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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

Gov't to prevent excessive rise in fuel prices ahead of adjustment of tax cut

The government pledged Tuesday to prevent an excessive rise in domestic fuel prices ahead of a planned adjustment to fuel tax reductions set to take effect next month, the industry ministry said. Under the latest extension decision, the current tax reductions — 10 percent on gasoline and 15 percent on diesel and liquefied petroleum gas (LPG) — will be adjusted to 7 percent for gasoline and 10 percent for diesel and LPG. The revised rates will take effect starting Nov. 1 and will remain in place for an additional two months until Dec. 31. The adjustment is expected to raise prices by about 25 won ($0.02) per liter for gasoline, 29 won for diesel and 10 won for LPG. The announcement was made during a meeting presided over by the Ministry of Trade, Industry and Resource and attended by representatives from oil refiners, gas stations and related agencies. During the meeting, the ministry asked for voluntary cooperation from refiners and gas station operators to prevent excessive price hikes following the partial rollback of the fuel tax cut. "Although international crude prices are curren

Oct 28, 2025By Yonhap
Gov't to prevent excessive rise in fuel prices ahead of adjustment of tax cut
Economy

Korea's GDP expands 1.2% in Q3; fastest growth in 6 quarters

The Korean economy expanded at the fastest pace in 1 1/2 years in the third quarter, supported by solid exports and rising private consumption, central bank data showed Tuesday. Real gross domestic product (GDP), a key gauge of economic growth, rose 1.2 percent in the July-September period from the previous quarter, preliminary data from the Bank of Korea (BOK) showed. It marked the fastest quarterly expansion since the first quarter of 2024, when the economy grew 1.2 percent, and was up from a 0.7 percent on-quarter increase in the second quarter. The third-quarter figure also beat the BOK's expectation of a 1.1 percent gain. On an on-year basis, the economy expanded 1.7 percent in the third quarter, accelerating from a 0.6 percent increase in the previous quarter. The country's GDP unexpectedly contracted 0.2 percent in the first quarter, as a domestic political crisis sparked by former President Yoon Suk Yeol's martial law declaration, coupled with uncertainties from U.S. President Donald Trump's sweeping tariff measures, weighed on consumer spending and slowed export growth. But the ec

Oct 28, 2025By Yonhap
Korea's GDP expands 1.2% in Q3; fastest growth in 6 quarters
Economy

Consumer sentiment dips for 2nd month amid tariff woes: BOK

Korea's consumer sentiment fell for the second consecutive month in October amid concerns over prolonged negotiations with the United States on its new tariff scheme and renewed tensions in Sino-U.S. trade relations, the central bank said Tuesday. The composite consumer sentiment index (CCSI) came to 109.8 this month, down 0.3 point from September, according to a survey by the Bank of Korea (BOK). A reading above 100 indicates that optimists outnumber pessimists, while a figure below 100 means the opposite. "The decline was mainly attributable to trade-related uncertainties, including the prolonged tariff talks with the U.S. and renewed tensions in U.S.-China trade relations," a BOK official said. The index had risen for five straight months through August amid solid exports and optimism over the government's supplementary budget. But it dropped 1.3 points in September as concerns mounted over a slowdown in exports caused by new U.S. tariff measures and a slump in the construction sector. In July, South Korea and the U.S. reached a framework agreement under which Washington would impose a

Oct 28, 2025By Yonhap
Consumer sentiment dips for 2nd month amid tariff woes: BOK
APEC 2025

KOSPI tops 4,000 points for 1st time in history

The benchmark KOSPI topped the 4,000-point mark for the first time on Monday, reaching an unprecedented high since the market’s baseline was established at 100 points in 1980. The KOSPI had previously closed above the 3,000-point mark on June 20, reaching the milestone for the first time in more than three years. The achievement comes just days before a series of 2025 Asia-Pacific Economic Cooperation (APEC) meetings in Gyeongju, North Gyeongsang Province, which market observers say could help ease uncertainties surrounding trade-related risks. The KOSPI closed at 4,042.83 points on Monday, up 2.57 percent from Friday’s close. It started the day at 3,999.79 points, quickly climbing above 4,000 and remaining there for the rest of the session. Foreign and institutional investors were net buyers of 647.2 billion won ($451.32 million) and 234.2 billion won in stocks, respectively, offsetting the net selling of 796.6 billion won by retail investors. The KOSPI has been rising for more than a week, and market observers say that the scheduled summit between U.S. President Donald Trump and Chi

Oct 27, 2025By Yi Whan-woo
KOSPI tops 4,000 points for 1st time in history
Banking & Finance

Eximbank, IDB Invest sign $300 mil. MOU on Latin America coperation

The Export-Import Bank of Korea (Eximbank) and IDB Invest, the private-sector investment arm of the Inter-American Development Bank Group (IDB Group), have signed a $300 million deal to strengthen cooperation and joint financing in Latin America, Eximbank said Monday. The IDB Group provides financial support to more than 20 borrowing member countries across Latin America and the Caribbean. Eximbank said its acting Chairman Ahn Jong-hyuk and IDB Group President Ilan Goldfajn signed a memorandum of understanding (MOU) for the partnership at the bank’s headquarters in the financial district of Yeouido, Seoul, Friday. The MOU was signed as Eximbank, a state-run lender, seeks to expand its role as a development finance institution (DFI) on the 20th anniversary of Korea’s membership in the IDB. Eximbank also aims to reinforce its support for private-sector investment and sustainable development projects in Latin America. A DFI is a public financial institution that provides funding to foster private-sector growth in developing countries. Leading examples include the U.S. Development Finance

Oct 27, 2025
Eximbank, IDB Invest sign $300 mil. MOU on Latin America coperation
Economy

KOSPI's 2025 growth fastest among G20 indices on foreign buying: data

Korea's benchmark stock index rose at the fastest pace among the Group of 20 (G20) nations' key equity indices this year, driven by strong foreign buying of semiconductors and other domestic blue chip stocks, data showed Monday. The benchmark Korea Composite Stock Price Index (KOSPI) rose 64.27 percent, or 1,542.1 points, from Dec. 30 to Friday, according to the data from Yonhap Infomax, the financial arm of Yonhap News Agency. The KOSPI was the only G20 stock index to rise by more than 60 percent over the cited period, according to data. The second-highest performing stock gauge was the Nikkei 225 index of Japan, which rose 25.98 percent in the same 10-month period. Such a rapid rise of the KOSPI was driven by strong buying from foreign investors as they snatched up market heavyweights, including semiconductor shares, analysts here said. Foreigner investors net purchased a total of 5.2 trillion won ($3.6 billion) worth of stocks in the local market from the start of this month until Friday, according to the data from the Korea Exchange (KRX), the country's leading stock bourse operator.

Oct 27, 2025By Yonhap
KOSPI's 2025 growth fastest among G20 indices on foreign buying: data
Economy

Overseas stock ownership among Korean investors up 60% in Q3

Holdings of foreign securities among Korean investors in the third quarter rose nearly 60 percent from a year earlier, with U.S. stocks dominating investors' foreign portfolio, data showed Monday. Local investors held overseas stocks and bonds worth $220.3 billion as of end-September, up 59.7 percent from the same period a year earlier, according to the data from the Korea Securities Depository (KSD). The value of U.S. stocks and bonds held by Korean investors totaled $177.6 billion, accounting for 80.7 percent of their total overseas securities holdings. Investments in U.S. stocks alone totaled $155.5 billion, or about 94 percent of their total overseas equity holdings. U.S. electric vehicle titan Tesla Motors was Korean investors' top pick, with their holdings reaching $27.5 billion. Tesla was the top pick of local investors for the past three consecutive quarters. Artificial intelligence (AI) chip giant Nvidia Corp. took the No. 2 spot with $16.3 billion, trailed by Palantir Technologies with $6.5 billion, Apple Inc. with $4.7 billion and quantum computing company IonQ Inc. with $3.7

Oct 27, 2025By Yonhap
Overseas stock ownership among Korean investors up 60% in Q3
Economy

Contribution'Credit cockroaches' swarm; investment risks surface

"Credit cockroaches" in segments of the U.S. economy are crawling into the spotlight. The old adage — "See one cockroach, more are lurking" — rings true as sporadic bankruptcies and credit events pile up, revealing cracks in the economy. Prolonged high interest rates and slowing growth are exposing vulnerabilities, particularly in the high-yield bond market, where risks are surfacing. While not yet systemic, these warning signs demand sharper scrutiny. Where are credit cockroaches? Tricolor, a U.S. subprime auto lender targeting undocumented immigrants, collapsed into Chapter 7 liquidation on Sept. 10, sparking a fraud scandal. The Department of Justice's (DOJ) probe into double-pledged collateral on securitized loans triggered massive write-offs by not only regional banks but also major banks. Days later, auto parts giant First Brands filed for Chapter 11, saddled with up to $50 billion in liabilities against less than $10 billion in assets. Creditors uncovered fraudulent off-balance-sheet factoring schemes, with $2.3 billion allegedly vanished, now under DOJ scrutiny. A $1.1 billio

Oct 27, 2025By Raymond Cheng
'Credit cockroaches' swarm; investment risks surface
Economy

Korea's biggest defense show concludes after 8-day run

Korea's largest aerospace and defense trade show ended after an eight-day run earlier this week, with high-ranking foreign military officials showing keen interest in South Korean-made weapons systems, its organizers said Sunday. The Seoul International Aerospace & Defense Exhibition (ADEX) ran from Oct. 17-24 at Seoul Air Base and KINTEX, both just outside of Seoul, with a record 600 defense firms from 35 countries participating in the biennial exhibition, according to the organizers. Consultations over potential business deals, valued at $44.9 billion, took place during the exhibition, up 52.7 percent from the previous show in 2023. "Consultations increased on the back of growing trust in the South Korean defense industry amid global security uncertainties," an ADEX official said. Organizers said foreign military officials especially expressed interest in South Korea's homegrown KF-21 fighter jet, as well as K2 tanks and K9 self-propelled howitzers. The number of overall visitors also increased 19.5 percent from two years ago to 263,283 this year, organizers said. Korea has seen a sharp

Oct 26, 2025By Yonhap
Korea's biggest defense show concludes after 8-day run
APEC 2025

Korean economy at crossroads as tariff talks remain stalled ahead of Trump’s visit

The Korean economy is bracing for financial market volatility amid stalled tariff negotiations between Korea and the U.S. over a $350 billion investment fund. While the two sides sought to finish up the negotiations before U.S. President Donald Trump’s visit to Korea later this week during Asia-Pacific Economic Cooperation (APEC) events, the likelihood of a deal being reached during his summit with President Lee Jae Myung appears slim. The U.S. demand for a $350 billion investment from Korea was part of a July agreement that saw the two countries set the U.S. blanket tariff on Korean goods at 15 percent, down from 25 percent. The U.S. insists the full amount be paid up front, while the Korean government argues that doing so would trigger a massive dollar outflow, and that a significant portion should instead come in the form of loans and guarantees. This uncertainty has since led the Korean currency to depreciate against the U.S. dollar, hitting a six-month low of 1,440 won per dollar last week. After returning from meetings with U.S. officials on Friday, presidential chief of staff fo

Oct 26, 2025By Lee Kyung-min
Korean economy at crossroads as tariff talks remain stalled ahead of Trump’s visit
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