Seoul - South Korea's central bank on Monday announced its largest-ever rate cut, sinking its key rate by 0.75 percentage points to 4.25 per cent, as it seeks to stave off more dire repercussions from the global financial crisis.

The Bank of Korea said "a large cut in the base rate is called for in order to guard securely against the possibility of a sharp contraction of real economic activity against the backdrop of the large swings of the exchange rate and stock prices and the partial seizing-up of the credit markets."

Seoul - Shares on the Seoul stock exchange bucked slides on other Asian markets Monday, edging up after a larger-than-expected interest-rate cut by South Korea's central bank.

The local currency, however, continued to fall against the dollar.

The benchmark Kospi index rose 7.7 points, or 0.8 per cent, to close at 946.45 while the main index of the technology-heavy Kosdaq market declined 18.5 points to 261.19.

New Delhi - Hundreds of students joined a march in India's eastern state of Orissa to protest a proposed plant by South Korean steelmaker Posco, news reports said Monday.

The students carried banners and posters at Dhinkia in the coastal district of Jagatsinghpur, about 100 kilometres south of Orissa's capital, Bhubaneswar, the IANS news agency reported, citing police.

Posco, or the Pohang Iron and Steel Co, signed a deal with the Orissa government in June 2005 to build a steel plant in Jagatsinghpur by 2016. The project has been delayed by months of protests by thousands of villagers claiming it would deprive them of their homes and livelihoods.

Seoul - South Korea's central bank on Monday announced its largest-ever rate cut, sinking its key rate by 0.75 percentage points to 4.25 per cent, as it seeks to stave off more dire repercussions from the global financial crisis.

The Bank of Korea said "a large cut in the base rate is called for in order to guard securely against the possibility of a sharp contraction of real economic activity against the backdrop of the large swings of the exchange rate and stock prices and the partial seizing-up of the credit markets."

Seoul - North and South Korea have agreed to launch a new round of military issues talks after a previous round broke up without result, Seoul said Saturday.

The Defence Ministry said the new round would take place on Monday at a border point on the western coastline, near the South Korean city of Paju.

Pyongyang had proposed new talks on Friday, after the previous round had broken up without result some three weeks ago.

The talks are aimed at improving lines of communication between the armed forces of the two Korean states.