Bank of Korea (BOK) Governor Kim Choong-soo hinted on Friday at changing the current monetary policy towards an easier direction although he confirmed that there was no discussion among monetary policymakers about the possible rate cut.

"The rate freeze decision was made unanimously. There was no discussion whether to hike or cut rates. We did not find specific factors to change our rate normalization stance," Kim told reporters after the June rate-setting meeting.

The governor, however, stressed that downside risks to the South Korean economy became increasingly greater, saying that signs of significant changes in several global economic variables were detected. Kim noted that those changes will have a great impact on the Asia's No.4 economy.

The BOK left its 7-day repo rate steady at 3.25 percent for 12 straight months at the June monetary policy meeting due to concerns over Europe's debt crisis and its subsequent slowing exports, which account for around half of the South Korean economy.

Kim said that the South Korean economy was believed to near a long-term growth trend at a gradual pace on the premise that the European crisis will be patched up, but the governor noted that many things has changed such as Dubai crude oil prices that fell below 100 U.S. dollars a barrel and the local currency's depreciation against the greenback that may boost import price rises.

The governor said that the central bank will make decisions on the monetary policy considering all the changes happening in the global economy, adding that next month's policy decision will be made through such processes as always.