Key facts
- South Korean Finance Minister Lee Hyoung-il met with Bank of Korea Governor Shin Hyun-song on Sept. 28, 2026.
- The meeting focused on strengthening coordination to address economic uncertainties.
- Both officials agreed that South Korea's economic growth is gaining momentum.
- They acknowledged persistent pressure on livelihoods due to external factors like interest rate hikes and geopolitical risks.
- The BOK's monetary policy is expected to help stabilize the exchange rate and ease cost pressures.
- Closer cooperation is needed to address interconnected financial, foreign exchange, and property markets.
South Korean Finance Minister Lee Hyoung-il met with Bank of Korea Governor Shin Hyun-song on September 28, 2026, to discuss ways to enhance coordination in navigating economic uncertainties. This meeting marked Lee's first visit to the central bank since assuming office last week.
During their talks, the two policymakers noted that South Korea's economic growth is strengthening, supported by robust export and investment indicators, particularly within the context of a semiconductor supercycle. However, they also acknowledged the ongoing challenges faced by citizens due to increased external uncertainties, including rising interest rates in major economies and geopolitical risks.
Governor Shin stated that the Bank of Korea's recent monetary policy actions are anticipated to curb demand-side inflationary pressures and boost confidence in the South Korean economy. He added that these measures are expected to help stabilize the exchange rate, alleviate cost pressures, and ultimately strengthen the nation's economic fundamentals. Shin emphasized that the BOK's commitment to macroeconomic stability, combined with the government's efforts to expand economic growth potential, would be crucial for fostering sustainable growth.