DIRS.INFO The most relevant business & tech news

☆ Asia markets set to open mixed after Wall Street rally stalls; Bank of Korea rate decision in focus
▼ + stars: | 2024-11-28 | by ( Anniek Bao | ) www.cnbc.com time to read: +1 min

A general view of the Lotte tower amid the the Seoul city skyline and Han river during sunset. Asia-Pacific markets were poised to open mixed after Wall Street rally stalled overnight even as inflation data came in line with expectations. The U.S. personal consumption expenditure price index, or PCE, rose 2.3% on an annualized basis, accelerating from 2.1% in September. The Bank of Korea is expected to hold its benchmark rate unchanged at 3.25% when its monetary policy committee meets later in the day, according to a Reuters poll of economists. Hong Kong's Hang Seng index futures were at 19,618, higher than the HSI's last close of 19,603.13.

Organizations: Wall, Reuters, Bank of, Nikkei Locations: Seoul, Asia, Pacific, Bank of Korea, Chicago, Osaka

☆ South Korea unexpectedly cuts rates by 25 basis points — first back-to-back cuts since 2009
▼ + stars: | 2024-11-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A pedestrian walks past signage for the Bank of Korea in Seoul, South Korea, on Monday, Nov. 22, 2021. South Korea on Thursday cut its benchmark interest rate by 25 basis points to 3% in a surprise move, as the country strives to boost its economy that has seen tepid growth. Economists polled by Reuters had estimated the bank to hold rates at 3.25%. This also marked the first time the BOK has enacted two back-to-back cuts since 2009. It had cut rates by 25 bps in its last meeting in October.

Persons: BOK Organizations: Bank of, Reuters, bps Locations: Bank of Korea, Seoul, South Korea

☆ South Korea convicts man over binge eating to dodge military draft
▼ + stars: | 2024-11-26 | by ( Jessie Yeung | ) edition.cnn.com time to read: +3 min

Seoul, South Korea CNN —A South Korean man who ate to the point of obesity in an attempt to dodge the army has avoided prison after he pledged to take up his mandatory military service. The man, whose age was not revealed by the court, has since “expressed his intention to fulfill his military duty sincerely,” the ruling said. Women are exempt from compulsory conscription, and volunteer females account for only 3.6% of the Korean military, according to the Defense Ministry. In a 2018 survey, 72% of Korean men in their 20s said they thought the draft was a form of gender discrimination, and almost 65% believed women should also be conscripted. Nearly 83% said it was better to dodge military service if possible, and 68% believed it was a waste of time.

Persons: “ Organizations: South Korea CNN, country’s, Amnesty International, Constitutional, Korean, Defense Ministry, ” Locations: Seoul, South Korea, Korean

Two of Choe’s dishes they love the most are kimchi mashed potatoes and her kimchi mac and cheese. Seasoned broccoli saladNamul Sesame Broccoli Salad. For Thanksgiving, Choe said the salad’s light flavors can go with any dish. Smoky gochujang chicken saladCold Gochujang Chicken Salad. Choe said this smoky gochujang chicken salad will take care of your leftovers.

Persons: Caroline Choe, ”, Badiozamani, Choe, Choe’s, ” Choe, “ Organizations: New, Korean, U.S Locations: Korean American, New York City, United States, New England

This resolution abandoned that necessity, and for that reason, the United States could not support it. Fourteen Security Council members voted for the resolution, while only the United States voted against it. “It is a sad day for the Security Council, for the United Nations and for the international community,” said Algeria’s ambassador, Amar Bendjama. Although Security Council resolutions are considered to be international law, the Council has no means of enforcing resolutions. That month, the United States abstained from voting on a resolution that called for a temporary halt to the fighting for the month of Ramadan.

Persons: ”, Robert A ., Amar Bendjama, Carolyn Rodrigues, Birkett Organizations: United Nations Security, United, Council, Hamas, United Nations, UNRWA, Security Council, Security, Israel Locations: States, Israel, Gaza, United States, United, Washington, American, Algeria, Ecuador, Guyana, Japan, Malta, Mozambique, Republic of Korea, Sierra Leone, Slovenia, Switzerland, “, ”, Ukraine, Britain, France, Russia, China

☆ HSBC names 3 'underappreciated' Asian stocks to watch in 2025 — giving one 63% upside potential
▼ + stars: | 2024-11-21 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

Meituan HSBC is bullish on Meituan and has a target price of 220 Hong Kong dollars ($28.30) on the stock, giving it 25.8% upside potential. "Despite the macro challenges, Meituan's growth profile remains resilient," said Charlene Liu, HSBC Global Research's head of internet and gaming research for Asia-Pacific. Calling it a "best-in-class small-cap" idea, HSBC Global Research's India health-care analyst Damayanti Kerai believes it is "well positioned to sustain healthy growth." Kia's shares have been on an uptrend, gaining around 8% in the last five days. HSBC has a target price of 160,000 Korean Won ($114.80) on the stock, implying nearly 63.1% upside potential.

Persons: Charlene Liu, Liu, Damayanti Kerai, Kerai, Will Cho, Cho, — CNBC's Michael Bloom Organizations: HSBC, Hong, HSBC Global Research's, Morningstar, Hong Kong Exchange, Krishna, Medical Sciences, Bombay Stock Exchanges, Kia, Korea Exchange, Won Locations: Asia, Hong Kong, U.S, HSBC Global Research's India, Korean, HSBC Global Research's Korea, EU

☆ Andy Kim ushers in a 'new era' as he becomes 1st Asian American N.J. senator
▼ + stars: | 2024-11-06 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +3 min

The win makes Kim the state’s first Asian American senator. In the state’s second-most-populous county, Middlesex, for example, eligible Asian American voters make up almost 38% of the electorate. He is now set to be the first Korean American U.S. senator and has said his win would be a chance to listen to Asian American voters, who have often felt excluded from American politics. However, not everyone has been receptive to an Asian American like him representing the state. As he looks to start his first term as a senator, Kim said he hopes Asian Americans will take the leap into public service.

Persons: Andy Kim, Republican Curtis Bashaw, Sen, Bob Menendez, Kim, “, —, ”, I’m, ” Kim, It’s Organizations: NBC, Democratic, New Jersey’s, Senate, Republican, Many New, Many New Jersey voters, Middlesex, Korean, Korean American U.S, “, New, Congressional Locations: New Jersey’s U.S, Many, Many New Jersey, New Jersey, Bergen County, South Jersey, Korean American, Asian American, U.S

☆ North Korea launches a new intercontinental ballistic missile designed to threaten U.S.
▼ + stars: | 2024-10-31 | by ( ) www.cnbc.com time to read: +5 min

DPRK stands for the Democratic People's Republic of Korea, North Korea's official name. South Korea's Joint Chiefs of Staff said North Korea could have tested a new, solid-fueled long-range ballistic missile. He said the North Korean missile was launched on a high angle, apparently to avoid neighboring countries. They say North Korea likely possesses short-range missiles that can deliver nuclear strikes across all of South Korea. North Korea last test-fired an intercontinental ballistic missile in December 2023, when it launched the solid-fueled Hwasong-18.

Persons: Jung Yeon, Kim Jong Un, Kim, Lee Sung Joon, Gen Nakatani, Lee, KCNA, Sean Savett, Savett Organizations: Korean, Getty, North, Defense Ministry, DPRK, North Korean Defense Ministry, Democratic People's, Korea's, Chiefs, Staff, North Korean, Japanese, South Korean, . National Security, South, U.S Locations: Seoul, Korea, U.S, United States, South Korea, Japan, Washington, Ukraine, North Korea, Democratic People's Republic of Korea, North, American

☆ North Korea likely to ask for nuclear technology from Russia in exchange for troops, South Korea says
▼ + stars: | 2024-10-30 | by ( Natasha Bertrand | ) edition.cnn.com time to read: +4 min

North Korea will likely request Russian technology transfers relating to tactical nuclear weapons, the advancement of North Korean intercontinental ballistic missiles, reconnaissance satellites and nuclear submarines, Kim said, speaking through a translator alongside Defense Secretary Lloyd Austin. The US independently confirmed for the first time last week that thousands of North Korean troops had been sent to Russia for military training. A small number of North Korean troops are already in Ukraine, CNN reported on Tuesday, and officials are growing increasingly concerned that the forces will enter into combat alongside Russian troops. “The evidence now suggests that North Korea has sent around 10,000 soldiers to train in eastern Russia,” Austin said on Wednesday. But he did say that South Korean military analysts could be deployed to observe the North Koreans fighting the Russians to gain more insight into North Korea’s military readiness.

Persons: ”, Kim Yong Hyun, Kim, Lloyd Austin, ” Austin, Austin, “, ” Kim, ” CNN’s Haley Britzky, Michael Conte Organizations: CNN, South Korean Defense, Pentagon, North Korean, NATO, Russian, DPRK, Intelligence, South, Korean, Koreans Locations: North Korea, ” Moscow, Russia, Ukraine, Korea, Russian, Iran, Moscow, Tehran, South Korea, Koreans, Republic of Korea

☆ Ukraine's surrender hotline is tempting North Koreans to desert, promising they'll be well fed
▼ + stars: | 2024-10-28 | by ( Kwan Wei Kevin Tan | Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Ukraine is offering comfortable beds and warm meals to North Korea troops who surrender to them. AdvertisementUkraine is enticing Russia-bound North Korean troops with comfortable beds and warm meals in exchange for their surrender. AdvertisementOn Sunday, Ukrainian President Volodymyr Zelenskyy said in an evening address on Telegram that North Korean troops "may appear on the battlefield" any day now. Related storiesRussia's use of North Korean troops is another indicator that it's relying more on allies to sustain its wartime efforts. But Ukraine's attempt to encourage North Korean troops to surrender faces distinct hurdles.

Persons: —, Putin, chatbot, Volodymyr Zelenskyy, Zelenskyy, Joseph S, Bermudez Jr, Kim, Bermudez, Bruce W, Bennett Organizations: Service, Korean People's Army, YouTube, North, Business Insider, Ukraine, Pyongyang that'll, Center for International, Strategic Studies, Workers ' Party of, RAND Locations: Ukraine, Korea, North Korea, Russia, South Korea, Europe, Pyongyang, Workers ' Party of Korea

☆ A loneliness epidemic is spreading worldwide. Seoul is spending $327 million to stop it
▼ + stars: | 2024-10-24 | by ( Jessie Yeung | ) edition.cnn.com time to read: +8 min

CNN —Every year, thousands of South Koreans – mostly middle-aged men – die quietly and alone, cut off from their family and friends. “Loneliness and isolation are not just individual problems, but tasks that society must solve together,” Seoul mayor Oh Se-hoon said in a news release. The phenomenon, known by the Japanese term “hikikomori,” has become increasingly common; South Korea had up to 244,000 such recluses in 2022 by one estimate. A Buddhist nun and staff of Good Nanum hold the name tablets of three deceased people before their cremation on June 16, 2016 in Goyang, South Korea. However, when asked about what makes them feel lonely, “there are some differences compared to other countries,” she said.

Persons: –, hoon, ”, Soo, Myongji University – cautioning, Nanum, Jean Chung, “, they’re, Anthony Wallace, … Organizations: CNN, Koreans, Myongji University, Ministry of Health, Getty, Government, Prevention, Management, Korea isn’t, United, World Health Organization Locations: Seoul, Korea, South Korea, Goyang, “, South Koreans, South, AFP, Japan, United Kingdom

☆ North Korea knows its troops could desert in Ukraine. It has chilling ways to keep them in line.
▼ + stars: | 2024-10-24 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +6 min

The US says North Korean troops are in Russia, possibly bound for the war in Ukraine. AdvertisementAny North Korean troops sent to fight in Ukraine would be subject to harsh measures to ensure they don't desert, observers have told Business Insider. On Wednesday, US Defense Secretary Lloyd Austin said "there is evidence" that North Korean troops were training in Russia. Scattered reports have claimed that smaller numbers of North Korean troops are already in Ukraine. Bennett said that the presence of North Korean troops in Ukraine could offer a rare opportunity to reach high-placed North Korean citizens.

Persons: —, Lloyd Austin, Hromadske, Kim Jong Un, Joseph S, Bermudez Jr, Kim Jong, It's, Mark Collins, Kim, Bermudez, They're, Bruce W, Bennett, they've, Kim's, Kim Yo Jong, we've Organizations: North, Service, US, Business, Center for International, Strategic Studies, National Intelligence Service, South, Workers ' Party of Korea, RAND Locations: Russia, Ukraine, North Korea, South Korea North Korea, North Koreans, Pyongyang, Korea, Nazi, Soviet, South Korea

SEOUL, South Korea — North Korea has sent troops to Russia, the U.S. said Wednesday, its first public confirmation of a move that has rattled Western allies and could mark a major escalation of Moscow’s war in Ukraine. North Korean leader Kim Jong Un visiting Korean People's Army soldiers at an undisclosed location on Oct. 17. South Korean lawmakers said Wednesday that North Korea had sent 3,000 troops to Russia out of a promised 10,000 to be deployed by December. That is twice the 1,500 the South Korean intelligence agency had reported being sent last week. Ukrainian President Volodymyr Zelenskyy said Tuesday that two units of North Korean troops, with as many as 6,000 people each, were being trained for deployment.

Persons: Lloyd Austin, Austin, Kim Jong, KCNA, Volodymyr Zelenskyy, ”, Kyrylo Budanov, Vedant Patel, “, ” Austin, Zelenskyy Organizations: ”, Democratic People’s, Korean People's Army, Getty, Kremlin, South, South Korean, Directorate of Intelligence, North Korean, State Department Locations: SEOUL, South Korea, North Korea, Russia, U.S, Ukraine, Rome, Democratic People’s Republic of Korea, Korea, AFP, Pyongyang, Moscow, Russia’s Kursk, Russian, Kyiv

☆ North Korea’s Kim Jong Un calls South Korea a foreign, hostile country
▼ + stars: | 2024-10-18 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +3 min

SEOUL, South Korea — North Korean leader Kim Jong Un said South Korea is a foreign and hostile nation, state news agency KCNA reported Friday, with photos showing Kim conferring with high-ranking soldiers and poring over a map labeled “Seoul” at a command post. The reclusive state blasted road and rail links with South Korea this week. “This ‘two hostile countries’ rhetoric is, in the end, Kim Jong Un’s survival strategy ... Don’t interfere, live separately as a hostile country. On Friday, the top military commanders of South Korea and the United States held an annual Military Committee Meeting and expressed concern over security challenges stemming from North Korea’s threats. On Sunday, South Korea will begin annual large-scale military exercises called Hoguk to improve operational performance.

Persons: Kim Jong Un, KCNA, Kim, ” Kim, “, ” KCNA, ”, Yang Moo, Kim Jong Organizations: Seoul, 2nd Corps, North Korean, University of North Korean Studies, North, Joint Chiefs, Staff, Democratic People’s Locations: SEOUL, South Korea, North, North Korea, Seoul, colluding, Washington, U.S, Pyongyang, United States, Russia, Democratic People’s Republic of Korea

☆ Former US Army soldier Sung Anh is now a Michelin-starred chef in South Korea and a Netflix ‘Culinary Class Wars’ judge
▼ + stars: | 2024-10-18 | by ( Alkira Reinfrank | ) edition.cnn.com time to read: +11 min

It’s this passion and unwavering drive to forge his own path that’s helped reshape fine dining in his birth home. Chef Sung Anh with his brother in the US Army (left) and with family in California (right). Mosu SeoulIn 2017, chef Sung opened Mosu Seoul in the heart of one of the world’s fastest-growing fine dining scenes. CNNAs recognition grows for South Korean food, chef Sung takes things further at Mosu Seoul, celebrating more than just local ingredients. “Chef Sung gives life and character to each dish I make, which I find very respectable.

Persons: Sung, ”, “, Sung Anh, …, Saddam Hussein, Mosu, “ I’ve, They’ve, Jong, Sangwoo Kim, Chef Sung, Paik Jong, Mosu —, ” Sung, Chung, Ceramicist Yoon Sol, Yoon Organizations: CNN, Michelin, Netflix, US Army, Korean, US, Porsche, West, Mosu, Acorn, Chefs, Mosu Seoul Locations: Iraq, Korea, American, Seoul, South, San Diego , California, US West Coast, South Korea, California, Vietnam, Baghdad, Dakota , Idaho, Puerto Rico, Hawaii, San Francisco, Mosu Seoul, Mosu, Hong Kong, —, Komah, Sao Paulo, New York, Korean, Gangnam, Asia

☆ 'Not everything in life is a conspiracy': Andy Kim rejects claim that he wore North Korean flag on his tie
▼ + stars: | 2024-10-17 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +3 min

Rep. Andy Kim, D-N.J., slammed a Trump delegate for accusing him of wearing the North Korean flag on his tie during a New Jersey Senate debate this week. “Why is US Senate candidate Andy Kim wearing a North Korea flag on his tie tonight?” the delegate, Mike Crispi, wrote on X about Kim’s matchup Tuesday against Republican opponent Curtis Bashaw. … Why didn’t you wear an American flag tie?” Crispi said in the video, adding that the pattern resembled the North Korean and Costa Rican flags. “If elected, I’ll be first Korean American senator after 120 years of Koreans in America,” Kim wrote on social media. “Dear MAGA @MikeCrispi: That is not the North Korean flag,” Lieu wrote.

Persons: Andy Kim, Mike Crispi, Curtis Bashaw, Kim, ” Kim, Crispi, ”, ” Crispi, Dave Min, I’ll, ” Bashaw, Ted Lieu, “, MAGA, ” Lieu Organizations: Trump, Korean, New, New Jersey Senate, Republican, NBC News, NBC, Democrat, Police Locations: New Jersey, Korea, Asian American, North Korea, Costa Rican, United States of America, United States, Orange County , California, America, East Coast, Korean

☆ North Korea calls South Korea a ‘hostile state,’ indicating constitution change
▼ + stars: | 2024-10-17 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +4 min

SEOUL, South Korea — North Korea has designated South Korea a “hostile state,” its state media said Thursday, confirming that its national assembly had amended the constitution in line with leader Kim Jong Un’s vow to drop unification as a national goal. South Korea’s Unification Ministry, which handles ties with the North, said it “strongly condemns” the constitution change and South Korea’s characterization as a hostile state, and that it will not waver in its efforts toward peaceful reunification. North Korea has previously announced summaries of amendments after several days of delay. North Korea sharply intensified its hostile rhetoric in recent days, accusing the South of intruding on its airspace by flying drones and vowing retaliation. South Korea’s government has declined to say whether its military or civilians flew the alleged drones.

Persons: Kim Jong, ” KCNA, KCNA, Kim, “, Yang Moo, ” Organizations: South, DPRK, ROK, Democratic People’s, Korea’s Unification Ministry, People’s Assembly, University of North Korean, North Korean, Getty Locations: SEOUL, South Korea, North Korea, Korea, Democratic People’s Republic of Korea, South, Republic of Korea, “, Kaesong, Seoul, colluding, United States, North, AFP, Pyongyang

☆ She felt trapped in her corporate job in NYC, so she quit and moved to South Korea. Now, she lives alone in a $640-a-month loft.
▼ + stars: | 2024-10-16 | by ( Amanda Goh | ) www.businessinsider.com time to read: +7 min

Chen Teng left her corporate job in New York to move to South Korea in 2016. Now, she lives in a cozy loft and pays 870,000 Korean won, or $640, for rent each month. AdvertisementFeeling trapped at her digital marketing job in corporate America, Chen Teng made a spur-of-the-moment decision to quit and move to a different country. Related storiesHer budget was 10 million Korean won for her deposit, and then under 900,000 won a month for rent. Her rent is 870,000 Korean won, or $640, each month, and Teng paid a deposit of 10 million Korean won for the apartment.

Persons: Chen Teng, —, Teng, weren't, There's, I'm, nothing's, I've Organizations: Service, Yorker, Seoul — Locations: New York, South Korea, Seoul, America, Asia, Korea, Mok, Korean, Brooklyn, Manhattan —, Zillow, New York City

☆ North Korea blows up parts of inter-Korean road on its side of border, South says
▼ + stars: | 2024-10-15 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +1 min

SEOUL, South Korea — North Korea has blown up sections of an inter-Korean road on its side of the heavily militarized border between the two Koreas, South Korea’s Joint Chiefs of Staff said Tuesday. At around midday, some parts of the road north of the military demarcation line dividing the countries were blown up, the Joint Chiefs of Staff said in a message sent to media. Yonhap / via ReutersSouth Korea’s military had ramped up surveillance and its readiness in response, it said. A spokesman for the South’s Joint Chiefs of Staff declined on Monday to answer questions over whether the South Korean military or civilians had flown the alleged drones. DPRK is short for the Democratic People’s Republic of Korea, North Korea’s official name.

Persons: Kim Jong Un, KCNA Organizations: South Korea’s, Chiefs, Staff, Joint Chiefs, Reuters South, South’s, South Korean, DPRK, Democratic People’s Locations: SEOUL, South Korea, North Korea, South, Paju, Seoul, Pyongyang, Democratic People’s Republic of Korea, North

Seoul, South Korea CNN —North Korea blew up parts of two major roads connected to the southern part of the peninsula on Tuesday, South Korean authorities said, after Pyongyang warned it would take steps to completely cut off its territory from the South. South Korea's Defense MinistryOn Monday, South Korea said it had detected signs that North Korea was preparing to demolish roads that connect the two countries, warning that the explosions could occur imminently. The blasts come a few days after North Korea accused South Korea of flying propaganda-filled drones over its capital Pyongyang and threatened “retaliation,” in the latest tit-for-tat exchange following months of Pyongyang sending trash-laden balloons to the South. North and South Korea have been separated since the Korean War ended in 1953 with an armistice agreement. Since January, Pyongyang has fortified its border defenses, laying land mines, building anti-tank traps and removing railway infrastructure, according to the South Korean military.

Persons: Lee Sung, joon, Kim Jong, Kim, ” KCNA, KCNA, ”, Leif, Eric Easley, “ Kim Jong Un Organizations: South Korea CNN, Seoul’s, Chiefs of Staff, South Korean Defense Ministry, South Korean, South Korea's Defense Ministry, Korea's Defense, Defense Ministry, North, Korean People’s Army, DPRK, Democratic People’s, US, South, Ewha Womans University Locations: Seoul, South Korea, North Korea, Pyongyang, West, East, Korean, Korea, North, Democratic People’s Republic of Korea, Russia

☆ Why another delay of Boeing's new 777X plane is such a big deal
▼ + stars: | 2024-10-14 | by ( Taylor Rains | ) www.businessinsider.com time to read: +8 min

Boeing's 777X, its largest passenger plane, is delayed yet again. AdvertisementBoeing's future is dependent on the upcoming 777X, the world's largest passenger plane in production, which has been delayed once again. Boeing's last completely new widebody plane was the 787 way back in 2003. Qatar and Etihad have ordered 94 and 25 777-9s, respectively, for a collective 324 777X planes across the three airlines. The Boeing 777X's 10-abreast cabin mockup on display at Aircraft Interiors Expo in 2022.

Persons: —, planemaker, Kelly Ortberg, it's, Thiago B Trevisan, Julien de Rosa, ROSLAN RAHMAN, Max —, Max, Georg Wendt, Tim Clark, isn't, Clark, Richard Aboulafia, Aboulafia Organizations: Service, Boeing, British Airways, Emirates, Singapore Airlines, Airbus, Korean Air, Delta Air Lines, Lufthansa, Air New Zealand, Getty, Aviation, Etihad Airways, Etihad, Aircraft, Airlines Locations: Qatar, Emirates, Korean, AFP

☆ Bank of Korea's first rate cut in two years 'understandable', 'not that surprising', says JPMorgan
▼ + stars: | 2024-10-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of Korea's first rate cut in two years 'understandable', 'not that surprising', says JPMorganPark Seok Gil, chief Korea economist at JPMorgan, suggests the bureau's case for cutting rates was about normalizing policy.

Persons: Seok Gil Organizations: Email Bank, JPMorgan Locations: Korea's, Korea

South Korea's central bank has cut its benchmark interest rate by 25 basis points to 3.25%, the first rate cut from the BOK since the Federal Reserve started tightening its monetary policy in March 2022. This was in line with a poll of economists from Reuters, who forecasted a rate cut. At that time, South Korea's inflation stood at 2.6%, but climbed sharply to hit 6.3% in July 2022, its highest in over 20 years. Oh noted that macro conditions are supportive of a rate cut, with a "favourable" inflationary backdrop. Oh predicts that after the October cut of 25 basis points, three more consecutive cuts will follow on a quarterly basis, eventually bringing the BOK's benchmark interest rate to 2.5%.

Persons: BOK, Morgan Stanley's, Kathleen Oh, We've, Morgan Stanley Organizations: Bank of, Federal Reserve, Reuters Locations: Bank of Korea, Seoul, Korea's, Korea

☆ Asia markets open mostly higher after declines on Wall Street; BOK rate decision in focus
▼ + stars: | 2024-10-11 | by ( Anniek Bao | ) www.cnbc.com time to read: +1 min

Signage for Bank of Korea is displayed atop the central bank's headquarters building in Seoul, South Korea, on Thursday, Aug. 16, 2018. SINGAPORE — Asia-Pacific markets opened mostly higher Friday, breaking ranks with Wall Street that saw key benchmarks slide as investors digested a sticky U.S. inflation report. Investors in Asia are also focused on policy decisions from the Bank of Korea on Friday. South Korea's central bank is expected to deliver its first rate cut since March 2022, according to a Reuters poll, bringing down its benchmark interest rate by 25 basis points to 3.25%. The highly anticipated briefing session is expected to unveil fresh fiscal stimulus package as Beijing attempts to boost its economy.

Organizations: Bank of, Investors, Bank of Korea, China's Ministry of Finance Locations: Bank of Korea, Seoul, South Korea, South Korea's, SINGAPORE — Asia, Pacific, Asia, Korea's, Beijing

Seoul, South Korea CNN —North Korea’s army said it will take the “substantial military step” of completely cutting off its territory from South Korea on Wednesday, after months of fortifying its heavily armed border. Since January, Pyongyang has fortified its border defenses, laying land mines, building anti-tank traps and removing railway infrastructure, according to the South Korean military. Over the past year, a US aircraft carrier, amphibious assault ships, long-range bombers and submarines have visited South Korea, drawing angry rebukes from Pyongyang. “North Korea’s threats, both real and rhetorical, reflect the regime survival strategy of a hereditary dictatorship.”North and South Korea have been separated since the Korean War ended in 1953 with an armistice agreement. In January, Kim said North Korea would no longer seek reconciliation and reunification with South Korea, calling inter-Korean relations “a relationship between two hostile countries and two belligerents at war,” KCNA reported at the time.

Persons: Kim Jong, Kim, ”, Hong Min, ” Hong, Yoon Suk Yeol, Leif, Eric Easley, “ Kim Jong Un, ” Easley, ” KCNA Organizations: South Korea CNN, North, South, DPRK, Staff, Korean People’s Army, Democratic People’s, South Korean, General Staff, US, Korea’s, Chiefs, Korea Institute for National Unification, CNN, Inter, Korean, Armed Forces, Ewha Womans University, North Korean, United Nations Command Locations: Seoul, South Korea, North Korea, Democratic People’s Republic of Korea, Pyongyang, Hong, Russia, West

Search resuls for: "of Korea"

25 mentions found