Korea Joongang Daily
Korea JoongAng Daily

Korea's economy grows 0.1% in Q4, annual growth misses expectations

Korea’s economy grew 2 percent in 2024, falling short of the Bank of Korea's (BOK) 2.2 percent projection, as fourth-quarter growth significantly underperformed due to political turmoil.

2025-01-23

BOK cuts 2025 growth forecast to 1.7% in rare January release

The Bank of Korea cut its growth forecast for this year from 1.9 percent to 1.6 to 1.7 percent in a rare January disclosure, citing concerns over contracting consumer sentiment on the back of political uncertainties.

2025-01-20

Korea could miss economic growth forecast due to martial law fallout: BOK chief

Bank of Korea's Governor warned that Korea may miss its 2024 growth forecast due to martial law effects, lowering growth projections.

2025-01-16

BOK keeps rates steady at 3% in first 2025 decision

The Bank of Korea (BOK) kept the interest rate unchanged at 3.00 percent on Thursday during its first rate-setting meeting of the year, as the won continued to trade weakly against the dollar.

2025-01-16

BOK chief defends acting president's court appointments as 'first step' for economic stability

In his New Year's address, Bank of Korea Gov. Rhee Chang-yong said acting President Choi Sang-mok's move to appoint two Constitutional Court justices was inevitable, warning that instability will hurt Korea's credibility.

2025-01-02

BOK to further cut benchmark rate to mitigate growing downside risks

The Bank of Korea said in its monetary policy report for 2025 that it will further cut its benchmark rate to counter a worsening trade environment and brace for the Donald Trump administration's policies.

2024-12-25

BOK chief cuts GDP projection to 2.1%, but final rate cut ruled out

In a biannual press conference on inflation, Bank of Korea Gov. Rhe Chang-yong cut his estimation for growth in 2024 to 2.1 percent on the back of a tumultuous fourth quarter with President Yoon Suk Yeol's martial law declaration.

2024-12-18

Outstanding household credit surpassed 1.9 quadrillion won in Q3: BOK

Outstanding household debt set a new record in the third quarter of this year at 1.91 quadrillion won as housing transactions surged in July.

2024-11-19

BOK not confident on rate cut with forex fluctuation after election volatility

Bank of Korea Gov. Rhee Chang-yong said the central bank must still monitor the won-dollar exchange rate before the year's final rate-setting meeting at the end of the year.

2024-11-08

Rate cuts not cure-all for slow demand, high interest: BOK chief

Bank of Korea Gov. Rhee Chang-yong conceded that the central bank's recent rate cut would not reign in market interest rates but said that this is only the beginning for the BOK.

2024-10-14