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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

Persistent inflation gives President Lee grounds to consider price controls

Consumer prices in Korea have repeatedly breached the 2 percent inflation target, underscoring ongoing instability and possibly giving President Lee Jae Myung further justification for government-led price control measures. According to the Ministry of Data and Statistics, Thursday, consumer prices rose 2.1 percent over a year earlier in September, after slowing to 1.7 percent year-on-year in August. Last month’s inflation rebound came after inflation stayed above the Bank of Korea’s 2 percent target from January to April, briefly dipped to 1.9 percent in May and then rose back above 2 percent for the next two months. The ministry attributed the rise above 2 percent to increasing prices of processed items, livestock, seafood and other staple goods. In September, processed items jumped 4.2 percent, contributing 0.36 percentage points to the overall inflation rate. Among the most affected were coffee, which surged 15.6 percent; bread, up 6.5 percent; fisheries, up 6.4 percent; and livestock products, up 5.4 percent. Dining-out prices increased 3.4 percent, driven by higher delivery fees

Oct 2, 2025By Yi Whan-woo
Persistent inflation gives President Lee grounds to consider price controls
Policy

Concerns rise over foreign landlords failing to return tenant deposits

Kim, who had recently completed graduate school and started a new job, needed to move out of his studio apartment near campus. He tried to contact his landlord to retrieve his deposit but received no response. He later discovered that the landlord, a Chinese national, had left Korea and was no longer reachable. With no way to recover his deposit directly, Kim turned to the Korea Housing and Urban Guarantee Corp. (HUG), a state-run company that compensates victims when landlords default on rental deposits. Nearly six months after his lease expired, Kim finally received his deposit back via HUG. But the troubling experience left a lasting mark. “The experience made me cautious about renting from foreign landlords, as I wouldn’t have gotten my deposit back without HUG’s help,” Kim said, requesting anonymity to protect his privacy. Kim’s experience is part of a growing number of cases involving foreign landlords who fail to return tenant deposits — a rising concern as more foreign nationals purchase property in Korea. According to HUG data obtained by Rep. Kim Hee-jung of the Peop

Oct 1, 2025By Yi Whan-woo
Concerns rise over foreign landlords failing to return tenant deposits
Economy

Korea, US reaffirm commitment to avoiding currency manipulation amid tariff talks

Korea and the United States have reaffirmed their commitment to not manipulate currencies for an unfair trade advantage, as part of their “2+2” dialogue tied to stalled tariff negotiations, the Ministry of Economy and Finance said Wednesday. The finance ministry said Korea also agreed to confidentially share monthly data on its market stabilization measures with the U.S. The data will include foreign exchange reserves and forward position details, which Korea currently discloses publicly on a quarterly basis. The deal was reached during a meeting between Deputy Prime Minister and Finance Minister Koo Yun-cheol and U.S. Secretary of the Treasury Scott Bessent in New York, Sept. 24 (local time). The meeting was part of broader negotiations involving the top two finance and commerce officials on either side, following a bilateral summit on Aug. 25. “Korea and the U.S. reaffirmed the fundamental principle of exchange rate policy — that neither side will manipulate the value of its currency to gain an unfair competitive advantage or hinder the effective balance of payment adjustments,

Oct 1, 2025By Yi Whan-woo
Korea, US reaffirm commitment to avoiding currency manipulation amid tariff talks
Others

Wedding costs in capital area 1.7 times higher than in rest of country

The cost of getting married in Seoul and the greater capital area is 11.54 million won ($8,200) higher — or about 1.7 times more — than in the rest of the country, largely driven by prices in Seoul’s upscale southern districts, such as Gangnam, a report showed Tuesday. Based on a survey of 504 wedding service companies nationwide conducted from Aug. 18 to 29, the Korea Consumer Agency reported that couples in Seoul, Incheon and Gyeonggi Province spent an average of 26.65 million won on weddings. In comparison, couples outside the capital region spent an average of 15.11 million won — a difference of 11.54 million won, making a wedding in Seoul roughly 1.7 times higher in price. Compared to June, wedding costs in the capital region rose by 4.3 percent in August, while costs in regions outside the capital area fell by 1.9 percent. The pace of increase in the capital area also outpaced the national average, which saw a 4.1 percent rise to 21.6 million won. The agency said that the increase in capital-region wedding costs was largely driven by a 5.2 percent rise in Gangnam, where aver

Sep 30, 2025By Yi Whan-woo
Wedding costs in capital area 1.7 times higher than in rest of country
Economy

20-somethings' real income growth slowest amid irregular job increases, surging food costs

Park So-yun, a 28-year-old bookkeeper, says she struggles to make ends meet as her salary fails to keep pace with the rising costs of essentials such as groceries, rent and other living expenses. She says she often relies on her parents, who are in their 50s and have a higher real income — income adjusted for inflation — than she does. “Even after cutting costs as much as possible, everything is more expensive, and my paycheck barely keeps up, forcing me to ask my parents for financial support,” Park said. Her case highlights the deteriorating real income conditions among people in their 20s, who, despite being employed, are financially worse off than older generations. According to the Federation of Korean Industries (FKI) Monday, those in their 20s have experienced the lowest real income growth of any age group over the past decade. The annual real income growth rate for 20-somethings averaged just 1.9 percent in the FKI’s analysis of generational income trends from 2014 to 2024. The real income growth was 2.1 percent for people in their 40s, 2.2 percent for those in their 50s,

Sep 30, 2025By Yi Whan-woo
20-somethings' real income growth slowest amid irregular job increases, surging food costs
Banking & Finance

Securities firms climb brand rankings on KOSPI rally

Securities companies have made noteworthy advances in corporate brand value rankings, driven by a bullish stock market that recently saw the benchmark KOSPI surpass the 3,400-point mark for the first time. According to Brandstock, a research firm specializing in brand valuation, Tuesday, Mirae Asset Securities ranked 16th among Korea’s top 100 corporate brands for the third quarter of 2025. The company rose from 20th place in the third quarter of 2024, becoming the only brokerage firm to break into the top 20 — a list largely dominated by manufacturing and other commercial companies. Mirae Asset Securities’ rise came as the firm surpassed 1,000 trillion won ($713.11 billion) in client assets, solidifying its position as the nation’s leading brokerage house. Other brokerage firms also improved their rankings over the same period. KB Securities moved up three spots to 25th, while Samsung Securities climbed five places to 39th, benefiting from its affiliation with the Samsung brand. Hana Securities modestly improved from 85th to 83rd. Shinhan Securities made its debut in the top 100 a

Sep 30, 2025By Yi Whan-woo
Securities firms climb brand rankings on KOSPI rally
Banking & Finance

Mirae Asset Global Investments tops $321 billion AUM

Mirae Asset Global Investments has surpassed 450 trillion won ($321.42 billion) in total assets under management (AUM), constantly reaching new benchmarks as it advances its global expansion, the company said Monday. After becoming the first Korean asset management firm to expand overseas in 2003, the company’s AUM reached 250 trillion won in 2022, 305 trillion won in 2023, 378 trillion won in 2024 and surpassed 400 trillion won in May this year. The company’s growth reflects its embrace of cutting-edge technologies, including artificial intelligence (AI) and blockchain, which are reshaping the asset management industry and opening new frontiers for digital finance. “The growth embodies innovation and trust, and we are continuously securing new growth drivers to reinforce our position as a leading global asset manager,” it said. The company currently manages 456 trillion won in AUM across 16 regions, including the United States, Australia, Canada, Hong Kong, India and Japan. Around 45 percent of the firm’s total assets are managed overseas, reflecting its success in delivering i

Sep 29, 2025By Yi Whan-woo
Mirae Asset Global Investments tops $321 billion AUM
Others

Korean investors flock back to US stocks over market uncertainty

Korean investors are increasingly turning to U.S. equities as volatility in the domestic stock and currency markets intensifies, fueled by stalled trade talks between Korea and the United States. According to data from the Korea Securities Depository, Korean investors poured $1.34 billion into U.S. stocks from Sept. 19 to 25. This represents a nearly 14-fold surge from just $96 million the previous week, highlighting a sharp pivot in investment behavior. In constrast, data from the Korea Financial Investment Association showed that investor deposits increased steadily in that same date range to reach 75.99 trillion won ($53.89 billion). Investor deposits refer to the total balance that investors hold in their brokerage accounts, meaning they are idle funds waiting to be invested in the stock market. They typically increase in proportion to expectations for future stock market gains. Analysts say the sudden capital shift reflects growing concerns over the Korean stock market’s stability, as expectations of a continued rally were undermined by rising uncertainties. The benchmark KOSPI, whic

Sep 28, 2025By Yi Whan-woo
Korean investors flock back to US stocks over market uncertainty
Others

Chipmaker-led KOSPI rally raises questions about broader investor benefits

The benchmark KOSPI is on a record-breaking rally, but whether the gains are broadly benefiting investors remains uncertain, as more than one-third of the gains are driven by just Samsung Electronics and SK hynix, analysts said Wednesday. Since Sept. 15, the main index has largely closed above the 3,400-point mark — a level it had never previously reached — after breaking a record that held for more than four years with a close of 3,314.53 on Sept. 10. Notably, KOSPI recorded back-to-back all-time closing highs earlier this week, ending at 3,468.65 on Monday and 3,486.19 on Tuesday, before slipping 0.4 percent to 3,472.14 on Wednesday. According to Korea Exchange (KRX) data, KOSPI rose 52.6 percent as of Monday from its 52-week intraday low of 2,284.72 on April 9, which was caused by concerns over tariffs imposed by the U.S. government on Korean imports. Over the same period, the total market capitalization of roughly 830 KOSPI-listed companies rose by 975.31 trillion won ($698.45 billion), from 1,880.17 trillion won to 2,855.48 trillion won. “But such impressive gains can be mislea

Sep 24, 2025By Yi Whan-woo
Chipmaker-led KOSPI rally raises questions about broader investor benefits
Others

Regional banks see delinquency rates rise as economic polarization deepens

Commercial banks that serve customers primarily in provincial areas are facing rising delinquency rates, as more borrowers fall behind on past due loan payments amid deepening economic divides. The challenging business environment for these regional lenders is in stark contrast with larger banks based in the Seoul metropolitan area, as well as fast-growing internet-only banks. Data compiled by four major regional lenders — Busan Bank, Kyongnam Bank, Jeonbuk Bank and Kwangju Bank — reported an average delinquency rate of 1.07 percent for the first half of the year. The rate rose from 0.61 percent from a year earlier, exceeding the 0.34 percent average recorded by the country’s four largest commercial banks operating nationwide — KB Kookmin, Shinhan, Hana and Woori. The 1 percent rate is widely considered the psychological red line for banking stability, industry officials said Wednesday. They said the breach reflects growing pressure on regional economies, where small and medium-sized enterprises (SMEs) and self-employed borrowers, the backbone of local lending, are increasingly st

Sep 24, 2025By Yi Whan-woo
Regional banks see delinquency rates rise as economic polarization deepens
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