SEOUL, Oct. 11 (Korea Bizwire) — The Bank of Korea (BOK)’s first interest rate cut in 38 months highlighted the urgent need for South Korea to ease interest burdens on households and businesses to prop up sagging domestic demand despite concerns over rising home prices and household debts, experts said Friday. The BOK lowered its [...]
SEOUL, July 7 (Korea Bizwire) – The government borrowed over 91 trillion won (US$65.8 billion) from the Bank of Korea (BOK) in temporary loans in the first half of the year to fill its fiscal shortfall, data showed Sunday. According to the BOK data submitted to Rep. Yang Boo-nam of the main opposition Democratic Party, [...]
SEOUL, May 16 (Korea Bizwire) — Samsung Electronics Co. and the Bank of Korea (BOK) on Monday signed an agreement to advance technology related to the offline central bank digital currency (CBDC) currently under development. In the previous year, Samsung participated in the central bank’s second phase of the CBDC mock test research. As a [...]
SEOUL, Jan. 24 (Korea Bizwire) — The Bank of Korea (BOK) again cut its growth forecast for the 2019 economy to 2.6 percent Thursday, following a 0.1 percentage point slash in October, in a clear sign of gloomy growth prospects going forward. The number is 0.3 percentage point lower than the central bank’s original forecast [...]
SEOUL, March 8 (Korea Bizwire) — South Korean consumers are increasingly pulling out their debit cards to make purchases, thanks in part to the income tax deductions their use engenders and attractive loyalty programs, new data from the Bank of Korea (BOK) has revealed. According to the report released by the BOK on Tuesday, spending on [...]
SEOUL, Jan. 2 (Korea Bizwire) – A hike in the base rate by the South Korean central bank is expected to increase funding costs of local businesses, a report said Tuesday, amid the recent trend of monetary normalization. According to the report published by the Korea Institute of Finance (KIF), if the Bank of Korea [...]
SEOUL, June 26 (Korea Bizwire) – The housing market in Seoul and its adjacent areas are in an expansion phase, South Korea’s central bank said Monday, a move that has prompted the government to crack down on speculative real estate investments. The Bank of Korea (BOK) said in a report that the housing prices in [...]
SEOUL, May 31 (Korea Bizwire) – South Korea’s central bank should maintain the current monetary easing policy to support growth, a member of the Bank of Korea’s (BOK) monetary policy board said Wednesday. Koh Seung-beom made the case during a luncheon meeting with reporters at the BOK headquarters in central Seoul, noting the recovery [...]
SEOUL, May 15 (Korea Bizwire) – South Korea’s household loans extended by banks rose 9.8 percent in April from a year earlier due to increased mortgages, central bank data showed Monday. Outstanding household loans from lenders came to 718.6 trillion won (US$637 billion) as of end-April, compared with 654.3 trillion won from a year earlier, according [...]
SEOUL, April 12 (Korea Bizwire) – South Korea’s household loans extended by local banks rose 10 percent in March from a year earlier due to increased mortgages, central bank data showed Wednesday. Outstanding household loans from local lenders came to 713.9 trillion won (US$621 billion) as of end-March, compared with 649 trillion won from a [...]