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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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KOSPI rally fuels record exodus from long-term bank savings

Lee Joo-young, an office worker in his 30s, recently broke a three-year deposit to put the money into large-cap semiconductor stocks. “I thought the stock market boom would be short-lived, but I guess I was wrong,” he said. “Better late than never, right? I don’t want to leave cash for two or more years while feeling frustrated for missing out. The past few months have been enough. I will stop feeling jealous or bitter for not taking the chance sooner.” Many of his friends made quick money after buying SK hynix and Samsung Electronics, some of them having taken out stock loans for larger gains. “Every time we said SK hynix share prices were too high and soon would fall, they climbed higher. Is it too late? Maybe, but maybe not, since the semiconductor supercycle is reportedly locked in for the next few years. Samsung Electronics shares are not what they used to be. Who would have thought they would top 200,000 won ($139)?” Lee said. Similarly, Lim Sung-yoon, another office worker, said stock investments were a frequent topic of conversation in her daily life. “When I meet

Feb 25, 2026By Lee Kyung-min
KOSPI rally fuels record exodus from long-term bank savings
Economy

Overseas card spending hits record high in 2025 on rising travel demand

Koreans' overseas card spending reached an all-time high in 2025, driven by increased overseas travel and cross-border purchases, data showed Wednesday. The amount of money spent abroad by Koreans using credit and debit cards totaled $22.91 billion last year, up 5.5 percent from a year earlier, according to the data from the Bank of Korea (BOK). "Demand for overseas travel has increased, while cross-border online shopping, such as direct overseas purchases, app store spending and subscription payments, has also expanded," a BOK official said. The number of outbound travelers advanced 3 percent on-year to 29.55 million last year. Overseas direct purchases via credit cards increased 1 percent from a year earlier to $5.98 billion in 2025. By card type, spending with credit cards and debit cards gained 1.3 percent and 15.7 percent on-year, respectively, the data showed. Meanwhile, non-residents' card spending in Korea climbed 18.2 percent on-year also to a record high of $14.08 billion. "Visits by foreign travelers increased significantly amid the popularity of Korean culture, which led to a ri

Feb 25, 2026By Yonhap
Overseas card spending hits record high in 2025 on rising travel demand
Economy

No. of newborns hits 4-year high in 2025

Korea recorded its highest number of newborns in four years in 2025, with the total fertility rate rising from 0.7 to 0.8 for the first time since 2021, government data showed Wednesday. Data released by the Ministry of Data and Statistics showed a total of 254,457 babies born in 2025. The figure marked the highest level since 2021, when 260,562 newborns were reported. The number of newborns had dropped to 249,186 in 2022, 230,028 in 2023 and 238,317 in 2024. The rebound marks a turnaround in the trend of persistently low birthrates, which has exacerbated the challenges associated with an aging society. The number of newborns in 2025 rose by 16,140 from a year earlier, marking the second consecutive year of year-on-year increase, following a rise of 8,289 in 2024. In particular, the year-on-year change in 2025 represented the biggest increase since 2015, when the number of newborns rose by 35,332. The number of births in 2025 was led by women in their 30s, with those aged 30 to 34 recording 73.2 births per 1,000 women and those aged 35 to 39 at 52 births per 1,000. Those in their 20s saw l

Feb 25, 2026By Yi Whan-woo
No. of newborns hits 4-year high in 2025
Economy

FSS chief urges foreign financial companies to join efforts to invigorate market

The chief of Korea's financial watchdog said Wednesday that foreign financial companies operating here are urged to support efforts to vitalize the local financial markets. In a meeting with the heads of 10 foreign financial firms here, Lee Chan-jin, governor of the Financial Supervisory Service (FSS), said the local stock market is experiencing a historic bull run, which has been backed by policy initiatives and the market's potential. The country's stock index briefly topped the 6,000-point level to set a fresh record high earlier in the day, just about one month after reaching the 5,000 threshold. "Financial authorities are working hard to create an environment for productive finance and implement innovative steps, namely measures for inclusion in the Morgan Stanley Capital International (MSCI) index, to vitalize the capital market," Lee said. Last month, the Seoul government announced a comprehensive road map aimed at securing Korea's inclusion in the developed market index, including a plan to operate the country's foreign exchange (FX) market on a 24-hour basis. The plan represents

Feb 25, 2026By Yonhap
FSS chief urges foreign financial companies to join efforts to invigorate market
Economy

Seoul stocks jump nearly 2% to top 6,000 milestone on chip rally; won sharply up

Seoul shares jumped nearly 2 percent Wednesday to surpass the 6,000-point mark for the first time, lifted by extended gains in technology and automobile stocks. The Korean won sharply rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) advanced 114.22 points, or 1.91 percent, to finish at a record high of 6,083.86 after hitting an intraday high of 6,144.71. The KOSPI has rallied for the fifth consecutive day. Trading volume was heavy at 1.39 billion shares worth 33.86 trillion won (US$23.7 billion), with gainers outnumbering decliners 446 to 433. The index has maintained strong upward momentum in recent weeks, surpassing the 5,000-point mark for the first time on Jan. 27 and crossing 5,500 on Feb. 12. It moved above 5,800 on Friday and 5,900 on Tuesday. The rally tracked overnight gains on Wall Street, where the Dow Jones Industrial Average rose 0.76 percent and the tech-heavy Nasdaq Composite advanced 1.04 percent. Institutions and individuals bought a net 880.76 billion won and 224.71 billion won worth of stocks, offsetting foreign selling valued at 1.2

Feb 25, 2026By Yonhap
Seoul stocks jump nearly 2% to top 6,000 milestone on chip rally; won sharply up
Policy

Gov't devises $1.45 bil. support package for petrochemical restructuring

The government announced Wednesday a 2.1 trillion-won (US$1.45 billion) financial package to support the restructuring project of Lotte Chemical Corp. and HD Hyundai Chemical at the Daesan industrial complex, the first authorized project of a broader self-rescue plan of the ailing petrochemical sector. The two companies finalized their restructuring plan last year, under which Lotte Chemical will spin off its naphtha cracking center (NCC) at the Daesan petrochemical complex in Seosan, about 100 kilometers south of Seoul, to create a new entity with HD Hyundai Chemical. Under the plan, the first restructuring program in the petrochemical sector approved by the government, the companies aim to voluntarily reduce their NCC capacity by 1.1 million tons amid a supply glut, and work toward a transition to high-value and eco-friendly products. Fourteen other major petrochemical firms have also submitted their business restructuring plans as the government vowed last year to provide support for companies putting in "voluntary" self-rescue efforts. The 2.1 trillion-won support package for Lotte C

Feb 25, 2026By Yonhap
Gov't devises $1.45 bil. support package for petrochemical restructuring
Others

World Dagachi platform expands tailored services for foreign residents

Kwon Hae-suk, CEO of World Dagachi, operator of Dagachi, an artificial intelligence (AI) multilingual communication platform, said he hopes the platform would help provide foreign residents of Korea with easy access and practical information related to jobs, housing, visas and daily life. The mobile app- and web-based service is available in 16 languages including English, Chinese and Vietnamese. “Our goal is to improve access for foreign students and workers in Korea, delivering useful information and knowledge in an easy and understandable way,” he said. "The recent signing of a memorandum of understanding with Shinhan Bank will go a long way to advancing that goal" The two firms signed a strategic partnership to strengthen financial services for foreign residents, to better meet the growing demand for more foreign-friendly banking services. Under the agreement, the two firms will expand the bank’s foreign customer base, enhancing service quality by linking financial services with everyday living support platforms used by foreign residents, migrant workers and international stude

Feb 25, 2026By Lee Kyung-min
World Dagachi platform expands tailored services for foreign residents
Economy

Daiso to join BOK-led project to test central bank digital currency

Daiso, a popular Korean discount retailer, will join the second round of an experimental project to test the feasibility of central bank digital currency (CBDC), according to the Bank of Korea (BOK) and industry officials on Tuesday. A CBDC is a digital form of a country’s sovereign currency, issued and regulated directly by a central bank, and is considered more secure and stable than private or decentralized digital currencies. Dubbed Project Hangang, the BOK-led pilot involving Daiso will follow the first round that took place in 2025. “We expect this year’s test program will help the BOK accelerate the collection of transaction data from a range of customers,” an industry official said. He added that Daiso is popular in Korea among people of all ages, especially those in their 20s and 30s, offering a wide range of miscellaneous goods. Its affordable prices have also been attracting foreign tourists, making it a must-visit destination. Under the project, the BOK will issue CBDC to commercial banks, which will then create deposit tokens backed by the CBDC for consumers to use at

Feb 24, 2026By Yi Whan-woo
Daiso to join BOK-led project to test central bank digital currency
Economy

Investor-friendly policies, surging KOSPI drive higher dividend payouts

Investor-friendly return policies, along with a bullish stock market, are driving higher dividend payouts, which rose by more than 6 trillion won ($4.14 billion) last year among major listed companies, according to market observers and economists on Tuesday. They said dividend payouts are expected to rise further in 2026, noting that the Lee Jae Myung administration is reinforcing policies to empower investors while the benchmark KOSPI is rising faster than in 2025. “The pace of growth in shareholder returns could surpass 6 trillion won again this year,” said Jung Eui-jung, head of the Korean Stockholders’ Alliance, referring to data released by corporate tracker Leaders Index. The data showed that 694 major companies out of 2,651 listed companies paid 47.99 trillion won in dividends in 2025, marking an increase of 15.3 percent or 6.37 trillion won from 2024. Among the 694 companies, 371 increased their dividends, 106 kept their dividend amounts unchanged from the previous year and 65 began paying dividends after not doing so in 2024. The remaining 152 companies reduced their divid

Feb 24, 2026By Yi Whan-woo
Investor-friendly policies, surging KOSPI drive higher dividend payouts
Others

Older homeowners dependent on rental income worry about Lee's move to deny loan extensions

Choi Sung-ho, 67, who has lived in a small apartment in northern Seoul for nearly three decades, said the thought of being left without monthly rental income keeps him up at night. He is currently renting out a unit in a four-story building, commonly called a “multi-family villa,” nearby. The sleepless nights began when President Lee Jae Myung posted a message on social media questioning the fairness of extending loans to people who own multiple homes. Choi's anxiety deepened as news reports said financial authorities were moving quickly to hold meetings, outlining measures to deny loan extensions for those registered as rental business operators. “Am I a greedy speculator? I don’t think so. I don’t own multiple expensive homes — just one for my wife and me to live in, and one that gives us a steady monthly income so we can maintain our dignity in retirement without asking our children for money. We’re not luxury investors with high-rise buildings. That monthly rent is what pays for groceries and hospital bills.” Choi has a bank loan tied to the rental property. He took i

Feb 24, 2026By Lee Kyung-min
Older homeowners dependent on rental income worry about Lee's move to deny loan extensions
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