The economy of South Korea is expected to slowly crawl in the third quarter. Faltering exports and rising interest rates knocked the wind out of what had been a strong run. The median projection of 22 economists polled between October 20-24 was 2.8% annual growth. The economy of South Korea is expected to slowly crawl … Read more
The Bank of Korea raised its policy rate by 50 basis points to 2.25%. It is the biggest increase since the bank adopted the current policy system in 1999. The decision could help curb further weakening of the won. After the currency tumbled 9.4% against the US dollar this year. South Korea’s central bank on … Read more
SEOUL – South Korean banks’ household lending marked the first fall in seven months in December due to the lower housing transactions and the higher lending rate, central bank data showed Thursday. Household loan, extended by banks, came in at 1,060.7 trillion won (892.3 billion U.S. dollars) at the end of December, down 0.2 trillion … Read more
