Actually the idea of introducing such an instrument was originated by the seminar paper written by Professor Hyun Song Shin, who emphasized the importance of controlling the excessive volatility in the banking sector due to increases in non-core liabilities of the banking system. That was the way to deal with the pro-cyclical nature of the changes in the liquidity.
After Korea thought of the necessity of introducing such a macro-prudential measure the first thing we did was to send government and central bank officials to international organizations including the IMF and the OECD for consultation, to ensure that the measure is in line with global norms.