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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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Concerns rise over budget minister nominee’s fiscal policies

Concerns over the country’s fiscal discipline are growing, prompted by the nomination of four-term ruling Democratic Party of Korea (DPK) lawmaker Park Hong-keun to lead the Ministry of Planning and Budget, market watchers said Tuesday. Many say the close aide to President Lee Jae Myung is largely expected to advance Lee’s expansionary fiscal drive, which includes the drafting of a supplementary budget, with long-term fiscal prudence potentially being undermined by short-term political objectives. Also concerning to some is the diminished power of Finance and Economy Minster Koo Yun-cheol, whose role overseeing broader macroeconomic policies and economic growth plans will be eclipsed by Park’s budget-backed agendas. “I will outline a sustainable fiscal policy to support the Korean economy, which is facing low growth, demographic challenges and widening inequality,” Park said before entering the site of his confirmation hearing in Seoul. Under his leadership, he added, the ministry will strengthen its long-term strategy, prioritizing future industries. “The ministry’s future

Mar 3, 2026By Lee Kyung-min
Concerns rise over budget minister nominee’s fiscal policies
Economy

Korea's GDP growth may shed 0.45 percentage point if oil prices stay high: Citibank

Korea's gross domestic product (GDP) growth for 2026 could fall by nearly 0.5 percentage point should oil prices remain high in light of alarming geopolitical developments in the Middle East, a report showed Tuesday, According to the report published by Citibank, analyst Kim Jin-woo projected Korea's GDP growth rate to fall by 0.45 percentage point this year if oil prices stay above an average of $82 per barrel. The bank's base case for Brent oil prices, the international oil benchmark, was $62 per barrel for the remainder of the year. With the same assumption, the report expected Korea's consumer price index (CPI) inflation to rise by 0.6 percentage point and the country's current account balance for the year to fall by 2.25 percentage points. Such an assessment comes in the wake of a jump in oil prices amid intensifying Middle East geopolitics following the United States' air strikes against Iran over the weekend. Brent crude futures closed nearly 7 percent higher at $77.74 per barrel on Monday, the first trading day after the U.S. and Israel launched large-scale military operations aga

Mar 3, 2026By Yonhap
Korea's GDP growth may shed 0.45 percentage point if oil prices stay high: Citibank
Economy

Korea Exchange issues sell-side circuit breaker after sharp drop

The main bourse operator, the Korea Exchange (KRX), on Tuesday issued a sell-side circuit breaker, temporarily halting trading after a sharp drop sparked by market concerns over U.S. airstrikes on Iran. Selling of the KOSPI 200 Futures index was suspended for five minutes at 12:05 p.m., according to KRX. The index fell 47.75 points, or 5.09 percent, to 890.05 at that time. It marked the first sell-side circuit breaker since Jan. 6. A sell-side sidecar is triggered when the KOSPI 200 Futures index drops 5 percent or more for at least one minute.

Mar 3, 2026By Yonhap
Korea Exchange issues sell-side circuit breaker after sharp drop
Others

Credit card dormancy hits record rate, reflecting heated market

More credit cards than ever are remaining dormant, reaching a record share of all cards issued as firms engage in fierce competition to attract customers, data showed Monday. The statistics, released by the Credit Finance Association, showed that dormant credit cards — defined as those unused for over a year and temporarily suspended — rose to 14.9 percent of all issued cards in 2025. According to the association, the surge in dormant cards reflects excessive competition among credit issuers, each vying to lure customers from rivals in a time of weakening profitability. The association highlighted the steady upward trend of card dormancy, which has risen from less than 10 percent in 2021 to 13.9 percent in 2024. The number of dormant cards has increased roughly four times faster than the total number of cards issued in recent years. Dormant cards rose 24 percent compared with 6.4 percent for all cards in 2022, 13 percent versus 3.7 percent in 2024 and 9 percent versus 2 percent in 2025. “In a limited market, credit card companies repeatedly engage in short-term, zero-sum competition

Mar 3, 2026By Yi Whan-woo
Credit card dormancy hits record rate, reflecting heated market
Economy

Hormuz disruption feared to hurt Korean economy

Concerns are mounting that the Korean economy could take a hit from disruptions to oil and gas shipments through the Strait of Hormuz, following U.S. and Israeli military strikes on Iran that began Saturday and killed Iranian Supreme Leader Ayatollah Ali Khamenei. James Kim, director of the Korea program at the U.S. think tank Stimson Center, warned that the conflict in the Middle East could hurt Korea’s energy supply, given the country’s dependence on the region for 70 percent of its crude oil imports and 30 percent of its natural gas supply. "As long as the conflict does not have a prolonged impact on the movement of cargo across the Strait of Hormuz, South Korea will manage," Kim said Saturday. "But if the conflict drags on for a prolonged period with the Strait of Hormuz being inaccessible to international shipping, there is likely to be a noticeable impact on South Korea's ability to not only keep its lights on but also manufacture and export products as part of the global supply chain." The Korea International Trade Association also warned of a possible spike in shipping costs

Mar 2, 2026By Park Jae-hyuk
Hormuz disruption feared to hurt Korean economy
Policy

InterviewBlue Ocean Technologies leverages Seoul office to make Korea center of Asia-Pacific strategy

Korea is cementing its central role in Blue Ocean Technologies’ Asia-Pacific strategy, with its Seoul office — which just marked its first anniversary — propelling overnight U.S. stock trading in the region, CEO and President Brian Hyndman said Thursday. He said the Seoul office has been instrumental in regaining customers since its launch in February 2025, turning a crisis in August 2024 caused by a system outage into an opportunity to hone technological and sales capabilities. The rebound is especially crucial as Blue Ocean Technologies, once the sole competitor in Korea’s alternative trading system (ATS) for U.S. stocks, now faces competition from other ATS operators in the wake of the 2024 incident, according to the CEO. “Korea is the headquarters and the center of our Asia-Pacific business, and we were very focused on hiring local talent after the outage,” Hyndman said during an interview with The Korea Times in Seoul’s financial district of Yeouido. He explained that Asia represents about half of Blue Ocean Technologies’ more than 140 brokerage houses, with customer

Mar 2, 2026By Yi Whan-woo
Blue Ocean Technologies leverages Seoul office to make Korea center of Asia-Pacific strategy
Others

KOSPI expected to face limited shock from Middle East tensions, won may weaken

The benchmark KOSPI may open lower Tuesday, due to escalating geopolitical tensions between the U.S. and Iran. However, a wider shock would be limited, mitigated by retail investors “buying the dip” to join the semiconductor-driven rally, market watchers said Monday. However, concerns are rising that the recently stabilized Korean currency could weaken again to the significant threshold of 1,500 won per dollar, affected by surging oil prices. Some say a full blockade of the Strait of Hormuz could push crude prices up to $130 per barrel. However, this is likely to be offset by accelerated output increases from oil-producing OPEC+ members. OPEC+ is a coalition of the 12 member countries of the Organization of the Petroleum Exporting Countries (OPEC) plus 10 additional major oil-producing nations, led by Russia. Together, they control roughly 40 percent of global crude production. According to local media reports, U.S. President Donald Trump suggested the conflict with Iran could take “four weeks or less,” a comment made after strikes hit Iran’s nuclear and military infrastructure

Mar 2, 2026By Lee Kyung-min
KOSPI expected to face limited shock from Middle East tensions, won may weaken
Economy

Top financial groups activate crisis-response system amid Middle East tension

Korea's five major financial holding companies said Monday they have activated emergency response systems to support local businesses operating in or exporting to the Middle East, following joint U.S.-Israeli military strikes on Iran. The United States and Israel launched coordinated airstrikes on Iran on Saturday (U.S. time) in a large-scale military operation that killed Iran's Supreme Leader Ali Khamenei amid a prolonged stalemate in indirect nuclear talks between Washington and Tehran. The five financial firms are KB Financial Group, Shinhan Financial Group, Hana Financial Group, Woori Financial Group and NongHyup Financial Group. The firms are closely monitoring potential volatility in foreign exchange rates, interest rates and global oil prices, while extending loan maturities and preparing financial support packages for companies with business exposure to the Middle East, an industry official said. KB Financial, the country's largest financial group by assets, said it plans to provide loans of up to 500 million won ($343,000) per company at preferential interest rates to firms see

Mar 2, 2026By Yonhap
Top financial groups activate crisis-response system amid Middle East tension
Policy

Chronic clustering of shareholder meetings undermines government-led campaign again this year

More than 70 percent of KOSPI-listed companies schedule this year’s shareholder meetings on just three overlapping days, a chronic and troubling practice that undermines a government-led campaign to spread dates and boost shareholder participation. According to the Korea Listed Companies Association, 436 of the 593 companies on the main index — about 73 percent — cram their shareholder meetings into March 24, 26 or 31, with 272 of them holding theirs on March 26, the busiest day. The companies involved include Hyundai Motor and Doosan Enerbility, all ranked in the top 10 by market capitalization. The heavily concentrated schedule persists despite financial authorities' yearslong efforts to spread out meeting dates and enhance the rights of individual investors. Market observers said shareholder participation is becoming increasingly important as more Koreans invest in the stock market, with the KOSPI accelerating its rally and surpassing key milestones, including the 6,000-point mark. “Under the circumstances, the crammed schedule highlights that the government’s efforts are not

Mar 2, 2026By Yi Whan-woo
Chronic clustering of shareholder meetings undermines government-led campaign again this year
Others

KITA warns of logistics risks if Strait of Hormuz blocked

Korea could face serious uncertainty in its export and import logistics if Iran blocks the strategic Strait of Hormuz, the Korea International Trade Association (KITA) said Sunday. KITA held an emergency meeting at its Trade Tower headquarters, presided over by Chairman Yoon Jin-sik, to review potential risks amid escalating U.S.-Iran tensions and discuss contingency measures. The Strait of Hormuz, a narrow waterway linking the Persian Gulf and the Gulf of Oman, is a vital route for global oil. About 27 percent of the world’s seaborne oil passes through its 55-kilometer width, with tankers able to navigate only a 10-kilometer channel within Iranian waters. Following the joint U.S.-Israeli military operation, Iran’s Revolutionary Guard warned that no ships would be allowed to transit the waterway. Korea imports 70.7 percent of its crude oil and 20.4 percent of its liquefied natural gas (LNG) from the Middle East, making energy supplies highly vulnerable to any blockade. KITA noted that while alternative routes via major Omani ports are possible, their practical feasibility is uncerta

Mar 1, 2026By Lee Gyu-lee
KITA warns of logistics risks if Strait of Hormuz blocked
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