South Korea financial system face short-term crisis risk as inflation ramps up: poll

One in four experts warned of possible shocks.

South Korea now faces greater chances of shocks that could cause a short-term crisis in the financial system compared to six months earlier, reports Yonhap, based on the semiannual survey released by the Bank of Korea (BOK).

Over one in four of the 80 experts, which the central polled, reportedly said that the possibility of the country experiencing "shocks that could cause a crisis in the financial system" within a year or so remains high or very high.

This is more than double the percentage of experts–around 12.5%–who said the same just six months earlier. 

Despite the rising risks, an overwhelming majority or 96.2% also expected the country's financial system to be stable over the next three years.

Experts cited high inflation as the top risk factor, with 1 in 3 (34.2%) respondents naming it as a concern.