Consumer confidence in South Korea came in at 113.0 in November compared with a previous 117.0 in October to record the first decline in eight months as a result of concerns about the strength of recovery in the world economy. The Bank of Korea decided to keep borrowing costs at the low record of 2.0% for the ninth meeting as the bank aims at supporting economic recovery and avoiding more won gains against the dollar.

However, the South Korean economy expanded in the third quarter by 2.9% from the previous three months that is the fastest pace in seven years, worth mentioning that the Korean economy was one of few major economies managed to avoid technical recession when it expanded 0.1% in the first quarter.