Korea, China can address economic challenges together, BOK chief says in Beijing

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Korea, China can address economic challenges together, BOK chief says in Beijing

Published: 08 Dec. 2023, 10:09 Updated: 08 Dec. 2023, 10:11

SEO JI-EUN
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Bank of Korea (BOK) Gov. Rhee Chang-yong, right, shakes hands with Pan Gongsheng, the governor of the People's Bank of China, at the BOK's office in Beijing on Thursday. [BANK OF KOREA]

The Bank of Korea (BOK) governor, Rhee Chang-yong, expressed optimism about collaboration with China to address a range of economic and social challenges confronting both nations, including issues related to indebtedness and aging populations.

In a speech Thursday to mark the 20-year celebration of the establishment of the BOK's office in Beijing, Rhee hailed the two countries' efforts to respond to economic risks, such as their bilateral currency swap.

"Over the past 20 years, bilateral trade has jumped sixfold, and financial connections and direct investment have also sharply increased," Rhee said.

The People's Bank of China Gov. Pan Gongsheng and Korean Ambassador to China Chung Jae-ho were among the participants.

BY SEO JI-EUN, YONHAP [[email protected]]