[THE INVESTOR] The UN-operated Green Climate Fund has decided to inject US$ 256.6 million in climate change projects in nine developing countries, the Ministry of Strategy and Finance said July 1. The decision was made during the 13th board meeting of the GCF, held at its headquarters in Songdo, Incheon, from June 28 to 30. The newly approved projects include solar energy development program in Chile, projects to make coastal communities in Vietnam more resilient to climate change impacts and su

[THE INVESTOR] Korea’s benchmark interest rate could be slashed to below 1 percent this year due to Britain’s decision to leave the European Union, Nomura Financial Investment said on July 1. Kwon Young-sun, an economist at the firm said that the Bank of Korea is likely to cut the key rate by 25 basis points twice within 2016 to 0.75 percent from current 1.25 percent. On June 9, the BOK took its key seven-day repo rate to 1.25 percent from a previous level of 1.5 percent, the first cut in 12 mon

[THE INVESTOR] South Korea’s exports may be on the recovery path, with the rate of year-on-year drop decreasing to a 12-month low. According to the Ministry of Trade, Industry and Energy, the country’s June exports showed an on-year drop of 2.7 percent -- the smallest decrease recorded since June 2015 -- to come in at US$ 45.3 billion. Since January 2015, Korea’s monthly exports have been declining, with the rate of decrease rising to 19.1 percent in January this year. The figure recorded in the