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Yi Whan-woo

Korea Times Politics & City Reporter

Yi Whan-woo is a Korea Times journalist primarily covering finance. He writes in-depth articles on macroeconomy and financial markets and previously covered sports, politics, diplomacy and inter-Korean affairs, among others. Feel free to contact him at yistory@koreatimes.co.kr.

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Economy

KOSPI surpasses 6,000 to close on new high

The benchmark KOSPI hit a record high Wednesday, closing above 6,000 points in an accelerated rally just 30 days after it finished above 5,000 points. The main index ended at 6,083.86 points, up 114.22 points, or 1.91 percent, from the previous session. It took three months — from Oct. 27, 2025, to Jan. 27 — for the index to rise from 4,000 to 5,000, closing at 5,084.85 points on Jan. 27, but the latest 1,000-point increase was attained in a much shorter span. The main index topped the 6,000-point mark at the start of the day, rising 0.89 percent to open at 6,022.70 points. It largely sustained upward momentum during intraday trading, surging as high as 6,144.71 points, although it dipped to 5,984.28 at one point. Institutional and retail investors were net buyers of more than 880 billion won ($615.85 million) and 228 billion won in stocks, respectively, while foreign investors were net sellers of 1.2 trillion won. Wednesday’s rally lifted KOSPI to a cumulative gain of more than 40 percent so far in 2026, far outpacing 2025 when it surged 75.6 percent to post the largest increase amo

Feb 25, 2026By Yi Whan-woo
KOSPI surpasses 6,000 to close on new high
Economy

No. of newborns hits 4-year high in 2025

Korea recorded its highest number of newborns in four years in 2025, with the total fertility rate rising from 0.7 to 0.8 for the first time since 2021, government data showed Wednesday. Data released by the Ministry of Data and Statistics showed a total of 254,457 babies born in 2025. The figure marked the highest level since 2021, when 260,562 newborns were reported. The number of newborns had dropped to 249,186 in 2022, 230,028 in 2023 and 238,317 in 2024. The rebound marks a turnaround in the trend of persistently low birthrates, which has exacerbated the challenges associated with an aging society. The number of newborns in 2025 rose by 16,140 from a year earlier, marking the second consecutive year of year-on-year increase, following a rise of 8,289 in 2024. In particular, the year-on-year change in 2025 represented the biggest increase since 2015, when the number of newborns rose by 35,332. The number of births in 2025 was led by women in their 30s, with those aged 30 to 34 recording 73.2 births per 1,000 women and those aged 35 to 39 at 52 births per 1,000. Those in their 20s saw l

Feb 25, 2026By Yi Whan-woo
No. of newborns hits 4-year high in 2025
Economy

Daiso to join BOK-led project to test central bank digital currency

Daiso, a popular Korean discount retailer, will join the second round of an experimental project to test the feasibility of central bank digital currency (CBDC), according to the Bank of Korea (BOK) and industry officials on Tuesday. A CBDC is a digital form of a country’s sovereign currency, issued and regulated directly by a central bank, and is considered more secure and stable than private or decentralized digital currencies. Dubbed Project Hangang, the BOK-led pilot involving Daiso will follow the first round that took place in 2025. “We expect this year’s test program will help the BOK accelerate the collection of transaction data from a range of customers,” an industry official said. He added that Daiso is popular in Korea among people of all ages, especially those in their 20s and 30s, offering a wide range of miscellaneous goods. Its affordable prices have also been attracting foreign tourists, making it a must-visit destination. Under the project, the BOK will issue CBDC to commercial banks, which will then create deposit tokens backed by the CBDC for consumers to use at

Feb 24, 2026By Yi Whan-woo
Daiso to join BOK-led project to test central bank digital currency
Economy

Investor-friendly policies, surging KOSPI drive higher dividend payouts

Investor-friendly return policies, along with a bullish stock market, are driving higher dividend payouts, which rose by more than 6 trillion won ($4.14 billion) last year among major listed companies, according to market observers and economists on Tuesday. They said dividend payouts are expected to rise further in 2026, noting that the Lee Jae Myung administration is reinforcing policies to empower investors while the benchmark KOSPI is rising faster than in 2025. “The pace of growth in shareholder returns could surpass 6 trillion won again this year,” said Jung Eui-jung, head of the Korean Stockholders’ Alliance, referring to data released by corporate tracker Leaders Index. The data showed that 694 major companies out of 2,651 listed companies paid 47.99 trillion won in dividends in 2025, marking an increase of 15.3 percent or 6.37 trillion won from 2024. Among the 694 companies, 371 increased their dividends, 106 kept their dividend amounts unchanged from the previous year and 65 began paying dividends after not doing so in 2024. The remaining 152 companies reduced their divid

Feb 24, 2026By Yi Whan-woo
Investor-friendly policies, surging KOSPI drive higher dividend payouts
Others

KOSPI marches toward historic 6,000 points

The benchmark KOSPI surged past 5,900 points during intraday trading on Monday, moving closer to the unprecedented 6,000-point mark just about a month after finishing above 5,000 points for the first time. The main index got off to a strong start, rising 1.63 percent to open at 5,903.11 points and quickly climbing to 5,931.86 points, following the U.S. Supreme Court’s ruling last week against so-called "reciprocal" tariffs imposed by President Donald Trump. The index later pared gains and closed at 5,846.09 points. Retail investors were net buyers of more than 1.08 trillion won ($749.39 million) in stocks, while foreign and institutional investors were net sellers of over 1.09 trillion won and 142 billion won, respectively. Hyundai Motor posted the steepest gain among the top 10 stocks, rising 2.75 percent to 523,000 won after the U.S. Supreme Court struck down Trump’s sweeping duties last Friday. Sister company Kia gained 0.52 percent to 172,700 won, as the Korean auto industry had been among the hardest hit by the tariffs, which varied by country and product. Market bellwether Samsun

Feb 23, 2026By Yi Whan-woo
KOSPI marches toward historic 6,000 points
Economy

Customs agency offers guidance on tariff refunds after US Supreme Court ruling

The Korea Customs Service (KCS) said Monday that it is providing detailed guidance to Korean exporters to the United States on obtaining refunds for tariffs previously paid, following last week’s U.S. Supreme Court ruling declaring the tariffs unconstitutional. KCS said that an estimated 6,000 of more than 24,000 Korean exporters to the U.S. could be eligible for refunds from the sweeping tariffs imposed by President Donald Trump last year on all goods entering the country. While the baseline duty was set at 10 percent, rates varied by country, with Korean products subject to a 15 percent levy. On Friday, the U.S. Supreme Court ruled that Trump had overstepped his powers by imposing these tariffs using a 1977 law known as the International Emergency Economic Powers Act. “Under the circumstances, we have been identifying companies that exported goods subject to reciprocal tariffs and product-specific tariffs, such as steel and aluminum, to the U.S.,” the KCS said. “We’re committed to providing each company with tailored information on U.S. refunds through customs offices nationw

Feb 23, 2026By Yi Whan-woo
Customs agency offers guidance on tariff refunds after US Supreme Court ruling
Others

Banks ramp up customer support as 'dementia money' increases

Commercial banks are ramping up support to safeguard assets belonging to customers diagnosed with dementia, with the disease being found more frequently as the country's population ages rapidly, according to industry officials, Friday. Dubbed “dementia money,” these assets, ranging from cash and bank deposits to real estate, are at risk of lying dormant and unused or being misused when affected customers are diagnosed and can no longer manage their finances independently. Wealth and assets held by people with dementia was projected to reach 172 trillion won ($118.69 billion) in 2025 — equivalent to 6.9 percent of gross domestic product — and is expected to climb to 200 trillion won in 2030 and 488 trillion won by 2050. The growth mirrors the sharp rise in dementia patients aged 65 or older, with the number expected to increase from 970,000 in 2025 to 1.21 million in 2030 and 2.26 million by 2050. In response, banks are setting up dedicated task forces, introducing specialized and simplified trust products and enhancing monitoring systems to prevent financial abuse by third partie

Feb 21, 2026By Yi Whan-woo
Banks ramp up customer support as 'dementia money' increases
Others

Banks court parents with high-interest savings for children’s Lunar New Year cash

Commercial banks are beckoning parents of minors to manage their children’s sebae money — the cash gifts given during the Lunar New Year in return for bowing to their elders — through lucrative savings options, industry officials said Thursday. The companies promote products with high annual interest rates, ranging from 5 percent to 10 percent, well above the typical 4 percent or less for standard accounts. “These companies are expected to attract new customers at the right time,” an industry official said, noting that the Lunar New Year holiday just ended Wednesday. Among mainstream offline lenders, KB Kookmin Bank offers a savings account with a maximum annual interest rate of 10 percent. Preferential rates are applied based on the number of children 18 and under and also whether the household receives child allowances. The product was launched again in November 2025, after its initial debut in August of the same year. It was introduced to help address Korea’s low birthrate and quickly sold out with a limited issuance of 50,000 accounts. As for internet-only lenders, KakaoBank

Feb 19, 2026By Yi Whan-woo
Banks court parents with high-interest savings for children’s Lunar New Year cash
Economy

30-somethings account for half of 1st-time homebuyers in Seoul

Cho Sung-jin and his wife, a dual-income couple in their mid-30s, took out every available loan to buy their first home in Seoul last year when the city’s apartment prices soared 8.71 percent from the previous year. That growth was the highest since 2013. Still, the couple were not alone among their peers in their 30s rushing to buy homes in Seoul, betting that tighter government lending rules would not curb prices. “I would say 30-somethings had an edge over other age groups, as we had more career experience and correspondingly higher incomes than those in their 20s, while also qualifying for loans for newlyweds or parents of newborns, unlike those in their 40s or older,” Cho said, noting that he was eligible for both types of loans. Cho highlights a record share of Koreans in their 30s among all first-time homebuyers in Seoul last year, as shown in the Supreme Court’s online property ownership data. The properties include apartments, the most popular form of housing in Korea, as well as more affordable options such as villas and officetels. Those in their 30s made up nearly half

Feb 19, 2026By Yi Whan-woo
30-somethings account for half of 1st-time homebuyers in Seoul
Economy

2026 wedding costs forecast to surge $2,000 over food-driven catering hikes

Wedding costs in Korea are projected to rise by over 3 million won ($2,070) this year between May and December compared to a year earlier, with catering — nearly 60 percent of total expenses — driven up by soaring food prices, according to data, Wednesday. The data, released by the Korea Consumer Agency, showed that the average cost of wedding services across 14 regions nationwide is expected to reach 20.93 million won over the eight-month period. The figure is up from 17.92 million won during the same period in 2025, marking an increase of 6.8 percent, or 3.01 million won. The costs include a combination of venue rental, simple stage decorations, studio photography, dresses, makeup and catering, with the largest increases expected during the peak wedding season. Compared to the same months in 2025, costs are forecast to rise by 6.37 million won to 21.58 million won in September and 1.16 million won to 20.62 million won in October. The increase is even steeper in Seoul’s affluent Gangnam area, where total wedding costs approached 50 million won as of December 2025. Even the contract

Feb 18, 2026By Yi Whan-woo
2026 wedding costs forecast to surge $2,000 over food-driven catering hikes
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