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  • Others

    Foreign investors return to KOSPI buying, powering rally above 8,000

    Foreign investors returned to net buying in the KOSPI market on Friday for the first time in 25 trading days, fueling a sharp rally that briefly sent the benchmark index soaring past the 8,400 mark during intraday trading. KOSPI opened 6.44 percent higher at 8,263.85, up 499.90 points from the previous session, and briefly surged as much as 8.5 percent to hit an intraday high of 8,424.13 before paring gains to close at 8,123.62, up 359.67 points, or 4.63 percent, on the day. The rapid advance in KOSPI futures prompted the Korea Exchange to activate a sidecar, temporarily halting program buy orders early in the trading session. Foreign investors played a pivotal role in KOSPI’s rebound, snapping a prolonged selling streak with net purchases of 2.12 trillion won ($1.4 billion) on the day. Institutional investors also lent strong support, buying a net 2.4 trillion won in stocks. The return to net buying came after nearly a month of heavy foreign outflows that had weighed on the market. Before Friday, overseas investors had sold a net 75.6 trillion won worth of KOSPI shares over 24 straigh

    3 MIN READBy Jun Ji-hye
    Foreign investors return to KOSPI buying, powering rally above 8,000
  • Economy

    Rate hike seen as strongest tool to support won as FX measures lose impact

    2 MIN READBy Lee Hyo-jin
    Rate hike seen as strongest tool to support won as FX measures lose impact
  • Economy

    Fraudulent ChatGPT Pro charges spark alarm over unauthorized use of stolen card data

    2 MIN READBy Lee Hyo-jin
    Fraudulent ChatGPT Pro charges spark alarm over unauthorized use of stolen card data
  • Policy

    5 nations sign AI alliance pact to shape global tech rules

    2 MIN READBy Jhoo Dong-chan
    5 nations sign AI alliance pact to shape global tech rules
  • Economy

    Korean won gains on renewed hope of U.S.-Iran peace deal, foreign net buying

    1 MIN READBy Yonhap
    Korean won gains on renewed hope of U.S.-Iran peace deal, foreign net buying
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Economy

Banks' lending rates fall in October despite uptick in mortgage rates

Banks' overall loan rates edged down in October amid the central bank's monetary easing cycle, though mortgage rates climbed for the first time in 10 months due to authorities' tighter lending regulations, data showed Wednesday. The average interest rate on new bank loans came to 4.02 percent last month, down 0.01 percentage point from September, according to data from the Bank of Korea (BOK). In detail, the average rate on corporate loans fell 0.03 percentage point to 3.96 percent in October, marking the fifth consecutive monthly fall. In contrast, the rate on new household loans rose 0.07 percentage point to 4.24 percent, marking the first increase since December last year. Home-backed mortgage loans went up by 0.02 percentage point to 3.98 percent and jeonse loans also increased by 0.02 percentage point to 3.78 percent, while credit loan rates fell by 0.12 percentage point to 5.19 percent. "The share of general credit loan rates, which carry relatively higher interest rates, expanded, leading to an overall rise in household loan rates," a BOK official said. Jeonse is a unique housing re

Nov 26, 2025By Yonhap
Banks' lending rates fall in October despite uptick in mortgage rates
Others

Salaried workers dismayed social welfare benefits exceed NPS payouts

Kim Ji-hoon, 41, an office worker in Seoul, says he couldn’t help but feel speechless at the news about the country’s state-paid monthly subsidy for the poorest households exceeding the National Pension Service (NPS)'s average monthly payout. “I’ve been paying a monthly NPS premium for 17 years, since I began my job at a company in Seoul,” he said. “The news I might receive less than someone who paid nothing at all was unsettling to put it mildly.” Kim said he has nothing against government welfare programs designed to protect society’s most vulnerable. However, he expressed surprise that low-income groups could receive more in monthly income than him, since decades of his contributions to the state-run pension system do not guarantee his post-retirement well-being. “I mean, the monthly premium is taken from salaried workers in the form of withholding tax, meaning I cannot refuse to subscribe to it even when I don’t want to. The fact that vulnerable groups that have not made any contribution at all may receive more than me is just not right.” He said he is not demoni

Nov 26, 2025By Lee Kyung-min
Salaried workers dismayed social welfare benefits exceed NPS payouts
Policy

Finance chief pledges 'decisive action' in case of excessive FX market volatility

Finance Minister Koo Yun-cheol said Wednesday that the government will take "decisive action" if excessive volatility occurs in the foreign exchange (FX) market, as the Korean won continues to weaken against the U.S. dollar. "The won tends to react more sensitively compared with other currencies," the minister told reporters. "We will take decisive action if volatility expands excessively," he added, stressing that FX authorities are also closely monitoring speculative trading and one-sided market movements. The fast pace of the won's recent decline has prompted the Ministry of Economy and Finance, the Bank of Korea, the National Pension Service (NPS) and the Ministry of Health and Welfare overseeing the pension fund to form a joint consultation body. The four-way group held its inaugural meeting on Monday to explore ways to balance the NPS' investment returns with stability in the FX market, creating what the minister calls a "new framework." "Discussions on the new framework are not intended as a temporary measure to mobilize the NPS to counteract the won's depreciation," the minister s

Nov 26, 2025By Yonhap
Finance chief pledges 'decisive action' in case of excessive FX market volatility
Economy

Retail sales up 6.7% in October on longer-than-usual Chuseok holiday: data

Retail sales in Korea rose 6.7 percent from a year earlier last month, led by increased buying during the extended Chuseok holiday, government data showed Wednesday. The combined sales of 23 major offline and online retailers came to 16.3 trillion won ($11.1 billion) in October, up from 15.2 trillion won a year ago, according to the data compiled by the Ministry of Trade, Industry and Resources. Officials attributed the growth largely to a rise in sales from large discount stores and department stores, boosted by the Chuseok holiday, which ran longer than usual. The holiday period ran for seven days this year as Chuseok fell between two other national holidays — National Foundation Day on Oct. 3 and Hangeul Day on Oct. 9. Sales at offline stores rose 6.6 percent on-year, while online sales advanced 6.8 percent in October. In detail, department stores saw sales rise 12.2 percent, while large discount stores posted a 9.3 percent on-year gain. Sales at convenience stores inched up 0.7 percent, marking the fourth consecutive month of on-year growth, according to the ministry. In contrast, sal

Nov 26, 2025By Yonhap
Retail sales up 6.7% in October on longer-than-usual Chuseok holiday: data
Economy

Seoul to set up special corporation for $350 bil. investment pledge to US

Korea will "temporarily" establish a strategic investment corporation that will operate a special fund for the country's $350 billion investment in the United States as agreed under a bilateral tariff deal finalized last month, the government said Wednesday. The envisioned corporation, tentatively named Korea-U.S. Strategic Investment Corp., will be created for a maximum 20-year operation under a special bill submitted by the ruling Democratic Party of Korea to support Seoul's investment plans in the U.S., the finance and industry ministries said in a joint press release. The government had aimed to submit the bill within this month after President Lee Jae Myung and U.S. President Donald Trump finalized the details of Seoul's $350 billion investment pledge, made in exchange for lower U.S. tariffs, during their summit in Gyeongju on Oct. 29. Under the final terms, the investment will consist of $200 billion in cash installments, with an annual cap set at $20 billion and an additional $150 billion for bilateral shipbuilding cooperation. In return, the U.S. administration agreed to reduce t

Nov 26, 2025By Yonhap
Seoul to set up special corporation for $350 bil. investment pledge to US
Economy

Finance chief says Korea's economy at 'turning point' to reshape growth trajectory for decades

Finance Minister Koo Yun-cheol said Wednesday that Korea's economy is at a "turning point" that will shape its growth trajectory for decades, vowing to push ahead with projects aimed at creating new growth engines. The government earlier announced 15 flagship projects under President Lee Jae Myung's five-year economic development blueprint to build what it calls a "super-innovation economy." The government views the next five years as the nation's final window to secure long-term, sustainable growth and aims to deliver tangible results by 2030. "(Korea) must strengthen its competitiveness in advanced industries, including artificial intelligence (AI), to stay ahead in the global race for technological dominance," Koo said while presiding over an economy-related ministers' meeting to discuss the projects. To do so, the government will accelerate establishing task forces for six initiatives in three energy-related fields — next-generation solar power, power grids and green hydrogen. It is also planning to make large-scale fiscal investments and push for aggressive regulatory reforms. In a

Nov 26, 2025By Yonhap
Finance chief says Korea's economy at 'turning point' to reshape growth trajectory for decades
Economy

Seoul kicks off annual export fair with K-consumer goods on center stage

Korea's major export fair kicked off Wednesday, with this year's focus on promoting Korean consumer goods, such as beauty and food products, amid soaring global popularity of Korean culture, the industry ministry said. The 2025 Korea Grand Sourcing Fair (KGSF) is set to run through Thursday in Seoul, bringing together 880 Korean firms and 150 foreign buyers from 30 countries, including U.S.-based retail giant Walmart, Japanese retailer Marui and Chinese variety store chain Miniso, according to the Ministry of Trade, Industry and Resources. In particular, around 70 percent of Korean participants in this year's event are beauty- and food-related companies, reflecting the global demand for Korean consumer goods, the ministry said. "Accumulated exports of consumer goods have reached $85.7 billion in the first 10 months of 2025 with the global spread of K-culture," said Kang Kam-chan, deputy minister for trade and investment, calling consumer goods a "new growth engine" for Korea's exports. Kang said the government will devise various support measures to expand the country's shipments of cons

Nov 26, 2025By Yonhap
Seoul kicks off annual export fair with K-consumer goods on center stage
Economy

Korean won strengthens against US dollar after authorities' response pledge

The Korean currency rose against the U.S. dollar on Tuesday for the first time in seven sessions, supported by foreign stock buying and a pledge by local authorities to take measures to stabilize the foreign exchange market. The won was quoted at 1,472.4 per dollar as of 3:30 p.m., up 4.7 won from the previous session. The local currency had fallen for six consecutive sessions through Monday, hitting its weakest level since April 9, when it closed at 1,484.1 won. The April level was the lowest since March 12, 2009, when the won settled at 1,496.5 per dollar during the global financial crisis. In response to the recent volatility, the finance ministry, the Bank of Korea (BOK), the National Pension Service (NPS) and the welfare ministry overseeing the pension fund have established a four-way consultation body to discuss ways to balance the NPS' investment returns with stability in the foreign exchange market, and held an inaugural meeting on Monday. The won's strengthening also came as offshore investors purchased local equities, shrugging off valuation concerns surrounding artificial intel

Nov 25, 2025By Yonhap
Korean won strengthens against US dollar after authorities' response pledge
Economy

Exporters flagged as next lever for stabilizing won amid dollar outflow

Export-oriented corporations are being flagged as the next focus of government efforts to slow the Korean won’s sharp decline against the U.S. dollar, after first targeting the National Pension Service (NPS), economists and analysts said Tuesday. The companies posted an all-time-high average monthly balance of $91.88 billion in foreign currency deposits for the third quarter of this year, driven by businesses receiving export earnings in dollars and keeping them, instead of converting them into won, according to the Bank of Korea (BOK). These exporters’ practice of retaining overseas currencies is seen as contributing to the won's continued depreciation, alongside the NPS’ overseas investments of over 580 trillion won ($393.27 billion) and a more than eight-fold increase in U.S. stock purchases by retail investors over the past four years, now totaling $29.2 billion. The won has persistently remained in the worrisome threshold of 1,400 won per dollar, hitting a seven-month low of 1,477.1 won at the close of Monday’s daytime trading session. It bounced back slightly on Tuesday, ga

Nov 25, 2025By Yi Whan-woo
Exporters flagged as next lever for stabilizing won amid dollar outflow
Cryptocurrency

How blockchain could let fans own piece of favorite K-pop songs

Intellectual property (IP) has become one of the most powerful economic engines of the digital age — especially in entertainment, where content can fuel entire industries. Korea's global success in exporting K-pop, webtoons and dramas offers a vivid example. Yet despite an estimated $60 trillion in value, the global IP market remains largely illiquid and opaque. Most transactions occur behind closed doors, brokered through private contracts or corporate licensing deals. This lack of transparency has left the market underleveraged, industry officials say. A report from the Korea Institute of Intellectual Property found that securitizing and making domestic music copyrights tradable could create a market worth up to 22 trillion won ($14.9 billion). That’s nearly 10 times the value of Korea's music industry exports in 2024, which totaled around 2 trillion won. One blockchain startup is betting it can change that. Aria Protocol, established this January, is building a tokenized IP platform that allows such rights to be fractionalized, traded and monetized on blockchain. The company's found

Nov 25, 2025By Lee Yeon-woo
How blockchain could let fans own piece of favorite K-pop songs
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