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If Bitcoin (BTC) falls below 8.6 million dollars, a liquidation exceeding 800 million dollars is expected to occur. According to CoinGlass data on the 13th (local time), if Bitcoin fails to maintain the 8.6 million dollar line, a liquidation of approximately 8.67 million dollars (about 1.2 trillion won) will occur. Conversely, if Bitcoin bounces back to 8.9 million dollars, the liquidation amount will be 7.87 million dollars (about 1.1 trillion won). On this day, Bitcoin is trading at around 8.7 million dollars in the Binance Tether (USDT) market. Feel free to leave your opinions and questions about this news!

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According to the Token Mindshare (a chart quantifying the influence of specific tokens in the virtual asset market) of Kaito, an AI-based Web3 search platform, the top five keywords related to virtual assets that people are currently most interested in are Dogecoin (DOGE), Bonk (BONK), Ethereum (ETH), CoinBase, and the Department Of Government Efficiency. Dogecoin received attention today as Elon Musk, the CEO of Tesla, announced that he would take over the 'Department Of Government Efficiency (D.O.G.E)' of the Donald Trump administration. Musk has actively expressed his fondness for Dogecoin in the past. Currently, Dogecoin is trading at 0.376 dollars, down 0.40%% from the previous day on the CoinMarketCap. Bonk is estimated to have increased in mentions as a meme coin similar to Dogecoin after being mentioned. Currently, Bonk is trading at 0.00003333 dollars, up 27.42%% from the previous day on the CoinMarketCap. Ethereum recently attracted attention as Vitalik Buterin, the founder of Ethereum, announced at the Bank Devcon2024 that "a comprehensive update on Ethereum's decentralization, scalability, security, efficiency, and size is planned for the future." Currently, Ethereum is trading at 3208.55 dollars, down 4.09%% from the previous day on the CoinMarketCap. CoinBase has recently attracted investors' attention as its stock price rose with the increase in Bitcoin prices. As a result, it was reported that national pension funds and investment funds that invested in CoinBase earned more than three times their investment. CoinBase closed at 319.13 dollars the previous day. The Department Of Government Efficiency was announced today as Elon Musk's involvement increased online mentions. The Trump administration's Department Of Government Efficiency is responsible for managing the budget efficiently without waste. Elon Musk stated that he would ensure transparency by disclosing all activities of the Department Of Government Efficiency online. Additionally, investors are showing interest in PEPE, Tezos (XTZ), Ripple (XRP), Frog (FWOG), and Solana (SOL).

During the first half of this year, it was investigated that 70%% of the total transaction amount in the domestic virtual asset (cryptocurrency) exchanges was traded on Upbit. According to the industry on the 2nd, Kim Hyun-jung, a member of the Democratic Party of Korea, analyzed the 'current status of virtual asset exchanges' submitted by the Financial Supervisory Service, and found that the total transaction amount of the five major virtual asset exchanges this year was 1,087 trillion won. Among them, Upbit recorded a market share of 70.6%%, with 770 trillion won. Upbit has been recording a market share exceeding 70%% since 2021. Looking at the annual transaction amount of virtual asset exchanges from 2021 to the first half of 2024, Upbit recorded 3,557 trillion won (2021), 1,166 trillion won (2022), 934 trillion won (2023), and 770 trillion won (first half of 2024). In the same period, the transaction amounts of other major exchanges were as follows: Bithumb 795 trillion, 258 trillion, 196 trillion, 280 trillion; Coinone 203 trillion, 59 trillion, 24 trillion, 21 trillion; Korbit 19 trillion, 4 trillion, 5 trillion, 10 trillion; Gopax 21 trillion, 1 trillion, 2 trillion, 6 trillion. Calculating this as a ratio, Upbit's market share for each period is 77%%, 78%%, 80%%, and 70.6%%.
Bithumb (CEO Lee Jae-won) is taking the lead in strengthening the 'Unfair Trade Report Compensation System' for employees who voluntarily report unfair trade practices in the use of virtual assets, ahead of the enforcement of the Virtual Asset User Protection Act. Bithumb introduced the 'Unfair Trade Report Compensation System' last July to prevent unethical and illegal activities by employees. This system, along with existing trading support and virtual asset fraud-related reporting channels, aims to protect virtual asset users by preventing unfair trade practices by employees and ensuring corporate transparency and accountability. To further strengthen user protection, Bithumb decided to significantly increase the compensation amount from the current maximum of 300 million won to a maximum of 1 billion won. The compensation is determined comprehensively based on the severity of the incident, the importance of the information accessed, and the results of the investigation, and can be provided through phone or email. The reportable activities include employees demanding bribes in exchange for trading support, disclosing or using important undisclosed information, directly or indirectly engaging in unfair trading activities, receiving money, gifts, or conveniences from interested parties, and improperly using company assets and information for personal gain. Additionally, Bithumb is strengthening internal monitoring by regularly investigating the status and trading history of accounts at other trading venues related to trading support personnel. Bithumb CEO Lee Jae-won stated, "We will actively work to establish a healthy market order and prevent unfair trade practices, creating a safe virtual asset trading environment."
During the first half of this year, it was surveyed that 70%% of the transaction volume in the domestic virtual asset (cryptocurrency) exchanges was traded on Upbit. According to the industry on the 2nd, Kim Hyun-jung, a member of the Democratic Party of Korea affiliated with the National Assembly's Political Affairs Committee, analyzed the 'Current Status of Virtual Asset Exchange Transactions' submitted by the Financial Supervisory Service, and found that the transaction volume of virtual asset exchanges in the first half of this year was 1,087 trillion won. Among them, Upbit accounted for 770 trillion won, recording a market share of 70.6%% of the total. Upbit has been recording a market share exceeding 70%% continuously since 2021. Looking at the annual transaction volume of virtual asset exchanges from 2021 to the first half of 2024, Upbit recorded 3,557 trillion (2021), 1,166 trillion (2022), 934 trillion (2023), and 770 trillion (first half of 2024). In the same period, the transaction volumes of other major exchanges were △Bithumb 795 trillion, 258 trillion, 196 trillion, 280 trillion △Coinone 203 trillion, 59 trillion, 24 trillion, 21 trillion △Korbit 19 trillion, 4 trillion, 5 trillion, 10 trillion △Gopax 21 trillion, 1 trillion, 2 trillion, 6 trillion. Calculating this as a basis, Upbit's market share for each period is 77%%, 78%%, 80%%, and 70.6%%.
According to the Token Mindshare indicator of the AI-based search platform Kaito, which quantifies the influence of specific tokens in the virtual asset market, the top five keywords currently attracting the most attention are Dogecoin (DOGE), Bonk (BONK), Ethereum (ETH), CoinBase, and the Department Of Government Efficiency. Today, Dogecoin received attention as Elon Musk, the CEO of Tesla, took over the 'Department Of Government Efficiency (D.O.G.E)' from Donald Trump. Musk has actively mentioned his fondness for Dogecoin in the past. Currently, Dogecoin is trading at 0.376 dollars, down 0.40%% from the previous day on the CoinMarketCap. Bonk is estimated to have increased in mentions as it was listed alongside Dogecoin as a similar meme coin. Bonk is currently trading at 0.00003333 dollars, up 27.42%% from the previous day on the CoinMarketCap. Ethereum recently attracted attention as Vitalik Buterin, the founder of Ethereum, announced at the Bangkok DevCon2024 that "a comprehensive update on Ethereum's decentralization, scalability, security, efficiency, and size is planned for the future." Currently, Ethereum is trading at 3208.55 dollars, down 4.09%% from the previous day on the CoinMarketCap. CoinBase has recently attracted investors' attention as the price of Bitcoin rose, and its stock price increased. As a result, CoinBase was known to have yielded more than three times the profit compared to the national pension or investment funds. The other day, CoinBase closed at 319.13 dollars. The Department Of Government Efficiency, led by Elon Musk, was announced today, and its online mentions have increased. The Trump administration's Department Of Government Efficiency is responsible for managing budgets efficiently without waste. Elon Musk stated that he would ensure transparency by disclosing all activities of the Department Of Government Efficiency online. Additionally, investors are showing interest in PEPE, Tezos (XTZ), Ripple (XRP), Frog (FWOG), and Solana (SOL).

During the first half of this year, it was surveyed that 70%% of the transaction volume in domestic virtual asset (cryptocurrency) exchanges was conducted through Upbit. According to the industry on the 2nd, Kim Hyun-jung, a member of the Democratic Party of Korea, analyzed the 'Current Status of Virtual Asset Exchange Transactions' submitted by the Financial Supervisory Service, and found that the transaction volume of virtual asset exchanges in the first half of this year was 1,087 trillion won. Among them, Upbit accounted for 770 trillion won, recording a market share of 70.6%% of the total. Upbit has been recording a market share exceeding 70%% continuously since 2021. Looking at the annual transaction volume of virtual asset exchanges from 2021 to the first half of 2024, Upbit recorded 3,557 trillion won (2021), 1,166 trillion won (2022), 934 trillion won (2023), and 770 trillion won (first half of 2024) for each period. In the same period, the transaction volumes of other exchanges were △Bithumb 795 trillion, 258 trillion, 196 trillion, 280 trillion △Coinone 203 trillion, 59 trillion, 24 trillion, 21 trillion △Korbit 19 trillion, 4 trillion, 5 trillion, 10 trillion △Gopax 21 trillion, 1 trillion, 2 trillion, 6 trillion, etc. Calculating this as a basis, Upbit's market share for each period is 77%%, 78%%, 80%%, and 70.6%%.
The U.S. Federal Reserve (Fed) has cut the base interest rate by 0.25 percentage points (25bp). Although there was speculation about the re-election of former President Donald Trump in the stock market, the Fed was seen as likely to continue its interest rate cut stance. According to the financial investment industry on the 8th, the Fed lowered the base interest rate from the current annual rate of 4.75%% to 4.54.75%% at the Federal Open Market Committee (FOMC) regular meeting in November. Following the big cut in September (a 0.5 percentage point cut in the base interest rate at once), the decision to complete the easing policy was made consecutively. Notably, lowering the base interest rate consecutively twice is the first time since 2020. Regarding the November FOMC, Park Sang-hyun, a researcher at iM證, interpreted it as "there is no change in the stable price condition" and said, "Considering that Chairman Jerome Powell mentioned the possibility of a mid-term interest rate cut several times in the press conference and that the interest rate cut level and range suggested in the September dot plot are still valid, it is interpreted that the Fed's interest rate cut stance will continue not only in December but also next year." iM證 viewed that the base interest rate would be additionally cut by 25bp at the December FOMC. It was predicted that the base interest rate would drop to the mid-level of 3.5%% if the upward pressure on prices does not intensify next year. However, researcher Park noted that Chairman Powell did not mention the impact of Trump's re-election on the economy. Chairman Powell emphasized in the press conference that "at this point, it is impossible to know the policy changes, and in the short term, the election results do not affect the decision on the easing policy." Researcher Park also noted that the possibility of Chairman Powell's resignation is unlikely, stating, "Considering the situation where Chairman Powell's resignation is unlikely, the national bond interest rate is expected to enter a stable phase." He explained, "There is a possibility that the national bond interest rate will gradually maintain stability due to the expectation of an interest rate cut in December and the stabilization of price increases." Furthermore, "Not only the U.S. but also major countries like the UK are continuing the cycle of interest rate cuts, and the possibility of major countries strengthening comprehensive policies to prevent economic recession is being raised," he said, adding, "If the scale of China's fiscal stimulus announced today exceeds market expectations, the expectation of global liquidity expansion will also be strengthened." Jinyoung Ki, Hankyung.com reporter

Elon Musk, the CEO of Tesla, expressed his intention to operate the U.S. government's 'Government Efficiency Committee (D.O.G.E)' with maximum transparency. On the 13th (local time), Elon Musk announced through his X (formerly Twitter) that "all activities of the Government Efficiency Committee will be disclosed online to ensure transparency." He further explained, "This will allow feedback on parts that are considered wasteful in the public's perspective. Also, a ranking of people who use taxes in the most inefficient way will be disclosed."

The National Pension, known for investing in Bitcoin (BTC) related stocks such as CoinBase and MicroStrategy, has reportedly gained a profit margin three times the investment amount. According to the industry on the 13th, the National Pension holds 2,656,460 shares of CoinBase Global (NAS:COIN) and 2,450,000 shares of MicroStrategy (NAS:MSTR) as of September. The previous day, CoinBase and MicroStrategy closed at $319.13 and $356.59 respectively, which is about three times the average purchase price of the National Pension, which was $95.69 and $146.34. The National Pension's investment in Bitcoin-related stocks amounts to a total of 612.7 million dollars, and currently, the value has jumped threefold to 1.7214 billion dollars. This is analyzed as an effect of all Bitcoin-related stocks rising as Donald Trump recently won the U.S. presidential election.

Image = Shutterstock Bitcoin (BTC) is experiencing a rapid rise, and there is analysis that altcoins (excluding Bitcoin) are also rebounding. Some altcoins are entering the overbought zone, indicating caution is needed. According to FXEmpire on the 12th (local time), Alex Kuptsikevich, a senior market analyst at FXPro, stated, "Bitcoin is continuing to rise, breaking through the upper resistance, and the next target is expected to be around 110~100k," while also mentioning that "altcoins are also rallying sharply, and short-term resistance is being tested." The analyst noted, "Dogecoin (DOGE) and Cardano (ADA) have more than doubled in value over the past five days, but they are seen as being in an overbought state," adding that "altcoins may experience more turbulent movements in the coming weeks. Investors might consider strategies to purchase altcoins that have increased average (lower) profitability." On the other hand, the term 'soft squeeze' refers to investors who had been selling when Bitcoin prices were rising, now covering their short positions or reducing their losses by purchasing it.

Donald Trump, the former President of the United States, might appoint John Gallagher as the Chief Legal Officer (CLO) of Robinhood to the Securities and Exchange Commission (SEC) if he wins the November election. According to a Politico report adopted by Cointelegraph on the 8th (local time), former SEC officials stated that "Gallagher is a strong candidate to be appointed as a commissioner of the SEC under Trump." Gallagher served as an SEC commissioner from 2011 to 2015 and has been working as the Robinhood CLO since 2020. Meanwhile, in July, Trump announced that if elected as President, he would replace the current SEC Chairman Gary Gensler from the first day of his term.

, , transmission and member registration confirmation code "OOO" (employee name fraud) input dissemination , , , , , access dissemination and personal information theft [Bithumb Site Fraud Example 2] For other related damage reports or inquiries, please contact the Bithumb Customer Center (1661-5566) immediately. Bithumb is committed to providing the best service to protect our members' assets and ensure safer transactions. Thank you. No.1 Fake Asset Platform, Bithumb. Recently, there have been attempts to impersonate Bithumb employees to protect investment leads, personal information leaks, event winners, etc., by providing fake assets, and we ask for your individual attention to prevent damage. [Employee Fraud Case] 1. Access to email and personal messenger with stock investment leads, personal information leaks, event winners, etc. 2. Impersonating Bithumb employees and transmitting the following phishing names and reemployment certificates [Employee Fraud Name and Phishing Reemployment Certificate Example] Attempting to provide fake assets through transmission links, unverified app installation, phishing creation, KYC name identity verification, and personal information requests Bithumb does not provide or sell fake asset guidance through email or messenger in any case. Bithumb is also working to prevent damage and fraud cases such as telecommunications financial fraud by providing the following guidance for investor protection. [Notice] Bithumb Trading Support (Fraud) Fraud Alert and Application Method Guidance [Notice] Telecommunications Financial Fraud Alert (Prosecutor Fraud) [Notice] Bithumb Impersonation Fraud Alert [Notice] Telecommunications Financial Fraud Alert (Smishing Type) [Notice] Telecommunications Financial Fraud Alert (Media Company Voice Phishing Scenario) For other related damage reports or inquiries, please contact the Bithumb Customer Center (1661-5566) immediately. Bithumb is committed to providing the best service to protect our members' assets and ensure safer transactions. Thank you.
In the first half of this year, it was found that 70%% of the transaction volume in the domestic virtual asset (cryptocurrency) exchanges was traded through Upbit. According to the industry on the 2nd, Kim Hyun-jung, a member of the Democratic Party of Korea, analyzed the 'Current Status of Virtual Asset Exchanges' submitted by the Financial Supervisory Service, and the total transaction volume of the five major virtual asset exchanges this year was calculated to be 1,087 trillion won. Among them, Upbit recorded a transaction volume of 770 trillion won, accounting for 70.6%% of the total. Upbit has consistently recorded a market share exceeding 70%% since 2021. Looking at the annual transaction volumes of virtual asset exchanges from 2021 to the first half of 2024, Upbit recorded 3,557 trillion won (2021), 1,166 trillion won (2022), 934 trillion won (2023), and 770 trillion won (first half of 2024). In the same period, the transaction volumes of other exchanges were as follows: Bithumb 795 trillion, 258 trillion, 196 trillion, 280 trillion; Coinone 203 trillion, 59 trillion, 24 trillion, 21 trillion; Korbit 19 trillion, 4 trillion, 5 trillion, 10 trillion; Gopax 21 trillion, 1 trillion, 2 trillion, 6 trillion. Calculating this, Upbit's market share for each period is 77%%, 78%%, 80%%, and 70.6%%.
On the 1st, according to the virtual asset industry, the Southern Seoul District Prosecutors' Office conducted a compulsory search on Upbit and Bithumb with reference to their involvement in virtual asset crimes. This search was conducted to investigate virtual assets currently under suspicion of market manipulation and illegal activities, targeting trading firms that have listed these assets. The virtual assets in question were listed and traded at two domestic exchanges in April, and suspicions of market manipulation and illegal activities by major personnel were raised. The prosecution is conducting a compulsory search on these trading firms to request data. However, the virtual assets related to this search are separate from the case handed over to the prosecution by the Financial Supervisory Service regarding 'unfair trading of virtual assets' and also separate from the AVAIL coin, which was flagged by the National Intelligence Service for market manipulation suspicions. A Bithumb official stated that there was nothing to confirm regarding the search. Source: IT Chosun (https://it.chosun.com)
On the 6th, domestic virtual asset exchange Kobit announced that it will hold a Bitcoin (BTC) price prediction event. Kobit will conduct the event from today until the 10th to commemorate the 1 trillion won turnover of Bitcoin recorded in March 2024. During the event period, Kobit will select over 200 customers who purchase more than 100,000 won worth of Bitcoin and respond to the price prediction survey, and distribute Bitcoin equivalent to up to 5 million won. A Kobit official stated, "Through this event, we aim to increase interest in Bitcoin and add fun to price predictions." After experiencing a temporary decline following the March report, Bitcoin is currently on an upward trend along with the U.S. presidential election announcement. Investors' expectations and interest in whether the price will rise again after the recent 1 trillion won turnover are increasing. Detailed information and participation methods for the Bitcoin price prediction event can be checked through Kobit's official homepage and app.
Donald Trump, who succeeded in the re-election, is reportedly considering candidates for the position of friendly asset inspector (deregulation) in agencies including the U.S. Securities and Exchange Commission (SEC). According to a report by Washington Post on the 1st (local time), Trump is preparing to nominate a friendly asset inspector to major agencies like the SEC, aiming to adopt a government stance on virtual assets. The media reported, "Trump is looking for candidates for key positions in the virtual asset industry, and is negotiating with industry personnel regarding temporary changes in regulatory policies and related issues," adding, "The current candidate for the SEC chair is Daniel Gallagher, former SEC commissioner, a Republican, Hester Peirce, and Mark Uyeda, an SEC commissioner." Test 10%%)

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There is an analysis that Bitcoin (BTC), which has recently reached its highest price, may soon undergo a short-term adjustment. According to CoinDesk's data on the 11th (local time), the gap between Bitcoin's price and the 200-hour simple moving average (SMA) has widened the most since early March. At that time, Bitcoin had plummeted by 11%%. The media explained, "Bitcoin's strong rally continues, but there is an excessive aspect," adding, "The fact that the price of Bitcoin has widened from the SMA indicates that the market has moved rapidly. Investors can reassess their positions and realize profits." It further stated, "The 14-hour relative strength index (RSI), which predicts price movements, shows a low value, indicating a temporary downward trend," adding, "This suggests that the strong momentum is weakening and a sharp drop is possible soon."
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<Today's Main Economic Schedule>nu25b611th (Mon): No major eventsn<Today's Main Cat Event Schedule>nu25b611th (Mon): u25b3Popcat Token 11.31 million mentions, u25b3Cheese Blackie Bang Bang Contest u25b3Swoogan Shikiyoung AMA u25b3DuneCon24 Event u25b3De.Fi World 2024 u25b3Cardano (ADA) Token 18.53 million mentionsnYou should keep menWhen you look at my mysterious eyes, can't you guess where I'm from?nLook at my legs, the people who like you say they like menEven if I want to be mischievous, I can't because it's too shortnWhen you see this line, doesn't it look similar to my body structure?nn

According to the professional media CryptoSlate on the 8th (local time), BlackRock's Bitcoin (BTC) spot ETF (IBIT) has raised $26.174 billion this year, recording the third highest annual inflow among U.S. market index funds (ETF). The initial yield is 48.52%%, and the operating assets amount to $30.1 billion.

The abolition of the Financial Investment Income Tax (Capital Gains Tax) has effectively been confirmed, revealing challenges for the '2-Year Grace Period for Virtual Assets (Deferral of Taxation)'. On the 8th, a related person from the Democratic Party's Policy Committee communicated with Bloomingbit, stating, "Although there is no discussion on the abolition of the capital gains tax, it is expected that a grace period will be granted for the sake of equity in the situation where the Financial Investment Income Tax is abolished." The capital gains tax, scheduled to be implemented on January 1st next year, primarily targets gains from the transfer and lending of virtual assets according to the Income Tax Act. If the income exceeds 2.5 million won annually, a tax of 22%% (including local tax) is imposed. Domestic investors have strongly opposed the excessive taxation on virtual assets, which are not protected, and as a result, the government proposed a plan in July to extend the start of the capital gains tax from the existing 2025 to 2027 by two years. Although the government announced the grace period plan, the Democratic Party, which had shown opposition to the government's stance, held the majority, making it uncertain whether the grace period plan would pass the National Assembly. In this situation, the Democratic Party's leadership recently expressed their intention to abolish the Financial Investment Income Tax, gaining support for the grace period and abolition opinions. Accordingly, the grace period plan for the capital gains tax is expected to be confirmed by 2027. On this day, Min Byung-deok, a member of the Democratic Party, also stated to Bloomingbit, "The virtual asset sector should be recognized as an industry through the Commercial Act, and it can be seen as a fair taxation," adding, "Currently, it is correct that the capital gains tax is being deferred." On the other hand, if the capital gains tax is deferred, it is pointed out that as much as the extended time, clear regulations related to virtual assets should be established, and a systematic taxation standard, infrastructure, and consumer protection measures should be structured. In particular, issues such as the approval of monthly settlement funds, expansion of basic exemption amounts, and other tax equity issues are highlighted as major resolution tasks. Hwang Doo-hyun, Son Min, Bloomingbit reporter

Korea-US Interest Rate Gap 1.5%%P Exchange Rate Policy 'Variable' Changes US Interest Rate Lowered, but Exchange Rate Remains High Still High at 1380 Won Level Increase in Household Debt Also Noted Experts Say "Interest Rate Freeze Likely" Economic Burden Requires Lower Rates, but Two Months of Consecutive Rate Cuts 'Speed Adjustment' Lee Chang-yong, Governor of the Bank of Korea. Photo=Kim Beom-joon, Korea Economic Daily Reporter The US Federal Reserve (Fed) lowered its policy interest rate by 0.25 percentage points, but the Bank of Korea's exchange rate policy remains uncertain. Although the won-dollar exchange rate, which surged before the US presidential election, has slightly decreased (appreciation of the won), it is not at a reassuring level, and household debt issues have not been resolved. The expectation is that it will be difficult for the Bank of Korea to continuously lower the interest rate, which started the pivot (exchange rate policy shift) last month. Narrowed Korea-US Interest Rate Gap On the 7th (local time), the Fed decided to lower the policy interest rate from 4.75-5.0%% to 4.50-4.75%% by 0.25 percentage points at the Federal Open Market Committee (FOMC) regular meeting, narrowing the interest rate gap with Korea (3.25%%) from 1.75 percentage points to 1.50 percentage points. The interest rate gap between the two countries stimulates capital movement towards the higher interest rate side. The higher interest rate in the US is a factor that draws capital outflows from Korea and increases the won-dollar exchange rate. With the Fed's interest rate cut, the interest rate gap has narrowed, and the exchange rate fell on this day. In the Seoul foreign exchange market, the won-dollar exchange rate (as of 3:30 PM) traded at 1386.40 won, down 10.20 won from the previous day. Although the Fed's interest rate cut was a relief for the exchange rate, the level remains high. The exchange rate rose more than 6%% from 1307.80 won at the end of September. Lee Chang-yong, Governor of the Bank of Korea, recently stated in a meeting with reporters that "the exchange rate, which was not a concern at the October Monetary Policy Committee, has become a concern." Another key factor in the Bank of Korea's interest rate decision is the financial stability situation, which is not severe. Although the financial authority's household debt increase, which surged to 10 trillion won in August, decreased significantly to 5 trillion won in September, it rebounded to 6 trillion won last month. Despite Growth Concerns, 'No Change' in November Decision Despite this, the price and growth indicators strongly suggest the need for an interest rate cut. The consumer price index rose 1.3%% last month, the lowest level since January 2021 (0.9%%). The need to maintain high interest rates for price stability has disappeared. The domestic gross domestic product (GDP) grew by 0.1%% in the third quarter. According to the International Monetary Fund (IMF), several global investment banks (IBs) recently lowered their growth forecasts for Korea this year from 2.5%% to 2.3%% by 0.2 percentage points. This governor also stated last month that "the possibility of this year's growth rate falling below 2.4%% (the Bank of Korea's previous forecast) is high," suggesting a range of 2.2-2.3%%. The reason for the growing call for an interest rate cut is to alleviate the economic burden. Experts predict that the possibility of lowering the base rate at the Monetary Policy Committee meeting on the 28th of this month is low when considering such a dilemma comprehensively. Cho Young-gu, a researcher at Shinhan Financial Investment, predicted that "as the exchange rate increase is more burdensome than economic deterioration, the Bank of Korea will decide to freeze the interest rate this month." The Bank of Korea emphasizes that the situation in Korea is different from that of the US, which continuously lowered interest rates at the FOMC in November following September. A Bank of Korea official said, "While the US raised interest rates rapidly from 0-0.25%% to 5.25-5.50%% annually, Korea raised them by 3 percentage points from 0.50%% to 3.50%% annually," adding, "As the pace of increase was faster, the pace of decline will also be felt." It is analyzed that Korea does not have to choose continuous rate cuts like the US. The possibility that the US interest rate cut speed could be faster than market expectations due to Donald Trump's victory in the presidential election is also a factor that supports the 'speed adjustment theory.' If Trump's definitive fiscal policy, tax cuts, and other measures become a reality, it could act as a factor for price increases. Yoo Sang-dae, Deputy Governor of the Bank of Korea, said at a market situation inspection meeting related to the US presidential election and FOMC on this day, "The uncertainty surrounding the major countries' exchange rate policies has increased," adding, "We will closely monitor the impact of US policy changes on our financial and economic conditions and respond as needed." Reporter Kang Jin-kyu

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