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  • Economy

    Weakening won emerges as hurdle to Korea's US investment package

    Korea's weakening currency is emerging as a challenge to the country's planned $350 billion investment package in the United States, analysts said Thursday, as a senior finance ministry official prepares to travel to Washington for talks on foreign exchange market stability. Moon Ji-sung, deputy minister for international affairs at the Ministry of Finance and Economy, will meet senior U.S. Treasury officials in Washington on Friday (local time), according to government sources. Moon's trip is viewed as unusual, as senior officials overseeing foreign exchange policy rarely make separate visits to Washington outside regular consultation channels between the two countries' finance authorities. While the ministry declined to comment on the details of Moon's visit, market watchers expect the discussions to focus on ensuring that exchange rate volatility does not disrupt implementation of Korea's investment commitments in the U.S. The Korean won has remained under pressure in recent weeks, with the won-dollar exchange rate hovering around 1,500-level and trading near its weakest level since 2

    3 MIN READBy Lee Hyo-jin
    Weakening won emerges as hurdle to Korea's US investment package
  • Economy

    InterviewHong Kong's role as Korea-China business bridge grows, Chinese chamber chief says

    3 MIN READBy Lee Yeon-woo
    Hong Kong's role as Korea-China business bridge grows, Chinese chamber chief says
  • Economy

    Seoul shares close higher as AI woes ease amid Middle East uncertainties

    1 MIN READBy Yonhap
    Seoul shares close higher as AI woes ease amid Middle East uncertainties
  • Policy

    Korea's tax agency seeks transformation from tax collector to integrated revenue authority

    3 MIN READBy Jun Ji-hye
    Korea's tax agency seeks transformation from tax collector to integrated revenue authority
  • Economy

    Gov't calls on exporters to address FX volatility

    1 MIN READBy Yonhap
    Gov't calls on exporters to address FX volatility
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Economy

Korea's exports hit record high in Q3 on strong chip performance

South Korea's exports reached a record high in the third quarter, driven by robust shipments of semiconductors, government data showed Monday, amid a "super cycle" in the chip industry prompted by a boom in the artificial intelligence (AI) sector. Outbound shipments for the July-September period came to $185 billion, up 6.5 percent from the same period last year, according to the Ministry of Data and Statistics. It marks the largest quarterly export figure since the ministry began compiling relevant data in 2010. The increase also marks the second consecutive quarter of year-on-year growth, following a 2.1 percent rise in the second quarter. "Although unresolved South Korea-U.S. tariff negotiations could have weighed on exports through the third quarter, strong semiconductor shipments led overall export growth," a ministry official said. In late October, Seoul and Washington finalized a long-awaited agreement on the details of Seoul's $350 billion pledge made in exchange for lower U.S. tariffs during summit talks between President Lee Jae Myung and U.S. President Donald Trump. The number

Nov 10, 2025By Yonhap
Korea's exports hit record high in Q3 on strong chip performance
Banking & Finance

Financial groups race to partner with big tech for stablecoin edge

Major holding companies in Korea are racing to form partnerships with large tech firms, notably Naver, Kakao, and Samsung Electronics, to gain an edge in the fast-emerging stablecoin market, according to industry officials, Sunday. The move, undertaken by KB, Shinhan, Hana and Woori, comes as domestic stablecoin transaction volumes have already exceeded 60 trillion won ($41.15 billion), despite the market not yet being fully legalized. In response, financial regulators are preparing to submit a bill regulating stablecoins to the National Assembly by the end of 2025. Although discussions are ongoing, banks — the flagship business units of the holding groups — are viewed as viable options to serve as primary issuers of stablecoins pegged to the Korean won, either individually or through a joint consortium with related institutions. “Under these circumstances, alliances with big tech firms are considered essential, since it would take banks considerable time to develop the necessary technology on their own,” an industry official said. “Tech giants, on the other hand, already have

Nov 10, 2025By Yi Whan-woo
Financial groups race to partner with big tech for stablecoin edge
Economy

Koreans' offshore investments undercut won strength despite record current account surplus

The Korean won slid to a seven-month low even as the export-heavy economy posted a record current account surplus, weighed down by steady capital outflows as Korean investors’ offshore equity purchases outpaced foreign inflows, analysts said Sunday. The sharp decline is explained by foreign investors’ profit-taking from the KOSPI rally. Their continued buying propped up the won until October, but a selloff of over 7 trillion won ($4.8 billion) in the first week of this month led to a pronounced weakness in the Korean currency. Many analysts say the traditional correlation between a current account surplus and currency strength no longer holds for Korea, as the U.S. dollars earned through robust exports are being redirected for offshore investments by retail equity investors, pension funds and corporate entities. The Korean currency may gain slightly in the second half of the year, influenced by the tempered strength of the U.S. currency, observers say. However, the currency is likely to remain weak overall through the end of the year, with its value not improving better than 1,400 w

Nov 9, 2025By Lee Kyung-min
Koreans' offshore investments undercut won strength despite record current account surplus
Economy

KOSPI experiences record foreign sell-off in 1st week of November amid AI bubble woes

Korea's main stock index recorded its biggest-ever weekly sell-off by foreign investors in the first week of November as profit-taking and concerns over an artificial intelligence (AI) stock bubble spurred a market retreat, the Korea Exchange said Sunday. From Monday to Friday, foreign investors dumped a net 7.26 trillion won ($4.98 billion) worth of shares on the benchmark Korea Composite Stock Price Index (KOSPI), the bourse operator said. The amount marked the largest weekly sell-off by foreign investors in KOSPI history, surpassing the previous record of 7.05 trillion won in the second week of August 2021. The KOSPI experienced sharp volatility last week, climbing to a record high above 4,200 on Monday before plunging nearly 3 percent Wednesday. After a brief rebound Thursday, the index shed 1.81 percent Friday, closing below the 4,000 mark. The benchmark had been the fastest-rising major stock index among Group of 20 nations as of Oct. 27, buoyed by strong foreign buying of semiconductors and other blue chip stocks, according to data compiled by Yonhap Infomax, the financial arm of

Nov 9, 2025By Yonhap
KOSPI experiences record foreign sell-off in 1st week of November amid AI bubble woes
Economy

KOSPI falls below 4,000 amid foreign sell-offs

The benchmark KOSPI closed below 4,000 points for the first time in two weeks on Friday, as foreign and institutional investors sold off following an overnight U.S. market decline over artificial intelligence (AI) bubble fears and major job cuts. The sell-offs also pushed the Korean currency to below 1,450 won per dollar in daytime trading on Friday, adding to concerns that the 1,400-won level could be becoming the new normal. The KOSPI closed at 3,953.76 points, down 1.81 percent from Thursday's close. This marked the first time the main index finished below the 4,000-point level since reaching an unprecedented closing high above that threshold on Oct. 27. The index had subsequently passed 4,100 points on Oct. 31 and 4,200 points on Monday. The index opened the day at 3,963.72 points, down 1.56 percent from the previous session. It narrowed its losses and briefly recovered above the 4,000-point level but fluctuated throughout the day before finishing below it. Friday’s decline followed an overnight tumble in the U.S. market, where the S&P 500 fell 1.1 percent and the tech-heavy Nasdaq d

Nov 7, 2025By Yi Whan-woo
KOSPI falls below 4,000 amid foreign sell-offs
Policy

STO market set for takeoff amid 3-way race for trading platform license

The race for licenses to operate over-the-counter trading platforms for fractional investments has narrowed to three contenders, with financial authorities working to select two winners by the end of this year, officials said Friday. As the National Assembly moves forward with legislation on security token offerings (STOs), which has garnered bipartisan support, the market is expected to officially take off next year. Fractional investment refers to dividing ownership of real-world assets such as real estate or artwork, or the rights associated with them, into multiple shares, allowing investors to co-own and share profits collectively. An STO applies blockchain technology to digitize ownership or profit rights of both tangible and financial assets in the form of securities. In essence, STOs integrate fractional investments into the formal financial system through blockchain infrastructure, for example, enabling a single property to be divided into several ownership units, each issued as a tradable token. The STO sector is considered one of the most promising markets for future growth. A

Nov 7, 2025By Jun Ji-hye
STO market set for takeoff amid 3-way race for trading platform license
Economy

Exports expected to remain solid in Q4 following US tariff deal: think tank

Korea's exports are expected to remain solid in the fourth quarter, supported by strong semiconductor demand and limited impact from U.S. tariff measures following a recent agreement, a state-run research institute said Friday. Exports, a key driver of Asia's fourth-largest economy, are projected to reach around $175 billion in the October-December period, matching the level recorded a year earlier, according to the Overseas Economic Research Institute under the Export-Import Bank of Korea (Eximbank). For the full year of 2025, exports are forecast to rise 1.7 percent year-on-year to about $695 billion, it added. The institute attributed the outlook to rising semiconductor prices since the third quarter, better-than-expected economic performance in major export markets and increased machinery orders stemming from major defense contracts. In October, exports rose 3.6 percent year-on-year to $59.57 billion, marking year-on-year growth for the fifth consecutive month, though shipments to the U.S. fell 16.2 percent to $8.71 billion due mainly to tariff effects. "The risk of export declines ap

Nov 7, 2025By Yonhap
Exports expected to remain solid in Q4 following US tariff deal: think tank
Economy

Korea wrestles with rising unemployment payouts, fraud

Many countries are facing mounting challenges in maintaining a robust labor force, particularly for workers who have faced multiple layoffs or other employment issues. Korea is no exception. Since 1995, the country has operated an unemployment benefits system that provides up to 60 percent of a worker's average wages from their final three months of employment. The system offers temporary financial support and facilitates the transition back into the workforce. For 33-year-old Choi, the benefits came at a critical time. After his employer delayed paying wages for months, he quit and began looking for other opportunities. During that period, unemployment benefits proved to be essential, providing roughly 2 million won ($1,378) per month for six months. "The benefits allowed me to take my time and prepare carefully for my next move," he said. But the cost of that safety net is swelling. Payouts are reaching record levels as Korea contends with a sluggish job market, exacerbated by a prolonged economic downturn and a rapidly aging population. Unemployment benefits disbursed in September tota

Nov 7, 2025By Lee Yeon-woo
Korea wrestles with rising unemployment payouts, fraud
Economy

Korea's exports of agricultural, food products rise 5% thru October: data

Korea's exports of agricultural and food products increased 5 percent from a year earlier in the first 10 months of 2025, driven by strong demand in the Middle East, the European Union (EU) and North America, data showed Friday. Outbound shipments of agricultural goods and food products reached $8.59 billion in the January-October period, compared with $8.18 billion a year ago, according to the data compiled by the Ministry of Agriculture, Food and Rural Affairs. Shipments to the Middle East spiked 20.4 percent year-on-year in the 10-month period, with exports to the European Union surging 14.8 percent and those to North America soaring 13.9 percent. In the July-October period, exports to the United States only inched up 0.6 percent, apparently due to escalating U.S. tariffs, but shipments to the Middle East jumped 23.5 percent, driven by robust demand for Korean ice cream, beverages and sauces, according to the data. Combined exports to China, Hong Kong and Taiwan expanded 7.7 percent year-on-year over the four-month period, with shipments of instant noodles, called "ramyeon" in Korean,

Nov 7, 2025By Yonhap
Korea's exports of agricultural, food products rise 5% thru October: data
Economy

Short-selling transactions reach 2-yr high amid this week's market crash: data

Short-selling transactions rose to the highest in over two years when the Korean stock market crashed earlier this week on artificial intelligence (AI) valuation concerns, industry data showed Thursday. On Wednesday, the country's benchmark Korea Composite Stock Price Index (KOSPI) closed more than 2 percent lower, after once dipping by more than 6 percent during intraday trading. This triggered a sell-side circuit breaker by the Korea Exchange (KRX) for five minutes. A total of 1.97 trillion won ($1.4 billion) worth of stocks were shorted on the day, according to the data from the KRX and Yonhap Infomax, the financial arm of Yonhap News Agency. The figure is the highest since July 26, 2023, when it reached 2.4 trillion won as investors shorted battery shares in the smaller KOSDAQ market, the KRX explained. By investors, foreigners accounted for 67 percent of the total amount, while institutional investors accounted for 32.1 percent. Short selling is an investment strategy of selling borrowed securities with the intent of repaying them with stocks purchased later at a lower price. Short s

Nov 6, 2025By Yonhap
Short-selling transactions reach 2-yr high amid this week's market crash: data
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