b5f3e7c80a22bb490892fba19f1f30e5ee9bbc513e27cc0df58d0800d2b142a2917067e/notice_eng_20240709.jpg);"> <span class="sr-only">The growing importance of social skills in the labor market</span> </span> </a> <a href='https://www.bok.or.kr/eng/bbs/B0000359/view.do?nttId=10085164&searchCnd=1&searchKwd=&depth2=400494&pageUnit=12&depth=400494&pageIndex=1&menuNo=400494&oldMenuNo=400494' target="_blank" class="swiper-slide"> <span class="img" style="background-image: url(https://media-cdn.bok.or.kr/1ab32e98b754a89cee9e4da13c54acec2caf674659e5bc8ad311adf8d8c2512c/7d33ae5c8b92adf1b90874afbc133faa799b38d0fffcf6faf3d00db8b1fb03f613e27cc0df58d0800d2b142a2917067e/notice_eng_20240628_1.jpg);"> <span class="sr-only">Preferences for Job amenity and labor market changes</span> </span> </a> <a href='https://www.bok.or.kr/eng/bbs/B0000359/view.do?nttId=10085163&searchCnd=1&searchKwd=&depth2=400494&pageUnit=12&depth=400494&pageIndex=1&menuNo=400494&oldMenuNo=400494' target="_blank" class="swiper-slide"> <span class="img" style="background-image: url(https://media-cdn.bok.or.kr/1ab32e98b754a89cee9e4da13c54acec2caf674659e5bc8ad311adf8d8c2512c/ece4ca15b391711730e80609d62cb6d0b66c199effdc7efa3f64b7e2c894738413e27cc0df58d0800d2b142a2917067e/notice_eng_20240628_2.jpg);"> <span class="sr-only">Why do interest rates follow US Treasury yields in Korea?</span> </span> </a> </div> </div> </div> </div> </section> </div>  <div class="my_memo"> <button type="button" class="btn" title="내가 본 콘텐츠 열기"> <span class="sr-only">내가 본 콘텐츠</span> </button> <div class="swiper"> <div class="top"> <h2>내가 본 콘텐츠</h2> <button type="button" class="close" title="내가 본 콘텐츠 닫기"></button> </div> <div class="swiper_body"> <div id="myView" class="swiper-wrapper"> </div> </div> <div class="ctrl"> <button type="button" class="prev memo-prev"> <i class="ctrl-prev"></i> <span class="sr-only">prev</span> </button> <div class="swiper-pagination"></div> <button type="button" class="next memo-next"> <i class="ctrl-next"></i> <span class="sr-only">next</span> </button> </div> <button type="button" class="b-close close" title="close"></button> </div> </div>   <div class="goTop"> <a href="javascript:void(0);"> <span class="sr-only">Top</span> </a> </div> </main>  <footer id="footer"> <div class="container"> <div class="f_l"> <p class="contact">Contact us : <u><a href="/eng/main/contents.do?menuNo=400246">Bank of Korea Address, Head Office & Branches</a></u></p> <div class="footer-bottom"> <p class="copyright"> <em><u><a href="mailto:webmaster@bok.or.kr" target="_blank" title="Mail to webmaster (New window)">WEBMASTER@BOK.OR.KR</a></u> / Opinion for BOK Website</em> Copyright(c) Bank of Korea. All rights reserved. </p> </div> </div> <div class="f_r"> <div class="site_go"> <button type="button" title="Family site 열기">Family site</button> <ul> <li> <a href="/imerEng/main/main.do" target="_blank" title="새창열림">Economic Research Institute</a> </li> </ul> </div> <div class="f_sns"> <a href="https://www.youtube.com/thebankofkoreakr" target="_blank" title="새창열림" class="sns-youtube"> <i class="ico-youtube"></i> <span class="sr-only">한국은행 Youtube 바로가기 (https://www.youtube.com/thebankofkoreakr)</span> </a> <a href="https://www.facebook.com/bankofkoreahub" target="_blank" title="새창열림" class="sns-facebook"> <i class="ico-facebook"></i> <span class="sr-only">한국은행 Facebook 바로가기 (https://www.facebook.com/bankofkoreahub)</span> </a> <a href="https://www.instagram.com/thebankofkorea" target="_blank" title="새창열림" class="sns-instagram"> <i class="ico-insta"></i> <span class="sr-only">한국은행 인스타그램 바로가기 (https://www.instagram.com/thebankofkorea)</span> </a> <a href="https://www.twitter.com/bok_hub" target="_blank" title="새창열림" class="sns-twitter"> <i class="ico-x"></i> <span class="sr-only">한국은행 Twitter 바로가기 (https://www.twitter.com/bok_hub)</span> </a> </div> </div> </div> <script> $.ajax({ url: "/eng/singl/siteConectStats/rcord.do?menuNo=&conectUrlad=" + encodeURIComponent('/eng/main/main.do'), type: 'get', async :true, success: function (data) {} }) </script> </footer>   <script> $(document).ready(function () { $('.search_keyword').typeahead({ hint: false, // 나머지 글자가 자동으로 보여지는지 highlight: true,// 일치하는 문자 하이라이팅 minLength: 1 // 검색 시작하는 최소 문자 길이 , items :15 , limit :10 //,maxLength : 8 //,autoselect : true }, { limit :10, // 자동완성 목록에 보여질 개수 name: 'tags', source: function (query, syncResults, asyncResults) { return $.ajax({ url: "/eng/ncloud/search/v1/domain/w3p-search2-eng/document/search/autocomplete?type=section&item_count=10&query="+query, //url: "/eng/ncloud/search/v1/domain/w3p-search2-eng/document/search/autocomplete?type=term&item_count=15&query="+query, type: 'get', success: function (data) { //console.log(data) let item = data.responseData.result.items; return asyncResults(item); //asyncResults 에 배열을 넘기면 된다. } }) } } ); $("#topSearchFrm > div > button").click(function () { $("#topSearchFrm").submit(); }) }); </script>  </div> <script src="https://static-cdn.bok.or.kr/static/jslibrary/swiper@8/swiper-bundle.min.js"></script> <script src="https://static-cdn.bok.or.kr/static/eng/js/common.js"></script> <script src="https://static-cdn.bok.or.kr/static/eng/js/main.js"></script> <script src="https://static-cdn.bok.or.kr/static/eng/js/mainsection.js"></script> <script src="https://static-cdn.bok.or.kr/static/eng/js/unpl-util.js"></script> <script> window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('js', new Date()); gtag('config', 'UA-118968533-1'); function getPblictnList(target) { $.post( "/eng/main/pblictnList.do", {viewType:"CONTBODY",target:target}, function(data) { $(".pblictnList").html(data); $(".reportList ul li a").tooltip(); },"html"); } $(".rows4 .sec4-1 ul > li a").tooltip(); </script> </body> </html>

CINXE.COM

Bank of Korea