Bank of Korea President: “Neglect changes such as blockchain, lose national trust”
The Bank of Korea Governor Lee Joo-yeol told executives this morning that if they turn away from change, they risk losing the nation’s trust in them.
Governor Lee made his comments at the Bank of Korea vision and strategy meeting this morning in Seoul. He stated further that the central bank may be slowing the growth of AI, big data, and blockchain due to the monetary policies that guide their financial prospects.
courtesy etnews
Lee proclaimed “If we do not proactively respond to such changes, we will weaken our competitiveness as a central bank.”
He urged the bank to develop a mid-to-long term roadmap for the bank as a way to commemorate the bank’s 70th anniversary next year.
Additionally, he suggested they reorganize or totally reconstruct the personnel management system and organizational structure of the operations of the bank in order to meet the rapidly changing environment and expectations of the equally rapidly changing nation.
While this signal from the governor could be just empty words, they could also indicate that the bank will soon be ready to handily manage the hurdles that the next generation of burgeoning technologies has in store for finance and commerce in the coming decade.
