SEOUL: South Korea's central bank on Thursday cut its key interest rate for the first time in three years as the economy struggles with sluggish global growth and with the country embroiled in a trade spat with Japan.
Given the volume of trade between the two neighbours, if the restrictions are sustained or expanded it would have"no small impact on our economy", BOK chief Lee Ju-yeol told reporters."It wouldn't be ideal for export restrictions to worsen," he said."More efforts are needed to resolve the issue to prevent that from happening."
But relations between the two remain heavily affected by Japan's expansionism in the first half of the 20th century, including its colonisation of the peninsula.
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