The South Korean central bank on Thursday lowered its base interest rate by 25 basis points to 3%, marking the second consecutive monthly cut and the lowest rate since October 2022. The Bank of Korea cited intensifying downward pressure on economic growth, stabilized inflation, and a slowdown in household debt as key reasons for the decision.

South Korea's central bank cut benchmark interest rates for a second straight meeting on Thursday in a surprise move as the economy stalled and inflation slowed more than policymakers predicted. The Bank of Korea (BOK) lowered its benchmark interest rate by a quarter percentage point to 3.

South Korea’s central bank unexpectedly cut its policy rate for a second straight time and lowered its growth forecasts as it looks to step up support for the sagging, trade-dependent economy as tariff risks loom large in the wake of the U.

SEOUL (Reuters) - South Korea plans to roll out 14 trillion won ($10 billion) of low-interest loans next year to support its chip industry, the finance ministry said, as the sector grapples with Chinese competition and uncertainties over a new U.S. administration.

South Korea plans to roll out 14 trillion won ($10 billion) of low-interest loans next year to support its chip industry, the finance ministry said, as the sector grapples with Chinese competition and uncertainties over a new U.

South Korea plans to bolster its fiscal support for domestic chipmakers next year, shoring up an industry that may face unfavorable policies from the incoming Trump administration and more intense challenges from Chinese rivals.