Turkey's central bank added South Korea's won to a list of currencies in which it can carry out buying and selling transactions, the official gazette showed on Friday.
3 Min Read SEOUL (Reuters) - South Korea’s consumer inflation accelerated to a more than nine-year high in May, reinforcing calls for gradual monetary tightening, though the increase was mainly due to a low base effect and rises in oil and agricultural prices. FILE PHOTO: A shopkeeper wearing a mask to prevent contracting the coronavirus waits for a customer at a traditional market in Seoul, South Korea, February 27, 2020. REUTERS/Heo Ran Consumer prices rose 2.6% in May from a year earlier, government data showed on Wednesday, logging the fastest growth since April 2012 and matching a median estimate for a 2.6% increase in a Reuters survey. It grew 2.3% in April.
South Korea's factory activity extended growth into an eighth straight month in May, a private sector survey showed on Tuesday, thanks to the recovery in global demand although the pace of expansion eased slightly.
Seoul [South Korea], May 25 (ANI/Global Economic): The Bank of Korea is launching a simulation of Central Bank Digital Currency (CBDC) in August. Rather than issuing and commercializing CBDC right away, the idea is to test in advance from CBDC manufacturing to payment in a virtual environment.
2 Min Read FILE PHOTO: The logo of the Bank of Korea is seen on the top of its building in Seoul, South Korea, July 14, 2016. REUTERS/Kim Hong-Ji SEOUL (Reuters) - South Korea’s central bank on Monday said it will choose a technology supplier to build a pilot platform for a digital currency, moving a step closer to creating a central bank-backed digital currency. The Bank of Korea said it is seeking a partner through an open bidding process to research the practicalities of launching a central bank digital currency (CBDC) in a test environment - the first such exploratory step in Asia’s fourth largest economy.