Seoul: The South Korean central bank said Thursday that the country's trade deal with the United States is expected to ease uncertainties, while calling for close monitoring of the impact of changing global trade conditions on the domestic economy and financial markets.
According to Yonhap News Agency, Bank of Korea (BOK) Deputy Gov. Ryoo Sang-dai made the remarks during a meeting to review market conditions, which was held after the two nations announced a bilateral agreement that set a 15 percent tariff on South Korea, against the initially expected 25 percent.
"The trade agreement, which sets tariffs at a level similar to those of other major economies, is expected to reduce related uncertainties," Ryoo said.
"As trade negotiations among major economies, including the U.S. and China, are still under way, we will continue to closely monitor how changes in global trade conditions affect various sectors of our economy, as well as the financial and foreign exchange markets," he added.