Bank of Korea
Jae Yun Jung is an accomplished professional with extensive experience in the financial and media sectors. Currently serving as Head of Section at the Bank of Korea since December 2019, Jae Yun previously held the position of General Manager at Kbank, overseeing communication strategies from December 2017 to December 2019. Prior roles include Senior Reporter at Munhwa Broadcasting Corporation from June 2014 to December 2017, Team Leader of the Korea Business News at Bloomberg LP in 2013, and Staff Reporter at Dong-A Ilbo from 2002 to 2012. Jae Yun holds an MA in Digital Media from Goldsmiths, University of London, and a BSc in Molecular Biology from Seoul National University.
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Bank of Korea
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Bank of Korea was established on June 12, 1950 under the Bank of Korea Act. Bank of Korea was originally established with a capital of 1.5 billion won, all of which was subscribed by the Government, but the amendment of Bank of Korea Act in 1962 made the Bank a special juridical person having no capital. The primary purpose of the Bank, as prescribed by the Act, is the pursuit of price stability. The Bank sets a price stability target in consultation with the Government and draws up and publishes an operational plan including it for monetary policy. To this end, the Bank performs the typical functions of a central bank: issuing banknotes and coins, formulating and implementing monetary and credit policy, serving as the bankers' bank and the government's bank. In addition, Bank of Korea undertakes the operation and oversight of the payment and settlement systems, and manages the nation's foreign exchange reserves. It also conducts supervisory functions for financial institutions as stipulated in Bank of Korea Act.