Kwon Min-soo, the new deputy governor of the Bank of Korea, said in a speech that the South Korean economy is facing complex challenges and currently needs to adopt prudent and flexible policy decisions. According to a speech released by the Bank of Korea, Kwon Min-soo said, “Despite benefiting from the strong performance of the semiconductor industry, economic growth was better than expected, the inflation rate was still higher than the target level, and the risk of financial imbalances centered on household debt and housing prices still exists.” Kwon Min-soo said that the Bank of Korea will more faithfully carry out its core duties of maintaining price stability and financial stability, and will continue to improve monetary policy tools and market communication mechanisms.

Kwon Min-soo, the new deputy governor of the Bank of Korea, said in a speech that the South Korean economy is facing complex challenges and currently needs to adopt prudent and flexible policy decisions. According to a speech released by the Bank of Korea, Kwon Min-soo said, “Despite benefiting from the strong performance of the semiconductor industry, economic growth was better than expected, the inflation rate was still higher than the target level, and the risk of financial imbalances centered on household debt and housing prices still exists.” Kwon Min-soo said that the Bank of Korea will more faithfully carry out its core duties of maintaining price stability and financial stability, and will continue to improve monetary policy tools and market communication mechanisms.