Bank of Korea(BOK) Gov. Rhee Chang-yong says future rate cuts could be more extensive than before. 

Rhee conveyed the information Thursday after the BOK announced its decision to lower the benchmark rate by a quarter percentage point to two-point-five percent. 

The BOK chief said economic growth has weakened more significantly than expected.

Rhee said the central bank will decide the pace and scale of any additional rate cuts while monitoring economic data, considering both upside and downside risks, as well as financial market risks.