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…
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Seoul, Dec 30 (IANS) Foreign currency deposits in South Korea rose for the first time in three months in November, central bank data showed on Tuesday.Outstanding foreign currency-denominated deposits held by residents stood at US$103.55 billion as of end-November, up $1.71 billion from a month earlier, according to the data from the Bank of Korea (BOK), reports Yonhap news agency.The total had reached the highest level in 31 months in August but declined over the following two months, mainly du…