The Revision of the Bank of Korea Act | The Bank of Korea https://www.bok.or.kr/ The Revision of the Bank of Korea Act | The Bank of Korea The Revision of the Bank of Korea Act | The Bank of Korea ko Details of the Revision of the Bank of Korea Act(2011.9.16) The Bank of Korea (BOK) Act has been revised, with the passage on August 31, 2011, in the Plenary Session of the National Assembly, of the bill to amend the Act–21 months after it was drafted by legislators of the Strategy and Finance Committee in November 2009.

 

As the importance of macroprudential policies has grown globally–based on lessons drawn from the 2008 global financial crisis–this revision of the Bank of Korea Act is directed toward

strengthening the financial stability role of the central bank in line with this trend.

 

 

Refer to the attached file for major details of Bank of Korea Act revision. 

]]> Mon, 23 Apr 2012 15:00:00 +0900 Details of the Revision of the Bank of Korea Act and its Significance On August 12, 2003, the National Assembly of the Republic of Korea passed the revised Bank of Korea Act (to come into force as of January 1, 2004) that had been tabled by two members of the National Asssembly on behalf of a large bipartisan group of legislators on March, 2003.

As a result of this revision, the degree of independence of the Bank of Korea is expected to be considerably enhanced.

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