The Bank of Korea's Monetary Policy Committee has loosened the reins on interest rate cuts and has begun to slow down the pace. The need for a rate cut has grown due to the risk of economic slowdown caused by the United States' aggressive tariff policy, but the sharp fluctuations in the won-dollar e...
The supplementary budget of 12 trillion won is expected to have the effect of raising the economic growth rate by 0.1 percentage point (p). Bank of Korea Governor Lee Chang-yong said this during a press briefing held at the Bank of Korea headquarters in Jung-gu, Seoul, immediately after the Monetary...
On the 17th, the Monetary Policy Committee of the Bank of Korea held the base rate steady at 2.75%. In the previous committee meeting in February, it lowered the rate by 0.25 percentage points, but this time it is taking a breather. The base rate peaked at 3.50% in January 2023, the highest in 15 ye...
Lee Chang-yong, Governor of the Bank of Korea, maintained a stern expression before the first Monetary Policy Committee of the Bank of Korea for the second quarter on 17th. The uncertainty of U.S. President Donald Trump's tariff policy makes it unclear where the exchange rate of the won against the ...
Acting President Han Duck-soo, who is also the Prime Minister, visited the HD Hyundai Heavy Industries factory in Ulsan on the 16th. This move is interpreted as an effort to understand the state of the shipbuilding industry amidst commercial negotiations with the Donald Trump administration, where c...
Jeong In-kyo, the Deputy Minister of Trade, Industry and Energy, noted that measures to support the semiconductor sector are being prepared in response to the tariffs imposed by the United States. On the 16th, Deputy Minister Jeong stated at the '2025 1st Trade Policy Advisory Committee' held at the...
The trade negotiations between South Korea and the United States will proceed through a financial, industrial, and trade 'three-track' approach. Deputy Minister Jeong In-kyo of the Ministry of Trade, Industry and Energy met with reporters after the advisory committee on trade policy meeting held at ...
On the 15th, the international credit rating agency Standard and Poor's (S&P) maintained South Korea's sovereign credit rating at 'AA.' S&P has given the same rating for the ninth consecutive year since raising South Korea's sovereign credit rating from 'AA-' to 'AA' in August 2016. The outlook for ...
Former Acting President Han Duck-soo visited the Kia AutoLand Gwangju plant on the 15th and said, “I will significantly expand the budget for research and development in the automotive industry.” Former Acting President Han noted, “We will actively support securing technological competitiveness thro...
As the regulatory sandbox is operated differently by each government ministry, the government announced standard guidelines. The regulatory sandbox is a system that temporarily suspends regulatory applications for products and services utilizing new technologies, and is currently being operated by s...
