“The denuclearization of the Korean Peninsula and building a permanent peace on the peninsula is a task we cannot give up or delay,” Moon said in a meeting on Thursday with his National Security Council.
Meanwhile, South Korea’s central bank kept interest rates on hold for a sixth consecutive month on Thursday as widely expected among economists, the Financial Times reports.
The central bank held benchmark seven-day repurchases rate at 1.5% as forecasted by 13 analysts polled by Reuters.
“With inflation still subdued and the currency holding up reasonably well despite the recent sell-off in EM assets, there is no urgency for the central bank to hike rates just yet,” Krystal Tan, Asia Economist for Capital Economics, said ahead of the announcement.
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