After the 1945 liberation, founding of the central bank that could independently conduct monetary and credit policy was a pressing task for Korea to establish a modern financial system. Upon enactment of Bank of Korea Act in May 5, 1950, Bank of Korea was born on June 12, 1950, as the central bank of Republic of Korea. The Founding Charter delivers a strong commitment of the employees to overcome the economic turmoil at that time and contribute to Korea's economic development.