countermeasures. in this process, i will work to ensure that we can achieve more effective financial cooperation with major central banks and international financial organizations. we also need to pool our wisdom for the stable management of household debt. dear members of the bok family! the last two years have afforded me a good opportunity to look at the bank of korea from a more objective perspective. the outside evaluations of the bank differ from what we ourselves believe we are, and i think contain many points that we can refer to in conducting our tasks. here today, i would like to request the following : we need to look back once again, and consider the appropriateness of our ways of thinking and handling the work that we have taken as natural until now. all organizations tend to have their own thoughts and patterns of behavior distinct from those of other organizations. from the outsider ’ s view, however, this can be seen as a kind of institutional self - centeredness that tries to disregard changes in the environment. as i mentioned earlier, people ’ s expectations for the central bank are at this time higher than ever before. we should bear in mind that, if we do not think outside the box, it can be difficult for us to play the role and carry out the mission befitting the needs of our time. particularly, since the bank of korea is a national policy organization, we should always look squarely at the problems which the korean economy faces and maintain a positive attitude while seeking the appropriate policy options. only then will the bank of korea be able to be recognized as working together with the people, and contributing to the development of the national economy. to this end, i hope that all of you will devote yourselves to selfimprovement, and to being top - class specialists in your areas of work. i will devote myself to creating an environment in which all employees can trust and communicate candidly with one another. we should never forget that a workplace culture where seniors, juniors and coworkers trust, respect and care about one another is a very valuable asset which our predecessors have cultivated for a long time. dear fellow members of the bank of korea! i would like to briefly tell you my thoughts related to this organization and to its human resource management. i will completely reexamine the efficiency of our current management administration system and operating procedures. i will work to further enhance the positive aspects of the various reforms taken in the internal management area in the past years. if, however,

there are bis central bankers ’ speeches measures that have had adverse side - effects contrary to their original purposes, such as the lowering of work efficiency, they will need to be improved on as soon as possible. and so i will begin to work on this immediately. i will also examine carefully whether the current organization of our bank allows us to commit ourselves to our natural duties including the conduct of monetary policy, and devote myself to ensuring improvements in any areas needing it. related to human resource management, as i have mentioned before the most important criteria should be performance and reputation built up over a long period of time. i believe that only these criteria will encourage us to further ourselves from a long - term perspective and dedicate ourselves to the development of our bank. and while seeking the stability of our organization based upon this principle, i will also pursue diversity and openness. dear fellow bok staff, the bank of korea is a public asset, which the people have entrusted to our care, and we are therefore responsible for contributing to the development of our national economy. let us reconfirm our responsibility for committing ourselves only to our national economy and to the people of korea. i am confident that, by combining our outstanding 64 - year tradition with the flexibility of thought that the new environment requires, we can feel a strong motivation to work with dignity and pride. thank you. bis central bankers ’ speeches