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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

    Banks' household mortgage lending rates up for 5th month in Sept.

    1 MIN READBy Yonhap
    Banks' household mortgage lending rates up for 5th month in Sept.
  • 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 down 3% late Thursday morning after weaker-than-expected Samsung earnings

    1 MIN READBy Yonhap
    Seoul stocks down 3% late Thursday morning after weaker-than-expected Samsung earnings
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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

Seoul shares rebound more than 5% on eased Iran woes; won sharply up

Korean stocks rebounded more than 5 percent Tuesday after suffering a sharp decline the previous session, as investors hunted bargains amid eased concerns over the U.S.-Iran conflict. The local currency gained sharply against the greenback. The Korea Composite Stock Price Index (KOSPI) moved up 280.72 points, or 5.35 percent, to close at 5,532.59. Trade volume was heavy at 913 million shares worth 28.4 trillion won ($19 billion), with gainers far outpacing losers 753 to 146. Individual investors sold a net 1.8 trillion won, while foreigners bought a net 1 trillion won. Institutions purchased a net 847 billion won. The sharp gains came after investors scooped up bargains following the previous session's near 6 percent plunge after news reports said U.S. President Donald Trump remarked the war with Iran was "very complete," which led to a sharp decline in global crude prices. During the morning session, program trading on the main bourse was suspended for five minutes. A sidecar is triggered by the Korea Exchange (KRX) when the KOSPI 200 futures index moves 5 percent or more for at least on

Mar 10, 2026By Yonhap
Seoul shares rebound more than 5% on eased Iran woes; won sharply up
Economy

Seoul shares extend gains late Tuesday morning as crude price stabilizes

South Korean stocks continued to trade higher late Tuesday morning after global crude prices fell following U.S. President Donald Trump's remarks hinting the U.S.-Iran war may be nearing an end. The benchmark Korea Composite Stock Price Index (KOSPI) moved up 329.66 points, or 6.28 percent, to 5,581.53 as of 11:20 a.m. Shortly after the opening bell, program trading on the main bourse was suspended for five minutes. A sidecar is triggered by the Korea Exchange (KRX) when the KOSPI 200 futures index moves 5 percent or more for at least one minute. After dipping 5.96 percent in the previous session, investors hunted for bargains in the morning in response to news reports that Trump said the war with Iran is "very complete," which led to a sharp decline in global crude prices. In Seoul, top market cap Samsung Electronics jumped 9.91 percent, and SK hynix soared 13.16 percent. Air carriers also traded higher on falling crude prices, with Korean Air gaining 8.93 percent, and Asiana Airlines adding 4.8 percent. Oil refiners traded mixed, with SK Innovation rising 1.27 percent, while S-Oil slid 7

Mar 10, 2026By Yonhap
Seoul shares extend gains late Tuesday morning as crude price stabilizes
Economy

Customs agency launches inspection into illegal distribution of fuel products

Tax authorities launched Tuesday an intensive inspection into the illegal distribution of petroleum products amid rising global fuel prices. About 300 personnel will be mobilized to conduct intensive inspections of gas stations and businesses during the two-day operation, after which authorities will decide whether to expand the inspections, the National Tax Service (NTS) said. The move comes amid rising concerns over the illegal distribution of petroleum products as domestic fuel prices have increased following the intensification of the U.S.-led conflict with Iran in the Middle East. Authorities said the inspections will target businesses suspected of taking excessive profits by exploiting the surge in fuel prices, according to the NTS. The inspections will focus on companies suspected of improper reporting, including undocumented petroleum transactions and underreporting of sales after charging inflated prices. Authorities will also examine the manufacturing and distribution of counterfeit petroleum products and the illegal diversion of tax-exempt fuel. If tax evasion is confirmed durin

Mar 10, 2026By Yonhap
Customs agency launches inspection into illegal distribution of fuel products
Others

Korea's per capita income edges up 0.3 pct to stay in $36,000 range amid weak won

Korea's per capita income edged up 0.3 percent in 2025 to remain in the $36,000 range, as the depreciation of the Korean won against the U.S. dollar offset actual solid income growth, central bank data showed Tuesday. Nominal per capita gross national income (GNI) stood at $36,855 last year, marking a 0.3 percent increase from a year earlier, according to the preliminary data from the Bank of Korea (BOK). In terms of the won, the GNI climbed 4.6 percent from a year earlier to 52.42 million won in 2025. The figure first surpassed $30,000 in 2014 and continued to rise, nearing $38,000 in 2021. But it fell to the $35,000 range in 2022 before rebounding to $36,195 in 2023. Growth then slowed to 1.5 percent in 2024 and 0.3 percent last year, keeping the figure in the $36,000 range for the third straight year. Nominal gross domestic product (GDP) grew 4.2 percent on-year to 2,663.3 trillion won in 2025 but declined 0.1 percent in dollar terms to $1.87 trillion amid the weaker won. The value of the Korean won per dollar declined 4.3 percent last year amid imbalances in foreign exchange supply and

Mar 10, 2026By Yonhap
Korea's per capita income edges up 0.3 pct to stay in $36,000 range amid weak won
Others

Korean won rebounds sharply after hitting 17-year low amid Middle East crisis

The Korean currency rose sharply against the U.S. dollar Tuesday, rebounding from a steep drop the previous day, after U.S. President Donald Trump hinted that the war in the Middle East could end soon. The won was quoted at 1,469.3 per dollar, up 26.2 won from the previous session's 1,495.5 won, marking its first gain in three trading sessions. The currency had weakened sharply since last week, falling to its lowest level since March 12, 2009, when the country was reeling from the global financial crisis. The weakness was in line with a broad dollar rally amid risk-off sentiment following the U.S.-Israeli attacks on Iran. Foreign sell-offs in the local stock market also contributed to the weakening of the Korean won. But Trump's remarks eased concerns about a prolonged, broader regional war and potential disruptions to global oil supplies. Also helping sentiment was news that the Group of Seven major economies were preparing to implement "necessary" measures in response to surging global oil prices. "Volatility in the foreign exchange and financial markets is likely to continue depending o

Mar 10, 2026By Yonhap
Korean won rebounds sharply after hitting 17-year low amid Middle East crisis
Economy

Korean economy grows 1% in 2025; Q4 GDP contracts 0.2%

The Korean economy expanded 1 percent in 2025 amid strong exports but posted negative growth in the fourth quarter, central bank data showed Tuesday. The country's real gross domestic product (GDP) — a key measure of economic growth — contracted 0.2 percent from the previous quarter in the October-December period, compared with its earlier estimate of a 0.3 percent contraction, according to the preliminary data from the Bank of Korea (BOK). It marked the country's first quarterly contraction since the January-March period of last year, when the economy shrank 0.2 percent. On an on-year basis, GDP grew 1.6 percent in the fourth quarter, down from a 1.8 percent on-year expansion in the prior quarter. For the entire year of 2025, the economy expanded 1 percent, matching the BOK's earlier estimate and slowing from the previous year's 2 percent growth. The economy unexpectedly shrunk 0.2 percent in the first quarter of 2025 from the previous quarter as a domestic political crisis triggered by then President Yoon Suk Yeol's martial law declaration, along with uncertainties stemming from U.S

Mar 10, 2026By Yonhap
Korean economy grows 1% in 2025; Q4 GDP contracts 0.2%
Economy

Investors dump Seoul stocks as oil prices surge, won weakens

Seoul stocks fell Monday amid prolonged market volatility, as investors dumped blue‑chip shares over surging crude oil prices, which climbed past $100 a barrel amid the U.S. and Israel's escalating conflict with Iran. Unstable oil prices rattled the foreign exchange market, pushing the Korean currency to close at 1,495.5 won per dollar in onshore trading, its lowest in nearly 17 years. The benchmark KOSPI lost 5.96 percent, closing at 5,251.87 points Monday, while the secondary bourse Kosdaq fell 4.54 percent to finish at 1,102.28 points, in another up‑and‑down session after the U.S. and Israel began their military strikes on Iran on Feb. 28. After trading resumed following last week’s three-day weekend, both indexes fell on Tuesday and Wednesday — KOSPI down 7.24 percent and 12.06 percent respectively, and Kosdaq down 4.62 percent and 14 percent — before rebounding on Thursday and Friday, with KOSPI gaining 9.63 percent and 0.02 percent and Kosdaq rising 14.1 percent and 3.42 percent. The KOSPI opened on Monday down 5.72 percent at 5,265.37 points, and at one point during

Mar 9, 2026By Yi Whan-woo
Investors dump Seoul stocks as oil prices surge, won weakens
Policy

Ruling party vows to pass tax bill this month to help stabilize foreign exchange market

The ruling Democratic Party Korea (DPK) said Monday it plans to pass a revised bill on tax schemes this month to help stabilize the foreign exchange market, as the Korean currency has plunged due to an intensifying conflict in the Middle East. DPK leader Jung Chung-rae said the ruling party, which holds a majority in the National Assembly, would pass the bill, allowing investors to gain tax benefits when they sell foreign stocks, by March 19. The revision to the Act on Restriction on Special Cases Concerning Taxation is also designed to give tax benefits to retail investors when they buy financial products to hedge against foreign exchange losses. With the U.S.-Israeli attacks on Iran entering their second week, global oil prices surged, with many analysts anticipating that it could deal a severe blow to South Korea's export-dependent economy. Jung pledged strong measures to stabilize domestic gas prices and the currency market. "The practice of price collusion and manipulation to increase oil prices for profit as soon as a war breaks out is unacceptable," he said. The DPK and the governme

Mar 9, 2026By Yonhap
Ruling party vows to pass tax bill this month to help stabilize foreign exchange market
Others

Korea braces for possible stagflation as soaring oil prices fuel inflation, dampen economic growth

Korea is facing a growing stagflation threat, as a surge in global oil prices coupled with a weakening currency pushes inflation higher, putting this year’s economic growth outlook of 2 percent under threat, market watchers said Monday. Stagflation is high inflation combined with slowing growth. The risk has been intensifying as international crude prices jumped above $100 per barrel for the first time in nearly four years, driven by escalating geopolitical tensions in the Middle East. Many warn the shock could ripple widely through Asia's fourth-largest economy, which remains highly dependent on imported energy and therefore particularly vulnerable to global commodity price swings. “The risk of stagflation is rising,” said Lee In-ho, former professor of economics at Seoul National University. “Rising oil prices can also weigh on global trade and disrupt logistics, creating headwinds for Korea’s export-dependent economy. Rising import prices can also shave off the country’s current account surplus.” At the same time, Lee warned that inflation driven by higher oil prices coul

Mar 9, 2026By Lee Kyung-min
Korea braces for possible stagflation as soaring oil prices fuel inflation, dampen economic growth
Policy

FSS holds emergency meeting amid oil price hike, won's depreciation

The Financial Supervisory Service (FSS) held an emergency meeting Monday to assess possible risks in the finance sector as global oil prices surged and the Korean won weakened sharply amid escalating tensions in the Middle East, officials said. The meeting, presided over by Lee Se-hoon, the first senior deputy governor of the FSS, comes as global oil prices spiked to the US$100 per barrel level, and the Korean won fell to its lowest point since the 2008 financial crisis amid an expanding conflict in the Middle East, according to the officials. Lee is said to have asked officials to take preemptive measures in case of a prolonged conflict in the Middle East region, although fundamentals of the Korean economy remain solid. The FSS, in particular, plans to monitor capital movements related to leveraged bets in the stock market, including changes in margin loan balances, officials said. Korea's margin loan balance stood at 33.7 trillion won ($22.7 billion) as of Thursday, marking the largest tally on record, according to the data from the Korea Financial Investment Association. Authorities al

Mar 9, 2026By Yonhap
FSS holds emergency meeting amid oil price hike, won's depreciation
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