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Lee Kyung-min

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Korea braces for possible stagflation as soaring oil prices fuel inflation, dampen economic growth

Korea is facing a growing stagflation threat, as a surge in global oil prices coupled with a weakening currency pushes inflation higher, putting this year’s economic growth outlook of 2 percent under threat, market watchers said Monday. Stagflation is high inflation combined with slowing growth. The risk has been intensifying as international crude prices jumped above $100 per barrel for the first time in nearly four years, driven by escalating geopolitical tensions in the Middle East. Many warn the shock could ripple widely through Asia's fourth-largest economy, which remains highly dependent on imported energy and therefore particularly vulnerable to global commodity price swings. “The risk of stagflation is rising,” said Lee In-ho, former professor of economics at Seoul National University. “Rising oil prices can also weigh on global trade and disrupt logistics, creating headwinds for Korea’s export-dependent economy. Rising import prices can also shave off the country’s current account surplus.” At the same time, Lee warned that inflation driven by higher oil prices coul

Mar 9, 2026By Lee Kyung-min
Korea braces for possible stagflation as soaring oil prices fuel inflation, dampen economic growth
Others

AIA Life secures exclusive rights for advanced cancer treatment rider

AIA Life Insurance Korea has strengthened its cancer insurance offering after receiving nine months of exclusive usage rights for a new rider covering advanced medical treatments, a move that signals growing recognition of next-generation therapies within Korea’s insurance industry and could broaden patients’ access to costly but potentially life-saving procedures, the insurer said Monday. The company announced that its “Non-Participating Specific Advanced Medical Treatment Rider” was granted the exclusivity period by the Life Insurance Association of Korea. In the Korean insurance market, exclusive usage rights are awarded only to products that meet strict evaluation standards in originality, usefulness, innovation and development effort. A nine-month exclusivity period indicates that the product achieved high evaluation scores and prevents competitors from launching similar offerings during that time. The rider is designed to expand the scope of traditional cancer insurance by incorporating coverage for emerging medical technologies that are increasingly used when conventional

Mar 9, 2026By Lee Kyung-min
AIA Life secures exclusive rights for advanced cancer treatment rider
Others

Banks open more Sunday branches for foreign customers

John T. Emocling, 47, a welder from the Philippines who works at a factory in Pocheon, Gyeonggi Province, said he took a bus and a taxi to get to Hana Bank’s Euljiro branch in Seoul. “It took me 30 minutes by bus and another 20 minutes by taxi to get here,” he said. “But I took the time because this is the only branch that opens on Sunday. I can’t come during weekdays because of work.” He said he needed to send money back to his family in the Philippines. “I usually send them 1 million won ($673) a month. I heard about Hana Bank’s Euljiro branch from an online Filipino community where members share information about life in Korea," he said. “Many people recommended the branch, where people like me can go on Sundays. That’s why I’m here.” Similarly, Fhely de Castro, 52, a domestic worker and private English tutor, said it took her 45 minutes to get to the branch. “I have to send money to my family in the Philippines, including my son and my mom. I earn about 2.5 million won per month and send them about 1.5 million won.” What she liked most about the Euljiro br

Mar 9, 2026By Lee Kyung-min
Banks open more Sunday branches for foreign customers
Others

Samsung shareholders concerned as union strike looms

Samsung Electronics shareholders are growing increasingly uneasy as the company’s labor union moves toward a potential general strike, market observers said Friday. Concerns are rising that production disruptions could weigh on the tech giant’s stock after the Samsung Electronics union announced Thursday that it will hold a vote among members on whether to authorize strike action. If approved, the union plans to stage a joint protest at Samsung’s semiconductor plant in Pyeongtaek, Gyeonggi Province, on April 23, followed by a general strike from May 21 to June 7. The prospect of labor unrest at the world’s largest memory chipmaker is unsettling for many, as even a temporary disruption could hurt production and dampen investor sentiment. The concerns come as the benchmark KOSPI has been rocked by sharp swings following geopolitical tensions in the Middle East, leaving retail investors particularly sensitive to negative news surrounding blue-chip stocks. Investors criticized the union’s move as poorly timed, given the market turmoil. “The domestic stock market is already plunging

Mar 6, 2026By Lee Kyung-min
Samsung shareholders concerned as union strike looms
Others

Market turbulence causes glitches in trading apps, account balance screenshots go viral

Wild swings in Korea’s stock market this week triggered technical glitches at several brokerage trading apps, briefly showing incorrect balances and causing screenshots of unexpected windfalls to go viral among retail investors. The week of volatility followed sharp market moves, driven by the U.S. and Israel-Iran war. Upon reopening after the long weekend, the benchmark KOSPI fell for two consecutive days, dropping 7.24 percent on Tuesday and 12.06 percent on Wednesday, before rebounding 9.63 percent on Thursday and 0.02 percent on Friday. According to industry officials, the mobile trading system of Korea Investment & Securities displayed incorrect balance information for some retirement pension accounts shortly after the market opened Friday. In certain cases, the number of shares and returns shown in the app differed from the actual holdings. The glitch quickly drew attention online. Screenshots circulating on an online stock community showed brokerage accounts with an evaluation amount of about 530 million won ($360,000), along with comments such as, “This isn’t my account — w

Mar 6, 2026By Lee Kyung-min
Market turbulence causes glitches in trading apps, account balance screenshots go viral
Others

More people trade gold, silver on secondhand platforms as demand grows for safe-haven assets

Kim Ji-hoon, an office worker in his 30s, said he recently bought silver bars online, as he couldn’t find them anywhere else. “Prices keep rising, and everyone says precious metals are safer right now, especially in the wake of the Middle East war. When I saw someone selling one on a secondhand platform, I bought it immediately.” Similarly, Park Min-jung, an office worker in her 40s, said she sold a small gold bar through an online secondhand item platform after its price surged. “I bought it a few years ago just to have something tangible,” she said. “Now that gold prices are high, I realized I could easily sell it online. It felt like quick cash.” Not only precious metals but computer components are also drawing attention as tradable assets online. Lee Sung-ho, a university student who builds computers as a hobby, said he has recently begun tracking memory chip prices almost like a financial market. “DRAM prices have been rising, so I started checking resale platforms more often,” he said. “I bought a few RAM (random access memory) modules earlier this year when they

Mar 6, 2026By Lee Kyung-min
More people trade gold, silver on secondhand platforms as demand grows for safe-haven assets
Others

Hana partners with Circle, Crypto.com to support global stablecoin payments for foreign customers

Hana Financial Group has partnered with global digital asset firms Circle and Crypto.com to promote stablecoin-based payments for foreign visitors in the country, the group said Thursday. It is the latest effort by Hana to test real-world use cases for digital assets in the payment ecosystem here, part of a broader strategy to better prepare for the institutional bank-led adoption of won-denominated stablecoins. The initiative led by the group’s card subsidiary, Hana Card, will enable foreign customers visiting Korea to use stablecoin-mediated payment cards at local merchants. The program will involve U.S. dollar Coin (USDC), a dollar-backed stablecoin issued by Circle. One USDC is valued at one U.S. dollar. It will also give 5 percent cashback to foreign customers who hold a Crypto.com Visa card when they pay with it at participating merchants in Korea. Cardholders who have a balance or recharge history in USDC will be eligible. Hana said the program is designed to give inbound visitors experience with digital asset payments, while helping merchants tap into new demand from crypto users

Mar 5, 2026By Lee Kyung-min
Hana partners with Circle, Crypto.com to support global stablecoin payments for foreign customers
Others

More drivers filling up gas amid deepening Middle East crisis

Lee Soo-jin, an office worker in her 40s, said she didn’t want to wait until the weekend to fill her vehicle up with gas. “I was going to wait until Sunday, but after watching the news, it feels inevitable that prices will jump. My friend filled up at around low 1,600 won ($1.08) per liter. Now it’s well over 1,800 won. I wish I’d come earlier, but at least I made it today.” She initially thought the U.S.-Israel war on Iran would soon come to an end, but realized she was wrong. “Many said on the news Sunday that the benchmark KOSPI would not undergo a sharp correction, but the index fell rapidly for two straight days. Everything is changing so fast, and new things keep happening. At this point, I think not acting will cost me money. I will save what I can instead of waiting around.” Similarly, Han Sung-hwa, a woman in her 50s, said the gas prices are likely to go up in the coming days. “When I first heard the news, I thought gas prices would go up. But it was Sunday, so I stayed home. Now the news says many people are rushing to fill up the gas before the prices go up fur

Mar 5, 2026By Lee Kyung-min
More drivers filling up gas amid deepening Middle East crisis
Others

Gov't on alert over won's weakening amid Middle East crisis

Financial authorities are on high alert over a sharp weakening in the Korean currency relative to the U.S. dollar, officials said Wednesday. Bank of Korea (BOK) Gov. Rhee Chang-yong postponed his departure for meetings involving the International Monetary Fund (IMF) and Bank for International Settlements (BIS), turning back at the airport so he could preside over a high-ranking BOK meeting. Minister of Finance and Economy Koo Yun-cheol also said the ministry is closely monitoring movements in the foreign exchange (FX) market. The reactions followed the Korean currency depreciating past the psychologically significant 1,500 won per dollar overnight, the first time since March 2009 during the global financial crisis. The weakening was prompted by fears that the U.S.-Israel military operation against Iran could escalate. According to market data, the won weakened briefly to nearly 1,506 won per dollar at 12:22 a.m. early Wednesday. Hours later at 9 a.m., the currency opened at 1,479 won per dollar, down 12.9 won from the previous session. It then hit an intraday low of 1,484 won per dollar. Th

Mar 4, 2026By Lee Kyung-min
Gov't on alert over won's weakening amid Middle East crisis
Others

KRX strives to elevate KOSPI as one of world’s best capital markets on 70th anniv.

Korea must leverage the ongoing KOSPI rally to cement itself as a top-tier global capital market, competing head on with its advanced peers, the head of the bourse operator said Tuesday. Korea Exchange (KRX) Chairman Jeong Eun-bo said central to the drive will be continued market reforms to improve access for foreign investors. Included are English-language disclosures, extended trading hours and shorter settlement cycles in line with global norms, ultimately seeking inclusion in the MSCI Developed Markets Index. Short for Morgan Stanley Capital International, the index is a premier benchmark tracking large and mid-cap equities across 23 developed markets, covering roughly 85 percent of the free float-adjusted market capitalization. Korea is being considered for an upgrade to developed market status, which could take effect in 2027. “Our goal now is to become one of the world’s best capital markets,” Jeong said during a celebration of the 70th anniversary of the country’s securities market at Hotel Lotte in Seoul. “KOSPI has surged past 6,000 points and climbed to ninth place g

Mar 3, 2026By Lee Kyung-min
KRX strives to elevate KOSPI as one of world’s best capital markets on 70th anniv.
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