Bank of Korea Guide, Meaning , Facts, Information and Description
Bank of Korea (Hanguk Eunhaeng) is the national central bank of Republic of Korea (South Korea). Established on June 12, 1950, the central bank pursuits price stablity, by means of issuing bank notes and coins, promulugating monetary policy, auditting city banks and so on. The executives, consisted by Governor, Deputy Governor, and 5 Assitant Governors, manage departments in head office and 16 regional branches. Besides, Audit Department belongs to the Monetary Policy Committee of the Diet. Park Seung was appointed Governor in 2002. The head office is located at Namdaemun Street, Jung-Gu, Seoul.Bank of Korea is historically derivative of the central bank of Colonial Korea (1910-1945), Joseon Eunhaeng in Korean or Chosen Ginkou in Japanese. Japanese-controlled Bank of Korea was dissolved by the Allied Occupation Forces in 1945, and its assets were transffered to the current Bank of Korea, the Central Bank of Korea in Pyongyang and a private Japanese bank.
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