Bank of Korea Governor Lee Chang-yong Meets Opposition Lawmakers, Urges Bipartisan Budget Agreement

On the 10th, Lee Chang-yong, Governor of the Bank of Korea, is giving an opening remark at the emergency economic situation on-site inspection meeting held at the Bank of Korea headquarters in Jung-gu, Seoul. Photo by Heo Young-han

Lee Chang-yong, Governor of the Bank of Korea, reportedly stated that "the ruling and opposition parties should strive to reach an agreement on next year's budget bill."

On the morning of the 10th, Governor Lee met with opposition lawmakers from the National Assembly's Planning and Finance Committee who visited the Bank of Korea and made this request.

Regarding the exchange rate, he reportedly assessed that "it is difficult to return to previous levels for the time being, and it is hard to say that the current exchange rate has stabilized."

On the same day, lawmakers from the three opposition parties?the Democratic Party, the Justice Innovation Party, and the Reform Innovation Party?held an emergency on-site economic situation inspection meeting with Governor Lee and other key executives at the Bank of Korea.

Jung Tae-ho, the Democratic Party lawmaker and secretary of the Planning and Finance Committee, explained, "Due to concerns such as external creditworthiness issues, we visited the Bank of Korea to conduct an on-site inspection and prepare countermeasures." He emphasized, "Since the impeachment was not upheld, anxiety about the Korean economy has continued to intensify, so a prompt response at the National Assembly level is necessary."

He stated, "There were explanations regarding three issues: the foreign exchange market, the financial market, and the real economy, and we had questions about them. From a broad perspective, the current political uncertainty should not be prolonged, as if it continues, it could cause serious damage to our economy."

When asked by reporters whether there were any remarks related to the Bank of Korea's monetary policy, he replied, "I don't think I am the right person to speak about the base interest rate."

This content was produced with the assistance of AI translation services.