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  • Cryptocurrency

    Finance minister nominee backs January crypto tax rollout despite industry, opposition pushback

    The nominee to head the Ministry of Finance and Economy expressed his intention on Sunday to implement the cryptocurrency tax next January as scheduled, despite pushback from both industry players and opposition lawmakers. In written materials submitted to the National Assembly ahead of a confirmation hearing slated for Tuesday, Lee Hyoung-il, who currently serves as first vice finance minister, noted that specific tax rules would be finalized through a National Tax Service public notice by year-end, ensuring taxpayers face no confusion when filing. He also defended classifying crypto asset income as miscellaneous income under the current tax framework, calling it an “appropriate” approach to applying taxpayer-friendly measures, such as a basic deduction and a single tax rate. “Given that stock trades involving major shareholders, foreign equities and unlisted shares, along with transaction taxes, are already subject to taxation, extending tax rules to crypto assets is essential for tax fairness,” he said. The crypto tax regime treats profits from transferring or lending digital

    3 MIN READBy Jun Ji-hye
    Finance minister nominee backs January crypto tax rollout despite industry, opposition pushback
  • Economy

    Korean construction stocks rise on nearing US investment deal

    2 MIN READBy Park Han-sol
    Korean construction stocks rise on nearing US investment deal
  • Economy

    More young Koreans look to stocks, bonds as retirement nest egg

    3 MIN READBy Park Han-sol
    More young Koreans look to stocks, bonds as retirement nest egg
  • Economy

    Foreign investors turn net sellers of Korean bonds in Aug.

    1 MIN READBy Yonhap
    Foreign investors turn net sellers of Korean bonds in Aug.
  • Economy

    KOSPI falls on higher oil prices, global bond yields

    2 MIN READBy Lee Hyo-jin
    KOSPI falls on higher oil prices, global bond yields
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Economy

KRX activates circuit breaker on KOSPI, KOSDAQ, halting trade for 20 minutes

Korea's stock exchange operator on Wednesday triggered circuit breakers on both the benchmark KOSPI and the tech-heavy KOSDAQ markets, suspending trading for 20 minutes, as the market rout continued. After opening 3.44 percent lower, the Korea Composite Stock Price Index (KOSPI) extended its losses, tumbling 8.1 percent to 5,322.93 as of 11:20 a.m. The Korea Exchange (KRX) activated the circuit breakers shortly after the KOSPI fell more than 8 percent, following a 7.24 percent slide the previous session, as mounting concerns over the escalating Middle East conflict rattled investor sentiment. The United States and Israel carried out coordinated strikes on Iran over the weekend, killing Iran's Supreme Leader Ayatollah Ali Khamenei. U.S. President Donald Trump signaled the possibility of a prolonged military campaign.

Mar 4, 2026By Yonhap
KRX activates circuit breaker on KOSPI, KOSDAQ, halting trade for 20 minutes
Economy

NXT says it handled nearly 30% of country's stock trading value in 1st year

Nextrade, Korea's first alternative trading system (ATS), said Wednesday it accounted for nearly 30 percent of the country's total stock market trading value during its first year of operation. According to NXT, the cumulative value of stocks traded on its platform totaled 2,338 trillion won (US$1.58 trillion) between March 4, 2025, and end-February. The tally represents 28.8 percent of total trading value in the domestic stock market, including transactions on the Korea Exchange (KRX), according to NXT. Notably, the daily average trading value of stocks in the pre-and after-hours market grew by more than eightfold from 1.1 trillion won to 8.9 trillion won during the cited period, the exchange said. Going forward, NXT said it plans to provide diversified investment options, including exchange traded funds, fractional investment products and tokenized securities. Launched in March of last year, NXT runs for 12 hours from 8 a.m. to 8 p.m., longer than the trading hours from 9 a.m. to 3:30 p.m. of the main KRX bourse. It also offers lower fees compared with the main bourse and introduces dif

Mar 4, 2026By Yonhap
NXT says it handled nearly 30% of country's stock trading value in 1st year
Economy

BOK warns of excessive FX volatility diverging from fundamentals

The central bank said Wednesday it will closely monitor whether the local currency is moving excessively out of sync with economic fundamentals amid heightened tensions in the Middle East. The pledge was made during an emergency task force meeting presided over by Bank of Korea (BOK) Gov. Rhee Chang-yong, as the Korean won has fallen sharply toward a yearly low and financial markets have shown increased volatility amid concerns that the U.S.-Israel military operation against Iran could escalate into a prolonged regional war. "Though the won-dollar exchange rate briefly rose above the 1,500-won level overnight, unlike past crises, dollar liquidity remains ample and Korea's external borrowing spreads and credit default swap (CDS) premiums are stable," the BOK said in a statement. "Volatility in the exchange rate and other key financial indicators could persist depending on developments in the Middle East. We will closely monitor any excessive movements away from fundamentals and respond in a timely manner in coordination with the government if needed," it added. The won opened at 1,479 per

Mar 4, 2026By Yonhap
BOK warns of excessive FX volatility diverging from fundamentals
Economy

Korean won sinks toward yearly low amid Middle East crisis

The Korean won fell markedly against the U.S. dollar Wednesday, nearing its lowest level of the year, as heightened risk aversion weighed on the currency amid escalating tensions in the Middle East. The won was quoted at 1,476.2 won per dollar, down 10.1 won from the previous session, extending its losses for the third consecutive session. It marked the weakest level since Jan. 20, when it stood at 1,478.1 per dollar. The currency had hovered above the key 1,450 won threshold in recent weeks after rebounding from a multiyear low near 1,500 won late last year, but has fallen sharply this week in line with a broad dollar rally amid concerns that the U.S.-Israel operation could escalate into a prolonged regional war. Overnight, the currency briefly slid past the 1,500 won mark, breaching the psychologically important level for the first time since March 2009, when the country was grappling with the global financial crisis. "Risk-off sentiment has intensified, boosting demand for the safe-haven dollar. The dollar's strength is likely to persist until geopolitical risks ease," Park Hyung-joong

Mar 4, 2026By Yonhap
Korean won sinks toward yearly low amid Middle East crisis
Economy

Seoul shares crash over 12% on Middle East conflict fears; won sharply down

Seoul shares plunged over 12 percent Wednesday to close below the 5,100-point mark amid growing concerns over the economic fallout from the Middle East conflict. The Korean won fell sharply against the U.S. dollar. The Korea Composite Stock Price Index (KOSPI) extended its losses, tumbling 698.37 points, or 12.06 percent, to close at 5,093.54, following a plunge of over 7.24 percent the previous session. The Korea Exchange (KRX) triggered circuit breakers shortly after the KOSPI fell more than 8 percent amid heightened geopolitical tensions. Institutions sold a net 579.4 billion won ($393 million) worth of stocks, offsetting foreigners and individuals' stock purchases of 228.78 billion won and 72.9 billion won, respectively. The Korean won was quoted at 1,476.20 won against the U.S. dollar at 3:30 p.m., down 10.1 won from the previous session's close.

Mar 4, 2026By Yonhap
Seoul shares crash over 12% on Middle East conflict fears; won sharply down
Economy

Industrial output down 1.3% in Jan.; consumption, investment gain ground

Korea's industrial output dipped from a month earlier in January amid a slowdown in construction and manufacturing production, while private consumption and facility investment went up, government data showed Wednesday. Industrial production dropped 1.3 percent on-month in January, according to the data from the Ministry of Data and Statistics. Retail sales remained unchanged, but private consumption rose 2.3 percent over the cited period. Facility investment added 6.8 percent, led by increased investment in machinery and transportation equipment.

Mar 4, 2026By Yonhap
Industrial output down 1.3% in Jan.; consumption, investment gain ground
Economy

Korean won drops below 1,500 per dollar for first time since 2009 financial crisis

The Korean won fell past the 1,500 mark against the U.S. dollar early Wednesday for the first time since March 2009 during the global financial crisis, as escalating military clashes involving the U.S., Israel and Iran sent investors rushing to the dollar. According to Reuters and other foreign media reports, the won-dollar exchange rate briefly broke above 1,500 won at around 12:20 a.m. on Wednesday. The rate extended gains to as high as 1,506 won before retreating below the 1,500 won level. The move reflected a sharp surge in the dollar amid heightened geopolitical uncertainty. The breach marked the first time in 17 years that the won-dollar rate had crossed the 1,500 threshold, a level widely viewed as a psychological support line in local currency markets and last seen during the global financial crisis.

Mar 4, 2026By Jane Han
Korean won drops below 1,500 per dollar for first time since 2009 financial crisis
Economy

Seoul stocks plunge over 7% due to Iran war, oil surge

The benchmark KOSPI lost more than 7 percent, Tuesday — the biggest fall in more than 18 months — amid heightened Middle East tensions following U.S.-Israeli strikes on Iran over the weekend. The Korean currency also fell more than 26 won against the U.S. dollar in onshore trading, marking its steepest decline this year and fueling ongoing concerns that it could reach the worrisome 1,500-won level. Seoul financial markets jittered as they reopened following a long weekend, joining other Asian markets that were hit by the Middle East conflict and fluctuating international oil prices, which climbed toward $80 per barrel. KOSPI closed at 5,791.91 points, down 452.22 points, or 7.24 percent, from the previous session, Friday, before the U.S.-Israeli strikes on Iran. The pace of decline was the steepest since Aug. 5, 2024, when it fell 8.77 percent amid fears of a U.S. recession. The main index started 1.26 percent lower at 6,165 points and, after briefly recovering above 6,180 points, saw the decline accelerate. The steep fall triggered a sidecar trading curb as the KOSPI 200 futures inde

Mar 3, 2026By Yi Whan-woo
Seoul stocks plunge over 7% due to Iran war, oil surge
Others

KRX strives to elevate KOSPI as one of world’s best capital markets on 70th anniv.

Korea must leverage the ongoing KOSPI rally to cement itself as a top-tier global capital market, competing head on with its advanced peers, the head of the bourse operator said Tuesday. Korea Exchange (KRX) Chairman Jeong Eun-bo said central to the drive will be continued market reforms to improve access for foreign investors. Included are English-language disclosures, extended trading hours and shorter settlement cycles in line with global norms, ultimately seeking inclusion in the MSCI Developed Markets Index. Short for Morgan Stanley Capital International, the index is a premier benchmark tracking large and mid-cap equities across 23 developed markets, covering roughly 85 percent of the free float-adjusted market capitalization. Korea is being considered for an upgrade to developed market status, which could take effect in 2027. “Our goal now is to become one of the world’s best capital markets,” Jeong said during a celebration of the 70th anniversary of the country’s securities market at Hotel Lotte in Seoul. “KOSPI has surged past 6,000 points and climbed to ninth place g

Mar 3, 2026By Lee Kyung-min
KRX strives to elevate KOSPI as one of world’s best capital markets on 70th anniv.
Policy

NPS draws attention as votes on reappointments of Shinhan, Woori chairmen loom

The National Pension Service (NPS) is drawing attention over whether it will actively exercise its voting rights on corporate governance at shareholder meetings of financial holding companies later this month, market observers said Tuesday. The state-run pension fund operator is particularly under the spotlight regarding its stance on the reappointments of two chairmen — Jin Ok-dong of Shinhan Financial Group and Yim Jong-yong of Woori Financial Group. As a major shareholder of multiple listed firms, the NPS has long faced expectations from financial authorities to address corporate governance and other transparency-related agendas set by the government. This year, those expectations are heightened following President Lee Jae Myung’s criticism of management at financial holding companies a “corrupt inner circle.” The criticism was made in December 2025, when the president cited a lack of transparency in the CEO selection process, including extended or rotating tenures. At Shinhan and Woori, Jin and Yim will complete their first three-year terms at the end of March and have effecti

Mar 3, 2026By Yi Whan-woo
NPS draws attention as votes on reappointments of Shinhan, Woori chairmen loom
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