Bank CEOs Meet with Bank of Korea Governor: "Actively Striving to Expand Market Liquidity Supply"

Dinner Meeting of Lee Chang-yong, Governor of the Bank of Korea, and Commercial Bank Presidents

Bank of Korea Governor Lee Chang-yong is explaining the base interest rate hike at a press conference held at the Bank of Korea in Jung-gu, Seoul, on the 12th. Photo by Joint Press Corps

[Asia Economy Reporter Seungjin Lee] Heads of commercial banks stated, "The banking sector will also actively cooperate with the government and the Bank of Korea to expand market liquidity supply."

Kim Kwangsoo, Chairman of the Korea Federation of Banks, and the heads of 15 banks met with Lee Changyong, Governor of the Bank of Korea, for dinner at the Bankers' Hall in Myeongdong, Seoul, at 6 p.m. on the 26th, where they made this announcement.

Regarding the recent liquidity crunch, the commercial bank heads added, "We will fulfill our responsibility to stabilize the short-term financial market and bond market, and do our best to supply funds to meet actual demand, including providing uninterrupted loans to corporate sectors facing difficulties due to temporary liquidity shortages."

They also promised, "We will maintain close communication with the Bank of Korea throughout the process of promoting various financial innovations, including CBDC (Central Bank Digital Currency)."

Governor Lee explained to the bank heads the background of the monetary policy decision made on the 12th, which included a 0.50 percentage point increase in the base interest rate, and emphasized, "Let us communicate and cooperate together to ensure financial market stability."

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