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Wed, December 6, 2023 | 10:19
BOK under pressure to cut key rate
The Bank of Korea faces growing pressure to cut its key rate to support the lackluster economy in the first quarter, with China expanding its monetary easing and the U.S. unlikely to raise rates in March, analysts said Friday.
Woo still develops career path
Woo Sang-min, 62, has just added a new challenging job to his 30-year-long career dominated by public positions in other countries. He took office as the first governor of the World Freestyle Football Federation headquartered in Seoul early this month.
Han Young hit for audit violations
Korea’s financial regulators have taken disciplinary measures against Han Young accounting firm for violations in auditing Kyeryong Construction, the Financial Services Commission (FSC) said Thursday.
IBK, Woori may invest Iranian funds into stocks
The Ministry of Strategy and Finance said Wednesday it is considering allowing Iran to invest funds from its won-denominated accounts at Korean banks in Seoul stocks and bonds.
IFEZ eyes $930 mil in 2016 FDI
The Incheon Free Economic Zone (IFEZ) has set a target to attract $930 million in foreign direct investment (FDI) this year by fostering the biotechnology and services industries while tackling pending problems that have been holding the zone back in recent years.
Falling exports casting shadow over economy
Korea’s exports marked the worst slump last month in six-and-a-half years due to slowing growth in China and sluggish demand from global markets, the Ministry of Trade, Industry and Energy said Monday. Exports in January plunged 18.5 percent year-on-year to $36.7 billion, the 13th-straight month of declines and the biggest drop since August 2009 when shipments tumbled 20.9 pe...
Foreigners can open omnibus account
The Financial Services Commission (FSC) said Sunday it will introduce an omnibus account system for foreign investors from next year in a move to get the Korean stock market included in the MSCI’s developed market index. The government has been striving to have the Korea Exchange classified on the MSCI’s World Index as a developed market after the country was excluded from the index review list in 2014 due to the lack of “any significant improvements in key areas negatively affecting accessibility.”
State debt to hit W650 trillion this year
Korea’s sovereign debt is expected to reach 650 trillion won ($540 billion) by December because of increased government spending to stimulate spending, government figures showed Sunday.
COEX opens Muslim prayer rooms
The Korea International Trade Association (KITA) said Thursday it has opened a Muslim prayer room at COEX Exhibition & Convention Center in southern Seoul, a move to promote exchanges and trade with Muslim-majority countries.
Viagra tops counterfeit goods in past 3 years
Viagra, a prescription drug for erectile dysfunction, topped the list of counterfeit goods in terms of value over the past three years, the Korea Customs Service (KCS) said Thursday.
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