Korea’s sluggish economy dampens growth prospects

Photo of a South Korean flag flying next to a skyscraper

Korea’s economy remains sluggish, but its central bank is optimistic about reaching growth targets.

The Bank of Korea decided to leave interest rates on hold at 1.75% at its January meeting, in light of global uncertainty surrounding trade and monetary policy, and a more subdued domestic outlook.

“Employment conditions have been sluggish, with the amount of increase in the number of persons employed having lessened substantially in December,” the central bank’s board said in a statement.

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