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  • Economy

    Lula's surprise win hits Korean investors in Brazil bonds

    Korean investors who piled into high-yield Brazilian bonds ahead of the country's presidential election are nursing losses after Luiz Inacio Lula da Silva's surprise victory sent bond yields soaring and the currency tumbling, analysts said Wednesday. Brazilian government bonds have been popular among wealthy Korean investors, offering annual yields of around 10 percent and tax-free interest income under a bilateral tax treaty between Korea and Brazil. Korean investors purchased a net $5.53 million worth of Brazilian bonds in September, nearly four times the $1.39 million recorded the previous month, according to SEIBro, a data portal operated by the Korea Securities Depository. They continued to buy Brazilian bonds this month, with net purchases totaling $1.78 million through Tuesday. Investor sentiment was buoyed by improving market conditions ahead of the presidential election amid growing expectations of a right-wing victory. However, market sentiment shifted sharply after the election outcome. Growing concerns over increased government spending and a widening fiscal deficit sent gover

    2 MIN READBy Lee Yeon-woo
    Lula's surprise win hits Korean investors in Brazil bonds
  • Economy

    Korea to closely monitor impact of upcoming US midterm elections

    2 MIN READBy Yonhap
    Korea to closely monitor impact of upcoming US midterm elections
  • Policy

    Gov't to designate new housing zones for over 76,000 homes near Seoul

    1 MIN READBy Yonhap
    Gov't to designate new housing zones for over 76,000 homes near Seoul
  • Economy

    Seoul stocks open tad higher as Fed holds rates ahead of Samsung earnings report

    1 MIN READBy Yonhap
    Seoul stocks open tad higher as Fed holds rates ahead of Samsung earnings report
  • Economy

    ABS issuance falls 5.7% in Q3

    1 MIN READBy Yonhap
    ABS issuance falls 5.7% in Q3
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CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.

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Economy

Money supply rises for 3rd month in Jan. on rising corporate deposits: BOK

Korea's money supply rose for the third consecutive month in January, driven by increases in exporters' foreign currency deposits and short-term funds awaiting investment, central bank data showed Friday. The country's M2, a key gauge of the money supply, stood at an average of 4,108.9 trillion won ($2.76 trillion) in January, up 0.7 percent from a month earlier, according to the preliminary data from the Bank of Korea (BOK). The figure rebounded in November following a decline a month earlier and extended the increase for the third consecutive month in January. M2 is a measure of the money supply that includes cash, demand deposits and other easily convertible financial instruments. "The increase was mainly driven by foreign currency deposits held by companies and households, including U.S. dollar deposits by exporters," Choi Yoo-jin, chief of the BOK's financial statistics team, said. "Demand deposits also rose as funds awaiting investment expanded amid a strong stock market." By entity, liquidity increased by 18.9 trillion won among non-financial corporations, 15.2 trillion won among f

Mar 13, 2026By Yonhap
Money supply rises for 3rd month in Jan. on rising corporate deposits: BOK
Policy

Industry minister says fuel price cap system already showing price stabilization effect

Industry Minister Kim Jung-kwan said Friday the government's fuel price cap system is already showing signs of stabilizing prices less than a day after taking effect. Kim held a meeting with officials from Korean oil refineries, gas stations and the Korea National Oil Corp. to review the domestic energy markets on the first day of the fuel price cap system's implementation. The temporary cap system took effect at midnight Thursday as part of the government's efforts to ease soaring fuel prices and reduce burdens on consumers, setting maximum prices of products oil refineries supply to gas stations and distributors. The initial price ceiling was set at 1,724 won ($1.16) per liter for regular gasoline, 1,713 won per liter for diesel and 1,320 won per liter for lamp oil. The maximum price threshold will be readjusted every two weeks to reflect changes in international oil prices until the government decides to end the system when it determines that domestic fuel prices have been stabilized. After the meeting, Kim told reporters the market is already experiencing price cuts on the first day o

Mar 13, 2026By Yonhap
Industry minister says fuel price cap system already showing price stabilization effect
Policy

Gov't to draft extra budget using excess tax revenue: budget ministry

The government said Friday it plans to swiftly draw up a supplementary budget using excess tax revenue, without issuing additional state bonds, to help ease livelihood burdens stemming from the impact of the Middle East conflict. Acting Budget Minister Lim Ki-geun made the remarks during a vice-ministerial interagency meeting, according to the Ministry of Planning and Budget, one day after President Lee Jae Myung ordered prompt preparations for an extra budget to cope with the fallout from the ongoing regional conflict. "The supplementary budget will be drawn up using expected excess tax revenue without issuing additional government bonds to minimize its impact on the government bond and foreign exchange markets," Lim said. "We will immediately begin preparations and submit a proposal to the National Assembly at the earliest possible date." The extra budget is expected to focus on easing logistics and fuel cost burdens amid surging global oil prices, supporting livelihoods for low-income households, small merchants and farmers, and helping exporters affected by external shocks. The minis

Mar 13, 2026By Yonhap
Gov't to draft extra budget using excess tax revenue: budget ministry
Others

Citi Korea reinforces support for Yanolja's global expansion

Citi Korea has strengthened its global business-to-business (B2B) payments collaboration with Yanolja, a global leisure and travel technology platform, by expanding the deployment of Citi’s Virtual Card Account (VCA) to Yanolja's enterprise solution member, the lender said Thursday. The collaboration was formalized at the Citi Asia Digital Leaders Summit held in Shenzhen, China, where senior executives from Citi and Yanolja, including Marc Luet, head of Citi's cluster and banking for Japan, Asia North and Australia (JANA) and Yanolja founder Lee Su-jin. Yanolja will integrate Citi’s global B2B payments solutions into its enterprise solution member, enabling consistent operational standards and controls across multicountry transaction platforms. As digital companies expand into multiple markets, payments infrastructure has evolved to become a core enabler of operational resilience and scalable global growth. Citi’s VCA solution enables clients to expand into new markets without large-scale system overhauls while maintaining their existing operating models. The solution allows corpora

Mar 13, 2026By Lee Kyung-min
Citi Korea reinforces support for Yanolja's global expansion
Economy

Korean won falls further against dollar amid oil price surge, supply woes

The Korean currency fell markedly for the second straight session against the U.S. dollar Friday as Middle East tensions pushed oil prices higher and fueled concerns about supply disruptions. The won was quoted at 1,493.7 won per dollar, down 12.5 won from the previous session, after posting a 14.7 won decline in the previous session. The weakness came as global oil prices spiked again overnight, hovering around $100 per barrel, after Iran's new leader, Mojtaba Khamenei, warned that the Strait of Hormuz would remain closed, raising concerns about supply disruptions and escalating tensions in the Middle East. The foreign exchange and stock markets have shown high volatility since last week as the U.S.-Israeli attacks on Iran have escalated tensions across the broader region. On Monday, the local currency fell to 1,495.5 against the greenback, the lowest level since March 12, 2009, when the country was reeling from the global financial crisis. Higher oil prices put downward pressure on the Korean won as they increase the country's demand for dollars to pay for crude imports. Korea depends h

Mar 13, 2026By Yonhap
Korean won falls further against dollar amid oil price surge, supply woes
Economy

Seoul shares down for 2nd day on prolonged Hormuz shutdown; won decline

Korean stocks closed lower Friday as investors cautiously watched situations involving the Strait of Hormuz after the new Iranian leader vowed to maintain the blockade of the sea channel. The local currency fell against the greenback. The Korea Composite Stock Price Index (KOSPI) moved down 96.01 points, or 1.72 percent, to close at 5,487.24. The KOSPI fell 0.48 percent Thursday. Trade volume was moderate at 893.6 billion shares worth 22.9 trillion won ($15.3 billion), with losers outpacing gainers 552 to 336. Foreigners sold a net 1.46 trillion won, while individuals bought a net 2.45 trillion won. Institutions offloaded a net 1 trillion won. Global crude prices continued to fluctuate, surpassing $100 per barrel again after Mojtaba Khamenei, who was named to succeed his father as Iran's new leader, vowed to continue the blockade at the crucial waterway. "While the U.S. holds clear dominance in military power, the actual upper hand appears to lie with Iran due to the Strait of Hormuz," Han Ji-young, a researcher at Kiwoom Securities, said. Lee Kyoung-min, a researcher at Daishin Securities

Mar 13, 2026By Yonhap
Seoul shares down for 2nd day on prolonged Hormuz shutdown; won decline
Policy

Korea sets oil price cap starting March 13 amid Iran crisis

The government is imposing a temporary price cap on wholesale prices for refined petroleum products starting midnight Friday, setting ceilings at 1,724 won ($1.17) per liter for regular gasoline, 1,713 won for diesel and 1,320 won for kerosene. The price ceilings are 109 won lower for gasoline, 218 won for diesel and 408 won for kerosene, compared with the average supply prices that refiners submitted on March 11, which were 1,833 won, 1,931 won and 1,728 won, respectively. The cap is based on the refiners’ average supply prices, multiplied by the recent change in international benchmark prices, using the Mean of Platts Singapore (MOPS), plus applicable taxes. It will not apply to retail prices as gas station costs and margins vary widely by region and business model, the Ministry of Trade, Industry and Resources said. In island regions that rely on sea transport, the cap is slightly higher at 1,743 won per liter for gasoline, 1,732 won for diesel and 1,339 won for kerosene. The price cap will be reset every two weeks, with each new ceiling calculated based on the previous cap and adju

Mar 12, 2026By Lee Gyu-lee
Korea sets oil price cap starting March 13 amid Iran crisis
Policy

InterviewAlign Partners commits to responsible activism for minority shareholders

Align Partners founder and CEO Lee Changhwan underscores the firm’s long-term commitment to strengthening minority shareholders’ rights as a homegrown activist hedge fund, reflecting the growing wave of shareholder activism in Korea’s stock market. This wave is gaining momentum in line with President Lee Jae Myung’s investor-friendly policies, with investors increasingly seeking to influence corporate decisions and governance, often by pressing management to adopt changes that enhance shareholder value. Yet, it has drawn mixed reactions — welcomed by those who see it as progress, but met with caution by those recalling some foreign activist hedge funds criticized for prioritizing quick, speculative gains over broader shareholder value. “Under the circumstances, I would like to stress that Align Partners naturally pursues long-term, responsible investments, unlike foreign activist hedge funds that tend to view Korea as just one market among many,” Lee said in an interview with The Korea Times at the company’s office in Seoul’s financial district of Yeouido, Wednesday. Ba

Mar 12, 2026By Yi Whan-woo
Align Partners commits to responsible activism for minority shareholders
Economy

Private education spending fell after hitting record high in 2024

Korean households spent less on private supplemental education last year, a reversal after spending hit a record-high 29.2 trillion won ($19.7 billion) in 2024, as the school-age population continues to decline, according to government data released Thursday. The data, released by the Ministry of Data and Statistics, showed total spending on private after-school classes for primary, middle and high school students reached 27.5 trillion won in 2025. Spending by academic level fell across the board — down 7.9 percent to 12.2 trillion won for primary schoolers, 3.2 percent to 7.6 trillion won for middle schoolers and 4.3 percent for high schoolers — resulting in an aggregate decline of 5.7 percent from 2024 to 2025. This decline ended a four-year streak of increases, which had heightened concerns over excessive academic competition. The record-high spending in 2024 raised particular concerns, defying expectations that private education expenses would begin to fall as the school-age population declined as part of the larger demographic crisis. “Under these circumstances, the student pop

Mar 12, 2026By Yi Whan-woo
Private education spending fell after hitting record high in 2024
Economy

Korean won falls sharply against dollar amid oil price volatility

The Korean currency fell markedly against the U.S. dollar Thursday as global oil prices climbed amid concerns about supply disruptions stemming from heightened tensions in the Middle East. The won was quoted at 1,481.2 per dollar, down 14.7 won from the previous session, marking its first fall in three days. The currency had risen over the previous two sessions, rebounding from a 17-year low, after U.S. President Donald Trump hinted that the war in the Middle East could end soon and global oil prices showed signs of stabilizing. But the won weakened again in line with rising global oil prices as Iran effectively halted cargo traffic through the Strait of Hormuz. Iran fired on commercial ships and targeted Dubai International Airport, stepping up efforts to disrupt traffic in the oil-rich Persian Gulf. The surge in oil prices came despite the International Energy Agency (IEA)'s decision to release its largest-ever oil stockpile of 400 million barrels to mitigate supply disruptions. The United States also said it plans to release 172 million barrels from its Strategic Petroleum Reserve star

Mar 12, 2026By Yonhap
Korean won falls sharply against dollar amid oil price volatility
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