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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World S.Korea BOK: construction holds key to local demand Reuters - Thursday, November 18 Send IM Story Print SEOUL, Nov 17 - South Korean central bank's chief said on Wednesday the private business sector was turning for the better and the construction sector would be crucial to revive domestic consumption. "Facility investment has been faring well. Going forwards, domestic demand will depend on construction," Bank of Korea Governor Kim Choong-soo said at the beginning of his first gathering with large business' chief executives. He hosted the meeting with six company heads, including KT <030200.KS> CEO Lee Suk-chae, at the central bank's head office. The construction sector has been lagging the broader economy with sluggish housing transactions, pulling small-sized builders to the brink of collapse. But housing prices across the nation edged up for a second straight month in October, and banks' household lendings climbed to a five-month high following government steps unveiled in late August to boost the slackening housing market. [ID:nSEV000201] [ID:nSUL000193] On Tuesday, the Bank of Korea said mortgage lending has continued to increase on a relatively large scale, even though real estate transactions have been inactive, shortly after it raised interest rates by a quarter point to 2.50 percent. Recommend Send IM Story Print Related Articles US-BUSINESS Summary Reuters - 38 minutes ago Mexico's Carlos Slim eyes New York for retail expansion Reuters - 38 minutes ago Obama to award Warren Buffett Medal of Freedom Reuters - 46 minutes ago Collahuasi mine says makes final offer to end strike Reuters - 47 minutes ago Coal miner Massey's CEO says seeking acquisitions Reuters - 55 minutes ago News Search Top Stories Prince William's wedding to fit austere times in Britain Alleged Russian arms dealer pleads not guilty GM poised for world-beating share sale Ireland facing crisis talks with EU/IMF mission US airport security staff touch a nerve More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Prince William and Kate wedding to fit austere times Pilgrims stone 'devil' as Muslims celebrate Eid High-caffeine energy drinks linked to alcohol abuse Swiss pharmaceutical giant Roche to shed 4,800 jobs France warns of deadly diabetes drug More Most Viewed » Alcohol more harmful than heroin, crack cocaine: study Toddler survives seven-floor fall in France EU fines 11 airlines 800 million euros for air cargo cartel Pilgrims stone 'devil' as Muslims celebrate Eid 'Naked' airport scanners may be 'dangerous' More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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