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December, 11, 2016

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Business > Asia > Korea
South Korea's central bank cut interest rates for the first time in 15 months Thursday, under growing government pressure including warnings of recession from the new finance minister.
 
South Korea's capital Seoul said Monday it planned to ban the smartphone car-hailing service Uber, saying it raised passenger safety issues and threatened the livelihood of licensed taxi drivers.
 
South Korea's unemployment rate inched down in June from a month earlier, although young people faced an increasingly tough job market, government statistics showed Wednesday.
 
South Korea's central bank said economic growth will be slower than expected this year because consumer spending has waned following a deadly ferry sinking.
 
South Korea's economic growth hit its highest level in three years in the first quarter, boosted by new home construction and exports of electronics.
 
S. Korea's top chat app, online portal to merge
South Korea's top messaging service provider, Kakao Corp., and its second largest Internet portal, Daum, announced a merger Monday to create one of the country's largest IT companies worth around US$3 billion.
 
South Korea's inflation rate hit an eight-month high in April, government data showed on Thursday, on increases in the cost of oil and industrial goods.
 
South Korea's economy grew by 0.9 percent for the second consecutive quarter as exports remained solid but domestic spending stalled, state data showed Thursday.
 
Vietnam's steel import volume experienced a modest year-on-year increase of 2 percent to 2.2 million tonnes, valued at US$1.5 billion, in the first quarter of 2014.
 
South Korea's central bank on Thursday kept interest rates at 2.5 percent for the 11th consecutive month, citing signs of recovery at home and abroad and uncertainty about the U.S. Federal Reserve's stimulus.
 
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