Bank of Korea Governor "Provided to be below 0.2%p in Q4 last year due to martial law"

Bank of Korea Governor Lee Chang-yong said in a press conference shortly after today's Monetary Policy Committee meeting that economic growth is likely to fall below 0.2% in the fourth quarter of last year due to the martial law.

Lee said it is still difficult to determine how political uncertainty affects them, adding that the impact will change depending on how long the conflict lasts.

He then explained that how the growth rate will change after the first quarter of this year is very uncertain depending on how the government will use fiscal policy and whether the Constitutional Court will normalize once the president's arrest warrant is over.

Last year, economic growth was 1.3 percent in the first quarter, -0.2 percent in the second quarter, and 0.1 percent in the third quarter.