Bank of Korea policy board urges structural reforms, easier regulations

March 23, 2016 6:00 AM

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SEOUL, March 23 South Korea should step up structural reforms and ease regulations in order to spur economic activity, the Bank of Korea's monetary policy board said on Wednesday.

"Looking 10 years forward, the current trade market will shrink while the importance of sectors like services will only grow," said central bank board member Chung Soon-won in a speech for a luncheon event with media. He was speaking on behalf of the board.

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