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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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Economy

Container shipping costs to major export destinations up 3.3% in November

Container shipping costs from Korea to major economies, including the United States and the European Union (EU), increased from a month earlier in November, the customs agency said Monday The average shipping cost for a 40-foot container from Korea to the U.S. east coast and the west coast gained 3.3 percent on-month to 5.37 million won ($3,635) and 5.7 percent on-month to 5.34 million won, respectively, in November, according to data from the Korea Customs Service. Shipping rates to the EU gained 11.6 percent to 3.25 million won during the same period. In contrast, shipping costs to China inched down 0.3 percent to 515,000 won. The figures include freight rates, commissions and other related charges reported by local exporters, according to the agency.

Dec 15, 2025By Yonhap
Container shipping costs to major export destinations up 3.3% in November
Economy

Authorities warn of bold, preemptive steps against volatile markets

The financial authorities said Monday that they will take bold, preemptive measures to rein in market volatility amid the falling Korean won and soaring bond yields. In a meeting with private experts and high ranking officials from related government agencies, Lee Eog-weon, chairman of the Financial Services Commission (FSC), said the country's financial markets had shown signs of stability during the second half of the year on an improvement in economic conditions and a bull run on the stock market. But recently, bond yields have been on an upside path and the currency market suffered increased volatility. "Despite increased market volatility, the country's economic resilience is strong enough to shake off risks," Lee said citing financial firms' financial soundness, ample foreign reserves and low credit risks. Bond yields have been soaring after the Bank of Korea (BOK) froze its key rate at 2.5 percent late last month to safeguard financial stability amid a weakened local currency and an unstable housing market. But market players bet that the central bank's easing cycle has come to an

Dec 15, 2025By Yonhap
Authorities warn of bold, preemptive steps against volatile markets
Others

Korea’s export milestone masks growing risks from heavy reliance on semiconductors

Korea’s export growth is increasingly dependent on semiconductors, deepening polarization in the export structure despite increases in total outbound shipments, data showed Sunday. Although the country is on track to see its exports exceed $700 billion for the first time this year, strong performance in a limited number of sectors has masked widespread weakness across the broader export base, where many industries are slipping into a prolonged downturn. According to the Ministry of Trade, Industry and Resources, only five of Korea’s 15 flagship export items posted year-on-year growth during the January-November period, when outbound shipments totaled $640.2 billion, a 2.9 percent year-on-year increase. Among the five sectors, meaningful gains were largely confined to semiconductors, ships and biohealth, which rose 19.8 percent, 28.6 percent and 7 percent, respectively. By contrast, automobiles and computers posted only marginal increases of 2 percent and 0.4 percent, respectively. Exports in the 10 other sectors contracted at an alarming pace, each recording clear year-on-year declin

Dec 14, 2025By Jun Ji-hye
Korea’s export milestone masks growing risks from heavy reliance on semiconductors
Economy

BOK to provide emergency liquidity using loans as collateral in case of large-scale deposit withdrawals

The Bank of Korea (BOK) said Sunday it has decided to provide emergency liquidity to financial institutions by accepting their loan assets as collateral in the event of large-scale deposit withdrawals or other liquidity crises. Under the new rule approved by the BOK Monetary Policy Board, the central bank will be able to offer additional emergency funding backed by loan receivables, if deemed necessary, in addition to its existing lending program collateralized by marketable securities. Currently, the BOK provides funds only against marketable securities held by financial institutions when liquidity stress takes place. "There have been rising liquidity risks due to the accelerating digitalization of finance, and the need to strengthen liquidity backstops has grown," the BOK said in a release. Loans account for the largest share of financial institutions' assets, and using them as collateral can serve as an effective tool in responding to severe liquidity shocks, it added. As of end-June, loans accounted for 69.8 percent of total assets by banks, compared with 18.6 percent for marketable s

Dec 14, 2025By Yonhap
BOK to provide emergency liquidity using loans as collateral in case of large-scale deposit withdrawals
Economy

Number of high net worth individuals grows over 3% to nearly 480,000: report

The number of Koreans holding more than 1 billion won ($676,818) in financial assets rose more than 3 percent last year to nearly 480,000, a report showed Sunday. According to a wealth report by the research institute of the KB Financial Group, an estimated 476,000 individuals held at least 1 billion won in financial assets as of end-2024, representing 0.92 percent of the total population. The figure marked a 3.2 percent increase from a year earlier and more than tripled from 130,000 in 2011, when the survey began. Their combined financial assets totaled 3,066 trillion won, up 8.5 percent from a year earlier, accounting for 60.8 percent of total household financial assets nationwide. "The growth rate of the wealthy individuals' financial assets was nearly double that of overall household financial assets," the institute said. "Wealth accumulation among the rich has been markedly faster than among the general population." The report showed that 32,000 people held financial assets worth between 10 billion and 30 billion won, while 12,000 individuals owned more than 30 billion won worth of f

Dec 14, 2025By Yonhap
Number of high net worth individuals grows over 3% to nearly 480,000: report
Others

Gov't expected to create W6 tril. sovereign wealth fund through nonlisted shares of state firms

The Lee Jae Myung administration is planning to establish a government-run sovereign wealth fund aimed at supporting strategic growth industries, with investment returns intended to benefit the public, market watchers said Friday. Led by the Ministry of Economy and Finance, the initiative aims to create a fund that will pursue aggressive strategies: investing in overseas megaprojects, supporting domestic artificial intelligence (AI) and semiconductor firms, and channeling state assets into long-term sources of national wealth. Comparable models include Singapore’s Temasek and Australia’s Future Fund. However, concerns linger over inefficiencies in resource allocation and management, as existing government funds of over 2 trillion won ($1.3 billion) have yet to find suitable investment targets. Questions also remain about whether the ministry-driven fund would be managed in a way that is meaningfully distinct from the 150 trillion won government-run growth fund launched Thursday. Experts say the launch of the envisioned fund is likely to mobilize about 6 trillion won in government-own

Dec 12, 2025By Lee Kyung-min
Gov't expected to create W6 tril. sovereign wealth fund through nonlisted shares of state firms
Economy

Mexico's tariff hike plan to have limited impact on Korean exports: ministry

Mexico's tariff hike plan will likely have a limited impact on Korean exports thanks to the country's tariff reduction programs for intermediate goods imports, the industry ministry said Friday. The ministry offered such an assessment during an emergency meeting with Korean automobile, auto parts and steel companies, held a day after Mexico's Senate approved tariff hikes from next year on imports of automobiles, auto parts, textiles, steel and other goods from countries that do not have a free trade agreement with the country, including Korea. Under the plan, Mexico plans to impose 25 percent tariffs on imported auto parts, 25-30 percent tariffs on washing machines, 25 percent duties on refrigerators and 30 percent duties on microwaves. The ministry said the tariff rates have been reduced from initially proposed rates, partly thanks to Korea's efforts to address concerns over such measures through various channels, including meetings between the countries' trade and foreign ministers. The ministry also insisted the planned tariff hikes will have only a limited impact on Korea's exports s

Dec 12, 2025By Yonhap
Mexico's tariff hike plan to have limited impact on Korean exports: ministry
Economy

S. Korea, US to launch joint FTA committee to implement tariff deal: finance chief

Finance Minister Koo Yun-cheol said Friday that a joint committee for the South Korea–U.S. Free Trade Agreement (FTA) will be established soon to implement a recent tariff deal reached by the two countries. In late October, Seoul and Washington finalized an agreement outlining the details of South Korea's $350 billion investment pledge, made in exchange for lowering U.S. tariffs, during summit talks between President Lee Jae Myung and U.S. President Donald Trump. "The two countries plan to push forward with hosting the South Korea–U.S. FTA Joint Committee soon to ensure proper implementation of the agreed measures," Koo said while presiding over an economy-related ministers' meeting. Last week, the Trump administration posted on the Federal Register a notice implementing certain tariff elements of the South Korea-U.S. trade deal, including a reduced duty rate of 15 percent on Korean autos retroactive to Nov. 1. Koo added that Seoul will consult closely with Washington to ensure that the detailed implementation plan for non-tariff measures serves the national interest. The minister als

Dec 12, 2025By Yonhap
S. Korea, US to launch joint FTA committee to implement tariff deal: finance chief
Economy

Foreigners snap 6-month buying of S. Korean stocks in November

Foreign investors became net sellers of South Korean stocks in November, ending their six-month buying streak as they sought to cash in gains, data showed Friday. Offshore investors sold a net 13.37 trillion won ($9.1 billion) worth of local stocks last month, following a net purchase of 4.2 trillion won the previous month, according to the data from the Financial Supervisory Service (FSS). Foreigners had been net buyers of Korean stocks since May. Following their net selling in November, offshore investors owned 1,192 trillion won worth of local stocks, or 29.6 percent of total market capitalization. By country, investors from Britain were the top sellers in November, net selling 4.5 trillion won worth of shares, followed by those from the United States, who net sold 4.1 trillion won, according to the data. In the local bond market, foreign investors purchased a net 17.62 trillion won worth of local bonds last month. Their holdings of local bonds stood at 321.6 trillion won as of end-November, accounting for 11.6 percent of listed bonds here, the data showed.

Dec 12, 2025By Yonhap
Foreigners snap 6-month buying of S. Korean stocks in November
Economy

Import prices log fastest increase in 19 months in Nov. on weaker won: BOK

Import prices increased at the fastest pace in 19 months in November, despite a decline in global oil prices, due largely to the weaker Korean won, central bank data showed Friday. The import price index rose 2.6 percent on-month in November, accelerating from a 1.9 percent gain in October, according to preliminary data from the Bank of Korea (BOK). The November reading marked the fastest growth since April 2024, when the index jumped 3.8 percent, and the fifth straight monthly increase. On a year-on-year basis, the index climbed 2.2 percent. The rise came as the Korean won fell markedly against the U.S. dollar, with the currency averaging 1,457.77 won per dollar in November, compared with 1,423.36 won in October. The price of Dubai crude, South Korea's benchmark, edged down 0.8 percent on-month to $64.47 per barrel. Import prices are a key driver of inflation, as they influence production costs and consumer prices throughout the supply chain. The data also showed that the export price index rose for a fifth consecutive month in November, increasing 3.7 percent from the previous month, thou

Dec 12, 2025By Yonhap
Import prices log fastest increase in 19 months in Nov. on weaker won: BOK
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