Finance Minister and BOK Chief Stress Coordination to Address Economic Uncertainties

On September 28, 2026, South Korea's newly appointed Finance Minister Lee Hyoung-il met with Bank of Korea (BOK) Governor Shin Hyun-song to discuss the necessity of enhanced coordination in addressing economic uncertainties. This meeting marked Lee's first visit to the BOK since taking office last week.

During the 40-minute discussion, both officials acknowledged the positive momentum in South Korea's economic growth, driven by robust exports and investments, particularly within the semiconductor sector. However, they also recognized the ongoing challenges posed by external factors such as interest rate hikes in major economies and geopolitical tensions.

Minister Lee highlighted the BOK as a crucial partner in efforts to stabilize the economy and expressed hopes for collaborative initiatives, including the internationalization of the Korean won and advancements in digital finance. He stressed the importance of sharing the benefits of economic growth more broadly.

Governor Shin emphasized that the BOK's recent monetary policy measures aim to mitigate inflationary pressures and bolster confidence in the economy. Both leaders agreed on the increasing interconnection between financial markets and the need for proactive measures to manage potential risks effectively.