Economy - The Korea Times

K-pop stocks rally as Xi's APEC visit fuels optimism for Korean cultural exports to China

Entertainment stocks rose sharply on expectations that China may lift its ban on Korean cultural content following Chinese President Xi Jinping’s visit to Korea to attend the Asia-Pacific Economic Cooperation (APEC) meetings held in Gyeongju last week, securities analysts said Monday. Optimism increased after Park Jin-young, founder of K-pop powerhouse JYP Entertainment and co-chair of the Presidential Committee on Popular Culture Exchange, met with the Chinese leader during the state dinner for the Korea-China summit on Saturday, where Xi reportedly responded positively to the idea of Korean artists performing in Beijing. JYP Entertainment closed at 85,000 won ($60), up 5.07 percent from the previous session. Shares of other major entertainment firms also advanced, with SM Entertainment rising 1.26 percent and HYBE gaining 0.44 percent. The KOSPI rose 114.37 points, or 2.78 percent, to close at 4,221.87. The rally was driven by growing expectations for the resumption of cultural exchanges between Seoul and Beijing and, potentially, an end to Beijing’s ban on Korean cultural content,

Nov 3, 2025By Jun Ji-hye

K-pop stocks rally as Xi's APEC visit fuels optimism for Korean cultural exports to China

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

KOSPI's surge triggers rapid 'money move' from banks to stock market

Kim, a 34-year-old employee at a consulting firm in Seoul, recently withdrew 50 million won ($35,000) from his bank savings account and invested it in the stock market. He said he felt the atmosphere had changed as the KOSPI surpassed 4,000 points while deposit rates remained in the 2 percent range. “I decided it was better to invest in semiconductor- and artificial intelligence-related stocks with higher growth potential rather than leaving my money in the bank,” he said. Like Kim, more individual investors are withdrawing funds from bank deposits and shifting them into equities as Korea’s main bourse, the KOSPI, has posted the world’s highest growth rate this year. The KOSPI jumped about 19 percent in October alone, surpassing the 4,000-point mark for the first time. Each time the index hits a new record high, massive amounts of idle money flow into the capital market, further driving the rally. According to industry officials, Sunday, the country’s five major commercial banks — KB Kookmin, Shinhan, Woori, Hana and NH NongHyup — saw their combined demand deposit balances f

Nov 2, 2025By Jun Ji-hye

KOSPI's surge triggers rapid 'money move' from banks to stock market

InterviewVeteran 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

Investors bet on rare earth, shipbuilding stocks as Trump-Xi talks near

A much-touted summit scheduled this week between the U.S. and Chinese leaders in Busan is boosting bets on Korean listed companies in sectors of high strategic interest to both countries, such as rare earth materials and shipbuilding. For the first time in six years, U.S. President Donald Trump and Chinese President Xi Jinping will meet to discuss a range of issues amid escalating tensions over trade and regional influence. The sectors drawing attention include rare earth materials and shipbuilding — key arenas in the U.S.-China rivalry for dominance in trade and defense industries. Under the circumstances, several analysts said Sunday that Seong An Materials and Union Materials, both listed on the KOSPI, are expected to gain further ground during the Busan gathering. Seong An Materials, a textile manufacturer, and Union Materials, a ceramic manufacturer, have been aggressively expanding into rare earth materials in recent years. “Both have drawn investors’ attention as domestic rare-earth stocks rose following China’s export restrictions, raising hopes for spillover benefits,”

Oct 26, 2025By Yi Whan-woo

Investors bet on rare earth, shipbuilding stocks as Trump-Xi talks near

Builders face setbacks as gov't introduces new measures to slow housing market

Construction companies face a negative business outlook as the government’s new real estate regulations announced Wednesday are expected to curb home sales and delay redevelopment projects, analysts said Thursday. The new rules, aimed at reining in soaring housing prices in the Seoul metropolitan area, expand regulated zones to all of Seoul and 12 areas in Gyeonggi Province, sharply reducing loan limits and imposing stricter residency requirements. Bae Se-ho, an analyst with iM Securities, said the expansion of regulated areas poses challenges for builders, as it increases the likelihood of applying the presale housing price cap and could slow the pace of redevelopment projects. “When an area is designated a speculative overheated zone, private land may also be subject to the price ceiling. In Seoul, more than 80 percent of new housing comes from redevelopment projects, and applying the ceiling could reduce project profitability and significantly delay progress,” he said. “Considering the sharp rise in construction costs since 2021, which has already substantially weakened redeve

Oct 16, 2025By Jun Ji-hye

Builders face setbacks as gov't introduces new measures to slow housing market

InterviewWounded healer — how socially withdrawn man turned isolation into empowerment

You Seung-kyu lives up to the psychological definition of a “wounded healer” — someone who uses their own pain as a bridge to understand and heal others. Once a socially withdrawn man who spent nearly five years barely leaving his room in his 20s, You has turned his past into a powerful foundation for business, social advocacy and peer-based job creation. “I found out that even your unwanted, shameful past of social withdrawal can become a qualification,” You told The Korea Times in a recent phone interview. Now in his early 30s, You traces his turning point to a sharehouse operated by the Korean branch of a Japanese nonprofit organization for hikikomori — a Japanese term for recluses or shut-ins. He recalled that joining the program helped him slowly re-enter society and relearn the rhythms of daily life. “And over time, I not only adapted but also began studying how the organization functioned,” he added, benchmarking the business model to launch his own company in 2022. You's business, Not Scary Company, centers on two sharehouses in Seoul designed to help socially isola

Oct 15, 2025By Yi Whan-woo

Wounded healer — how socially withdrawn man turned isolation into empowerment

IMF raises Korea's 2025 growth outlook to 0.9% on smaller-than-expected US tariff impact

The International Monetary Fund (IMF) on Tuesday slightly raised its growth forecast for Korea's economy to 0.9 percent for this year, saying that effects from U.S. tariff measures have been smaller than expected so far. In its latest World Economic Outlook report, the IMF edged up its projection for Asia's fourth-largest economy by 0.1 percentage point from its previous forecast released in July. The IMF maintained its 2026 growth outlook for Korea at 1.8 percent. "The United States negotiated trade deals with various countries and provided multiple exemptions. Most countries refrained from retaliation, keeping instead the trading system largely open," the IMF said. "As a result, the increase in tariffs and its effect has been smaller than expected so far." Major economies have completed tariff agreements with the administration of U.S. President Donald Trump, aimed at scaling back Washington's "reciprocal" tariffs and sector-specific duties. Seoul officials have been accelerating diplomatic efforts to formally finalize a framework trade deal reached in late July, under which Korea will

Oct 14, 2025By Yonhap

IMF raises Korea's 2025 growth outlook to 0.9% on smaller-than-expected US tariff impact

Scrapped banknotes could tower 77 times height of Mount Everest: BOK

More than 13.5 trillion won ($9.58 billion) worth of damaged or contaminated banknotes and coins have been discarded over the past four and a half years, with the volume of destroyed banknotes alone large enough to tower 77 times higher than Mount Everest, data showed Friday. The large-scale disposal of paper bills is raising particular concern, as it costs the Bank of Korea (BOK) hundreds of millions of won to incinerate damaged notes — unlike coins, which generate revenue when sold to recycling companies. According to data obtained by Rep. Park Sung-hoon of the People Power Party from the BOK, the central bank destroyed a total of 1.96 billion units of currency from 2021 to June 2025. The combined face value amounts to 13.56 trillion won. Of the total, paper bills made up the majority — 1.65 billion notes worth 13.52 trillion won — while 307 million coins, worth 38.6 billion won, were also discarded. The number of destroyed currency items totaled 403 million in 2021, 413 million in 2022, 484 million in 2023, 475 million in 2024, and 189 million in the first half of 2025. The sligh

Oct 3, 2025By Yi Whan-woo

Scrapped banknotes could tower 77 times height of Mount Everest: BOK

Tourists from Taiwan, Hong Kong boost foreigner card spending in Korea

Combined card spending by inbound tourists from seven major markets — the United States, Japan, China, Taiwan, Singapore, Hong Kong and Thailand — increased 26 percent over the past year, supported by a sharp rise in visitor numbers, while spending by Taiwanese and Hong Kong travelers surged more than 50 percent, marking the fastest growth among them, according to Visa on Tuesday. Consumption has also broadened beyond traditional shopping, with growing interest in K-lifestyle experiences such as health care and beauty. The findings come from the global credit card and payment firm’s analysis of payments made with overseas-issued personal Visa cards at offline merchants in Korea between April 2024 and March 2025. The top three — the U.S., Japan and China — kept their previous year’s rankings and together made up over half of total spending, continuing to dominate Korea’s tourism market. Notably, Taiwan in fourth place and Hong Kong in sixth showed particularly strong growth, as their card spending jumped 54 percent and 50 percent, respectively, compared to the same period la

Oct 1, 2025By Jun Ji-hye

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