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Mirae Asset Securities launches global pension desk as Korea’s retirement market grows

Mirae Asset Securities has launched the industry’s first dedicated service platform for multinational corporations operating in the country as Korea’s retirement pension market rapidly approaches 400 trillion ($272 billion) in assets, the company said Wednesday. The brokerage said the newly established global pension desk is designed to support global companies that must navigate both Korea’s retirement pension regulations and the stricter risk management and compliance standards imposed by their overseas headquarters. The initiative reflects the growing demand from multinational firms operating in Korea for specialized pension services that can address complex regulatory requirements while aligning with global corporate governance and risk frameworks. To support the initiative, Mirae Asset Securities earlier this year created a new global corporate solutions division focused exclusively on multinational corporate clients. The desk is supported by a specialist network consisting of experts from multiple disciplines. Through this network, the firm provides integrated consulting servi

Mar 11, 2026By Lee Kyung-min
Mirae Asset Securities launches global pension desk as Korea’s retirement market grows

Banks roll out support programs as part of inclusive finance drive

Major banks are expanding programs to support marginalized and low-income groups, as the financial sector intensifies efforts to promote “inclusive finance” in response to growing concerns over widening social inequality, market watchers said Tuesday. The initiatives reflect a broader shift in the banking industry toward greater social responsibility, with lenders launching programs that go beyond traditional financial services to address structural challenges. Shinhan Bank said it will establish “Shinhan SOL Remio,” the first orchestra in Korea’s banking sector composed entirely of musicians with developmental disabilities . It will consist of 40 performers hired directly by the bank. In addition to musicians, the bank will also select trainees to build a system that supports both professional development and employment opportunities for people with disabilities, helping participants strengthen their skills while securing stable jobs. The bank also plans to provide a range of performance opportunities to expand participation in cultural and artistic activities for people with

Mar 10, 2026By Lee Kyung-min
Banks roll out support programs as part of inclusive finance drive

Korea's per capita income edges up 0.3 pct to stay in $36,000 range amid weak won

Korea's per capita income edged up 0.3 percent in 2025 to remain in the $36,000 range, as the depreciation of the Korean won against the U.S. dollar offset actual solid income growth, central bank data showed Tuesday. Nominal per capita gross national income (GNI) stood at $36,855 last year, marking a 0.3 percent increase from a year earlier, according to the preliminary data from the Bank of Korea (BOK). In terms of the won, the GNI climbed 4.6 percent from a year earlier to 52.42 million won in 2025. The figure first surpassed $30,000 in 2014 and continued to rise, nearing $38,000 in 2021. But it fell to the $35,000 range in 2022 before rebounding to $36,195 in 2023. Growth then slowed to 1.5 percent in 2024 and 0.3 percent last year, keeping the figure in the $36,000 range for the third straight year. Nominal gross domestic product (GDP) grew 4.2 percent on-year to 2,663.3 trillion won in 2025 but declined 0.1 percent in dollar terms to $1.87 trillion amid the weaker won. The value of the Korean won per dollar declined 4.3 percent last year amid imbalances in foreign exchange supply and

Mar 10, 2026By Yonhap
Korea's per capita income edges up 0.3 pct to stay in $36,000 range amid weak won

Korean won rebounds sharply after hitting 17-year low amid Middle East crisis

The Korean currency rose sharply against the U.S. dollar Tuesday, rebounding from a steep drop the previous day, after U.S. President Donald Trump hinted that the war in the Middle East could end soon. The won was quoted at 1,469.3 per dollar, up 26.2 won from the previous session's 1,495.5 won, marking its first gain in three trading sessions. The currency had weakened sharply since last week, falling to its lowest level since March 12, 2009, when the country was reeling from the global financial crisis. The weakness was in line with a broad dollar rally amid risk-off sentiment following the U.S.-Israeli attacks on Iran. Foreign sell-offs in the local stock market also contributed to the weakening of the Korean won. But Trump's remarks eased concerns about a prolonged, broader regional war and potential disruptions to global oil supplies. Also helping sentiment was news that the Group of Seven major economies were preparing to implement "necessary" measures in response to surging global oil prices. "Volatility in the foreign exchange and financial markets is likely to continue depending o

Mar 10, 2026By Yonhap
Korean won rebounds sharply after hitting 17-year low amid Middle East crisis

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

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

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

Retail investors ramp up leveraged bets as Iran conflict destabilizes markets

Kim, a 38-year-old office worker in Seoul, recently withdrew an additional 30 million won ($20,000) from his bank overdraft account to buy domestic semiconductor stocks after their prices fell sharply during market turmoil triggered by the Iran crisis. “With market volatility rising, I saw sharp pullbacks as buying opportunities,” he said. “Deposit rates are not attractive enough, so I increased my investment exposure using leverage.” Lee, a 45-year-old self-employed resident of Gyeonggi Province, also moved more than half of his 100 million won in maturing time deposits into a brokerage account. “Even if deposit rates rise a bit, it is hard to grow assets meaningfully through savings alone,” Lee said. “When the stock market swings sharply, I believe there are opportunities to buy in installments, so I increased my investment funds.” Investor appetite for leveraged bets is rising as geopolitical tensions increase in the Middle East, helping to push Korean stocks into swings exceeding 10 percent and amplifying market volatility. As of last Thursday, the outstanding balance

Mar 8, 2026By Jun Ji-hye
Retail investors ramp up leveraged bets as Iran conflict destabilizes markets

Iran crisis leads to rare fuel price reversal between diesel, gasoline

Korea is witnessing a rare reversal in fuel pricing amid the widening U.S.-Israel war on Iran, with diesel now costing more than gasoline at many domestic gas stations despite benefiting from lower fuel taxes. Real-time data from the Korea National Oil Corp'.s Opinet website showed that as of 5 p.m. Friday, the nationwide average price of diesel was 1,887.38 won ($1.28) per liter, while gasoline averaged 1,871.83 won per liter. The website showed the price trend in 10 of 17 municipalities and regions, including Seoul, Incheon, Ulsan and Gyeonggi Province. The trend emerged in the wake of the U.S.-Israeli military strikes on Iran on Feb. 28, reflecting the limits of Korea’s tax policy in favor of diesel amid a global tightening of the fuel’s supply, according to industry officials. They noted that diesel had long been sold at a lower price than gasoline in Korea, supported by a policy that levies 240 won less in tax per liter. The policy is aimed at curbing fuel consumption by ordinary drivers who mostly use gasoline-powered vehicles, thereby helping to reduce greenhouse gas emissions.

Mar 6, 2026By Yi Whan-woo
Iran crisis leads to rare fuel price reversal between diesel, gasoline

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
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