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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

Seoul stocks plunge on renewed AI bubble fears

The benchmark KOSPI tumbled 2.85 percent to finish slightly above 4,000 points, Wednesday, as fears of an artificial intelligence (AI) bubble in the U.S. triggered a heavy sell-off across Asian stocks. Most experts said the sharp decline, however, is likely to remain a short-term market correction rather than signaling a prolonged downturn. After repeatedly hitting record closing highs in recent sessions, the KOSPI ended at 4,004.42 points, down 2.85 percent from Tuesday’s close. This followed an overnight decline in the U.S. where the S&P 500 fell 1.17 percent and the tech-heavy Nasdaq dropped 2.04 percent amid concerns over valuations in top AI stocks that have driven the bull market. The Seoul index opened at 4,055.47 points and fell below 4,000 points in less than two hours. At one point, it dropped more than 6 percent to 3,867.81 points, marking the first time in eight trading days it has fallen below 3,900. The steep fall triggered a sidecar trading curb as the KOSPI 200 futures index — a basket of the top 200 stocks — fell 5.2 percent from the previous day’s close. The decl

Nov 5, 2025By Yi Whan-woo
Seoul stocks plunge on renewed AI bubble fears
Economy

KOSPI soars to another record high

An electronic board at the Korea Exchange in Seoul’s financial district of Yeouido shows the benchmark KOSPI closing at a record high of 4,221.87 points, Monday, up 2.78 percent from the previous session. The main index broke the unprecedented 4,200-point level as its rally accelerates, having previously surpassed 4,000 points on Oct. 27 and 4,100 points on Oct. 31. Yonhap

Nov 3, 2025By Yi Whan-woo
KOSPI soars to another record high
Policy

Foreigners' homebuying falls to 3-year low as tougher transaction rules take effect

Foreigners bought the fewest number of homes in nearly three years in Seoul and the greater capital area last month, reflecting the impact of a policy aimed exclusively at preventing speculative purchases by buyers from abroad, government data showed Monday. Compiled by the Supreme Court, the online data on registered transactions, legal ownership rights and other nationwide real estate information showed 560 foreigners completed ownership transfers for multiunit buildings in Seoul, Gyeonggi Province and Incheon in October. By nationality, Chinese nationals accounted for the largest share at 438, followed by Americans at 133 and Canadians at 33. Last month’s figure is the lowest level since February 2023, when 427 foreigners purchased properties, ranging from apartments, the most popular housing option in Korea, to more affordable single-family homes and villas. The tally also marks a decline for two straight months, down from 976 in September, following a period of consecutive increases earlier this year through August, when the number reached 1,051. Industry officials attributed the s

Nov 3, 2025By Yi Whan-woo
Foreigners' homebuying falls to 3-year low as tougher transaction rules take effect
Others

Major Kosdaq firms’ exodus to KOSPI adds to market divide concerns

Major listed companies are departing from the junior bourse Kosdaq to the benchmark KOSPI, adding to concerns over a widening gap between the two exchanges in market value, according to industry officials, Monday. Alteogen and Ecopro BM, the largest and second-largest Kosdaq companies by market capitalization, are planning to move to KOSPI, with Alteogen formalizing its listing in late September and Ecopro BM reviewing the details of a potential transfer. Together, the two companies represent nearly 9 percent of Kosdaq’s total market capitalization, highlighting the scale of potential losses for the secondary bourse. This trend follows a long history of major Kosdaq companies migrating to KOSPI. Since its launch in July 1996 as a tech-heavy market with a baseline of 100 points, a total of 54 Kosdaq firms have shifted to the main bourse. These companies included Naver, Celltrion, Kakao, POSCO Future M, POSCO DX, and L&F. Over the past three decades, Kosdaq has struggled to gain traction, hovering in the 900-point range, while KOSPI, which began at a baseline of 100 points in January 1980

Nov 3, 2025By Yi Whan-woo
Major Kosdaq firms’ exodus to KOSPI adds to market divide concerns
Banking & Finance

Effectiveness of shared bank branches, ATMs called into question

Commercial banks have been adopting joint retail branches and shared ATM booths to balance in-person and digital services, but the strategy’s effectiveness remains uncertain because banks’ operational practices vary, industry officials said Friday. Data compiled by the Financial Supervisory Service showed that the four largest commercial banks — KB Kookmin, Shinhan, Hana and Woori — reduced their combined branch network by 26 percent, from 3,625 in 2019 to 2,688 in June. Their ATMs also fell, from 33,707 in 2020 to 25,987 in July. These reductions, driven by the rise of non-face-to-face transactions and ongoing cost-cutting, have increasingly excluded customers with limited digital skills, such as some older adults, from banking services. In response, the banks have partnered to open joint branches and shared ATMs to cut costs while maintaining access to in-person banking services. These branches were intended to increase convenience by allowing customers to complete most transactions in one place, with multiple banks sharing a single location to provide services such as deposits

Nov 1, 2025By Yi Whan-woo
Effectiveness of shared bank branches, ATMs called into question
Economy

KOSPI eyes further gains on boost from Korea-US tariff deal

The Seoul stock market is expected to accelerate its gains after surpassing the 4,000-point mark, with the long-awaited conclusion of the Korea-U.S. tariff deal likely to support further growth, analysts said Thursday. Experts noted that the bilateral deal clears up uncertainties for the export-reliant Korean economy, as details on levies for automobiles, shipbuilding and related companies were finalized during the summit between the leaders of the two countries in Gyeongju, North Gyeongsang Province, Wednesday. The conclusion came after the benchmark KOSPI topped an unprecedented 4,000 points on Monday, supported by investment sentiment surrounding the 2025 Asia-Pacific Economic Cooperation (APEC) meetings in Gyeongju. “The investment confidence surrounding the APEC meetings was somewhat vague, but it has become more concrete after the Korea-U.S. summit and the conclusion of the tariff negotiations,” said Jung Eui-jung, head of the Korean Stockholders’ Alliance. He added that the KOSPI could aim for 4,100 points within a week. The KOSPI closed at 4,086.89 points on Thursday, gainin

Oct 30, 2025By Yi Whan-woo
KOSPI eyes further gains on boost from Korea-US tariff deal
Banking & Finance

Brokerages find YouTube fame through AI

Securities firms are capitalizing on artificial intelligence (AI) to create eye-catching YouTube videos that are going viral, defying the long-held view that their content is overly technical, information-heavy and stuffy, industry officials said Wednesday. Among the most active players are Samsung Securities and Mirae Asset Securities, which have been using AI to create ads, from blockbuster-style clips to trendy music videos, helping each channel attract over 2 million YouTube subscribers. Samsung Securities is considered a front-runner in AI-driven YouTube content, with its subscriber base reaching 2.64 million. Its recent clip promoting mPOP, the company’s mobile trading system (MTS) app, gained significant attention with a sci-fi movie–style advertisement created entirely with AI, from actors and background music to visual effects. “The video naturally highlights mPOP as an easy-to-use MTS app with various convenient features,” a Samsung Securities PR official said, adding that the clip’s high level of polish also made it suitable for TV broadcast. Samsung Securities’ AI

Oct 30, 2025By Yi Whan-woo
Brokerages find YouTube fame through AI
Banking & Finance

Mirae Asset accuses Brookfield of unreturned IFC deposit despite arbitration ruling

Mirae Asset Global Investments accused Brookfield, a Canadian multinational investment firm, Wednesday, of failing to comply with an international arbitration ruling in its favor over a botched property deal in Seoul’s financial district of Yeouido. The asset management arm of Mirae Asset Financial Group said it is preparing further legal action against Brookfield, claiming the firm has not returned a 200 billion won ($139.5 million) deposit related to the deal, along with accrued interest and arbitration-related costs. “An international arbitration award is a legally binding and final judgment recognized by the international community,” the Korean firm said in a statement. “Nevertheless, Brookfield has refused to comply and continues to take an abnormal stance that seriously undermines trust and fair trading order in the global investment market." The statement came a day after the Tuesday deadline for Brookfield to pay back the 200 billion won deposit, with interest due and arbitration-related costs, as ordered by the Singapore International Arbitration Centre (SIAC) in its re

Oct 29, 2025By Yi Whan-woo
Mirae Asset accuses Brookfield of unreturned IFC deposit despite arbitration ruling
Others

Veteran designer engraves Korea’s legacy, APEC spirit onto commemorative coins

The commemorative coins for the 2025 Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting are the latest additions to a decades-long portfolio of finely crafted work by Kim Jae-min, a veteran designer at the Korea Minting, Security Printing & ID Card Operating Corp. (KOMSCO). Made of silver, the two-coin series features distinct cultural elements from Gyeongju — the host city of the APEC summit in North Gyeongsang Province — on their obverse sides. Coin I showcases the ornate lattice door pattern from Gwaneumjeon Hall at Bulguk Temple, symbolizing connection and prosperity. Coin II highlights Cheomseongdae, East Asia’s oldest astronomical observatory, representing Korea’s spirit of scientific innovation. The reverse side of both coins displays the official emblem of the 2025 APEC summit. Together, the designs embody the theme of the APEC Economic Leaders’ Meeting — “Building a Sustainable Tomorrow: Connect, Innovate, and Prosper.” These works reflect over 20 years of Kim’s dedication at KOMSCO, where he has honed his ability to convey a thoughtfully curate

Oct 29, 2025By Yi Whan-woo
Veteran designer engraves Korea’s legacy, APEC spirit onto commemorative coins
Policy

Housing market sentiment hits 4-year high, raising questions over policy effectiveness

Consumer sentiment toward home prices has reached its highest level in four years, casting doubt on the effectiveness of the government’s recent measures to cool the housing market. In a consumer sentiment survey released Tuesday, the Bank of Korea (BOK) said the housing price outlook index for October stood at 122, the highest since October 2021, when it was 125. A reading above 100 means that more consumers expect home prices to rise than to fall. The BOK noted that the index rose 10 points from the previous month, marking the sharpest increase since April 2022, when it also climbed by 10 points. The findings come despite the government’s introduction of three major housing regulations — on June 27, Sept. 7 and Oct. 15 — and about four months after President Lee Jae Myung took office. The measures included stricter mortgage lending rules and the expansion of speculation-prone zones, particularly in Seoul and surrounding metropolitan areas where housing demand remains high. The central bank said the survey results “do not sufficiently reflect the effects of the government’s la

Oct 28, 2025By Yi Whan-woo
Housing market sentiment hits 4-year high, raising questions over policy effectiveness
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