Vision, Values and Strategies

  1. About BOK
  2. Vision, Values and Strategies
  3. Vision, Values and Strategies

misson:The bank of korea is making its best efforts to maintain Price and Finanacial Stability, Vision : A global advanced central bank along with full public confidence, Public Interest, independence, Accountability, Open Communication , Professional Excellence

misson:The bank of korea is making its best efforts to maintain Price and Finanacial, Vision : A global advanced central bank along with full public confidence, Public Interest, independence, Accountability, Open Communication , Professional Excellence

Vision : A global advanced central bank along with full public confidence

To maintain the goal of becoming a globally respected advanced central bank worthy of the public trust by ensuring economic stability through the formulation of effective monetary and credit policies, conducting authoritative research into finance and the economy, and providing financial and economic services for the public convenience

  • The policy maker driving economic stability : To play a key role in development of the national economy by maintaining price and financial stability through the establishment and implementation ofneutraland efficientmonetary and credit policies
  • The most renowned research institute : To present directions for policy responses by providing theoretical and practical support to the conduct of monetary and credit policies through accurate financial and economic analysis and forecasting, and by carrying out in-depth analyses of current economicissues
  • The institution providing the best service for the public convenience : To continue improving the quality of financial services and economic education provided to the public and to fulfill social responsibility

Values

  • Public Interest : The Bank pursues the interests of the general public and fulfills its duties in an impartial manner.
  • Independence : We implement our policies effectively, based upon independent and autonomous decision-making.
  • Accountability : We aim to earn the public’s trust by carrying out our work transparently with a sense of ownership and passion.
  • Open Communication : We are respectful and considerate towards one another, and communicate openly with the public.
  • Professional Excellence : We exert outstanding capabilities in our work, with professionalism and insight.

Medium-term Strategies

The Bank of Korea adopted the New Strategic Framework which set objectives and priorities for the Bank’s businesses in 2012. The New Strategic Framework was developed as medium-term strategies for the next three years by integrating existing medium- and long-term development strategies with short-term plans for business operations by sector. The purpose of setting and initiating Medium-term Strategies is to facilitate effective business operations by the Bank and enhance its transparency and accountability, reflecting changes in the policy environment for central banks and their expanded responsibilities following the global financial crisis.

① Medium-term Strategies in 2019

① Medium-term Strategies in 2018
Strategic Objectives(9) Strategic Plans(36)
1. Enhancing the Effectiveness of Monetary and Credit Policies
① Supporting optimal monetary policy decision-making and upgrading the analysis of monetary policy effects
② Heightening the effectiveness of the operation of policy instruments
③ Heightening the effectiveness of inflation targeting operations
④ Building a system for the operation of monetary policy in accordance with changes in financial and economic conditions
⑤ Strengthening communication for the seamless implementation of monetary policy
2. Carrying Out Policies for Financial Stability Effectively
① Checking financial stability conditions and strengthening related communication
② Analyzing and studying financial stability and strengthening external cooperation
③ Actively participating in discussions on global financial regulation
3. Working to Promote Stability of the Financial and Foreign Exchange Markets
① Working to promote stability of the financial and foreign exchange markets and enhancing their shock absorption capacities
② Stepping up monitoring of trends in the financial and foreign exchange markets and analysis of current issues related to them

③ Strengthening the financial safety nets

4. Ensuring the Safety and Efficiency of Payment and Settlement Systems
① Expanding the infrastructure of payment and settlement systems to ensure financial stability
② Promoting payment and settlement innovation and development
③ Strengthening the oversight and policy functions of payment and settlement systems
5. Strengthening Research Studies Related to Current Economic Issues and Expanding Statistics
① Enhancing the accuracy of economic analysis and forecasting
② Searching out pathways to sustainable growth
③ Ensuring that new international statistical standards are applied and take root stably
④ Developing and expanding statistics useful in economic forecasting and analysis

⑤ Improving statistical services provided to the public

⑥ Strengthening research exchanges at home and abroad
6. Heightening the Effectiveness of Foreign Exchange Reserve Operations
① Ensuring stable operation of the foreign exchange reserves
② Seeking effective investment strategies for responding to changes in the market environment
③ Expanding capabilities of foreign exchange reserve operations
7. Enhancing the Efficient Supply and Reliability of Currency
① Establishing a stable currency supply and management system appropriate to the changing currency supply and demand conditions
② Stepping up research studies on cutting-edge anti-counterfeiting technologies for banknotes and strengthening the system for sharing information on forged banknotes with other relevant institutions
③ Expanding research studies related to the currency issue system and currency demand
8. Strengthening Public Communication and International Cooperation
① Strengthening the bank's public communication and improving the quality of economic education
② Enhancing policy exchanges and cooperation with international forums, international organizations and other central banks
9. Rationally Managing Organization and Human Resources
① Enhancing the efficiency of the organization‘s operations and increasing its accountability
② Enhancing the sophistication of risk management and strengthening crisis response capacity
③ Enhancing specialties and task-specific capacities of staff members, and strengthening their communication skills
④ Improving the performance- and ability-based human resource management system
⑤ Rationally streamlining the compensation and welfare system
⑥ Improving work infrastructure to ensure safe and effective business performance
⑦ Systematically managing knowledge and information and stepping up information sharing
⑧ Expanding and upgrading IT services

② Implementation and Achievement of Medium-term Strategies

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