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  • Economy

    Seoul stocks, won hammered by massive foreign selling

    Seoul stocks plunged Friday as a prolonged foreign sell-off collided with a sharp downturn in global semiconductor shares, sending the benchmark KOSPI down more than 5 percent to below the 8,200 level. The sustained foreign investor exodus also continued to weigh on the Korean won. In Seoul’s onshore foreign exchange market, the won closed at 1,539.1 per dollar, down 9.4 won from the previous session. During intraday trading, it briefly approached the 1,550 level, its weakest since March 2009, during the global financial crisis. The won has now traded above the 1,500 per dollar threshold for 14 consecutive sessions. KOSPI opened at 8,323.20, down 3.66 percent from the previous session, according to the Korea Exchange. Heavy selling pressure persisted throughout the day, prompting the year’s 10th sidecar shortly after the opening bell — a market safeguard that temporarily suspends program trading during periods of extreme volatility. The index ultimately closed at 8,160.59, down 5.54 percent. Foreign and institutional investors drove the decline, selling a net 3.52 trillion won and

    2 MIN READBy Park Han-sol
    Seoul stocks, won hammered by massive foreign selling
  • Economy

    Korea diversifying LNG imports to ease Middle East dependence: KOGAS chief

    1 MIN READBy Yonhap
    Korea diversifying LNG imports to ease Middle East dependence: KOGAS chief
  • Economy

    Korea's currency tumbles to 17-year low on foreign stock selloff

    1 MIN READBy Yonhap
    Korea's currency tumbles to 17-year low on foreign stock selloff
  • Economy

    Gov't vows to lower barriers for foreign investors with 24-hour FX market

    1 MIN READBy Yonhap
    Gov't vows to lower barriers for foreign investors with 24-hour FX market
  • Economy

    KRX issues sell-side sidecar for KOSPI on sharp fall

    1 MIN READBy Yonhap
    KRX issues sell-side sidecar for KOSPI on sharp fall
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Policy

Overseas investment boom leaves retail investors with heavy losses: FSS

Securities firms have posted record-high brokerage fee income from overseas stock trading as retail investors increasingly turn to foreign markets, but rising volatility has left about half of those investors posting losses on overseas equities, the Financial Supervisory Service (FSS) said Friday. Against this backdrop, the financial watchdog said it will promptly escalate its reviews of overseas investment sales practices at brokerage firms into full-scale on-site inspections. It vowed to take tough measures, including the suspension of overseas stock business, if unlawful or improper conduct, such as deceptive marketing or insufficient risk disclosure, is identified. The FSS released interim results from its reviews of overseas investment practices, which have been underway since Dec. 3 at major brokerages and asset managers. The findings showed that brokerage commissions from overseas stock trading at the 12 largest securities firms totaled about 1.95 trillion won ($1.3 billion) during the January-November period, marking an all-time high and more than tripling from 581 billion won a

Dec 19, 2025By Jun Ji-hye
Overseas investment boom leaves retail investors with heavy losses: FSS
Economy

Securities firms post record $1.35 bil. profit from overseas stock brokerage

Major securities companies here have raised a record high commission income of nearly 2 trillion won ($1.35 billion) from overseas stock brokerages this year, the state financial regulator said Friday, urging the firms to refrain from excessive promotion of investment in foreign stock markets. The top 12 securities firms reported a combined profit of 1.95 trillion won in commission income from overseas stock brokerages in the first 11 months of this year, already surpassing their annual total of 1.25 trillion won in 2024, which marked an all-time high, according to the Financial Supervisory Service (FSS). The 2025 figure is also more than three times higher than the 581 billion won profit recorded in 2023. The FSS said the securities firms raised record profit from overseas stock trading but nearly half of individual investors recorded losses from overseas stock accounts due to increased volatility in global markets. From January to October, retail investors saw a combined loss of 373.5 billion won from overseas securities. Local securities firms have aggressively attracted investors for

Dec 19, 2025By Yonhap
Securities firms post record $1.35 bil. profit from overseas stock brokerage
Economy

No. of foreign workers rises to record 1.1 mil. in 2025

The number of foreign workers in Korea surpassed 1.1 million in 2025 to reach a record high, with the proportion of employed international students also sharply up, a survey showed Thursday. As of May, there were 1.69 million foreigners aged 15 or older residing in Korea, up 8.4 percent from a year earlier, according to the survey conducted by the Ministry of Data and Statistics. Among them, more than 1.1 million people were employed, rising 9.8 percent on-year. The figure was the highest since the ministry began compiling such data in 2017. Of those employed, the number of international students jumped by 23,000, or 71.8 percent, to 56,000 as the overall number of students coming to study in Korea increased amid the global popularity of Korean culture and government policies to attract more international students. The number of non-professional workers rose 6.1 percent to 321,000 and professional workers climbed 25.7 percent to 82,000, while the number of workers with permanent residence visas went up 17.1 percent to 123,000. By nationality, there were 341,000 Chinese nationals with ethn

Dec 18, 2025By Yonhap
No. of foreign workers rises to record 1.1 mil. in 2025
Economy

Service sector sales up 1.8% year-on-year in 2024: data

Cumulative sales in Korea's service industry rose 1.8 percent year-on-year in 2024, on the rise of repair and other services, such as funerals and weddings, the statistics agency said Thursday. Sales in the industry came to 3,181 trillion won ($2.16 trillion) last year, compared with 3,124 trillion won the previous year, according to the data compiled by the Ministry of Data and Statistics. By sector, sales growth was the largest in the repair and private services sector, up 10 percent year-on-year. Coming next were the professional, scientific and technological services sector, which grew 8.7 percent year-on-year, and health care and social welfare services, which went up 7.1 percent. The total number of businesses in the service industry rose 1.9 percent year-on-year to 4.24 million. The industry added 110,000 more jobs from a year earlier, bringing the total number of employees to 14.4 million. Sales per company remained unchanged from a year ago at 750 million won, while per-worker sales went up 1.1 percent to 220 million won. In 2024, 22 percent of all businesses in the sector used onl

Dec 18, 2025By Yonhap
Service sector sales up 1.8% year-on-year in 2024: data
Economy

Industry ministry discusses response to EU's carbon policy with local industries

The industry ministry held a meeting with representatives from the automobile, home appliances and steel sectors Thursday to discuss responses to the European Union's (EU) plan to implement the Carbon Border Adjustment Mechanism (CBAM) next year, officials said. The EU is set to levy tax on carbon-intensive goods imported to the region, such as steel, aluminum, cement and fertilizers, starting on Jan. 1, and plans to expand its carbon border levy to other items, including auto parts, refrigerators and washing machines, beginning in 2028. Under the new scheme, exporters to the EU must calculate the carbon emissions associated with their products and report it to the importers so they can purchase CBAM certificates based on those emissions. "We will carefully review whether the recent announcement on the expansion of items applicable (under CBAM) could act as a trade barrier in disguise (to Korean companies)," Vice Trade Minister Park Jung-sung said, vowing continued communications with the industries over the matter. The ministry said through continued consultations with the EU, the start

Dec 18, 2025By Yonhap
Industry ministry discusses response to EU's carbon policy with local industries
Policy

No-show penalty ceiling at fine dining restaurants raised to 40%

The ceiling for no-show penalties at reservation-based fine dining restaurants will be raised to 40 percent of the preordered menu, the antitrust regulator said Thursday. From now on, advance reservation-based upscale restaurants, such as omakase establishments, will be allowed to charge a no-show fee of up to 40 percent of the price of menu items for which consumers made reservations, according to the Fair Trade Commission (FTC). Previously, such restaurants could only impose a maximum 10 percent cancellation fee for no-shows. For general walk-in restaurants, the penalty may be set at up to 20 percent of the total amount charged. The FTC said it revised the penalty guidelines considering that cost ratios in the food service industry are typically around 30 percent. The watchdog also revised up the penalty guidelines for the wedding industry, allowing wedding venue operators to charge up to a 70 percent penalty of the total cost for cancellations on the day of the event, 50 percent for those made one to nine days prior and 40 percent for those made 10 to 29 days before the wedding. On the

Dec 18, 2025By Yonhap
No-show penalty ceiling at fine dining restaurants raised to 40%
Economy

Financial authorities reaffirm timely response against volatile FX market

The country's financial authorities on Thursday reaffirmed that they will take timely steps, if necessary, to stem volatility in the foreign exchange (FX) market. In a meeting on the financial market, Finance Minister Koo Yun-cheol said the authorities will step up the market monitoring and reconfirmed timely actions against the won's decline, if necessary. The meeting was also attended by Lee Eog-weon, chairman of the Financial Services Commission; Lee Chan-jin, governor of the Financial Supervisory Service; and Bank of Korea (BOK) Deputy Gov. Ryoo Sang-dai. They shared the view that the local financial market remains stable but expressed concerns over an increase in volatility in the currency market. Their meeting came as the Korean won has been falling sharply against the U.S. dollar. The local currency ended at 1,479.80 against the greenback Wednesday, the lowest level since April 9, when the won closed at 1,484.1 won. In a bid to smooth out the market volatility, the state-run pension fund, the National Pension Service, has activated a foreign-exchange swap agreement with the BOK. The

Dec 18, 2025By Yonhap
Financial authorities reaffirm timely response against volatile FX market
Others

Weak won fuels inflation, deepens economic polarization: BOK head

The sharp weakness of the Korean currency against the U.S. dollar is not a sign of a “financial crisis” in the traditional sense, but it is a significant concern because of its implications for social and economic cohesion, the country’s top monetary policymaker said Wednesday. Bank of Korea (BOK) Gov. Rhee Chang-yong said the Ministry of Health and Welfare’s recent decision to factor currency dynamics into the operation of the National Pension Service (NPS), the state pension fund, represents meaningful progress. He added that the NPS needs strategic ambiguity, keeping the beginning and end of its currency hedging undisclosed, to temper expectations about the currency’s trajectory. “Korea is currently a net external creditor, so the possibility of a sovereign default accompanied by a series of financial entity closures is low,” Rhee said during a press conference at the bank's headquarters, Wednesday. However, the weak won has heightened inflation concerns by driving up import prices, placing additional strain on households. Importers have also been affected, particularly

Dec 17, 2025By Lee Kyung-min
Weak won fuels inflation, deepens economic polarization: BOK head
Policy

Korea Zinc's Tennessee smelter emerges as potential target for $200 bil. US fund

Korea Zinc’s smelter construction project in Tennessee could be discussed as a potential candidate to tap a $200 billion fund dedicated to U.S.-bound investment, Minister of Trade, Industry and Resources Kim Jung-kwan said Wednesday. Addressing market concerns that the 11 trillion won ($7.4 billion) project could place a heavy financial burden on the world’s largest zinc smelter, Kim said he views the decision “positively” from his standpoint as the minister overseeing critical minerals, despite the costs involved. “The project has been strongly welcomed by the U.S. Department of Commerce,” he said. “How the U.S. investment fund might be utilized will be a subject for further discussions with the department.” He added, however, that discussions have not yet progressed to that stage, stressing that the matter remains at a preliminary level. Last month, Seoul signed a memorandum of understanding with Washington on U.S.-bound investment, under which Korea plans to establish a $200 billion fund to support commercially viable projects in the United States. Kim’s remarks are i

Dec 17, 2025By Jun Ji-hye
Korea Zinc's Tennessee smelter emerges as potential target for $200 bil. US fund
Economy

State-run think tank pushes stronger regulations for large securities firms

A state-run think tank said Wednesday that as Korea's large securities firms grow in size, regulations governing their financial health should be strengthened, warning that the current method creates a misleading impression of soundness. The Korea Development Institute (KDI) said in its latest report that the calculation of the net capital ratio (NCR) for large securities firms should be reverted to the method used before 2016. The NCR measures the proportion of net operating capital to gross risks and is a key indicator of a financial investment company's stability. "The current NCR system does not fully reflect the increasing risks faced by large securities firms," said Hong Jong-soo, a KDI researcher. He noted that the formula adopted in 2016 creates the illusion of an improved NCR as asset size increases, even as underlying risks grow, giving the impression that large securities firms remain financially sound despite a sharp rise in debt. Total assets of domestic securities firms grew from 199.8 trillion won ($134.9 billion) in 2010 to 851.7 trillion won in the first half of this year

Dec 17, 2025By Yonhap
State-run think tank pushes stronger regulations for large securities firms
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