Bank of Korea(BOK) Gov. Rhee Chang-yong has said the foreign exchange market took the biggest hit when looking at early economic impacts from the December 3 martial law incident. 

Rhee made the statement Tuesday before a special parliamentary committee formed to investigate treason allegations surrounding President Yoon Suk Yeol’s martial law move. 

The governor said though it’s still too early to determine the exact severity of its impact on the nation’s economy, given that related analyses are still underway, the undeniable truth is that it has caused serious damage. 

Of the roughly 70 won depreciation in the won against the U.S. dollar, Rhee attributed some 30 won to the martial law incident. 

Recalling that the central bank marked down the nation’s economic growth outlook by zero-point-three percentage point in mid-January from its November forecast, Rhee said half the reason for that is likely a drop in consumption resulting from Yoon’s martial law bid.