Time for banks to act

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The Bank of Korea's Monetary Policy Committee lowered the benchmark interest rate by 0.25 percent from the current 4.25 percent to 4 percent on Friday.

Daegu to host 2013 World Energy Congress

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MEXICO CITY, Nov. 7 (Yohap) -- The South Korean city of Daegu was selected Friday to host the 2013 World Energy Congress, beating rival candidates Copenhagen and South Africa's Durban.

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