South Korea’s central bank, the Bank of Korea (BOK), has commissioned a research project to evaluate the effectiveness of its recently implemented “dot plot” – a communication tool known as “dot plot effect.” Introduced in February, the dot plot aims to provide forward guidance on future monetary policy. The BOK is meticulously examining the impact of this tool, assessing its effects on financial markets down to the second. This review distinguishes the BOK’s approach from that of the U.S. Federal Reserve, suggesting a different methodology for analyzing and utilizing forward guidance. The research will likely focus on how market participants interpret and react to the signals conveyed through the dot plot. The findings will inform future adjustments to the BOK’s communication strategy regarding interest rates and monetary policy.