BOK governor nominee emphasizes the importance of adaptable monetary policy in light of the conflict in Iran
Bank of Korea Governor Nominee Advocates Adaptable Monetary Policy Amid Iran Conflict
Shin Hyun-song, the candidate for the Bank of Korea's governorship, emphasized on Tuesday the importance of maintaining a flexible approach to monetary policy in response to escalating risks stemming from the ongoing conflict involving Iran. Speaking to journalists, Shin noted that the current state of the Korean won and overall market liquidity remain stable, despite the currency reaching its lowest value against the U.S. dollar since March 2009 during Seoul trading.
Shin identified the turmoil in the Middle East as the most significant threat facing South Korea's economy at present. He also highlighted the necessity of an additional government budget to support low-income individuals who are experiencing financial hardship as a result of the Iran war.
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