Excellence Award (Balance of Payments Statistics)
at the 2025 Statistics Agency Workshop
The Bank of Korea announced on November 26 that it had been selected as an "Outstanding Institution for National Statistics Development and Improvement" at the 2025 Statistics Agency Workshop, organized by the National Data Agency.
The National Data Agency annually selects and rewards outstanding institutions (nine in total) among the 211 national statistics agencies in 2025, recognizing those that have contributed to the development and improvement of statistics, as well as the promotion and utilization of statistical data. The Bank of Korea received the Encouragement Award (for monetary and financial statistics) last year, and this year was honored with the Excellence Award (for balance of payments statistics).
A Bank of Korea official explained, "This achievement is the result of successfully completing the 'Service Trade Statistics Advancement Project,' which has been carried out in collaboration with the government and affiliated research institutes over the past two years. In March, we completed the development of 'Knowledge Service Trade Statistics' and published them as new official statistics." The official added that these statistics are notable for providing a multifaceted view of Korea's knowledge service industry's trade structure, and are expected to be widely used in the formulation of policies to foster the service industry and in related research.
The official further stated, "Going forward, the Bank of Korea will continue to cooperate with the government to develop new statistics and support the effective formulation and implementation of government policies."
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