Governor of the Bank of Korea: “Sustainability of fiscal policy is important… I will raise my voice”

Bank of Korea Governor Shin Hyun-song said on the 12th, “Sustainability is absolutely important in fiscal policy.”

At the National Assembly's Finance and Economic Planning Committee audit held at the Bank of Korea in Jung-gu, Seoul this morning, Governor Shin responded as follows to a question from Rep. Park Soo-young of the People's Power Party, who said, "It is regrettable that the Bank of Korea seems to be busy looking after the government."

Governor Shin emphasized, “We will always continue to voice our opinions so that monetary and fiscal policies are operated harmoniously,” and “We will continue to voice our voices regarding sustainability.”

Meanwhile, Governor Shin expressed sympathy with the question of Representative Kim Nam-joon of the Democratic Party of Korea, who said, 'The proportion of artificial intelligence (AI) subscription fees must be separately calculated and the factors leading to household price increases must be analyzed.'

President Shin said, “It is still difficult for us to access information to obtain detailed statistics on AI subscription fees,” and added, “We will continue to make efforts.”

However, he added, “The service balance is very small compared to the goods balance,” and “This year’s current account balance is expected to have a surplus of $450 billion.”