"Export, domestic demand, exchange rate." Triple...Growth in the 0% range after 20 years

Foreign net sales close to KRW 4 trillion after emergency rule
"Potential growth rate falls to 1.8% from next year and to the 0% range after 20 years"
Lee Chang-yong, "It's time to stimulate the economy on a small scale with finance."

[Anchor]
As domestic demand freezes due to the sudden emergency martial shock and the exchange rate surges, it is inevitable that the economic growth rate will be affected not only this year but also next year.

Amid predictions that the potential growth rate will fall to 1.8% from next year and to 0% in 20 years, voices calling for an urgent economic stimulus through finance are gaining momentum.

Reporter Ryu Hwan-hong reports.

[Reporter]
Since the 4th, after the emergency martial law, foreigners have sold a net 4 trillion won in our stock market.

Stock prices plunged, and the won-dollar exchange rate, which had been on the rise since former U.S. President Trump's victory in the presidential election, surpassed the 1,450-won level following the 1,440-won level.

Consumer sentiment also froze in the wake of the emergency martial law shock, which led to a 3% drop in credit card spending earlier this month from last month, while the Bank of Korea lowered its economic growth forecast for this year to 2.1 percent from 2.2 percent.

Exports, which have been doing well, are also showing signs of slowing down since August, and some predict that the potential growth rate will fall to 1,8% from next year and to 0% in 20 years.

Lee Chang-yong, governor of the Bank of Korea, said, "Now is the time to start small-scale economic stimulus with finances," stressing that politicians should cooperate to ensure that the economy works properly.

[Lee Chang-yong / Governor of the Bank of Korea: Seeing that the ruling and opposition parties agree to deal with important economic policies quickly, I think it's very important to show that the system works separately from the political process. I think it's possible because it's been like that in the past.]

Financial authorities have been struggling to stabilize the financial market, such as announcing 60 trillion won worth of liquidity supply measures, but this is also not good for the shock from the U.S.When the U.S. FOMC

hinted at reducing the number of interest rate cuts to two next year, the Korean stock market plunged and the exchange rate was shocked by the foreign exchange crisis.

The nation's economy is deepening due to the triple whammy of slowing exports, sluggish domestic demand, and high exchange rates, plus political instability and external variables.

I'm YTN's Ryu Hwan Hong.

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video: Eunji Kang