Bank of Korea
Myeong Kyun Park has been serving at the Bank of Korea since May 2000, holding various significant positions, including Deputy General Manager of the Busan Branch and leadership roles in multiple teams focused on network, IT security, and management information systems. With over 12 years of experience in foreign reserves management, Myeong Kyun Park has developed and managed critical systems, including the foreign reserves management system and international e-trading systems, alongside successfully rebuilding BOK's reserve management system using Calypso, SAP BO, and Oracle. Myeong Kyun Park's academic credentials include a Master's degree in Business Administration from Korea National Open University and a Bachelor's degree in Computer Science.
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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.