The Bank of Korea is the central bank of South Korea, established on June 12, 1950 in Seoul as successor to the Bank of Choson. It issues the South Korean won and holds primary responsibility for pursuing price stability to support the country's economic development, alongside monetary policy formulation, banking supervision, foreign exchange management, and oversight of the payment system. The bank is headquartered in Seoul, maintains sixteen regional branches within Korea, and keeps overseas representative offices in major financial centers including New York, London, Frankfurt, Tokyo, and Beijing.
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