South Korea's new central bank governor Rhee Chang-yong said on Thursday, "Inflationary pressure is growing and at the same time, growth is expected to be weaker than previously seen.”                      

"The trade-off between growth and inflation is adding constraints to monetary policy, and it is time for a fine balance between the two," Rhee added.

Market reaction

USD/KRW was last seen up 0.31% on the day, near-daily highs of 1,238.01.