Following the release of the South Korean GDP and inflation numbers, the Bank of Korea (BOK) Governor Lee Ju-yeol made some comments on the economic improvement.
Lee said: “Solid economic recovery based on vaccinations.”
Earlier on, South Korean CPI steadied at 2.6% YoY in August while coming in at 0.6% MoM.
Meanwhile, the core CPI rose by 1.3% YoY, reaching the highest levels in nine years.
The country’s GDP expanded by 0.8% QoQ and 0.6% YoY.
Market reaction
Despite the upbeat comments from the BOK Chief and economic data, the South Korean won (KRW) remains heavily offered.
USD/KRW is bouncing off three-week lows of $1,155.14, currently trading at 1,159.41, up 0.34% on the day.