Economy - The Korea Times

International traveler spending up 30%, non-Seoul transactions rise

International travelers to Korea spent more last year, with the increase in consumption spreading outside the Seoul area, data showed Sunday. This indicates that tourist spending is no longer limited to iconic landmarks in Seoul but rather becoming a growing part of the country’s regional economy. According to Orange Square, the operator of the foreigner-only payment platform WowPass, it reached 1.97 million users in 2025, up 33 percent from 1.48 million the previous year. This is far faster than the 15.7 percent increase in the number of inbound foreign tourists. Total transaction volume and number of payments also increased 29 percent and 26 percent, respectively. Average spending per visitor remained stable, meaning more tourists are making frequent small-scale transactions rather than occasional high-value purchases. Seoul, which accounted for 89 percent of transactions in 2023, saw its share drop to 83 percent last year, while 17 percent took place in regions outside the capital, up from 11 percent. Restaurants, cosmetics and clothing were among the most popular spending categories,

Feb 18, 2026By Lee Kyung-min

International traveler spending up 30%, non-Seoul transactions rise

Foreign holdings in Korean shares double amid KOSPI rally

Foreign investors nearly doubled their Korean stock holdings to 1,327 trillion won ($916 billion) in 2025, compared to 673 trillion won the previous year, buoyed by a 75 percent surge in the benchmark KOSPI, data showed Sunday. Their share of total market capitalization rose to 30.8 percent, up from 27 percent, led mostly by U.S. investors. Artificial intelligence (AI)-related sectors, especially semiconductors and electronics, drove much of the gains, despite net foreign sales of 9.2 trillion won. Foreign investors were able to realize near 100 percent gains despite overall net selling, as they heavily favored AI-related stocks, which rose more than 120 percent. According to financial market data, the U.S. investors held a total of 546 trillion won worth of Korean stocks, followed by the U.K. (144 trillion won), Singapore (88 trillion won), Luxembourg (70 trillion won) and Ireland (58 trillion won). The Cayman Islands, widely known as a tax haven, accounted for 30.3 trillion won. U.K. and Cayman-based investors favored high-frequency trading, while U.S. investors focused on long-term hol

Feb 18, 2026By Lee Kyung-min

Foreign holdings in Korean shares double amid KOSPI rally

Activist funds ramp up pressure on listed firms ahead of March shareholder meetings

A growing number of activist funds are seeking to launch a coordinated campaign to strengthen shareholder returns in the areas of boardroom decision-making, capital allocation policies and executive pay structures, market watchers said Sunday. The collective move comes ahead of next month's upcoming shareholder meetings where corporate governance is set to emerge as a major minority shareholder rights issue. Together with the ongoing revision to the Commercial Act — characterized by strengthened corporate governance and enhanced shareholder rights — many say shareholder activism will take center stage in the coming weeks, led by not only domestic activist funds but also foreign hedge funds. According to the financial investment industry, two domestic funds — Align Partners Capital Management and Truston Asset Management — and the U.K.-based Palliser Capital are calling for greater shareholder returns. Align Partners has pressed for what it calls “normalization” of shareholder returns at DB Insurance, a non-life insurer, and APlus Asset Advisor, a non-life and life insurance s

Feb 15, 2026By Lee Kyung-min

Activist funds ramp up pressure on listed firms ahead of March shareholder meetings

Nextrade, Korea Exchange consortia win nod for STO platforms

The Financial Services Commission (FSC) has named two consortia — the KDX consortium led by the Korea Exchange and the NXT consortium led by alternative trading platform Nextrade — as operators of new over-the-counter trading platforms for fractional investment, officials said Friday. Lucentblock, a startup operating a fractional real estate investment platform that had drawn attention after alleging procedural unfairness and misappropriation of technology, was eliminated after receiving the lowest marks, including in equity capital. Mindful of the controversy surrounding Lucentblock’s claims, the FSC disclosed detailed scoring results in an unusual move, saying it had applied startup-friendly criteria and that Lucentblock fell short in several areas, including its business proposal. Regarding the complaint Lucentblock filed with the Fair Trade Commission (FTC) over alleged technology theft by Nextrade, the FSC effectively left the matter to the antitrust watchdog, stipulating that the final licensing review would be suspended if the FTC formally launches an administrative probe. T

Feb 13, 2026By Jun Ji-hye

Nextrade, Korea Exchange consortia win nod for STO platforms

Moody's keeps 'Aa2' rating on S. Korea

Global credit appraiser Moody's Investors Service said Thursday it has retained its credit rating on South Korea at "Aa2," with a stable outlook. Moody's has maintained the country's sovereign credit rating at "Aa2," the third-highest level on the company's table, since December 2015, when the agency upgraded it from "Aa3." "The affirmation of the rating is supported by Korea's very high degree of economic diversity and competitiveness and continued institutional management around key challenges," the agency said in its latest report. Moody's projects the Korean economy will grow 1.8 percent in 2026, as semiconductor exports continue to rise amid the global artificial intelligence (AI) upcycle and facility investment strengthens. "The stable outlook reflects balanced risks to Korea's credit profile, including fluctuations in key credit metrics that may arise, particularly given Korea's exposure to global trade," Moody's said. The forecast is slightly more pessimistic but broadly aligns with estimates from other major institutions and the Korean government. The International Monetary Fund p

Feb 12, 2026By Yonhap

PHOTO KOSPI soars past 5,500 for 1st time

The KOSPI value is displayed on an electronic board in the dealing room of Hana Bank’s headquarters in Seoul, Thursday. The benchmark index closed at 5,522.27, up 167.78 points, or 3.13 percent, from the previous trading session, surpassing the 5,500-point mark for the first time. Yonhap

Feb 12, 2026By Jun Ji-hye

[PHOTO] KOSPI soars past 5,500 for 1st time

Hahn & Company sells SK Shipping’s Korea wet tanker business to Pan Ocean for $668 mil.

SK Shipping signed an agreement with Pan Ocean to sell its Korea wet tanker business for $668 million, Hahn & Company said, Thursday. The company, Korea’s largest private equity firm, acquired SK Shipping in 2018. SK Shipping will sell 10 very large crude oil carriers (VLCCs) to Pan Ocean under long-term, secured contracts to import crude oil into Korea. The 10 VLCCs being sold are currently deployed under long-term crude transportation contracts with major domestic shippers. Those contracts will also be transferred to Pan Ocean as part of the transaction. SK Shipping said it plans to use the proceeds from the deal to secure new growth drivers and strengthen its future business portfolio. Hahn & Company has transformed the shipping firm into one of the most profitable transportation companies globally by focusing on servicing secured, long-term contracts while suspending speculative spot market operations. Since the acquisition, the private equity firm has shifted the company’s business structure away from segments highly sensitive to freight rate volatility to more stable operations.

Feb 12, 2026By Lee Kyung-min

Hahn & Company sells SK Shipping’s Korea wet tanker business to Pan Ocean for $668 mil.

Hana Financial Group declares consumer protection charter

Hana Financial Group unveiled a group-wide consumer protection charter, in a move to elevate consumer protection as the top priority to strengthen corporate governance, the group said Thursday. The charter seeks to integrate consumer protection into the group’s decision-making, risk management and corporate culture across all affiliates, as well as expanded board oversight. The strategy will in turn strengthen accountability and establish consumer trust as a defining driver of its long-term competitiveness, Hana said. The charter was announced at a ceremony attended by Chairman Ham Young-joo, the heads of its affiliates, chief consumer officers and employees. “Consumer protection is our top priority and our core competitive strength,” Ham said. “As trust is the essence of finance, this charter must not remain a declaration. All employees must unite and ensure it is put into practice. We will move beyond compliance-driven mandates and foster a company-wide mindset that places consumer rights and interests at the center of all operations.” The charter outlines five core commitment

Feb 12, 2026By Lee Kyung-min

Hana Financial Group declares consumer protection charter

InterviewKOMSCO PR chief co-authors book to challenge misconceptions about public enterprises

Woo Jin-goo, top public relations official at the Korea Minting and Security Printing Corp. (KOMSCO), has co-authored a new book challenging social bias toward public enterprises. Jobs in public enterprises are sometimes nicknamed an “iron rice bowl.” The term is used sarcastically to describe their guaranteed lifetime job security, which is often associated with low work efficiency, weak accountability or lax corporate management that would not be tolerated in a private company. The book, the title of which can be translated as “The Future of Public Enterprises,” carries special significance for Woo, whose career spanning both private and public sectors gives him insight into the realities behind these misconceptions. “It represents a significant milestone, both personally and for KOMSCO,” Woo said in an interview with The Korea Times, Wednesday. “Public enterprises are usually perceived through narrow stereotypes, with reference to the ‘iron rice bowl’ … and this book was conceived precisely to fill that information gap and bridge the divide between perception and r

Feb 12, 2026By Yi Whan-woo

KOMSCO PR chief co-authors book to challenge misconceptions about public enterprises

Social infrastructure, education investment outside Seoul critical to social mobility: BOK

Expanding social infrastructure and dramatically increasing education investment in regional areas beyond Seoul are critical to boosting social mobility and helping break the cycle of inherited poverty, a central bank report said Wednesday. The latest Bank of Korea (BOK) paper highlighted the need for structural reform to mitigate deepening regional disparities that undermine national cohesion and exacerbate low birthrates. The findings renew the warning that Korea’s Seoul-centered development model is no longer sustainable, with accelerated social and economic divides cementing demographic decline. The central bank found that children born in non-Seoul regions saw their incomes and assets grow if they moved to the Seoul metropolitan area. Children born in the Seoul area also tend to move up in social class when they move within the Seoul metropolitan region, especially if they come from low-income families. However, those who moved only between cities or provinces outside the capital region saw far weaker prospects in income and asset growth. “Housing in Seoul is expensive, so many lo

Feb 11, 2026By Lee Kyung-min

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