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S. Korean economy seems to be slowing down: BOK chief

All Headlines 10:10 March 25, 2019

SEOUL, March 25 (Yonhap) -- South Korea's central bank chief said Monday that Asia's fourth-largest economy seems to losing steam amid signs of a global economic downturn.

"The South Korean economy saw its growth pace fall due to sluggish exports," Bank of Korea (BOK) Gov. Lee Ju-yeol said in a parliamentary session. "Uncertainties stemming from external downside risks are also high and affecting the country's growth."

Exports, the country's key economic driver, have been on a decline since December last year, and the general slowdown in global trade, coupled with persistent trade tensions between the United States and China, is also throwing cold over South Korea's export-oriented economy.

Moreover, in New York, investor sentiment has dampened on a gloomier outlook for the world's largest economy due to a reversal of bond yield curves.

Gov. Lee said rising economic concerns sparked volatility in the global financial market, which may have an impact on the local financial market.

"In the future, monetary policy will be accommodative as a way to support economic growth," the banker said.

S. Korean economy seems to be slowing down: BOK chief - 1

brk@yna.co.kr
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