Bank of Korea Leverages Technology for Financial Stability and Growth

New Delhi (The Uttam Hindu): The Bank of Korea (BOK), based in Seoul, is responsible for managing South Korea’s monetary policy, inflation and financial stability. Established in 1948, it has adapted to global challenges by incorporating technology like Central Bank Digital Currency (CBDC) and blockchain to improve payment systems and security.

The BOK also uses AI and big data for market analysis and decision-making. Collaborations with fintech companies are modernizing payment solutions, while strong cybersecurity and real-time payment systems ensure secure, efficient transactions. As South Korea faces global economic changes, the BOK’s tech-driven approach is key to its future financial stability and growth.

South Korea's Money Supply Increases Slightly in January Amid Market Volatility

South Korea's money supply saw a modest increase in January, according to the Bank of Korea (BOK), driven by higher lending activity and government efforts to stabilize the economy. Despite global economic uncertainties, the growth in money supply reflects resilience within the financial system. The BOK's report highlighted strong demand for liquidity from businesses and households during financial instability.

The central bank has been adjusting monetary policies to balance economic growth and financial stability, focusing on interest rates and liquidity management. While the rise is small, experts suggest further gradual increases may occur as the global economy recovers. Going forward, the BOK's policy decisions will play a key role in maintaining stability and supporting growth.