Bank of Korea
Government Administration서울특별시, South Korea501-1000 Employees
The Bank of Korea is South Korea's central bank, established in 1950 under the Bank of Korea Act, and operates as a special juridical entity with no capital. Its mandate is to pursue price stability, with targets set in consultation with the government and translated into an operational policy plan. Core functions include issuing currency, formulating monetary policy, and serving as both the bankers' bank for financial institutions and the government's bank, while overseeing payment systems and managing foreign exchange reserves. Based in Seoul, in the Jung-gu district, the bank serves the government, financial institutions, and the broader economy by maintaining monetary stability and safeguarding financial infrastructure. In 2026 it advanced a Phase 2 project for a central bank digital currency pilot (Project Han River), signaling continued exploration of digital payments.
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