The government on Wednesday announced plans to strengthen monitoring, including imposing additional duties on violators, to prevent importers from exploiting the country's tariff-rate quota system.
Gold and silver prices continued their rally to record highs as expectations mount that the U.S. Federal Reserve will cut interest rates at the upcoming Federal Open Market Committee (FOMC) meeting scheduled for Sept. 16 to 17.
The Bank of Korea will continue its rate-cut cycle through the first half of next year, as the country’s economic growth is projected to stay below its potential, the central bank said after announcing that the rate will hold steady at 2.5 percent.
The Bank of Korea (BOK) lowered its benchmark interest rate by 0.25 percentage points to 2.5 percent on Thursday, signaling a shift toward monetary easing amid growing concerns over stagnating growth.
The Kospi lost 1.78 points, or 0.07 percent, to close at 2,486.64 on heightened uncertainties ahead of Seoul's tariff negotiations with Washington later this week.
Korea JoongAng Daily Sitemap
