by 10 or so of our staff continue to be available, and our global initiative program ( gip ), to which world - renowned figures are invited and which we attend together with staff from other central banks, is also being actively promoted. our overseas representative offices moreover deliver useful information to headquarters in a timely manner, and at our regional branches as well various high quality joint research is being conducted – all of which things were hard to foresee in the past and of which i am very proud. self - praise that others might not agree on should of course be cautioned against. the significances of the changes that i have mentioned could be found in the context of their being actual supporting evidence of your potentials coming to be recognized in communities at home and abroad. needless to say, these changes should be regarded as outcomes produced through the joining of all of our forces, to heighten our organizational strength, rather than through the efforts of only a few people. since last summer, and for the first time since the bank ’ s foundation, gatherings of all of our almost 200 team heads have been held twice. at these meetings changes in our roles in line with the revision of the bank of korea act were discussed, and medium - to long - term visions pledging the bank of korea ’ s development were established on our own and announced. last month an athletic meet was held that brought together all staff from our headquarters bis central bankers ’ speeches and 16 regional branches – also for the first time since our foundation. i believe that this was an opportunity for all of our members to meet one another and an occasion to confirm our being “ one family ”. the most prized reward of these gatherings was the instilling of a strong sense of belonging in all employees. in addition, we developed the administrative capacity to organize and run such large events, and together shared an awareness that there are always people serving and sacrificing for the sake of this whole organization – important rewards that i must say cannot be overlooked. we must renovate our thoughts and behavior, to bring ourselves closer to the international community while at the same time avoiding isolation from domestic society. the korean economy is no longer small in world society now. we need to develop our abilities to present to the world our ideas for world development and lead international society in the directions that we desire, rather than remaining at the level only of understanding the words that others speak. and our opinions should not be limited to those concerning the impacts of the international

choongsoo kim : 62nd anniversary of the bank of korea speech by mr choongsoo kim, governor of the bank of korea, commemorating the bank of korea ’ s 62nd anniversary, seoul, 12 june 2012. the following is an unofficial english translation. * * * dear fellow members of the bank of korea, we are all gathered here today to commemorate the 62nd anniversary of the bank of korea ’ s establishment. we take pride in the bank of korea's dedicated performance of its role as the central bank of the republic of korea during our economy's achievement of remarkable economic development in the world over the past half century, rising from the level of one of the poorest countries to reach the threshold of advanced country status, and there cannot be even the slightest wavering in our resolution to continue sincerely carrying out our duties going forward as well. exactly one year ago today, in this place, we pledged to make the following year ’ s anniversary ceremony an occasion to confirm the bank of korea ’ s heightened stature. we also solemnly expressed it as our call in this age to set up a new stature of the bank of korea, standing tall in the world upon the foundation of the enduring history and tradition built up over the many years since our bank ’ s establishment by those who served before us. i in addition appealed to you to set out together to create a global bok, with the resolve to be reborn – as the bank had come to complete what is comparable to a 60 - year life cycle in the orient and embarked on a new one. each year we have used this anniversary ceremony as an opportunity to straighten our backs and reaffirm our determination. and at this year ’ s ceremony i would like to look first into the domestic and external conditions surrounding us, to examine secondly the changing role of central banks called for since the global crisis, and to then finally examine the waves of change that all of us are together now seeking to push forward. i should like to take this opportunity to reflect once again on our vision and resolution, with a “ new self each day and the next ” ( 日 日 新 [UNK] 日 新 ) conviction embodying the self - discipline to always ceaselessly develop oneself further. dear friends and colleagues, first of all, let us look at the international economic environment surrounding us. despite the efforts on the parts of individual countries over the past five years the global economy remains unable to pull itself out of the global financial crisis, referred to