The buliding of Bank of Korea is seen in Seoul, South Korea, July 14, 2016. REUTERS/Kim Hong-Ji

SEOUL (Reuters) -Most board members of South Korea's central bank expressed caution about further policy easing as they kept interest rates unchanged at their last meeting on October 23, minutes of the meeting showed on Tuesday.

The Bank of Korea voted 6-1 to keep its benchmark interest rate unchanged at 2.50% last month amid worries about an overheated housing market and a weak won, though four members left the door open for a rate cut in the next three months.

"Close attention should be paid to housing market developments following the government's additional measures," one member said, referring to policy measures announced in mid-October to curb sharp rises in home prices and household debt.

"Given that the recent increase in exchange rate volatility stemmed from domestic factors, greater emphasis on foreign exchange stability is required in devising monetary policy," the member added.

Most members agreed at the meeting the board should maintain an accommodative policy stance to support growth but risk factors needed to be assessed thoroughly and the pace adjusted flexibly.

Asia's fourth-largest economy grew in the third quarter by the fastest pace in a year-and-a-half, beating market expectations, helped by strong exports and government stimulus to boost spending.

The won has been weakening for a third straight month in November and hit on Tuesday its lowest level since early April amid concerns over a large investment package included in a trade deal with the U.S.

"Going forward, policy decisions should be made based on a thorough assessment of developments in key risk factors, as well as on the potential benefits and side effects of further easing," one member noted.

Meanwhile, board member Shin Sung-hwan, known as a dove, argued that it was desirable to implement a rate cut at the earliest possible opportunity.

Shin, who was the sole dissenter at the meeting, said it had already been "significantly delayed", though he also acknowledged policy operations had been complicated by financial risk factors.

The BOK will hold its last policy meeting for the year on November 27.

(Reporting by Jihoon LeeEditing by Ed Davies)