BOK chief discusses COVID-19, digitalization with Asia-Pacific central banks

BOK Gov. Lee Ju-yeol attends a parliamentary audit held at the National Assembly in western Seoul on Oct. 23. (Yonhap)

Bank of Korea Gov. Lee Ju-yeol attended a videoconference with central bank representatives from 11 Asia-Pacific nations, the nation’s central bank said Monday. Key topics included the effects of COVID-19 on the economy.

The 25th Executives’ Meeting of East Asia-Pacific Central Banks was a follow-up to a similar meeting held Aug. 19.

The long-term effects of the pandemic on the economy, GDP outlooks and the digitalization of central banks were among the topics discussed, the BOK said in a statement.

The Executives’ Meeting of East Asia-Pacific Central Banks was established in 1991 to foster good economic and monetary ties among its members. Its members include the central banks of Australia, China, Japan, Singapore and Thailand.

The central banks of key economies are facing the task of digitalization, and especially the development of their own digital currencies.

By Jung Min-kyung (mkjung@heraldcorp.com)