Seoul, April 20 (IANS) Outgoing Bank of Korea (BOK) Governor Rhee Chang-yong said on Monday that achieving economic stability and growth through monetary and fiscal policy alone has become increasingly difficult, calling for a broader role for the central bank in addressing long-term structural challenges.Rhee made the remarks during his farewell ceremony in Seoul, as he completed his four-year term. His successor, Governor-designate Shin Hyun-song, is set to begin his term Tuesday as his nomina…
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Seoul, April 20 (IANS) Seoul stocks were trading sharply higher late on Monday morning, despite concerns over renewed tensions between the United States and Iran in the Middle East.The benchmark Korea Composite Stock Price Index (KOSPI) gained 81.79 points, or 1.32 percent, to 6,273.71 as of 11:20 am (local time), reports Yonhap news agency.U.S. President Donald Trump has said the U.S. has seized an Iranian-flagged commercial vessel in the Gulf, as part of its naval blockade. Iran called such ac…
Seoul, April 15 (IANS) The Korean won has remained relatively weak in recent months, but the country has sufficient dollar liquidity to respond to external shocks, Shin Hyun-song, nominee for the head of South Korea’s central bank, said on Wednesday.Shin made the remarks during a confirmation hearing at the National Assembly in Seoul, as he has been tapped to replace outgoing Bank of Korea (BOK) Gov. Rhee Chang-yong, reports Yonhap news agency.”It is not appropriate to comment on the specific le…