The U.S. Federal Reserve's tapering of its quantitative easing and China's economic slowdown were picked among market experts as major systemic risks to the South Korean economy, central bank survey showed Tuesday. Reduction in the U.S. monetary stimulus was selected as the most probable and influential systemic risk to the South Korean economy, according to 90 experts in financial institutions at home and abroad polled by the Bank of Korea (BOK). The systemic risk refers to a crisis under which fluctuations in the financial system, including stocks and currencies, have a significant influence on the real economy as seen in the 1997 foreign exchange crisis in Asia. The Fed's tapering was seen as a short-term risk that will have an influence on the South Korean economy within a year. Economic slowdown in China was seen as a mid-term risk that could happen between one and three years. Experts said the risk from China had the low probability to happen, but noted that if it occurs, it will have a big influence on the South Korean economy. Massive household debts, financial turmoil in emerging economies and corporate credit risks were also picked as major systemic risks facing the South Korean economy, the survey showed.