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Wed, October 20, 2021 | 18:45
BOK preempts markets with rate hike
The Bank of Korea (BOK) raised its base interest rate by 0.25 percentage points to 2.25 percent Friday, ending its 16-month-long adherence to a record-low level of 2 percent.
Seoul unveils G20 summits symbol
Seoul selected an image of a traditional shaded lantern as the symbol of the G20 summit to be held here in November.
Korean currency 3rd most volatile
The Korean won was one of the most vulnerable currencies to external shocks, with the currency ranking third among the 32 major currencies in terms of volatility during the financial crisis.
IMF advises BOK to raise interest rate
The International Monetary Fund (IMF) said Tuesday that the Korea’s central bank should raise its key interest rate in line with its economic recovery.
Minister Yoon likely to keep his post until G-20 meeting
Strategy and Finance Minister Yoon Jeung-hyun is likely to be unaffected by an expected Cabinet reshuffle brought about by the National Assembly voting down a revision plan to the Sejong City development project.
Seoul won’t push for bank levy scheme
The government will not push for a new bank levy before other countries despite its effectiveness in preventing a financial crisis, officials said Monday, raising speculation that Seoul will not seek to take the lead in tabling this move at the G-20 Seoul summit.
Analysts set KOSPI target as high as 1,950
The Korean stock market has performed relatively well in the first half compared to most advanced markets, but the second half will see more volatility that before, analysts forecast.
Minister urges reform in economic structure
Strategy and Finance Minister Yoon Jeung-hyun said Friday that the Korean economy should foster its services industry to create more jobs, and depend less on the exports of manufactured goods by large firms.
National pension bets on bull stock market
In defiance of fears of a double-dip recession, South Korea’s national pension fund has announced that it will increase its investment in stocks, real estate and other risky assets next year.
[KoreaToday] LG Whisen offers human touch
Care for people, and care for the environment. This summer, LG Electronics is introducing the latest version of its "Whisen" air conditioner. It features automatic sensors that monitor movement and the skin temperature of people in the room, and accordingly controls wind power and direction. In addition, its innovation in energy saving technology will save on electricity bills for its owners and reduce carbon emissions for the environment.
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