silver standard – middle income who can afford but do not have insurance because of the high cost of meeting insurer requirements such as the engineer ’ s certificate ( 36k households ) ; bronze standard – low income who can afford some form of insurance cover but are not offered the relevant products to meet their capacity to pay and the need that they have ( 121k households ) ; microinsurance – considered uninsurable and will need support as they cannot afford to pay for insurance ( 68k households ). the target group at this time is the bronze standard and we have now reached a stage where a product proposal has been put together for a sum insured of $ 7, 000 to be offered as household insurance for majority of the households in fiji with a low level of compliance, and a premium of around $ 200. the world bank will present the final product proposal to the government with the aim of soliciting international aid to assist in reinsuring this insurance portfolio. honourable chair, i hope those remarks are helpful background for the committee ’ s review of the reserve bank of fiji 2016 insurance annual report, and we would be happy to answer your questions. thank you 4 october 2017

choongsoo kim : bank of korea ’ s 63rd anniversary speech by dr choongsoo kim, governor of the bank of korea, at the commemorating ceremony of the bank of korea ’ s 63rd anniversary, bank of korea, seoul, 14 june 2013. * * * dear fellow members of the bank of korea, we come together to commemorate the anniversary of the bank of korea ’ s establishment each year, wherever we work – in seoul, and in our domestic branches and overseas representative offices. by honoring the history and tradition established by those who served before us, and by reflecting on what our contributions are to the development of our national economy and of the bank of korea, and on what kind of legacy we will leave to those who come after us, we use this as an opportunity to look back on the past, to analyze the present, and to seek future directions. it was on this occasion back in 2010, when we celebrated our 60th anniversary and started out on a new sixty - year cycle, that we pledged to ourselves to make the bok ‘ a leading advanced central bank ’ under the banner of a “ global bok ”. this declared our resolve to develop ourselves to fully qualify as members of a leading worldclass organization and to reform the bank of korea with strong resolve so that, reborn as a leading central bank, the bok can play a vital role in steering the course of the korean economy ’ s development. and three years have now passed already since we began our bank ’ s second sixty - year cycle with this solemn declaration before the nation and the world. although countries around the world have over the past five years struggled to emerge from the great recession, which is seen as the worst period of economic crisis since the great depression of the 1930s, their efforts have until now not borne sufficient fruit. on the one hand countries have tried various new and unprecedented macroeconomic policies, in order to overcome the crisis as quickly as possible and to achieve economic recovery. and on the other hand they have devoted utmost efforts to pursuing global financial regulatory reforms, to forestall a future crisis and prevent crisis from recurring. and the korean economy is no exception to this trend of change, and is facing a variety of challenges and tasks in line with the changes in environment at home and abroad. this situation can be comparable to the adventure of exploring an unspoiled and unknown world, and the effectiveness of our knowledge and experience are being tested. in the past, of course, the