[2026 Parliamentary Audit] Shin Hyunsong: "Diversifying foreign exchange reserve management should be considered at the national level"

National Assembly Finance and Economy Committee's Audit of the Bank of Korea

Bank of Korea Governor Shin Hyunsong said on October 12 that the demand for a diverse investment portfolio for foreign exchange reserves was “an issue that must be considered at the national level, including in terms of profitability and strategic value.”

Shin made the remarks when Ahn Dogeol of the Democratic Party of Korea asked about plans for a comprehensive overhaul of the investment targets for foreign exchange reserves during a parliamentary audit of the Bank of Korea by the National Assembly’s Finance and Economy Committee. “Central banks prioritize liquidity and stability above all else,” he said.

Ahn called for the Bank of Korea to expand its foreign exchange reserve holdings, currently focused on the U.S. dollar and government bonds, to include corporate bonds, gold and other minerals, and digital safe-haven assets. In response, Governor Shin said the matter should be reviewed from various angles.

When Ahn pointed out that the Bank of Korea ranked ninth in foreign exchange reserves but 39th in central bank gold holdings, and asked what target would be appropriate and whether there was a future roadmap, Shin said, “There is no specific medium- or long-term plan yet,” adding, “You could say we have just started investing in gold.”

The Bank of Korea said it invested $250 million in gold exchange-traded funds (ETFs) in the second quarter of this year and plans to purchase one metric ton of domestically produced physical gold, worth 200 billion won, in December.

When Ahn said, “Now that you’ve started investing in gold, you should have a target,” Governor Shin replied, “We will set one.”

Yonhap News Agency

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