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Monetary Policy Decision (October 22, 2026)

The Monetary Policy Board (MPB) of the Bank of Korea decided to leave the Base Rate unchanged at 3.00% for the intermeeting period.

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BOK Base Rate 3.00% Inflation Target 2.0%

BOK Issue

BIS Media Release BOK Governor Appointed Chair of BIS CPMI Bank of Korea Governor Hyun Song Shin appointed Chair of the Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI) for a three-year term from 1 November. 2026. 11. 10

BOK Issue Note An Assessment of Recent Youth Labor Market Conditions: Causes and Policy Implications [BOK Issue Note 2026-27] This paper examines both quantitative indicators and various measures of job quality to identify the underlying drivers of the deterioration in youth employment conditions and sentiment. 2026. 10. 26

BOK Issue Note The Impact of the IMF's EBA Model Revision on the Assessment of Korea's Current Account [BOK Issue Note 2026-26] This paper reviews the main features of this year's EBA model revision and next year's proposed revision, and quantitatively analyzes their impact on the IMF's assessment of Korea's external sector. 2026. 10. 06

BOK Issue Note AI and Regional Labor Markets[BOK Issue Note 2026-25] This paper examines whether AI diffusion could widen regional disparities in Korea through the labor market. 2026. 09. 15

BOK Issue Note How Are Global Economic Linkages Being Reshaped amid Geopolitical Fragmentation? Despite prolonged geopolitical tensions, including the U.S.–China rivalry and the Russia–Ukraine war, global trade has remained relatively stable, rather than fragmenting into full-scale rival blocs as seen during the Cold War(1947–90). 2026. 09. 13

BOK Issue Note Assessing Household Debt Risks Using the Korean Household-Level Consumer Credit Panel This study assesses household debt risks by constructing a new database that extends conventional individual-level analysis to the household level, hereafter referred to as the Korean household-level consumer credit panel (KhCCP). 2026. 09. 07

Blog Does AI Adoption Improve Productivity? It has been nearly three years since ChatGPT launched. AI has already become an irreplaceable tool for many workers. It is no longer unusual to ask AI to draft a report or to use AI for data analysis. In fact, as of 2025, more than half of employed persons in Korea (51.8%) are using generative AI at work, and this pace is as much as eight times faster than the diffusion of the Internet in the past[Figure 1]. 2026. 07. 22

Speeches Governor Hyunsong Shin at the ECB Forum on Central Banking 2026 Governor Shin presented a paper titled "A unified ledger in practice: lessons from Project Hangang" at the European Central Bank Forum on Central Banking 2026. The video(Seesion 4, 1:07:48) can be accessed via the following link. 2026. 07. 01

Research Papers

BOK Issue Note AI and Regional Labor Markets[BOK Issue Note 2026-25] 1. Will the diffusion of AI deepen concentration in the Seoul metropolitan area (SMA), including Seoul, Incheon, and Gyeonggi, and widen regional labo... 2026.11.11

BOK Issue Note An Assessment of Recent Youth Labor Market Conditions: Causes and Policy Implications [BOK Issue Note 2026-27] 1. Since the pandemic, weaknesses in youth employment have become particularly evident in qualitative indicators, distinguishing the current period fr... 2026.10.26

BOK Issue Note Assessing Household Debt Risks Using the Korean Household-Level Consumer Credit Panel ① This study assesses household debt risks by constructing a new database that extends conventional individual-level analysis to the household level, ... 2026.10.08

BOK Issue Note The Impact of the IMF's EBA Model Revision on the Assessment of Korea's Current Account [BOK Issue Note 2026-26] ① In its External Sector Report released in July 2026 (ESR 2026), the IMF assessed Korea's 2025 current account surplus as "stronger" than the l... 2026.10.06

BOK Issue Note Green Bond Issuance in Korea: Market Conditions and Policy Implications 1. Uncertainty regarding the direction of climate policies has recently increased across major economies. However, climate risks are likely to ac... 2026.10.02

Quarterly/Economic Analysis [Vol.32 No.3] Equity Market Information Windows and Intraday Cryptocurrency Trading in Korea Author : Chanho Yee(Bank of Korea) This paper examines intraday linkages between equity-market information windows and the Korean cryptocurrency m... 2026.09.30

Quarterly/Economic Analysis [Vol.32 No.3] Supply Chain Risk and Import Diversification: The Effects of Japan’s Export Restrictions on Korea’s Materials, Parts and Equipment Industry Author : Ho Kyung Bang(Korea Development Institute) Japan's export restrictions on Korea in July 2019 were a leading example of a supply chain sho... 2026.09.30

Quarterly/Economic Analysis [Vol.32 No.3] Incidence of Smart Factory Policy-Related Effects: A Firm-Size-Disaggregated Input-Output Analysis Author : Kayoung Park(Korea Institute for Industrial Economics and Trade), Jinmyon Lee(Korea Institute for Industrial Economics and Trade) This st... 2026.09.30

BOK Issue Note How Are Global Economic Linkages Being Reshaped amid Geopolitical Fragmentation? Despite prolonged geopolitical tensions, including the U.S.–China rivalry and the Russia–Ukraine war, global trade has remained relatively stable, rat... 2026.09.22

BOK Working Paper Paper (in Korean) BOK Working Paper No.2026-15, Co-movement of Long-Term Interest Rates between Korea and the United States Author : Jaeho Yun(Ewha Womans University), Dowan Kim(Bank of Korea), Hyungsuk Lee(Bank of Korea) This paper examines the evolving pattern of co-m... 2026.09.20

Annual Report on the Payment and Settlement Systems Payment and Settlement Systems Report 2025 In 2025, amid the ongoing digital transformation of finance, the need to upgrade infrastructure to enhance cross-border payments and related financial... 2026.09.17

Monetary Policy Reports Executive Summary for Monetary Policy Report (September 2026) Monetary Policy Report at a Glance Monetary Policy Decisions [Bank of Korea Base Rate] Back-to-back Base Rate Hikes from 2.50% to 3.00% Economi... 2026.09.10

Korea Economic Outlook Korea Economic Outlook (August 2026) In order to provide a detailed understanding of Korea's economic outlook, a translation of the Economic Outlook is now published quarterly. 2026.09.04

BOK Issue Note Stablecoin–FX Linkages: Evidence from Fiat–Stablecoin Pair Listings on a Global Exchange As the issuance and use of USD stablecoins have expanded, policy interest in the linkages between USD stablecoin markets and conventional foreign exch... 2026.09.03

Financial Stability Report Financial Stability Report (June 2026) - Please refer to the attached PDF file. - This is a translation prepared by the Bank's staff based on the original Korean text released on June ... 2026.08.31

BOK Issue Note How Will Consumption Evolve in Regions Benefiting from the Semiconductor Boom?: Spillover Effects Examined Through Regional Microdata [BOK Issue Note 2026-20] 1. As the semiconductor industry sustains an unprecedented boom, expectations for its broader economic spillover effects are also rising. Indeed, Gros... 2026.08.31

BOK Working Paper (in English) BOK Working Paper No.2026-14, Economic Shocks and Income Polarization under Quasi-Marketization: Evidence from North Korea Author : Yongshin Cho(Economic Research Institute, Economic Security Studies Team) This paper examines how adverse economic shocks reshape the inc... 2026.08.24

BOK Regional Economic Report (BOK Golden Book) Regional Economic Report(July 2026) This is a condensed English version of the Regional Economic Report published in Korean on July 29, 2026. Regional economic conditions in the Regional... 2026.08.18

BOK Issue Note Who Moved the Career Ladder? AI and Youth Employment in Korea We examine youth employment trends amid AI diffusion using National Pension subscriber data and the Economically Active Population Survey. First, the ... 2026.08.18

BOK Issue Note Rethinking Tourism as a Service Export: Growth Effects and Policy Implications The number of inbound visitors to Korea reached approximately 18.94 million in 2025, surpassing the pre-pandemic peak of 17.50 million i... 2026.08.05

Press Releases

Financial Market Trends in October 2026 Please refer to the attached files. 2026.11.11

Balance of Payments during September 2026 (preliminary) □ For September 2026, the Korean current account registered a surplus of 61.46 billion dollars. □ Looking at the financial account, net assets i... 2026.11.05

Official Foreign Reserves(October 2026) Please refer to attached files. 2026.11.04

Monetary Policy Board's policy-setting meeting dates for 2027 * Please refer to the attached file for details 2026.10.29

Interest Rates (Sep 2026) □ In September 2026, the average interest rate on new deposits was 3.45%, up 24 basis points from the previous month. ― Th... 2026.10.29

Business Survey and Economic Sentiment Index (ESI) for October 2026 ※ Refer to the attached file for details 2026.10.29

Real Gross Domestic Product: Third Quarter of 2026 (Advance Estimate) ◈ Real gross domestic product (chained volume measure of GDP) increased by 1.0 percent in the third quarter of 2026 compared ... 2026.10.27

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