Bank of Korea(BOK) Governor Lee Ju-yeol said Thursday that there is growing concern of a slowdown in the global economy this year and the nation is facing a challenging environment. 

During an event held at a Seoul hotel to share New Year's greetings, the central bank chief called on the domestic finance sector to exert particular efforts on risk management. 

He said there is speculation that overseas risk factors which threatened the South Korean economy last year will continue this year as well, citing the U.S.-China trade war, the U.S. Federal Reserve's rate hike and financial insecurities in emerging markets. 

Lee said internal vulnerabilities of the nation’s economy can be exposed during times of difficult external conditions and make the situation worse, calling for efforts to double-check the vulnerable areas of the financial system and improve its soundness and resilience.