In an environment in which populations across the world are either ageing or declining, and investment rates are trapped in a long-term deceleration, including foreign direct investment, it is perhaps an opportune moment to focus on productivity growth as the means of arresting the downturn and charting a new trajectory of pushing outwards the growth possibility frontier.
Though stripped of the banking supervisory function, the BOK has been given the statutory right to request managerial information from banks and to ask the FSS to examine banks with it on a joint basis. It can also ask the FSS to examine banks on specific areas of concern to the central bank.