I bid you all a very warm welcome to the 2012 Bank of Korea International Conference. In particular, I would like to express my gratitude to Professors Thomas Sargent, Barry Eichengreen, and Yung Chul Park, Dr. Jonathan Ostry, and all of our speakers and participants for their invaluable contributions to this conference. My special thanks go as well to the IMF, our conference co-host.
I am confident that this conference will provide us with an excellent forum for discussing the valuable precepts drawn from the global financial crisis, and sharing ideas in the face of risks and challenges in the years ahead.