Bank of Korea governor Lee Ju-yeol said that the central bank is facing new challenges in a low-growth, low-inflation environment.

Lee held a staff meeting at the BOK headquarters on Monday and talked about the direction for the bank's mid to-long term reform efforts. 

He said the central bank needs to set interest rates in an environment of low economic growth and low inflation and advanced technology in areas of artificial intelligence, big data and blockchain.

The governor called for preemptive measures to proactively prepare for these changes in order not to lose public trust.

The bank plans to announce a policy road map called Strategy 2030, containing reform measures, to mark its 70th founding anniversary in June 2020.