BOK governor nominee says flexible monetary policy needed amid Iran war
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Shin Hyun-song, nominee for the governor of the Bank of Korea, emphasized the need for a "flexible" monetary policy to address risks from the Iran war. He noted that the current Korean won level is not alarming and liquidity remains stable, despite the currency reaching its weakest point against the U.S. dollar since March 2009. Shin identified the Middle East crisis as a significant threat to the Korean economy and advocated for an extra budget to support low-income individuals affected by financial hardships due to the conflict, while suggesting limited inflationary pressure from this budget.
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