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Korean Economy Expands 1.5% in Q3

01 Décembre 2017

They cite robust growth and inflationary pressures among the key supporting factors.

The Bank of Korea (BOK) raised interest rates on Thursday to 1.50 percent, the first hike for over six years, yet tempered market expectations for more by raising concerns about job market and geopolitical risks. Meanwhile, economists are still looking at gradual rate increases by the Bank of Korea rather than a sharp tightening stance.

The BOK said manufacturing numbers rose 2.9 percent in the third quarter from three months earlier, while construction and service sectors advanced 1.5 percent on-quarter and 1.1 percent, respectively.

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In a letter dated November 10, the UGC, had asked 123 Deemed-to-be-Universities to drop the word "University" from their names. It had sent another letter on November 13, giving them 15 days to stop using the term "University" in their name.

A sustained export boom is behind Thursday's decision to remove the emergency stimulus in force since 2012, as soaring global demand for memory chips boosted corporate earnings at tech giants including Samsung Electronics Co and SK Hynix.

South Korea's gross domestic product was revised up to 1.5 percent on quarter in the third quarter of 2017, the Bank of Korea said on Friday.

The reading, which is above the 1.4 percent growth in the earlier estimate, marks the fastest expansion in seven years.

Korean Economy Expands 1.5% in Q3