The Korea Times

KOSPI tops 6,000 intraday on hopes for US-Iran deal despite Hormuz blockade

KOSPI briefly reclaimed the 6,000 mark during intraday trading Tuesday, supported by renewed optimism that the United States and Iran could eventually reach a deal, even as Washington moved to block the Strait of Hormuz. The Kosdaq and the Korean won also moved higher. The benchmark index opened at 5,960.00, up 151.38 points, or 2.61 percent, from the previous session, and climbed to 6,000.18 at around 10:12 a.m. It later pared gains to close at 5,967.75, up 159.13 points, or 2.74 percent. It marked the first time KOSPI had risen back above the 6,000 level during intraday trading since March 3, the first trading session following the outbreak of the U.S.-Iran conflict, when it touched an intraday high of 6,180.45. On that day, however, the index plunged 7.24 percent to finish at 5,791.91. The KOSPI had set a record by breaking above the 6,200 level for the first time on Feb. 26, but has since experienced heightened volatility amid uncertainty surrounding the Middle East conflict. On a closing basis, it last ended above 6,000 on Feb. 27, at 6,244.13, just before the war began. The secondar

Apr 14, 2026By Jun Ji-hye

KOSPI tops 6,000 intraday on hopes for US-Iran deal despite Hormuz blockade

Others

Prolonged Middle East war casts shadow over Korea's 2% growth goal

The prolonged U.S.-Israel war on Iran is putting growing pressure on Korea’s exports and other economic activity, casting doubt on the government’s 2 percent economic growth goal for this year, economists said Tuesday. Following the outbreak of war in the Middle East in late February, downside risks to the Korean economy have grown. The country is expected to be hit particularly hard due to its heavy dependence on crude oil imports from the region, threatening the government’s growth target. Recent forecasts from major economic institutions generally place Korea's 2026 growth in the upper 1 percent range. The OECD lowered its outlook for Korea’s economic growth to 1.7 percent from 2.1 percent on March 26, marking a 0.4 percentage point decline, while the International Monetary Fund on Tuesday maintained its forecast for this year at 1.9 percent, unchanged from its January estimate. The Asian Development Bank and the ASEAN+3 Macroeconomic Research Office also projected growth at 1.9 percent. The impact of the Middle East war had been relatively limited in key economic indicators l

Apr 14, 2026By Jun Ji-hye

Prolonged Middle East war casts shadow over Korea's 2% growth goal

Others

KOSPI, won weaken as US-Iran tensions spark oil price spike

KOSPI failed to extend its two-session winning streak Monday as the collapse of initial ceasefire talks between the United States and Iran, along with Washington’s subsequent move to impose a maritime blockade on Tehran, weighed on recently improved investor sentiment. The benchmark index opened at 5,737.28, down 121.59 points, or 2.08 percent, from the previous session, before closing at 5,808.62, down 50.25 points, or 0.86 percent. Secondary bourse Kosdaq also opened lower at 1,076.85, down 16.78 points, or 1.53 percent, but pared its losses to close at 1,099.84, up 6.21 points, or 0.57 percent, from the previous session. Rising tensions in the Middle East, which drove global oil prices above $100 per barrel, also put pressure on the Korean won. The currency opened at 1,495.4 won per dollar in the Seoul onshore foreign exchange market, weakening by 12.9 won from the previous session, and closed at 1,489.3 won. The won had stayed in the lower 1,480 range on Friday, the previous trading day, finishing regular trading at 1,482.5. However, the renewed downward pressure pushed it closer t

Apr 13, 2026By Jun Ji-hye

KOSPI, won weaken as US-Iran tensions spark oil price spike

Policy

Corporate-owned real estate under scrutiny as gov't moves to raise holding taxes

A sweeping government review of corporate-owned, nonbusiness real estate is underway after President Lee Jae Myung called for tougher measures to raise the holding burden on such assets, officials said Monday. As part of the move, the National Tax Service (NTS) launched a comprehensive inspection of more than 2,600 high-value homes worth over 900 million won ($605,000), each held by corporate entities. The probe will examine whether controlling shareholders and their families have occupied these properties without paying fair compensation, potentially evading taxes. Other relevant ministries, including the Ministry of Finance and Economy, are also preparing to conduct a review of corporate nonbusiness land holdings. On Thursday, Lee called for a review of measures to impose heavier holding costs on nonbusiness real estate owned by companies, in line with the government’s push to strengthen holding taxes, such as the comprehensive real estate tax and property tax. The move is aimed at curbing real estate speculation, stabilizing the market and promoting more efficient use of corporate-

Apr 13, 2026By Jun Ji-hye

Corporate-owned real estate under scrutiny as gov't moves to raise holding taxes

Policy

BOK governor nominee signals prolonged rate pause as policy seen near neutral level

Bank of Korea (BOK) Gov. nominee Shin Hyun-song suggested that Korea’s benchmark interest rate is currently around the midpoint of the neutral range, according to an opposition lawmaker on Sunday. The remarks imply that, under his leadership, the central bank is likely to maintain its pause in rate adjustments for the time being, adopting a measured approach that considers both inflation and growth rather than pursuing abrupt policy shifts. In a written response to an inquiry from Rep. Chun Ha-ram of the minor Reform Party, Shin said the current policy rate of 2.5 percent “lies near the middle of the neutral rate range estimated by the BOK using a range of models.” The neutral rate is generally understood as the theoretical level of interest that neither fuels inflation nor constrains economic growth, and is typically derived through model-based analysis. Shin, who served as the head of the monetary and economic department at the Bank for International Settlements, had been widely viewed as leaning hawkish, largely due to his prior emphasis on financial stability and proactive infl

Apr 12, 2026By Jun Ji-hye

Policy

Fiscal strain builds as expansionary policy continues

Concerns are growing over the country’s fiscal soundness as government debt topped 1,300 trillion won ($877 billion) in 2025, rising by about 130 trillion won in a single year to a record high, experts said Thursday. Further adding to the concerns, the government is maintaining an expansionary fiscal stance, with additional supplementary budgets expected to put further pressure on public finances amid the prolonged Middle East conflict. The government projects the debt could climb to nearly 1,800 trillion won by 2029. Experts warned that the most pressing concern is the pace of increase, underscoring the need for a balanced approach that maintains fiscal discipline while directing spending to priority areas. According to the government’s 2025 fiscal year settlement report, which was approved Monday, government debt stood at 1,304.5 trillion won, up 129.4 trillion won from a year earlier. The figure exceeded the original budget estimate of 1,301.9 trillion won by 2.6 trillion won, marking an all-time high. The debt-to-GDP ratio rose to 49 percent from 46 percent a year earlier and is

Apr 10, 2026By Jun Ji-hye

Fiscal strain builds as expansionary policy continues

Banking & Finance

Biglink AI reshapes insurance marketing with hyper-personalized chatbot

Biglink AI is transforming marketing practices in the traditionally face-to-face insurance and financial sales sectors by leveraging artificial intelligence (AI) that generates customer-specific personas and learns individual agents’ sales scripts. In an interview with The Korea Times, CEO Kim Si-young said the number of insurance agents surpassed 600,000 as of 2023, while the industry still relies heavily on in-person interactions. In this environment, personalized planning and tailored communication are critical, but the quality of training has not kept pace with the rapid increase in agent numbers. Delivering customized consultations that meet diverse customer needs also remains a challenge. The Korean startup sees an opportunity in addressing these gaps, using AI to improve agents’ sales efficiency. The company has introduced an AI-powered chatbot that leverages customer segment data to generate personalized personas, identify risk factors, suggest similar target groups and create tailored sales scripts. "The solution is designed to help insurance and financial sales managers and

Apr 9, 2026By Jun Ji-hye

Biglink AI reshapes insurance marketing with hyper-personalized chatbot

Others

Seoul fuel prices top 2,000 won as oil rises on Iran tensions despite ceasefire hopes

Domestic fuel prices continued their upward trajectory Tuesday, with average gasoline prices in Seoul surpassing 2,000 won ($1.33) per liter, even as hopes grew for a ceasefire between the United States and Iran. According to Opinet, a fuel price information system operated by the state-run Korea National Oil Corp., the nationwide average gasoline price reached 1,964.7 won per liter, up 6.4 won from a day earlier. Diesel prices rose by the same amount to 1,955.6 won. In Seoul, the increase was steeper. Gasoline averaged 2,000.3 won per liter, up 9.9 won from a day earlier, while diesel climbed 11.6 won to 1,979.6 won. This marks the first time in three years and eight months that Seoul’s average gasoline price has returned to the 2,000-won range. The last time it happened was on July 25, 2022, when it hit 2,005 won amid the Russia-Ukraine war and prolonged high global oil prices. On Jeju Island, where gasoline prices are the highest in the country, the average had already exceeded 2,000 won per liter on Saturday and continued to rise. On Tuesday, it increased 4.4 won to reach 2,019.2 w

Apr 7, 2026By Jun Ji-hye

Seoul fuel prices top 2,000 won as oil rises on Iran tensions despite ceasefire hopes

Law & Crime

Drug seizures increase in Q1 as more travelers are involved in smuggling

A total of 302 drug smuggling cases, involving 180 kilograms of substances, were intercepted at the border in the first quarter of 2026, Korea Customs Service (KCS) Commissioner Lee Myeong-ku said Monday. While this marked a 13 percent increase in the number of cases from a year earlier, when a record high was set, the total volume declined by 5 percent. A breakdown by smuggling route shows a notable surge in traveler-based cases, both in frequency and volume. By contrast, express cargo shipments saw fewer cases but a slight uptick in volume, while international mail recorded declines in both measures. "The shift indicates that smuggling channels, which had leaned heavily on mail and express cargo during the COVID-19 pandemic, are now reverting to traveler routes," Lee said during a press conference. In terms of drug types, the overall volume was driven by major methamphetamine seizures, including 24 kilograms from Canada via express cargo and 16 kilograms carried by a traveler from Thailand. Authorities also flagged signs of diversification, as heroin intended for personal use, which had

Apr 6, 2026By Jun Ji-hye

Drug seizures increase in Q1 as more travelers are involved in smuggling

Companies

Roller coaster stock: Sam Chun Dang Pharm surges over 400%, then plunges amid doubts

Sam Chun Dang Pharm, which once topped the Kosdaq by market capitalization, has been experiencing heightened volatility in recent weeks, drawing intense investor attention, industry officials said Monday. The stock briefly rose to 1.18 million won ($783) per share late last month, buoyed by strong optimism surrounding its oral insulin project and a licensing deal with a U.S. partner, lifting the company to the top of the Kosdaq. However, allegations that the deal had been overstated, along with doubts about the sustainability of the rally, soon sparked controversy and sent the share price tumbling by nearly half within just three days. CEO Chun In-seok, the company’s largest shareholder, sought to contain the fallout by canceling a planned large-scale block sale and holding a press conference. Earlier on Monday, the company said Chun had withdrawn his plan, first disclosed on March 24, to carry out a 250 billion won block sale. He had intended to sell 265,700 shares through after-hours transactions between April 23 and May 22 to raise funds for gift tax and other tax liabilities. Rever

Apr 6, 2026By Jun Ji-hye

Jun Ji-hye

Read more

KOSPI tops 6,000 intraday on hopes for US-Iran deal despite Hormuz blockade

Prolonged Middle East war casts shadow over Korea's 2% growth goal

KOSPI, won weaken as US-Iran tensions spark oil price spike

Corporate-owned real estate under scrutiny as gov't moves to raise holding taxes

BOK governor nominee signals prolonged rate pause as policy seen near neutral level

Fiscal strain builds as expansionary policy continues

Biglink AI reshapes insurance marketing with hyper-personalized chatbot

Seoul fuel prices top 2,000 won as oil rises on Iran tensions despite ceasefire hopes

Drug seizures increase in Q1 as more travelers are involved in smuggling

Roller coaster stock: Sam Chun Dang Pharm surges over 400%, then plunges amid doubts

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