President Lee Jae Myung (right) on Oct. 29 shakes hands with U.S. President Donald Trump at their bilateral summit in Gyeongju, Gyeongsangbuk-do Province. (Office of the President)

By Koh Hyunjeong

The public's economic sentiment has risen to its highest level in four years and three months.

The Bank of Korea (BOK) on Nov. 4 said the news sentiment index hit 124.62 on Oct. 31, the highest since 125.25 on July 29, 2021.

The NSI quantifies economic sentiment as presented in news articles on the economy. A figure above 100 indicates a feeling more optimistic than the long-term average.

The recent surge in the index appears to factor in the effects of the Asia-Pacific Economic Cooperation forum in Gyeongju, Gyeongsangbuk-do Province, and the conclusion of bilateral tariff negotiations with the U.S.

The index went from 118.36 on Oct. 28, the day before the bilateral summit with the U.S., to 121.2 on Oct. 29, 124.05 on Oct. 30 and 124.62 on Oct. 31.

BOK Gov. Rhee Chang-yong on Oct. 29 at the National Assembly's audit of the administration called the outcome of the tariff negotiations "very successful."

hjkoh@korea.kr