In those days of the establishment of the Bank of Korea, the Law of the Bank of Korea, which is a basis of the establishment and the operation of the Bank of Korea, shows the character of the interim legislation that contains the inevitability of amen...
In those days of the establishment of the Bank of Korea, the Law of the Bank of Korea, which is a basis of the establishment and the operation of the Bank of Korea, shows the character of the interim legislation that contains the inevitability of amendment as well as can not embody the stabilization of the value of currency, which has to be maintained by the Bank of Korea, for effective achievement systematically and enough, we think.
The supreme purpose of the Central Bank is also based on the stabilzation of the value of currency, and for the realization of its purpose, a policy-making institution, the Monetary Operations Board, has been organized and its organization must have been reorganized to eliminate the pressure of politics from this organization. On such as disposition, the Bank of Korea as a Central Bank must keep the stabilization of the value of currency and the soundization of the credit system of the bank for the national economic development and attempt the effective and practical utilization of the national resources and the smooth management of overseas settlement reserve fund for the achievement of the international trading foreign exchange transaction necessary for today.
Moreover, for the system atic operation of the monetary policy that the Bank of Korea intends, all financial institutions shall have been performed independently from the compentent institution of the Bank of Korea for their monetary policy for the financial systematic unification. It is because all the financial institutions shall be able to bie free from the chronic and improper intervention of government.
Consequently, the system of the Bank of Korea as the monetary policy-making institution of the Central Bank shall be an intention for the sound and firm monetary system for the elevation of the national economy and the sound progress of the national economy.