Governor of the Bank of Korea: Continued appreciation of the Korean won benefits the economy and tight monetary policy will be maintained

⑴ Bank of Korea Governor Rhee Chang-yong stated that further appreciation of the Korean won is beneficial for the domestic economy; since the shift to tighter monetary policy, the won has risen significantly, boosting household purchasing power. ⑵ During the IMF and World Bank annual meetings in Bangkok, Rhee Chang-yong indicated that restrictive monetary policy will be maintained until confirmation that inflation can return to the target range as expected. ⑶ The strengthening of the won helps shift economic growth towards domestic demand and narrows the K-shaped development gap; currently, inflation, exchange rates, and financial stability all point to the same policy direction, making policy trade-offs less difficult than usual.