Seoul: Bank of Korea (BOK) Governor Rhee Chang-yong stated on Thursday that the ongoing political scenario, involving the opposition's attempt to impeach President Yoon Suk Yeol, is not expected to impact South Korea's sovereign ratings and economic growth momentum due to the nation's robust market fundamentals. Rhee made these remarks at a press briefing in Seoul, shortly after President Yoon's declaration of martial law, which was subsequently lifted following its rejection by the National Assembly. According to Yonhap News Agency, the Korean won experienced a decline, reaching a two-year low on Wednesday, and the stock market saw significant foreign selling. However, Rhee assured that these market disruptions are temporary and emphasized that the central bank is not planning to revise its growth outlook or monetary policy. He highlighted the separation of political events from economic dynamics, suggesting that the martial law declaration was politically motivated and not economically driven. Rhee furthe r expressed confidence in the stability of the markets, stating that historical precedent suggests the impeachment process is unlikely to cause lasting market shocks. He emphasized that the political situation is not a consideration for the bank's policy decisions, attributing market reactions to psychological factors and underscoring his efforts to communicate with foreign investors and institutions to alleviate concerns. Rhee also pointed out that the swift resolution of the martial law situation demonstrated the maturity of South Korea's democratic processes and adherence to a rules-based order.