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Korea, Indonesia extend currency swap for five years

South Korea and Indonesia have agreed to extend their won–rupiah currency swap agreement for five years, strengthening bilateral financial cooperation and trade ties.On Wednesday, the Ministry of Economy and Finance said the Bank of Korea and Bank Indonesia decided to extend the currency swap agreement from Feb. 6, 2026, to March 5, 2031. The deal, first sig..

Mortgage rates climb back to 6%
South Korea’s major banks have raised mortgage rates back into the 6% range for the first time in two years, signaling a tightening lending environment as..

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