Lee Chang-yong, BOK Governor: "Yoon Emergency Martial Law Video, I Thought It Was Deepfake"

Interview with The Economist UK

Lee Chang-yong, Governor of the Bank of Korea, is leaving the Bankers' Hall in Myeong-dong, Seoul, after attending the Macroeconomic and Financial Issues Meeting held on the 9th, while answering questions from reporters. Photo by Heo Young-han

Lee Chang-yong, Governor of the Bank of Korea, revealed on the night of the 3rd that upon seeing President Yoon Suk-yeol's declaration of martial law, he initially thought the video was a deepfake and believed the broadcasting station had been hacked.

Governor Lee made these remarks in an interview with the British current affairs weekly, The Economist, on the 12th (local time).

He emphasized that "there is a mechanism through which economic issues are handled independently of political issues," and that the impact of the recent martial law declaration on the economy would not be significant.

Earlier, in an interview with another foreign media outlet, Governor Lee had stated, "Considering South Korea's strong market fundamentals and mature democracy, I believe politics and the economy can be separated."

The Economist analyzed that although the financial market turmoil in South Korea caused by this martial law incident was short-lived, prolonged political uncertainty could make it difficult to resolve long-term economic issues.