Fuel in the Tank
Regulatory framework and approacI1
▪ The Ministry of Strategy and Finance (MOSF) is the financial policy maker (http://english.mosf.ao.kro.
• The Bank of Korea (BoK) is the central ... bank. It is independent of MOSF and is primarily responsible for inflation
targeting formulation and the implementation of monetary policy. It enforces foreign exchange laws and monitors
market activity ... www.bok.or.kr).
• Foreign exchange policy is principally determined by MOSF, while 6OK oversees foreign exchange movements
• Key pieces of legislation governing FX are the Foreign Exchange Transaction Act4 (FETA) and Foreign