Bank Of Korea News - Latest Updates & Headlines
BOK warns against market volatility amid uncertainty, rising household debts
Seoul, March 27: The South Korean central bank warned on 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.
BOK to conduct real transaction test of digital currency next month
Seoul, March 24: South Korea's central bank said on Monday it will conduct a test of using digital tokens converted from bank deposits for payments at both online and offline malls as part of its comprehensive test to introduce a wholesale central bank digital currency (CBDC).
Electronic payments in Korea hit new high in 2024
Seoul, March 22: The amount of payments made electronically in the Republic of Korea reached a record high last year, central bank data showed Thursday, as a growing number of people engaged in contact-free commerce.
South Korea: Producer prices up for 4th month amid oil price hikes
Seoul, March 21: South Korea's producer prices rose slightly from a month earlier in February on a recent hike in global oil prices, central bank data showed on Friday.
OECD sharply cuts South Korea's 2025 growth outlook to 1.5 pc
Seoul, March 17: The Organisation for Economic Cooperation and Development (OECD) has sharply lowered its growth forecast for the South Korean economy this year to 1.5 per cent, the finance ministry said on Monday.
Money supply inches up in Jan amid market volatility: BOK
Seoul, March 17: South Korea's money supply rose for the 20th consecutive month in January, led by an increase in short-term funds amid high market volatility and lower deposit interest rates, central bank data showed on Monday.
BOK rules out inclusion of bitcoin in foreign exchange reserves
Seoul, March 16: The South Korean central bank has called for a "cautious approach" to the idea of including bitcoin as foreign exchange reserves given its price volatility, officials said on Sunday.
S. Korea may log negative growth from 2050 if low birth rate continues: BOK chief
Seoul, March 14: The chief of the South Korean central bank on Friday warned that the current level of ultra-low birth rate will cause South Korea to log negative economic growth after 2050, calling for measures to ease intense competition and burdens regarding employment, housing and childcare.
S. Korea's import prices fall for first time in 5 months in February: BOK
Seoul, March 14: South Korea's import prices fell for the first time in five months in February due mainly to falling global oil prices, central bank data showed on Friday.
S. Korea warns of household debt growth, calls for additional regulations
Seoul, March 13: Recent deregulatory moves in the property market and easing of banks' lending rules could stoke household debts, making it necessary for authorities to consider additional measures to ensure financial stability, the central bank said on Thursday.
Trump tariffs to drag down S. Korean economic growth, inflation: BOK
Seoul, March 13: US President Donald Trump's sweeping tariff scheme is expected to increase downside pressure on South Korea's economic growth and inflation, though its impact on the local financial market would be limited, the central bank said on Thursday.
S. Korean economy faces 'increasing' downside risks amid construction slump, trade tariffs
Seoul, March 10: South Korea's economy is facing "increasing" downside risks due to a prolonged slump in the construction sector and worsening export conditions amid concerns over a global trade war, a state-run economic think tank said on Monday.
Consumer inflation in S. Korea projected to hover around 2 pc
Seoul, March 7: South Korea's inflation is expected to continue hovering around 2 per cent for a while, the finance ministry here said on Friday, reaffirming efforts to keep consumer prices at a stable level.
BOK warns of high uncertainty regarding inflationary pressure
Seoul, March 6: Uncertainties remain high regarding prices, given geopolitical issues and trade conflicts among major nations, the central bank here said on Thursday.
South Korean economy grows 2 pc in 2024, per capita income rises 1.2 pc
Seoul, March 5: South Korea's economy grew 2 percent last year, matching an earlier estimate, amid slowing export growth, sagging domestic demand and a political crisis, central bank data showed on Wednesday.
Seoul shares sharply down over escalating US tariff woes
Seoul, Feb 28: South Korean stocks traded sharply lower on Friday as investor sentiment was dampened by looming tariff impositions by the United States and a slump in artificial intelligence (AI) chip giant Nvidia.
South Korea's net overseas financial assets surpass $1 trillion for 1st time
Seoul, Feb 27: South Korea's net overseas financial assets hit a record high to surpass $1 trillion for the first time ever last year, central bank data showed on Thursday.
BOK cuts key rate by 25 basis points amid bleaker growth outlook
Seoul, Feb 25: South Korea's central bank slashed its benchmark interest rate by a quarter percentage point on Tuesday in an effort to shore up economic growth amid weak domestic demand and uncertainties at home and abroad.
Foreign currency deposits rise for 2nd month in South Korea amid uncertainty
Seoul, Feb 24: Foreign currency deposits rose for a second consecutive month in January as companies secured more dollar holdings amid heightened uncertainties, the central bank here said on Monday.
BOK expected to cut 2025 growth outlook to 1.6 pc this week
Seoul, Feb 23: The South Korean central bank is widely expected to significantly lower its growth forecast for Asia's fourth-largest economy to 1.6 percent due to slower-than-anticipated recovery in domestic demand and sluggish export growth, experts said on Sunday.
Bank of Korea expected to cut interest rate next week
Seoul, Feb 21: The South Korean central bank is widely expected to lower its policy rate by 0.25 percentage point next week in an effort to prop up the economy, a poll showed on Friday.
Foreigners maintain net selling mode in South Korean stock, bond markets in Jan
Seoul, Feb 14: Foreign investors remained net sellers of South Korean stocks and bonds for the fifth month in a row in January amid concerns about weak economic growth momentum and uncertainties stemming from U.S. President Donald Trump's new tariff policies, the central bank said on Friday.
Household borrowing falls further in January amid regulations in South Korea
Seoul, Feb 12: Household loans extended by South Korean banks fell for the second consecutive month in January on tightening loan regulations and a slowing real estate market, data showed on Wednesday.
South Korea's current account surplus more than triples in 2024: BOK
Seoul, Feb 6: South Korea's current account surplus for 2024 more than tripled from a year earlier, led by strong exports and increased dividend income, central bank data showed on Thursday.
South Korea's foreign reserves hit 5-year low in January amid weak won
Seoul, Feb 5: South Korea's foreign reserves fell from a month earlier to reach the lowest level in nearly five years amid the weak local currency, central bank data showed on Wednesday.
Economists forecast South Korea's economy to post weaker-than-expected growth in 2025
Seoul, Feb 2: South Korean economists anticipate the country's economy to grow at a slower pace than the government's forecast this year, a survey showed on Sunday.
South Korea's per capita GDP exceeds $36,000 in 2024
Seoul, Feb 2: South Korea's gross domestic product (GDP) per person is estimated to have exceeded the $36,000 mark last year, data showed on Sunday.
BOK warns of growing US stock market volatility, policy uncertainty
Seoul, Jan 31: The South Korean central bank said on Friday that volatility has grown in the U.S. stock market led by IT shares, calling for close monitoring of its potential impact on the local market.
Acting South Korean president orders extra vigilance on US policy uncertainty
Seoul, Jan 30: Acting President Choi Sang-mok called for staying vigilant and maintaining the enhanced market monitoring on Thursday amid growing uncertainties stemming from monetary and external economic policies by the Donald Trump administration.
BOK floats more fresh bills ahead of extended Lunar New Year holiday
Seoul, Jan 24: The Bank of Korea (BOK) said on Friday it has issued a greater value of fresh banknotes for this year's Lunar New Year holiday than a year earlier.
South Korean economy logs weaker-than-expected growth in 2024
Seoul, Jan 23: The South Korean economy posted weaker-than-expected growth last year amid slowing export growth, sagging domestic demand and a political crisis, central bank data showed on Thursday.
South Korea's 2025 growth outlook to be slashed to 1.6-1.7 pc
Seoul, Jan 20: The Bank of Korea (BOK) said on Monday its outlook for South Korea's economic growth this year may be lowered to as low as 1.6 percent due to a political crisis sparked by suspended President Yoon Suk Yeol and weak domestic demand.
Seoul shares slightly up ahead of Donald Trump inauguration
Seoul, Jan 20: South Korean stocks opened a tad higher on Monday ahead of the inauguration of US President Donald Trump as 47th President.
BOK holds key rate unchanged amid weak currency, Trump uncertainty
Seoul, Jan 16: Despite mounting woes leading to weak growth momentum, South Korea's central bank kept its benchmark interest rate frozen on Thursday in the wake of the weak local currency and uncertainties stemming from the new Donald Trump administration.