News list for "korea"
Bank of Korea official: According to the (US) court ruling, the effective US tariff rate on South Korea will be reduced from 13.3% to 9.7%.
The Bank of Korea will maintain its interest rate cut stance to mitigate downside risks to economic growth.
Bank of Korea Governor Rhee Chang-yong: In view of the downside risks to the economy, there is still more room for further interest rate cuts in the future, and decided to reduce the borrowing cost of special loans from the Bank of Korea. (Kim Ten)
The Bank of Korea cut interest rates by 25 basis points, reducing the base rate from 2.75% to 2.50%, in line with market expectations. (Jin Ten)
Bank of Korea’s deputy governor warned the rising stablecoin use could undermine monetary sovereignty and financial stability.
The Bank of Korea is widely expected to cut its policy rate next week. All 12 economists surveyed by the Wall Street Journal predicted that the Bank of Korea would cut interest rates by 0.25 percentage points to 2.50 per cent at its meeting next Thursday. The expected rate cut will end the hold-up in the current policy easing cycle, at which the Bank of Korea is expected to raise its 2025 GDP growth forecast.
The Democratic Party of Korea (DPK) said it is currently working on a cryptocurrency policy agenda and will announce details later. The DPK revealed the news during a press conference to introduce 10 policy initiatives for the upcoming presidential election. Democratic presidential candidate Lee Jae-myung has previously promised to promote the listing of spot crypto ETFs and reduce digital asset trading fees.
Five South Korean cryptocurrency exchanges, Upbit, Bithumb, Coinone, Korbit, and Gopax, have announced their intention to delist Wemade's blockchain platform coin, WEMIX, on June 2, with token withdrawals to terminate on July 2. It is reported that the decision regarding the specific token was made through the Korean Digital Asset Exchange Association DAXA, whose members include these five platforms. DAXA believes that the Wemix Foundation has not adequately addressed the issues that led to the ...
According to Yonhap News Agency, Bank of Korea Governor Rhee Chang-yong said that while monetary policy remains cautious, the Bank of Korea's key interest rate will be lower due to stable inflation. Yonhap quoted Rhee as telling reporters at the annual meeting of the international monetary fund (IMF) in Washington that the timing and speed of the easing cycle does not mean that interest rates will not be lowered. He also said that after the contraction of the economy in Quarter 1, the Bank of Ko...
South Korea's main right-wing People's Power Party (PPP) officially announced on Friday that it will push a new bill aimed at boosting the development of the local crypto asset industry. According to local news agency Newsis, former ruling party policy chief Kim Sang-hoon said at a conference that the country needs to end the "era of uncertainty and regulation" and usher in the era of digital asset promotion. According to reports, Kim Sang-hoon said: "Due to the government's anti-money launderin...
The Bank of Korea said it will actively participate in the development of stablecoin regulations to guard against latent risks to monetary and financial stability. South Korea is working on the second part of cryptocurrency legislation, which will focus on transparency requirements for stablecoins and crypto services. The Bank of Korea said in a payment system report on Monday: "Unlike general virtual assets, stablecoins themselves have a payer...
South Korea will not fight back against US tariffs, acting president Han Duk-soo said on April 20, according to the Financial Times. South Korea has historical debts and is willing to remove trade barriers ahead of talks with Washington.
Han Duk-soo, South Korea's acting president, said his country, which has historical debts and is willing to remove trade barriers ahead of talks with Washington, would not push back against US tariffs, according to the Financial Times.
Bank of Korea: South Korea's economic growth is expected to be lower than expected, and it will continue to implement an accommodative monetary policy stance. (Kim Ten)
The Bank of Korea left interest rates unchanged at 2.75 percent, in line with expectations.
