SEOUL – The governor of the Bank of Korea (BOK) anticipates increased cooperation with China to tackle common economic challenges such as indebtedness and aging populations, the central bank disclosed on Friday.
According to Yonhap News Agency, In a speech commemorating the 20th anniversary of the BOK’s Beijing office, Gov. Rhee Chang-yong praised the progress in economic risk management between the two countries, highlighting their bilateral currency swap agreement. “Over the past 20 years, bilateral trade has increased sixfold, and there has been a sharp rise in financial connections and direct investment,” Rhee noted. The celebration was attended by notable figures including the People’s Bank of China Gov. Pan Gongsheng and South Korea’s ambassador to China, Chung Jae-ho.