Korean Version of FRED Released... BOK Unveils Financial and Economic Snapshot Service

Easily View Macroeconomic Data at a Glance

The Bank of Korea has launched a platform called 'Snapshot' that visualizes financial and economic data in an easy-to-understand format. Similar to the Federal Reserve Bank of St. Louis's proprietary database 'FRED,' widely used by investors worldwide, it aims to organize data clearly so that anyone can easily utilize financial and economic information.

On the 18th, as part of expanding public services, the Bank of Korea introduced the financial and economic Snapshot service for the first time. Snapshot is a platform that provides visual content such as graphs and maps to help the public better understand and use domestic and international financial and economic conditions.

Snapshot development began after Governor Lee Chang-yong of the Bank of Korea, upon taking office last year, saw the platform used internally and suggested, "It would be good to share high-quality content not only within the Bank but also with the public." The content composition and related infrastructure development took about nine months and was unveiled on this day.

Snapshot is characterized by its accessibility and convenience, as it can be used not only on PCs but also on various mobile devices such as tablets and smartphones.

The Bank of Korea's financial and economic Snapshot is broadly divided into eight sections: domestic financial market, foreign exchange market, real economy, regional economy, international financial market, global economy, top 100 indicators, and Korea's economy in the world. It is further subdivided into 34 subcategories by market, region, and sector, containing diverse visual content by topic.

It also includes various convenience features such as a graph search bar and favorites, containing a total of 375 graphs and other visual materials. Users can easily find desired graphs using keyword searches, with search results displayed according to classification systems.

Various convenience features such as saving favorite charts, zooming in, saving data and image files, and setting chart periods have also been applied. Using charts enhances intuitiveness compared to the existing Bank of Korea Economic Statistics System (ECOS) and allows users to grasp each thematic area at a glance.

Hong Won-seok, head of the Bank of Korea's Digital Innovation Office, said, "The data used in Snapshot is updated daily, and an English service is also provided." He added, "We plan to continue efforts to meet the diverse demands of the public's economic interests and to improve the Snapshot service."

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