The Bank of Korea (BOK) announced Monday that it will move its headquarters in Namdaemun-ro to the former headquarters of Samsung Life Insurance Co. in central Seoul and its banknote issuance office to Gangnam late next month as its headquarters will undergo a three-year renovation project.

Most departments of the headquarters - including the governor’s office and the monetary policy board, which determines the benchmark interest rates, financial stability department, monetary policy department as well as financial markets department - will be relocated starting late next month to June.

The currency department in charge of in charge of issuing notes will be moved to the headquarters in Gangnam where the vault is installed. Businesses related to the national treasury and foreign exchange transaction will be available at the new location in Taepyeong-ro from June 5 and 7, respectively.

By Boo Jang-won

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