Bank of Korea

Bank of Korea Sees Threat to Financial System in Leveraged Crypto Trading

The central bank governor has pledged to monitor transactions of Korea's financial institutions associated with leveraged crypto trading.

News  ·  27 May 2021

South Korea’s Central Bank to Choose Supplier for Digital Currency Pilot

The Bank of Korea is looking for a technology supplier to explore a digital currency in a test environment.

News  ·  24 May 2021
Regulation

South Korea’s Central Bank Seeks Authority to Monitor Crypto Transactions: Report

The Bank of Korea hopes to start as early as September, an official said.

News  ·  13 May 2021
CBDC

CBDCs Will Reduce Demand for Bitcoin, Says South Korea Central Bank Chief

Bank of Korea Governor Lee Ju-yeol says once central bank digital currencies (CBDC) are introduced, the demand for cryptocurrencies like bitcoin fall.

News  ·  26 March 2021
CBDC

Bank of Korea Chief on CBDC: Better Right Than Fast

Bank of Korea Governor Lee Ju-yeol isn’t bullish on bitcoin, but he sees potential in a central bank digital currency (CBDC), if it’s done right.  Speaking at a press conference on Thursday, Lee said that when it comes to a CBDC, it’s better to do it right than do it fast, citing the cautious approach […]

News  ·  25 February 2021
CBDCs

Bank of Korea: CBDCs Are Fiat Currency Not Virtual Assets

Some legal changes would be needed before a potential central bank digital currency launch in South Korea, research indicates.

Policy & regulation  ·  8 February 2021
CBDCs

South Korea’s Central Bank Starts Technical Phase for Digital Currency Ahead of 2021 Pilot

The Bank of Korea is seeking a partner to help develop the architecture for a potential central bank digital currency.

Policy & regulation  ·  31 August 2020
CBDCs

S. Korea’s Central Bank Forms Legal Panel to Advise on Possible Digital Currency Launch

The Bank of Korea has set up a legal panel to advise on possible regulatory sticking points for a future CBDC issuance.

Policy & regulation  ·  15 June 2020
Blockchain

South Korea’s Central Bank Is Building a New Blockchain System for the Bond Market

The Bank of Korea is reportedly looking to build a blockchain system for the Korean bond market.

News  ·  20 February 2020
News

Developed Countries Have Little Need for CBDCs, Says Bank of Korea Official

The Bank of Korea has again poured cold water on the idea of adopting a central bank digital currency, according to remarks made by an official of the central bank.

Markets  ·  31 October 2019
CBDC

Korean Central Bank Study: Issuing Digital Currency Poses Financial Risk

A Bank of Korea study concluded that a central bank digital currency could adversely affect commercial banks and ultimately financial stability.

Policy & regulation  ·  7 February 2019
Regulation

Bank of Korea: Central Bank Cryptocurrencies Pose ‘Moral Hazard’

South Korea's central bank has announced that it does not plan to launch its own digital currency over fears it could destabilize the economy.

Policy & regulation  ·  18 June 2018
Cryptocurrency

Survey: Younger Koreans More Likely to Invest in Crypto

Nearly a quarter of South Koreans in their 20s want to invest in cryptocurrencies, according to a new poll conducted by Bank of Korea.

Markets  ·  28 March 2018
Regulation

Korea’s Central Bank Forms Task Force to Study Cryptocurrency Impact

The Bank of Korea, South Korea's central bank, has launched a cryptocurrency task force to explore the technology's effects on the financial system.

Policy & regulation  ·  11 January 2018
Central Banks

Bank of Korea: Costs Could Limit Cryptocurrency Use

Bank of Korea has published a new working paper that speculates on how a cryptocurrency economy would impact central banks.

Tech  ·  24 April 2017