Bank of Korea Governor Lee Joo-yeol expects the South Korean economy to continue expansion at the potential growth rate next year on the back of global trade booms unless it suffers from unexpected risks.

The BOK chief presented the projection on Thursday during a meeting with scholars and chiefs of economic research institutes in Seoul. 

Lee said that the country had extreme economic uncertainties this year with the impeachment of President Park Geun-hye, growing North Korean risks and trade protectionism. 

He said that the economy expanded more than three percent in spite of all the uncertainties, as the country's exports grew at the fastest pace among the world's ten largest exporters. 

He projected that inflation will reach the government's target level of two percent next year. He cited protectionism and rate hikes of major countries as variables.