BOK Working Paper BOK Working Paper No.2025-3, BOK-LOOK: A Semi-Structural Model for Korea’s Open Economy and Monetary Policy Analysis 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 ...

The Bank of Korea was established on June 12, 1950, following the passage of the Bank of Korea Act on May 5 of that year, to serve as the central bank of Korea with the purposes of stabilizing the value of the national currency, promoting the soundness of the banking and credit systems, and developing the Korean economy.

Special banks are financial institutions established under a special act rather than the Banking Act, and their main enterprises are banking businesses. Specialized banks include the Korea Development Bank, the Export-Import Bank of Korea, the Industrial Bank of Korea, Nonghyup Bank, Suhyup Bank, and others. Non-bank Depository Institutions

1. This is an unofficial translation prepared by the Bank's staff based on the original Korean text released on March 29, 2024.

The Bank of Korea’s leadership consists of the following: the Monetary Policy Board, which deliberates and decides on matters related to monetary policy and the operations of the Bank; the executive body, comprising the Governor, the Senior Deputy Governor, the Deputy Governors, the head office divisions, domestic branches, etc.; and the Auditor, whose role is to regularly …

Nov 28, 2024 · The Monetary Policy Board of the Bank of Korea decided today to lower the Base Rate by 25 basis points, from 3.25% to 3.00%. Although volatility of the exchange rate has increased, inflation stabilization has continued along with an ongoing slowdown in household debt, and downward pressure on economic growth has intensified.

Payment System in Korea; Bank of Korea : Organization & Functions; Bank of Korea : A Seventy-Year History; Korean Price Statistics Overview; Documents. Payment and Settlement Systems. Statistics and Publications; Securities Custody Services for overseas official; Foreign Exchange System. FX Market Stabilization Measure; Improvement Measure of ...

Payment System in Korea; Bank of Korea : Organization & Functions; Bank of Korea : A Seventy-Year History; Korean Price Statistics Overview; Documents. Payment and Settlement Systems. Statistics and Publications; Securities Custody Services for overseas official; Foreign Exchange System. FX Market Stabilization Measure; Improvement Measure of ...

Monetary Policy in Korea; Financial Markets in Korea; Financial System in Korea; Korean Economy; Korea System of National Accounts; Payment System in Korea; Bank of Korea : Organization & Functions; Bank of Korea : A Seventy-Year History; Korean Price Statistics Overview; Documents. Payment and Settlement Systems. Statistics and Publications ...

Dec 25, 2024 · The Bank of Korea (the “Bank”) will flexibly adjust the pace of Base Rate cuts in line with changes in economic conditions to ensure that inflation remains stable and downward pressures on growth are mitigated, while also paying attention to financial stability risks.