South Korean central bank chief Rhee Chang-yong spoke at his first international press conference of the year on Tuesday, giving several insights about the state of the world and the ROK economy and prospects for the future. 

During the event, Rhee provided an overall positive outlook for the South Korean economy in 2023. Low loan delinquency rates, high bank capital ratios and a strong asset base mean the chances of a general financial crisis are low.

But he also underlined the risks of a sectoral shock within South Korea’s real estate sector, making clear that the BOK is watching closely