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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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Policy

Gov't push for low car insurance premiums creates dilemma for insurers as profits fall

Non-life insurers are facing a car insurance dilemma, as their need for higher premiums to grapple with falling profits clashes with the government’s shared growth initiative, industry officials said Thursday. The government wants to keep premiums low because car insurance has a heavy influence on the consumer price index and affects more than 25 million subscribers — nearly half of Korea’s population. For non-life insurers, however, this strategy has become unsustainable, as they struggle with declining profits while premiums remain largely unchanged. A total of 31 non-life insurers nationwide posted a combined net profit of 6.46 trillion won ($4.39 billion) from January to September, a 19.6 percent drop from a year earlier. The year-on-year decline was largely driven by the car insurance sector, where the five largest insurers — Samsung Fire & Marine Insurance, DB Insurance, Meritz Fire & Marine Insurance, Hyundai Marine & Fire Insurance and KB Insurance — posted a combined loss ratio of 93.2 percent, up 7.1 percentage points from last year. In the third quarter alone, car ins

Nov 21, 2025By Yi Whan-woo
Gov't push for low car insurance premiums creates dilemma for insurers as profits fall
Economy

Exports up 8.2% on-year during first 20 days of November on chip, auto demand

Korea's exports recorded an 8.2 percent on-year gain in the first 20 days of November mainly on the back of strong global demand for semiconductors and automobiles, data showed Friday. Outbound shipments reached $38.5 billion from Nov. 1 to Thursday, compared with $35.6 billion tallied a year earlier, according to the data from the Korea Customs Service. Imports increased 3.7 percent on-year to $36.1 billion during the period, resulting in a trade surplus of $2.4 billion. The agency attributed the increase in outbound shipments to a rise in global demand for semiconductors and automobiles despite U.S. tariff measures. Chip exports jumped 26.5 percent on-year to $9.75 billion, accounting for 25.3 percent of the country's total exports during the cited period. Car exports advanced 22.9 percent to $3.81 billion, while ship exports gained 2.3 percent to $1.15 billion. In contrast, shipments of petroleum products dropped 19.3 percent to $2.14 billion, and steel exports contracted 9.2 percent to $2.25 billion. By destination, exports to China rose 10.2 percent to $8.22 billion, and exports to the

Nov 21, 2025By Yonhap
Exports up 8.2% on-year during first 20 days of November on chip, auto demand
Economy

Korea to raise anti-dumping tariffs for 2 Chinese PET film firms

Korea's trade watchdog decided Thursday to raise anti-dumping tariffs on polyethylene terephthalate (PET) film products imported from two Chinese companies, citing the need to protect domestic companies' market share. The Korea Trade Commission (KTC) said it made a final decision to increase anti-dumping duties on PET film products imported from China's Kanghui New Material Technology Co. to 7.31 percent from the current 2.2 percent. Duties on those imported from Tianjin Wanhua Co. will be hiked to 36.98 percent from the current 3.84 percent, it added. The reexamination request was made by four Korean companies, including Kolon Industries Inc. and Hyosung Chemical Corp., in February. PET films are widely used in various industries, such as packaging, electronics and energy. It marked the first case in which the KTC conducted a reexamination of anti-dumping duties at the request of domestic producers and determined the current tariff rates should be modified. "We reached such a decision as the volume of dumping exports (of the Chinese companies) to Korea will likely increase and raise their

Nov 20, 2025By Yonhap
Korea to raise anti-dumping tariffs for 2 Chinese PET film firms
Economy

Gwangyang named crisis-response zone as local steel-dependent industry faces oversupply pressure

The government on Thursday designated the southern industrial city of Gwangyang, South Jeolla Province, as a special crisis-response zone, as its steel-dependent economy faces mounting strain from global oversupply and intensifying trade protectionism, the industry ministry said. Gwangyang was chosen because the steel sector accounts for 88.5 percent of the city's industrial production, 97.5 percent of exports and 9.7 percent of employment, according to the Ministry of Trade, Industry and Resources. The city will be classified as a special zone for preemptive response to an industrial crisis for the next two years, making its local companies eligible for emergency liquidity support and low-interest policy loan programs, the ministry said. Gwangyang is the fourth city to receive the designation this year, following Yeosu, Seosan and Pohang. Korea has been working to restructure the ailing steel industry, struggling amid the global supply glut and major economies' protectionist trade policies, such as 50 percent U.S. tariffs on all steel imports and the European Union's push for a stronger

Nov 20, 2025By Yonhap
Gwangyang named crisis-response zone as local steel-dependent industry faces oversupply pressure
Economy

Koreans net purchase $3.7 bil. in gold ETFs amid stock turmoil: data

Korean retail investors have been scooping up gold exchange-traded funds (ETFs) this month, data showed Thursday, as they searched for safer assets amid a volatile stock market. Individual investors purchased a net 5.4 trillion won ($3.7 billion) of ACE KRX Gold Spot ETFs from Nov. 3 until Wednesday, according to the data from Yonhap Infomax, the financial arm of Yonhap News Agency. Launched in 2021, the investment product tracks the price of the KRX Gold Spot Index, a benchmark index calculated and published by Korea's main bourse operator, the Korea Exchange (KRX). It is the oldest among the five gold-related ETFs traded on the local stock market. According to the data, retail investors were net buyers of the ACE KRX Gold Spot ETF during the 13-day period, except on Tuesday, when they sold a net 93.4 billion won. Analysts attributed the recent gold rally to the volatile stock market, which closed down over 3 percent multiple times in recent weeks, on growing concerns of an artificial intelligence (AI) bubble. Gold is widely considered a safe asset, as its price tends to hold steady, or e

Nov 20, 2025By Yonhap
Koreans net purchase $3.7 bil. in gold ETFs amid stock turmoil: data
Economy

Finance ministry asks public institutions to accelerate year-end investments

The finance ministry on Thursday called on major public institutions to push ahead with active investment execution through the end of the year, following record-breaking performance in the first half. During a meeting with the 26 major public institutions, Kang Young-kyu, a senior ministry official, urged active investment execution through the year's end, in line with the government's ongoing effort to stimulate the economy. The public entities invested a combined record high of 39.9 trillion won ($27.1 billion) in the first six months of the year, up 2.9 trillion won from the same period last year, according to the Ministry of Economy and Finance. "Such investment efforts contributed to our economic recovery, resulting in real gross domestic product (GDP) growth of 1.2 percent in the third quarter," Kang was quoted by the ministry as saying. The ministry expects this year's total investment by public institutions to reach 69 trillion won, an increase of 3 trillion won from the original annual target.

Nov 20, 2025By Yonhap
Finance ministry asks public institutions to accelerate year-end investments
Economy

Challenges and solutions in era of international taxation

Why does the same product have different prices in different countries? This simple but intriguing question highlights one of the most complex issues in international taxation. Imagine a Korean subsidiary of a multinational company buying components from its headquarters for $100 per unit, while an independent local firm purchases the same item for $80. Should tax authorities simply accept the $100 price? On the surface, it may appear to be a legitimate transaction between a parent and its subsidiary, but for tax administrations, these differences raise important transfer pricing concerns. Transfer pricing refers to the price at which assets, services or intangible rights are exchanged between related entities within a multinational enterprise. If these prices are not adjusted properly, profits can be shifted to certain jurisdictions, resulting in tax avoidance or imbalances in tax revenue. To prevent this, tax authorities worldwide apply the arm’s length principle — a global standard that ensures transactions between related parties are priced as if they occur between independent

Nov 20, 2025By Lee Sung-jin
Challenges and solutions in era of international taxation
Economy

NTS chief underscores global tax cooperation in OECD-hosted meeting

National Tax Service (NTS) Commissioner Lim Kwang-hyun underscored the importance of international cooperation in recovering uncollected taxes during a OECD-hosted meeting of top tax officials in South Africa, the NTS said Thursday. Lim stressed that recovering all tax debts, including those owed by delinquent and evasive individuals, along with properly managing overdue taxes, is critical for achieving tax justice. He made the remarks at the 18th Plenary Meeting of the OECD Forum on Tax Administration (FTA) in Cape Town, attended by 54 countries and multinational financial institutions, including the International Monetary Fund, highlighting Korea’s push for fair and transparent taxation under the Lee Jae Myung administration. These enforcement measures include investigation, seizure and auction of overseas assets held by delinquent taxpayers that are difficult to access domestically. “Commissioner Lim emphasized the importance of achieving tax justice through delinquent tax management and collection cooperation,” the NTS said. The agency noted that the issues Lim raised were among

Nov 20, 2025By Yi Whan-woo
NTS chief underscores global tax cooperation in OECD-hosted meeting
Economy

McKinsey & Co. appoints 3 new partners in Korea

McKinsey & Co. announced the promotion of three associate partners from its Korea office, the global consulting firm said Thursday. They are An Yu-jin, Yeom In-ji and Lew Jeong-hwa. An leads McKinsey’s electric power and natural gas practice in the Seoul office. With over a decade of experience in the energy sector, she has a comprehensive understanding of the critical challenges and evolving needs associated with energy transition. Leveraging her extensive expertise, she has successfully advised a broad range of clients both within Korea and globally, helping them navigate business transformation and identify new growth opportunities. She helped develop a global market entry strategy for offshore wind equipment manufacturers. Her other works include advising an energy developer on mid- to long-term growth strategies and business models for renewable energy and energy solutions. An also identified energy storage system opportunities and developed a U.S. market entry strategy for a power equipment manufacturer. She led a corporate-wide transformation across for one of the world’s larg

Nov 20, 2025By Lee Kyung-min
McKinsey & Co. appoints 3 new partners in Korea
Economy

Banks' earnings up 12% in January to September period on non-interest income

Korean banks' combined net profit jumped 12 percent from a year earlier in the first nine months of 2025 on a sharp rise in non-interest income, data showed Thursday. The combined net profit of 20 banks came to 21.1 trillion won ($14.5 billion) in the January-September period, up 2.3 trillion won from 18.8 trillion won recorded a year ago, according to the data from the Financial Supervisory Service (FSS). Their interest income came to 44.8 trillion won in the January-September period, up 0.3 trillion won, or 0.7 percent, from a year earlier. Non-interest income came to 6.8 trillion won, up 1.1 trillion won, or 18.5 percent, over the cited period, according to the FSS. Their costs to cover loan losses came in at 4.7 trillion won in the first nine months of the year, up 0.1 trillion won, or 2.4 percent, from a year before. The banks' return on assets ratio rose to 0.67 percent in the first nine months of the year from 0.66 percent a year earlier, while their return on equity ratio rose 0.17 percentage point to 8.99 percent over the cited period, the data showed.

Nov 20, 2025By Yonhap
Banks' earnings up 12% in January to September period on non-interest income
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