On the 28th, the Bank of Korea announced in a statement on its “monetary policy direction” that “the Bank of Korea has decided to operate monetary policy by lowering the base rate from the current level of 3.25% to 3.0%.” The Bank of Korea explained that “although exchange rate volatility has expanded, downward pressure on growth has increased amid the continued stabilization of the inflation rate and the slowdown in household debt.” The so-called “Trump shock” was a major factor behind the decision.
With household loans from depository banks totaling KRW 959.2 trillion through the third quarter of this year, it is expected to exceed KRW 1,000 trillion by the end of the year.
Samsung Electronics reported on Wednesday that it posted KRW 7.91 trillion in sales and KRW 9.18 trillion in operating profit in the third quarter of this year.
Hanwha Solutions has continued to post operating losses for three consecutive quarters, but reduced its deficit in the third quarter by improving profitability in its engineering, procurement, and construction(EPC) business.
Hyundai E&C is partnering with Mobinn, a startup that develops autonomous delivery robots, to pilot a robot delivery service for residents of apartment buildings.