Bank of Korea s new deputy governor takes office
Posted : 2021-05-17 15:14
Min Jwa-hong, deputy governor at Bank of Korea
The Bank of Korea s (BOK) new deputy governor, Min Jwa-hong, took office Monday bring with him hopes that his strong leadership and communication skills will help the central bank see stable growth.
Min joined the BOK in 1989 and previously held various posts in the central bank s major divisions, including the financial market and international collaboration.
For three years since February 2015, he also worked as the public economy policy director at the Ministry of Economy and Finance, where he helped mediate policy-making between the central bank and the government.
Bank of Korea to expand purchase of bonds for companies with low credit
Posted : 2020-12-24 16:29
Updated : 2020-12-24 21:38
Min Jwa-hong, center, director general at the Bank of Korea s financial stability department, speaks during an online press conference at its headquarters in Seoul, Thursday. Courtesy of Bank of Korea
By Lee Min-hyung
The Bank of Korea (BOK) decided Thursday to extend its financing to a special purpose vehicle (SPV) for another six months to July 2021, a move to relieve companies with low credit from a liquidity squeeze induced by the prolonged coronavirus pandemic.
The central bank set up the SPV in July 2020 with the Korean Development Bank (KDB) and the Ministry of Economy and Finance. The central bank provided loans worth 1.78 trillion won for the SPV to purchase commercial papers and corporate bonds and help companies tackle the virus shock.