Seoul, Feb 15 (IANS) The cremation rate in South Korea continues to be on a steady rise, data showed Sunday, prompting concerns over potential shortages of cremation facilities, especially in densely populated major cities, such as Seoul, amid the rapid ageing of the population.The national cremation rate came to 94 per cent in 2024, up from 92.9 per cent a year earlier, according to the data from the Bank of Korea (BOK) and the welfare ministry.The figure has been on a constant increase over th…
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Seoul, Jan 27 (IANS) Business sentiment in South Korea fell slightly in January, despite strong exports, due mainly to worsening sentiment in the non-manufacturing sector following the dissipation of year-end base effects, a central bank survey showed on Tuesday.The Composite Business Sentiment Index (CBSI) for all industries stood at 94 this month, down 0.2 point from December, according to the survey conducted by the Bank of Korea (BOK), reports Yonhap news agency.The index had risen for two c…
Seoul, Jan 15 (IANS) South Korea’s central bank again left its benchmark interest rate unchanged on Thursday as a weakened won and rising inflation concerns limited room for further easing.In a widely expected decision, the Monetary Policy Board of the Bank of Korea (BOK) held the key rate at 2.5 per cent at its rate-setting meeting in Seoul, marking the fifth consecutive on-hold decision since July, reports Yonhap news agency.”Inflation is expected to gradually decline, though the elevated exch…
Seoul, Jan 9 (IANS) South Korea posted its largest-ever current account surplus for any November, supported by strong exports amid an upcycle in the semiconductor industry, central bank data showed on Friday.The country’s current account surplus totalled US$12.24 billion in November, up sharply from $6.81 billion a month earlier, according to the data from the Bank of Korea (BOK), reports Yonhap news agency.It marked the highest level for any November since the BOK began compiling relevant data …
Seoul, Jan 2 (IANS) Bank of Korea (BOK) Governor Rhee Chang-yong on Friday projected the economy, when excluding the information technology (IT) sector, to grow 1.4 percent this year, forecasting widening disparities across sectors.”The IT sector is expected to lead growth this year on the back of a global semiconductor upcycle. If we exclude its contribution, economic growth would be limited to 1.4 percent,” Rhee said in his New Year’s address, reports Yonhap news agency.In its latest outlook r…