NEWS BRIEF

[Anchor Lead]

The Bank of Korea has maintained its key interest rate at the current 0.5 percent for the seventh time. In deciding to keep the base rate unchanged, the central bank appeared to have considered growing inflationary pressure and conditions of the financial and real estate markets. With the latest rate freeze, the difference between policy rates of South Korea and the U.S. is kept at 0.25 to 0.5 percent. The BOK slashed the benchmark rate to the record low of 0.5 percent in May last year.
The Korea Customs Service says the nation's exports reached 146.5 billion U.S. dollars in the first three months of this year. It is up 12.5 percent year on year and the largest amount to be recorded in a first quarter. The nation's outbound shipments stood at 132.7 billion dollars and 130.2 billion dollars in the first quarter of 2019 and 2020, respectively. Analysts say the export growth was driven by rising demand for semiconductors and IT decides as well as increased shipments of automobiles and medical supplies.
The Justice Ministry said Thursday Samsung Electronics Vice Chairman Lee Jae-yong will return to prison later in the day, nearly a month after receiving an appendicitis surgery. On March 19, Lee was transferred from Seoul Detention Center to Samsung Medical Center and received an emergency surgery after suffering a ruptured appendix. The Samsung heir was sentenced to two and a half years in prison earlier this year in a retrial of a bribery case involving the impeached former President Park Geun-hye. Lee is known to have lost about eight kilograms due to complications following the surgery.