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BOK Chief Sees Prolonged Volatility in FX Market Aid Domestic, Global Uncertainties

BOK Chief Sees Prolonged Volatility in FX Market Aid Domestic, Global Uncertainties

SEOUL, May 6 (Korea Bizwire) — Volatility in the foreign exchange (FX) market will likely persist for some time amid uncertainties in the global economy and domestic politics, South Korea’s top central banker said Tuesday, while reiterating the need for monetary easing to boost the local economy. “It is still too early to say whether [...]

BOK Chief Calls for Reform of College Admission System to Nurture Talent

BOK Chief Calls for Reform of College Admission System to Nurture Talent

SEOUL, March 21 (Korea Bizwire) — Bank of Korea (BOK) Gov. Rhee Chang-yong on Friday called for reforming South Korea’s college entrance system in order to nurture talents capable of leading innovations. Rhee made the point during the opening ceremony of a research institute on population and talent issues at Yonsei University in Seoul. “Leading [...]

Weak Growth, Easing Inflation Lead to BOK’s Policy Pivot despite Household Debt Woes

Weak Growth, Easing Inflation Lead to BOK’s Policy Pivot despite Household Debt Woes

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 [...]

Debit Card Spending Jumps Thanks to Tax Benefits and Rewards

Debit Card Spending Jumps Thanks to Tax Benefits and Rewards

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 [...]