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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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Economy

Fitch maintains S. Korea's rating at 'AA-' with stable outlook

Global credit appraiser Fitch Ratings said Friday it has reaffirmed South Korea's sovereign rating at "AA-" with a stable outlook. It is the fourth-highest level on the agency's sovereign ratings table, and Fitch has maintained AA- for South Korea since September 2012, when it upgraded the rating by one notch from A+. The agency cited the country's robust external finances, a dynamic export sector and stable macroeconomic performance against geopolitical risks related to North Korea.

Jan 30, 2026By Yonhap
Fitch maintains S. Korea's rating at 'AA-' with stable outlook
Others

Korea's US FX monitoring list status has limited market impact

The U.S. government’s decision to keep Korea on its foreign exchange monitoring list is unlikely to have a significant immediate impact on the exchange rate, market analysts said Friday. Still, as both the U.S. and Korean governments continue to signal that the Korean won’s recent depreciation against the U.S. dollar is "excessive," expectations are growing that upward pressure on the local currency could build. Earlier in the day, the U.S. Treasury Department kept Seoul on its list of countries monitored for their foreign exchange policies, releasing the updated list in its semiannual "Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States." Korea was taken off the list in November 2023 for the first time in more than seven years, but was reinstated beginning in November 2024, ahead of the inauguration of the Donald Trump administration. “In support of President Trump’s America First trade policy, starting with this report, Treasury is strengthening its analysis of trading partners’ currency policies and practices,” T

Jan 30, 2026By Jun Ji-hye
Korea's US FX monitoring list status has limited market impact
Cryptocurrency

InterviewBinance prepares institutional, payments push via GOPAX in Korea

HONG KONG — Binance is accelerating its expansion in Korea through local cryptocurrency exchange GOPAX, now under its control, as it prepares to support institutional adoption and build payment infrastructure in 2026. "Twenty-three percent of last year’s global growth came from institutional adoption," SB Seker, head of Asia-Pacific at Binance, told The Korea Times in a video interview Friday. "We think the same will happen if (regulatory) development takes up in Korea. The uptake will be similar, if not more." His comments came as Korean regulators gradually move to lift shadow restrictions on crypto integration in traditional finance. Authorities recently ended a nine-year ban on corporate crypto investments and are drafting the second phase of legislation — tentatively named the Digital Asset Basic Act — targeted for passage in 2026. In addition to its core services such as spot trading and digital asset products, Binance aims to establish infrastructure for institutional treasury management and cross-border stablecoin settlement. Seker expected Korean firms to start allocatin

Jan 30, 2026By Lee Yeon-woo
Binance prepares institutional, payments push via GOPAX in Korea
Policy

Financial watchdog chief's growing clout comes into focus after agency avoids public institution status

The growing influence of Financial Supervisory Service (FSS) Gov. Lee Chan-jin is once again in the spotlight following the government’s decision to postpone classifying the financial watchdog as a public institution, according to industry insiders Friday. For the FSS, public institution status has long been viewed as a worst-case scenario, raising concerns that it could erode the watchdog’s independence and autonomy in financial supervision. The agency was effectively spared from that risk after the finance ministry opted not to proceed with the designation. The FSS has also been backed by President Lee Jae Myung in its push to expand special judicial police powers, further reinforcing perceptions of the governor’s rising clout. Lee, who was appointed in August last year as the first FSS chief under the Lee Jae Myung administration, was a classmate of the president at the Judicial Research and Training Institute and previously served as a defense attorney in the president’s election law violation case and other cases. At a meeting on Thursday, the Ministry of Economy and Finance

Jan 30, 2026By Jun Ji-hye
Financial watchdog chief's growing clout comes into focus after agency avoids public institution status
Economy

BOK chief perplexed by won's sharp weakness, calls for FX hedging by pension fund

Bank of Korea (BOK) Gov. Rhee Chang-yong has said the Korean won depreciated far beyond a reasonable level, expressing concerns about its potential impact on inflation. "If I look back over the past two months since November, I was really puzzled as to why the Korean won started to depreciate much more than I thought reasonable. Compared with the dollar index, we started to decouple in October and November," Rhee said during a global macro conference organized by Goldman Sachs in Hong Kong on Wednesday. The won had hovered around the psychologically important 1,450 won level per dollar for months and slid as low as the 1,480 won level late last month, pressured by the broad strength of the dollar, geopolitical risks and heavy overseas securities investments by local investors. In response to the heightened volatility, authorities issued strong verbal warnings and implemented various policy measures, helping the currency recover to above the 1,430 won level. Rhee attributed the sharp fall of the won to what he described as a "scarcity in plenty" phenomenon, noting that market participants

Jan 30, 2026By Yonhap
BOK chief perplexed by won's sharp weakness, calls for FX hedging by pension fund
Economy

Finance chief holds annual consultations with Moody's on sovereign credit rating

Finance Minister Koo Yun-cheol held annual consultations with Moody's Investors Service earlier this week to discuss Korea's economic conditions and key policy directions, the finance ministry said Friday. The meeting, held Thursday in Seoul, brought together Koo and a Moody's credit assessment team led by Anushka Shah, the Ministry of Economy and Finance said in a press release. Koo said the country's economic growth recovered in the second half of last year, supported by swift policy responses following the launch of the new government. He further said the economy grew 1 percent last year, exceeding the government's initial forecast of 0.9 percent made earlier. The minister reaffirmed that the government's priorities this year include building a "super-innovation economy" and accelerating the economic transformation based on artificial intelligence (AI). The team held a series of meetings with the finance ministry, the unification ministry, the Bank of Korea and other relevant agencies from Tuesday through Thursday. Based on the annual consultation, Moody's is expected to announce Korea'

Jan 30, 2026By Yonhap
Finance chief holds annual consultations with Moody's on sovereign credit rating
Economy

Korea closely communicating with US over FX monitoring list status: Cheong Wa Dae

Korea is closely communicating with the United States over the Treasury Department's decision to maintain the country on its foreign exchange monitoring list, Cheong Wa Dae said Friday. Korea remains on its list of countries to monitor for foreign exchange policies, along with nine other countries and regions, according to the Treasury Department's latest report. Korea was added back to the list in November 2024 after being removed from it in November 2023. "Financial authorities are in close communication with the Treasury Department and will continue those consultations," a senior presidential official said. "The Treasury Department reaffirmed in its report that the recent weakness of the Korean won does not reflect the Korean economy's fundamentals," the official said, noting the designation appears to have been made in accordance with the department's evaluation criteria in a "somewhat mechanical manner." According to the report, Korea's inclusion on the list was attributable to its bilateral trade surplus with the U.S. and a material current account surplus. U.S. trading partners are

Jan 30, 2026By Yonhap
Korea closely communicating with US over FX monitoring list status: Cheong Wa Dae
Economy

Seoul says latest US Treasury report recognizes won's 'excessive' depreciation

Korea's finance ministry said Friday the latest U.S. Treasury Department report reflects Washington's recognition of the Korean won's "excessive" depreciation against the U.S. dollar. In the report, the United States kept Korea on its list of countries to monitor for foreign exchange policies. Korea was removed from the list in November 2023 for the first time since April 2016 but was added back in November 2024 and has remained on the list since. The report further said "the won depreciated further in late 2025, which was not in line with Korea's strong economic fundamentals." "This assessment suggests the U.S. Treasury views the one-sided and excessive weakening of the won since the second half of last year as inappropriate," the Ministry of Economy and Finance said. The Treasury's comments are in line with earlier remarks by U.S. Treasury Secretary Scott Bessent, who said the recent weakness of the won was inconsistent with Korea's strong economic fundamentals, which, he also said, was "undesirable." The ministry said it will continue to expand mutual understanding and trust regarding

Jan 30, 2026By Yonhap
Seoul says latest US Treasury report recognizes won's 'excessive' depreciation
Economy

Industrial output growth slows to 5-year low in 2025

Korea's industrial output grew at the slowest pace in five years in 2025, despite strong growth in the semiconductor industry, while retail sales and facility investment showed signs of improvement, government data showed Friday. Industrial output gained 0.5 percent from a year earlier in 2025, slowing from a 1.5 percent increase the previous year, according to the data from the Ministry of Statistics and Data. The 2025 figure marks the weakest growth since 2020, when output contracted amid the fallout from the COVID-19 pandemic. The output of the mining and manufacturing sector, considered the backbone of the economy, gained 1.6 percent in 2025, the ministry said. The ministry said chip output surged as global semiconductor demand continued to rise amid the artificial intelligence (AI) boom. Retail sales, a key indicator of private spending, also rose 0.5 percent from a year earlier, rebounding from a decline the previous year. The rise was led by higher sales of durable goods, such as passenger vehicles, which jumped 4.5 percent on-year, the data showed. Sales of semidurable goods, such a

Jan 30, 2026By Yonhap
Industrial output growth slows to 5-year low in 2025
Others

Investors aged 70 and older achieve highest stock market returns

Retail investors aged 70 and older recorded the highest returns among all age groups in the Korean stock market, benefiting from relatively larger funds to invest and gaining more as the rally accelerated, data showed Thursday. The data, compiled by Mirae Asset Securities, showed that this age group posted gains roughly twice as high as those of investors in their 20s and 30s, who are still early in their careers and building wealth. The analysis covered 2.4 million customers with a minimum principal of 1 million won ($701) from Jan. 1, 2025 to Jan. 19 this year. During this period, the benchmark KOSPI rose at the steepest pace among global indices, surpassing 5,000 points, while the secondary bourse Kosdaq also accelerated, breaking the 1,000-point mark for the first time in more than four years. Among all age groups, investors aged 70 and older achieved an average return of 58.8 percent, followed by those in their 60s at 50.1 percent. Underage investors, including teens, earned 47.7 percent, while those in their 50s recorded 47 percent, investors in their 40s 41.7 percent, and those in

Jan 30, 2026By Yi Whan-woo
Investors aged 70 and older achieve highest stock market returns
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