Economy

Seoul, South Korea - In a surprising turn, the Bank of Korea (BOK) recently reduced its benchmark interest rate by 0.25 percentage points for the second month in a row, bringing it to 3.0% from 3.25%. This move marks the first consecutive rate cut since the 2008

Imagine an economy where spending stalls for nearly three years, and the fastest-growing workforce is retirees forced to return to jobs. This is not a hypothetical scenario but the reality in South Korea today. A historic 10-quarter decline in retail sales has left small businesses struggling, while the government celebrates

In response to evolving global economic conditions, central banks worldwide have recently implemented interest rate reductions aimed at sustaining economic growth and stabilizing inflation. The U.S. Federal Reserve, the Bank of England, and the Bank of Korea have each taken notable actions, though with different economic considerations and results.

In September 2024, the U.S. Federal Reserve slashed interest rates by 50 basis points, marking its first rate reduction in four years. The Fed’s decision, aimed at stabilizing inflation and addressing rising unemployment, is part of an ongoing effort to stimulate the U.S. economy amidst cooling price

As South Korea grapples with rising inflation and a slowing economy, signs are emerging that the nation may be on the cusp of a prolonged economic downturn. Nowhere is this more evident than in the restaurant industry, where closures have surged, and businesses struggle to stay afloat. The once-thriving sector,

Seoul, South Korea - The Bank of Korea (BOK) has once again opted to maintain its key interest rate at 3.50%, a decision that marks the 13th consecutive rate hold since early 2023. This cautious approach comes amidst a backdrop of easing inflation, persistent household debt, and modest economic