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2019 ECONOMIC POLICIES
PRESS CENTER
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Weekly Newsletter

PRESS CENTER Weekly Newsletter

Our weekly newsletter provides the latest press releases of the Ministry of Economy and Finance, the Financial Services Commission and the Bank of Korea. Sign up for our weekly newsletter and get email briefing on Korea’s latest economic policies.

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Major News & Events

MOEF

Consumer Price Index, March 2020 (April 2)

The Consumer Price Index was 105.54 (2015=100) in March 2020. The index fell 0.2 percent from the preceding month and rose 1.0 percent from the same month of the previous year.

MOEF

3rd Crisis Management Meeting (April 1)

The government discussed potential risks incurred due to the COVID-19 pandemic and ways to prepare for them.

MOEF

Monthly Industrial Statistics, February 2020 (March 31)

The index of all industry production in February decreased by 3.5 percent from the previous month, and increased by 4.9 percent from the same period of the previous year.

MOEF

Government Announces Emergency Relief Payment (March 30)

The government decided to offer emergency relief payments of 9.1 trillion won to households in the bottom 70 percent income bracket at the 3rd Emergency Economic Council Meeting held on March 30.

MOEF

Korea Shares COVID-19 Response Strategies with WB (March 30)

At the request of WB Vice President for Infrastructure, the government sent its COVID-19 response strategies to the bank working to help developing coungries fight against the disease.

FSC

2020 Korea Fintech Week to be Held as Virtual Expo (April 2)

The FSC announced on April 1 that the 2020 Korea Fintech Week originally scheduled to be held at Dongdaemun Design Plaza (DDP) in Seoul from May 28 to 30 will be held as a virtual expo due to public health concerns amid the spread of COVID-19.

FSC

A Total of 102 Innovative Financial Services Approved for Regulatory Sandbox as of April 1, the First Year Anniversary of the Deregulatory Program (April 1)

The FSC added nine innovative financial solutions to its financial regulatory sandbox on April 1, 2020, the first year anniversary of the deregulatory program, making it 102, the total number of financial services approved for the program since its inception.

FSC

Public Financial Data Made Accessible in April (March 31)

The FSC will make available to the public approximately 44 million pieces of public financial data held by the FSC and nine other financial institutions via an open API in early April.

FSC

Basel III Credit Risk Framework to Be Early Adopted in Q2, 2020 (March 30)

The FSC and the FSS announced the early adoption of the credit risk framework of Basel III in late June this year, more than one year and a half earlier than the 2022 adoption recommended by the Basel Committee on Banking Supervision.

BOK

Official Foreign Reserves, March 2020 (April 3)

Korea's official foreign reserves as of the end of March 2020 amounted to 400.2 billion dollars.

BOK

Competitive Auctions of US-Korea Swap Dollars Held (April 1)

Bank of Korea conducted competitive US dollar loan facility auctions of proceeds from swap transactions with Fed. The total amount offered was USD 12 billion (USD 10 billion for 84-day tenor and USD 2 billion for 7-day tenor).

BOK

Interest Rates, February 2020 (March 31)

In February 2020, the average interest rate on new deposits was 1.43%, down 11 basis points from the previous month.

BOK

Business Survey Index (BSI) and Economic Sentiment Index (ESI), March 2020 (March 31)

The Business Survey Index (BSI) in the manufacturing sector for March 2020 was 56, down 9 points from the previous month, and the outlook for April fell by 15 points to 54.


Announcement On Upcoming Releases

MOEF

  • Government Financial Statement (April 7)

BOK

  • Balance of Payments, February (April 7)
  • Flow of Funds, 2019 (April 8)
  • Financial Market Trends, March 2020 (April 8)
  • Monetary Policy Decision (April 9)
  • Recent Economic Developments (April 9)
  • Monetary and Liquidity Aggregates, February 2020 (April 10)
Each institution is responsible for the information it provides in the bulletin.

Ministry of Economy and Finance
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