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  • Economy

    Seoul stocks surge as US-Iran breakthrough boosts risk appetite

    Korean stocks surged Monday after the United States and Iran reached a preliminary agreement over the weekend that includes the reopening of the Strait of Hormuz, removing one of the biggest sources of uncertainty that had weighed on global markets for more than three months. The agreement effectively brings an end to the 106-day conflict that began on Feb. 28, with a formal signing ceremony scheduled for Friday in Switzerland. “The Deal with the Islamic Republic of Iran is now complete,” U.S. President Donald Trump wrote on Truth Social before Asian markets opened. “I hereby fully authorize the toll free opening of the Strait of Hormuz ... Ships of the World, start your engines. Let the oil flow!” On the news, international crude prices fell back toward the $80 range as fears of supply disruptions eased. Brent crude, the global benchmark, and U.S. West Texas Intermediate crude both dropped over 4 percent to $83.53 and $80.58 per barrel, respectively. While still well above pre-Iran war levels, prices have retreated sharply from the peaks above $110 reached during the height of t

    3 MIN READBy Park Han-sol
    Seoul stocks surge as US-Iran breakthrough boosts risk appetite
  • Economy

    Seoul stocks open higher on Wall Street gains following US-Iran deal

    1 MIN READBy Yonhap
    Seoul stocks open higher on Wall Street gains following US-Iran deal
  • Cryptocurrency

    EXPLAINER Institutions jockey for position in Korea's crypto market

    3 MIN READBy Lee Yeon-woo
    [EXPLAINER] Institutions jockey for position in Korea's crypto market
  • Policy

    Benchmark rate for banks' mortgage loans up for 2nd month in May

    1 MIN READBy Yonhap
    Benchmark rate for banks' mortgage loans up for 2nd month in May
  • Economy

    US-Iran deal offers relief to Korean economy, but lower energy prices may take time

    2 MIN READBy Yonhap
    US-Iran deal offers relief to Korean economy, but lower energy prices may take time
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Others

More university graduates pessimistic about job prospects

Kim Sung-jin, 24, a business major, says he is applying for jobs without expectations to actually land any. “I apply because I feel like I have to, not because I think I’ll get in,” he said. He said he scrolls through job postings every night but that doesn’t mean he is motivated to prepare seriously. “Last month I sent out seven applications and haven’t heard anything back. It’s hard to imagine that anything will change.” The scariest part isn’t rejection, he added, but the feeling that there is no place for him at all. “My friends have all been searching for full-time jobs for many months now. We all spend hours tailoring resumes only to face rejections. The more I try to think I’m getting almost there, the more I feel depressed at the rejection notice. At this point, I’m just doing what I can to not fall behind.” Similarly, Ahn Ji-yoon, 26, says she feels trapped in a vicious cycle of repeated rejection. “I never thought I’d still be looking for jobs after graduation,” she said. She said she is getting to used to finding out there are almost no openings at

Dec 11, 2025By Lee Kyung-min
More university graduates pessimistic about job prospects
Economy

Gov't asks oil industry to refrain from price hikes amid global energy price volatility

The industry ministry on Wednesday asked major oil companies to refrain from engaging in drastic price hikes amid recent volatility in global energy prices, officials said. The request was made during a meeting with four major domestic oil refineries, including SK Energy and GS Caltex, and related institutions held to discuss market conditions in the petroleum market. The ministry said it has asked for voluntary cooperation from oil refiners and gas station operators to prevent excessive price increases to help alleviate financial burdens on businesses and everyday energy consumption. Market watchers have expressed concerns over an increase in domestic oil prices in line with recent hikes in international petroleum prices. Global petroleum prices had decreased to $77.7 per barrel in the fourth week of November from $80.2 two weeks earlier, but rebounded to $79.4 last week, according to the ministry.

Dec 10, 2025By Yonhap
Gov't asks oil industry to refrain from price hikes amid global energy price volatility
Economy

Weaker won poses inflation risks, FX market imbalances remain concern: BOK board member

The central bank's monetary policy board is concerned about the inflationary impact of the weakening Korean won and is maintaining close monitoring of market conditions, a board member said Wednesday. Kim Jong-hwa, one of the six members of the Bank of Korea (BOK)'s monetary policy board excluding Gov. Rhee Chang-yong, made the remarks during a meeting with reporters in Seoul. "We are carefully assessing and closely monitoring how the won-dollar exchange rate could affect inflation," Kim said. "Price stability is the most important objective of monetary policy." Government data showed that consumer prices rose 2.4 percent on-year in November, staying in the mid-2 percent range for the second straight month. The price growth came as the Korean won has stayed well below the psychologically important level of 1,450 won per U.S. dollar in recent weeks, due mainly to increased U.S. stock investment by local individuals and the National Pension Service (NPS), as well as offshore investors' profit-taking following strong market gains here. Kim noted that core inflation remains stable and domesti

Dec 10, 2025By Yonhap
Weaker won poses inflation risks, FX market imbalances remain concern: BOK board member
Economy

Worst over for Korean corporates: S&P

Korean companies will face tight credit conditions in 2026, but the worst of the current downturn appears to be behind them, S&P Global Ratings said Wednesday. The credit appraiser forecast that Korea's GDP growth will recover from 1.1 percent in 2025 to 2.3 percent in 2026, driven by a rebound in semiconductor exports and fiscal support. Greater clarity in policy direction and somewhat eased tariff burdens were seen as positive factors, though ongoing shifts in U.S. policy and lingering tariff issues will continue to pose challenges. "Although overall performance this year has been quite weak and challenging, we are seeing signs of a rebound in the second half," Park Jun-hong, credit analyst at S&P Global Ratings, said during a press meeting co-hosted with Nice Credit on Wednesday. "In that sense, I believe we have passed through the worst period." Nice Credit projected total revenue across 14 major industries will rise 5 percent next year to 1,642 trillion won ($1.15 trillion), up from 1,564 trillion won in 2024. Still, performance will remain uneven. Semiconductor and shipbuilding sect

Dec 10, 2025By Lee Yeon-woo
Worst over for Korean corporates: S&P
Economy

Household loan growth slows down in November amid tight lending rules

Household loans extended by Korean banks grew at a slower pace in November amid tightened lending regulations aimed at cooling the overheated property market in the capital region, central bank data showed Wednesday. Banks' outstanding household loans stood at 1,175.6 trillion won ($799.62 billion) as of end-November, up 1.9 trillion won from a month earlier, according to the Bank of Korea (BOK). The growth slowed from the 3.5 trillion-won increase tallied in the previous month. Home-backed loans rose 700 billion won on-month to 935.5 trillion won, decelerating from a 2 trillion-won gain in October. It marked the slowest growth since March 2023. Unsecured and other types of household loans climbed 1.2 trillion won to 239.2 trillion won in November, following a 1.4 trillion won gain a month earlier. "Mortgage loans grew at a slower clip despite the increase in housing transactions prior to the Oct. 15 measures, as banks continued to tighten household lending and demand for jeonse loans declined," the BOK said in a released statement. Under the tightened rules announced in mid-October, the g

Dec 10, 2025By Yonhap
Household loan growth slows down in November amid tight lending rules
Economy

ADB ups 2025 growth forecast for Korea to 0.9% on consumption recovery, tariff deal

The Asian Development Bank (ADB) has revised up its growth outlook for Korea this year to 0.9 percent following the country's stimulus packages to boost consumption and tariff deal with the United States, Seoul's finance ministry said Wednesday. The figure marks a 0.1 percentage point increase from the ADB's previous forecast made in September. The ADB also raised Korea's growth outlook for next year by 0.1 percentage point to 1.7 percent, according to the Ministry of Economy and Finance. The revised outlooks broadly align with forecasts from other major institutions. The Organization for Economic Cooperation and Development (OECD) has forecast 1 percent growth for this year and 2.1 percent for 2026. The Bank of Korea recently lifted its growth forecast for the country to 1 percent for 2025 and 1.8 percent next year. The ministry said the ADB made the revision considering the recent recovery in domestic consumption led by the government's economic stimulus packages and eased uncertainties surrounding exports on the Korea-U.S. trade deal and robust semiconductor demand. In late October, Se

Dec 10, 2025By Yonhap
ADB ups 2025 growth forecast for Korea to 0.9% on consumption recovery, tariff deal
Economy

Korea adds 225,000 jobs in Nov.; youth employment falls again: data

Korea added more than 220,000 jobs in November, continuing an upward trend in employment this year, but youth employment declined, government data showed Wednesday. The number of employed people stood at 29.05 million last month, up 225,000 from a year earlier, according to the data compiled by the Ministry of Data and Statistics. The increase underscores a continued upward trend in employment throughout this year following a brief decline last December, when the country recorded a net loss of 52,000 jobs. The labor market has shown steady recovery this year, adding 245,000 jobs in May before moderating to 183,000 in June and then jumping to 312,000 in September. In October, the country added 193,000 jobs. However, employment in the manufacturing and construction sectors continued to fall, and youth employment posted its 19th consecutive month of on-year drop in November, indicating ongoing struggles for younger job seekers. The manufacturing sector, considered the backbone of the Korean economy, shed 41,000 jobs from a year earlier, extending its downturn to a 17th consecutive month. The

Dec 10, 2025By Yonhap
Korea adds 225,000 jobs in Nov.; youth employment falls again: data
Economy

K-food exports to reach record high this year: customs agency

Total exports of Korean food products are widely expected to reach an all-time annual high this year, the customs agency said Tuesday, pledging additional support to further boost exports amid the growing global popularity of Korean culture. Total exports of Korean food products through November stood at $10.4 billion, up 7 percent from the same period last year, according to data from the Korea Customs Service. Aggregate exports of food products for the entire year are "certain" to surpass last year's total of $10.7 billion, which marked the highest on record, the agency added. By category, processed foods accounted for the largest share of 60.8 percent of total exports, followed by fisheries goods at 27.5 percent. Instant ramyeon noodles and dried seaweed products, also known in Korean as "gim," were particularly popular, with exports growing 21.4 percent and 13.3 percent on-year, respectively. In a bid to support local food exporters, the customs agency said it plans to introduce new HS Codes, or standardized category codes for traded products, for popular food items, such as ramyeon,

Dec 9, 2025By Yonhap
K-food exports to reach record high this year: customs agency
Economy

Korea's potential growth rate could fall to 0% range by 2040s: BOK chief

Bank of Korea (BOK) Gov. Rhee Chang-yong warned Tuesday that Korea's potential growth rate could fall to the zero percent range by the 2040s, stressing the need to efficiently allocate financial resources to boost the growth potential. Rhee made the remarks in a speech at a BOK symposium co-hosted with the Korean Finance Association in Seoul. "The country's potential growth rate was around 5 percent in the early 2000s but has recently dropped to below 2 percent. If the current trend continues, it could fall to the zero percent range by the 2040s," Rhee said. "It has largely been driven by low birthrates and rapid population aging, which have reduced the working-age population, while corporate investment and innovation to enhance productivity have not been sufficient to offset these trends," he added. Rhee also pointed to "inefficient" allocation of resources, which, he said, has prevented capital from flowing into high-productivity sectors. "The role of finance is more important than ever, as finance serves as essential infrastructure that reallocates limited resources to the most efficie

Dec 9, 2025By Yonhap
Korea's potential growth rate could fall to 0% range by 2040s: BOK chief
Economy

Gov't mulls issuing foreign currency bonds through NPS

The Ministry of Health and Welfare is reviewing the potential issuance of foreign currency bonds through the National Pension Service (NPS) and, if necessary, considering a legal amendment to facilitate the issuance, government officials said Tuesday. The move is in line with a key objective of the four-way consultative body composed of the Ministry of Health and Welfare, the NPS, the Ministry of Economy and Finance and the Bank of Korea (BOK). Launched on Nov. 24, the body aims to enhance coordination on fiscal, monetary and overseas investment policies, in addressing concerns that the NPS’ overseas investments, estimated at more than 580 trillion won ($395 billion), may be contributing to capital outflow. The Korean currency persistently remains at a worrisome level of more than 1,400 won per dollar. Under the circumstances, the government officials said the Division of National Pension Finance under the Bureau of Pension Policy has begun a full-scale review of the need and validity of issuing foreign currency bonds for the NPS. “If diversifying foreign currency funding is deemed ne

Dec 9, 2025By Yi Whan-woo
Gov't mulls issuing foreign currency bonds through NPS
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