The South Korean central bank on Thursday lowered its base interest rate by 25 basis points to 3%, marking the second consecutive monthly cut and the lowest rate since October 2022. The Bank of Korea cited intensifying downward pressure on economic growth, stabilized inflation, and a slowdown in household debt as key reasons for the decision.

South Korea's central bank delivered a surprise interest rate cut on Thursday and signaled more to come, as economic growth faltered and policymakers turned a wary eye to trade risks from a second Donald Trump presidency.

South Korea’s central bank unexpectedly cut its policy rate for a second straight time and lowered its growth forecasts for the country as it looks to step up support for the sagging economy.

South Korea’s president has met a visiting Ukraine delegation and called for a joint response to the threat posed by North Korea’s recent dispatch of more than 10,000 soldiers to support Russia’s war

North Korean leader Kim Jong-un has visited the facility several times and the state media has previously talked about the tactile missiles being mass-produced at the location.

South Korean President Yoon Suk Yeol met with Ukrainian Defense Minister Rustem Umerov in Seoul on Nov. 27 to discuss concerns over deepening military ties between Russia and North Korea, Yonhap News Agency reported.