Bank of Korea Governor Lee Ju-yeol says he cannot rule out the possibility of Washington designating South Korea as a currency manipulator, but he's promising measures to stabilize the market if it happens.

Lee told reporters Thursday it's not likely Korea will receive that designation based on U.S. statements at a recent Group of 20 meeting of central bankers.

Still, he said Seoul is prepared to work toward lifting the possible designation through bilateral talks while counteracting any short-term rise in market volatility. 

Washington is expected to unveil the list next month.