The Korea Times

9-month-old baby saves 3 lives through organ donation

A 9-month-old baby who died after contracting bacterial meningitis has saved the lives of three people through organ donation, the Korea Organ Donation Agency said Thursday. Jang So-min was declared brain-dead at Samsung Medical Center on May 1 after her condition rapidly deteriorated following days of high fever, according to the agency. With her parents' consent, the infant's liver, kidneys and small intestine were donated after her death to three patients in need of transplants. The infant first developed a fever on April 19 and was treated at a local pediatric clinic, but her symptoms persisted for several days. After visiting multiple hospitals, she was diagnosed with bacterial meningitis and later declared brain-dead. Born last July weighing 2.5 kilograms, Jang remained physically fragile throughout her short life, weighing just over 7 kilograms at 9 months old, according to her family. Her family said a cherry blossom outing this spring became their final memory together. Her mother, surnamed Park, said she initially opposed organ donation but later agreed after discussions with her

May 29, 2026By Lee Hyo-jin

9-month-old baby saves 3 lives through organ donation

Economy

BOK lifts 2026 growth forecast to 2.6% from 2% on strong chip exports

The Bank of Korea (BOK) raised its 2026 growth forecast to 2.6 percent from its previous projection of 2 percent, Thursday, citing a robust outlook for the country's semiconductor exports amid the global artificial intelligence (AI) boom. The central bank viewed continued strength in the chip sector as outweighing the economic downturn risks stemming from the prolonged conflict in the Middle East. "The sustainability of the current improvement in growth will ultimately depend on how long the current semiconductor cycle lasts," BOK Gov. Shin Hyun-song said during a press conference. "There are expectations that the semiconductor cycle would remain strong for a considerable period, as chip prices could stay elevated and semiconductors are not products whose supply can be ramped up quickly in the short term," he added. Shin also stressed that the benefits of the semiconductor boom would spread across the broader economy, dismissing concerns that gains would be concentrated solely in the chip sector. "The semiconductor sector will benefit the most directly at first, but there will also be tri

May 28, 2026By Lee Hyo-jin

BOK lifts 2026 growth forecast to 2.6% from 2% on strong chip exports

Economy

BOK's rate hike clock speeds up amid oil-fueled inflation pressure

The Bank of Korea (BOK) faces mounting pressure for further monetary tightening as a spike in global oil prices triggered by conflict in the Middle East fuels inflation and pushes up the won-dollar exchange rate. Market analysts increasingly expect the central bank to resume rate hikes in the second half of the year. BOK Gov. Shin Hyun-song is set to chair a Monetary Policy Board meeting on Thursday, his first since taking office in April, with markets closely watching for signals on his policy direction. The central bank has kept its benchmark interest rate unchanged for seven consecutive meetings after cutting it to 2.50 percent in May last year. The bank is widely expected to keep rates unchanged at the upcoming meeting, while signaling the possibility of future rate hikes. "In our base case, we expect BOK to deliver an evidently hawkish hold decision at 2.50 percent policy rate at the meeting," said Kim Jin-wook, chief economist at Citibank Korea. Surging oil prices and the won's sharp decline against the dollar are adding to inflation concerns and reinforcing expectations of monetary

May 25, 2026By Lee Hyo-jin

BOK's rate hike clock speeds up amid oil-fueled inflation pressure

Economy

Korea to open ETF, ETN trading to foreign investors

The Korean government is moving to allow foreign investors to directly trade exchange-traded funds (ETFs) and exchange-traded notes (ETNs) through omnibus accounts, expanding market access beyond individual stocks as authorities seek to attract more foreign capital into the local market. According to financial authorities, Sunday, the Financial Services Commission (FSC) is seeking revisions to regulations on financial investment business to allow foreign investors to directly invest in locally listed ETFs and plans to issue a prior notice in June. The proposed revision would expand the scope of assets tradable through foreign omnibus accounts — currently limited to stocks — to include ETFs and ETNs. The omnibus account system allows foreign investors to trade Korean equities directly through overseas brokerages, without the need to open separate accounts with local securities firms. The move follows remarks by FSC Chairman Lee Eog-weon during a press conference on Thursday. "There are growing requests from foreign retail investors who want to invest in Korean stocks, but the instituti

May 24, 2026By Lee Hyo-jin

Korea to open ETF, ETN trading to foreign investors

Economy

Producer price shock adds pressure on BOK for rate hike

Korea's producer prices rose at the fastest monthly pace in more than 28 years in April, adding pressure on the Bank of Korea (BOK) to consider a rate hike later this year as inflation risks mount, analysts said Thursday. The producer price index, a key gauge of future inflation trends, climbed 2.5 percent from a month earlier in April, according to preliminary data released by the central bank. The increase marked the steepest monthly rise since February 1998, when producer prices jumped 2.5 percent during the Asian financial crisis. On a yearly basis, producer prices rose 6.9 percent in April, marking the sharpest increase since October 2022. The surge was driven largely by rising fuel and raw material costs linked to the ongoing Middle East conflict, the central bank said. "As the Middle East conflict continues, supply disruptions and rising raw material prices are expected to spread across various sectors with a time lag, putting upward pressure on producer prices and eventually consumer inflation as well," Lee Moon-hee, head of the BOK's price statistics team, said during a briefing.

May 22, 2026By Lee Hyo-jin

Producer price shock adds pressure on BOK for rate hike

Companies

Kumyang's delisting puts Busan business community on edge

The delisting of battery maker Kumyang from the stock market is sending shockwaves through the business community in Busan, where the company is headquartered, marking a dramatic downfall for what was once one of Korea's hottest secondary battery stocks. The company filed a court injunction Thursday seeking to suspend the delisting, a day after the Korea Exchange (KRX) decided to remove it from the benchmark KOSPI following two consecutive years of disclaimer audit opinions. The legal filing temporarily puts the delisting process on hold, though market watchers said the chances of the court granting the injunction appear slim. The bourse operator's decision has rattled Busan officials, as Kumyang had long been viewed as a key player in the city's push to foster future growth industries centered on batteries. After signing an investment memorandum of understanding with Kumyang in January 2023, the Busan Metropolitan Government supported the company through administrative efforts to designate the region as a special business zone for secondary batteries and mobility industries. Following th

May 21, 2026By Lee Hyo-jin

Kumyang's delisting puts Busan business community on edge

Economy

'Criteria makes no sense': Frustration grows over fuel aid cutoff

Lee, a school teacher in her 30s living in Seoul's Yangcheon District, said she was surprised to learn she did not qualify for the government's fuel price relief payment for the bottom 70 percent income bracket. After checking her eligibility through a banking app, Wednesday, she found that she did not meet the criteria for the payout. "Teachers' salaries are not that high," Lee said. "I don’t understand how I ended up being classified in the top 30 percent income bracket. I think the assessment may have reflected my household's combined assets, but I have personal loans under my name. Honestly, I feel like I'm the one who should be receiving the support." The government on Monday began distributing a second round of fuel price relief payments to around 36 million people, or roughly 70 percent of the population in lower income brackets, as households grapple with high fuel costs amid the prolonged conflict in the Middle East. Eligible recipients receive between 100,000 won ($66) and 250,000 won depending on their region of residence, with larger payments going to residents in nonmetrop

May 21, 2026By Lee Hyo-jin

'Criteria makes no sense': Frustration grows over fuel aid cutoff

Cryptocurrency

Planned crypto tax rollout faces growing investor backlash

A planned taxation on digital assets set to take effect next year is facing growing backlash from crypto investors, who warn the measure could weaken Korea's digital asset market. According to the National Assembly's online petition portal, a petition calling for the abolition of the planned crypto tax had gathered more than 45,000 signatures as of 3 p.m., Wednesday, within a week of being posted on May 13. If the number surpasses 50,000 by June 12, the proposal will be referred to a parliamentary committee for review. Under the current tax law, gains from the transfer or lending of virtual assets will become taxable starting Jan. 1, 2027. Profits exceeding 2.5 million won ($1,650) will be taxed at 22 percent, including local taxes, with the first filings scheduled for May 2028. The measures were originally set to take effect in January 2025, but was delayed by two years following a bipartisan agreement reached in December 2024. Korea is estimated to have around 13 million virtual asset investors, making the country one of the world's largest retail crypto markets. Critics argue the move t

May 21, 2026By Lee Hyo-jin

Planned crypto tax rollout faces growing investor backlash

Banking & Finance

Moody's sees limited impact on banks from Korea's 'inclusive finance' push

The government's push to expand lending to small businesses and vulnerable borrowers is unlikely to have a significant impact on banks' profitability and capital adequacy, a Moody's analyst said Tuesday, as the agency maintained a stable outlook on Korea's banking sector. "Considering banks' responses and the current operating environment, the overall impact of the inclusive finance policy agenda does not appear to be as meaningful as we initially expected," Arlene Sohn, assistant vice president and analyst at Moody's Ratings, said during a media briefing in Seoul. Sohn said Moody's had initially expected the government's inclusive finance and productive finance initiatives to put downward pressure on banks' capital positions by increasing exposure to higher-risk corporate loans and lower-credit borrowers. "As banks move away from mortgage-focused business models toward corporate lending, particularly to small businesses and lower-credit borrowers, we expected average risk weights to rise and create downward pressure on capital," Sohn said. "We also expected profitability to weaken as l

May 19, 2026By Lee Hyo-jin

Moody's sees limited impact on banks from Korea's 'inclusive finance' push

Economy

Korea Securities Depository expands non-face-to-face shareholder services

Korea Securities Depository (KSD) is expanding non-face-to-face shareholder services, allowing retail investors to recover unclaimed stock-related assets online, the securities settlement agency said Tuesday. Through its website, shareholders can apply online to receive small-value unclaimed shares and payments that previously required in-person visits and paper documentation. The service covers stock dividends and bonus shares left undistributed because shareholders were unaware of them, as well as unpaid dividends that went uncollected following address changes or missed notifications. Under the system, users can apply via smartphone to receive unclaimed shares valued at up to 5 million won ($3,300) and unpaid balances of up to 1 million won after completing identity verification procedures, including mobile authentication, ID verification and bank account confirmation. The services are available only for companies that appoint KSD as their transfer agent, the agency noted. The development comes as Korea's financial sector pushes to digitalize investor services and reduce paper-based ad

May 19, 2026By Lee Hyo-jin

Lee Hyo-jin

Read more

9-month-old baby saves 3 lives through organ donation

BOK lifts 2026 growth forecast to 2.6% from 2% on strong chip exports

BOK's rate hike clock speeds up amid oil-fueled inflation pressure

Korea to open ETF, ETN trading to foreign investors

Producer price shock adds pressure on BOK for rate hike

Kumyang's delisting puts Busan business community on edge

'Criteria makes no sense': Frustration grows over fuel aid cutoff

Planned crypto tax rollout faces growing investor backlash

Moody's sees limited impact on banks from Korea's 'inclusive finance' push

Korea Securities Depository expands non-face-to-face shareholder services

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