East Asia-Pacific Central Bank Governors Gather in Seoul... "Discussing Capital Flows and Exchange Rates"

BOK to Chair This Year's EMEAP Governors' Meeting

[Asia Economy Reporter Seo So-jeong] The Bank of Korea announced on the 5th that, as the chair of this year's East Asia and Pacific Central Banks (EMEAP) Governors' Meeting, it will host the '27th EMEAP Governors' Meeting' and the '11th EMEAP Central Bank Governors and Financial Supervisory Authorities Heads (GHOS) Meeting' in Seoul from the 7th to the 9th, attended by governors of central banks from 11 countries and heads of financial supervisory authorities from 5 countries.

EMEAP is a central bank cooperation organization established in 1991 to promote cooperation and information exchange among central banks in the East Asia and Pacific region. Currently, 11 central banks are members, including those of Korea, China, Japan, Hong Kong, Singapore, Indonesia, Malaysia, the Philippines, Thailand, Australia, and New Zealand.

The EMEAP Governors' Meeting has been held annually since the Bank of Japan first hosted it in Tokyo in 1996. The Bank of Korea previously hosted the 5th Governors' Meeting in Seoul and the 16th Governors' Meeting in Jeju in 2000 and 2011, respectively. This year's meeting is the first in-person meeting in three years since it was held in China in 2019.

The EMEAP GHOS Meeting invites heads of financial supervisory authorities from member countries that have separate financial supervisory bodies to discuss financial stability and regulatory and supervisory agendas. It has been held annually alongside the Governors' Meeting since 2012. Five countries participate, including Korea, China, Japan, Australia, and Indonesia, with the Financial Supervisory Service Governor attending on behalf of Korea.

At the EMEAP Governors' Meeting on the 8th, chaired by Bank of Korea Governor Lee Chang-yong, participants will exchange views on regional and global economic and financial issues in the EMEAP area and discuss the impact of major countries' monetary policy normalization on capital flows and exchange rates within the region.

Additionally, reports on the activities of the EMEAP Governors' Meeting's executive committee, the Monetary and Financial Stability Committee (MFSC), and working groups will be received, and future activity directions will be approved.

At the EMEAP GHOS Meeting on the 9th, Governor Lee and Financial Supervisory Service Governor Lee Bok-hyun will co-chair discussions on key risks faced by financial institutions amid the global financial tightening, risk factors in the crypto asset market, and related policy implications.

This content was produced with the assistance of AI translation services.