Published : 2013-08-16 20:09
Updated : 2013-08-16 20:09
An English-language book on South Korea’s foreign exchange policies written by a former veteran central banker will be released next week, shedding light on the country’s experience in overcoming the global financial crisis, the publisher said Friday.
In the book titled “Exchange Rate and Foreign Exchange Policies in Korea,” Ahn Byungchan, a former director general at the Bank of Korea, stressed the need to thoroughly manage the foreign reserves and improve macroprudential soundness to prevent the repeat of another financial crisis.
“I hope that my book could help promote better understanding of Korea’s FX policies and share the country’s experience in tiding over the 2008 global financial turmoil with policymakers in emerging countries and FX rate-related financiers,” Ahn told Yonhap News Agency.
Ahn, who joined the BOK in 1977, served as director general of the central bank’s international department from May 2007 to August 2010. He is currently working as the chief audit executive at KB Investment & Securities Co., the brokerage unit of KB Financial Group.
The book is based on his many years of experience in the FX policy field at the BOK, focusing on how Korea fast recovered from the brunt of the 2008 global financial turmoil and what policy tasks it faces ahead, according to Hannarae Publishing Co. (Yonhap News)