SEOUL — South Korea's remarkable transformation from one of the world's poorest countries to one of the richest is unparalleled in recent history. But while official data show robust growth and low unemployment, the South Korean economy remains beset by deep structural challenges that could have a profound impact on its future prosperity.
SEOUL — South Korea 's remarkable transformation from one of the world's poorest countries to one of the richest is unparalleled in recent history. But while official data show robust growth and low unemployment, the South Korea n economy remains beset by deep structural challenges that could have a profound impact on its future prosperity.Many South Korea ns are pessimistic about the future, which reflects the intense competition that defines their lives, from education to employment.
In October, the BOK's Monetary Policy Board — of which I am a member — cut the benchmark interest rate for the first time since it began raising rates in August 2021, from 3.5 percent to 3.25 percent. The board first considered a rate cut in August, as inflation showed clear signs of moderating, and the South Korean won was stable relative to the United States dollar.
Bank Of Korea Moves Beyond Monetary Policy
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