BOK holds rate at 3%, won firms; KOSPI drops over 3%
The Bank of Korea held its key rate at 3% while flagging that further hikes remain possible, and the won strengthened against the dollar after the decision. Seoul stocks fell more than 3% on profit-taking amid persistent AI-related worries, and the BOK said strong chip exports should lift private consumption from next year.
Markets & chips
Bank of Korea
The central bank stood pat after back-to-back hikes, with inflation and household debt still cited as concerns.
The Bank of Korea kept its key rate steady at 3.00%, pausing following consecutive increases.
The Bank of Korea left rates unchanged but signaled that additional hikes may follow.
A BOK report said strong semiconductor exports are expected to spill over into private consumption starting next year.
Korean won
The won strengthened against the US dollar after the Bank of Korea held its key rate.
Korean markets & the won
Seoul stocks fell more than 3% as investors took profits amid continuing AI-related concerns.
Samsung Electronics
Samsung's chairman visited the UAE and encouraged employees there.
SK hynix
The Financial Supervisory Service is examining whether retail investors were unfairly treated in an SK hynix ETF case.
Korean chipmakers
Merck opened a new semiconductor materials facility in Korea.
Hankuk University of Foreign Studies is offering training for new hires at semiconductor companies.
Business of culture
Netflix in Korea
A new Netflix series starring Song Hye-kyo and Gong Yoo is set to premiere in December.
Netflix is turning everyday locations in Korea into tourist attractions.