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Bank of Korea (BOK)

Bank of Korea (BOK)
The Bank of Korea (BOK) is South Korea’s central bank, headquartered in Seoul. Established in 1950, its primary mission is to pursue price stability and ensure financial stability for the national economy. The BOK issues banknotes and coins, formulates monetary policy, manages foreign exchange reserves, and oversees payment systems. It also acts as the government’s and bankers’ bank, conducting supervisory functions for financial institutions. Notably, the BOK was the first developed-economy central bank in Asia to raise interest rates post-Covid-19, demonstrating its proactive role in economic management.
South Korea

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