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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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Cryptocurrency

Korea in final phase of introducing stablecoin: FSC chairman

Korea is in the final stages of preparing legislation to introduce and regulate stablecoins, with the bill set to be submitted to the National Assembly before the end of 2025, Financial Services Commission (FSC) Chairman Lee Eog-weon said Monday. During the National Assembly’s annual audit, Lee spoke about stablecoins pegged to the Korean won as Asia’s fourth-largest economy lags behind other countries in legalizing such digital assets. “A bill regulating stablecoins is in its final coordination phase with the relevant ministries and is planned to be submitted to the assembly within this year,” Lee said in response to Rep. Yoo Dong-soo of the Democratic Party of Korea (DPK). “We are meticulously reviewing each detail in collaboration with the ministries concerned,” the FSC chief added, noting that the regulatory framework is still in the early stages of institutional design and that robust safeguards are crucial. FSC Vice Chairman Kwon Dae-young, who joined Lee at the session, agreed when Yoo proposed that a consortium involving both banks and tech firms should be authorized

Oct 20, 2025By Yi Whan-woo
Korea in final phase of introducing stablecoin: FSC chairman
APEC 2025

Dunamu to attend APEC CEO Summit Korea 2025 as official partner

Dunamu, operator of Korea's largest cryptocurrency exchange Upbit, will join the Asia-Pacific Economic Cooperation (APEC) CEO Summit Korea 2025 as an official partner, the company said Monday. Representing Korea's blockchain industry, Dunamu will showcase the future of finance driven by digital assets and further strengthen its global network through active engagement with world business leaders. The APEC CEO Summit Korea, hosted by the Korea Chamber of Commerce and Industry (KCCI), will be a major side event of APEC, and set to be held from Oct. 28 to 31 in Gyeongju, North Gyeongsang Province. The event is expected to serve as the largest business gathering in the Asia-Pacific region, bringing together leaders from 21 APEC member economies and over 1,700 CEOs. High-profile attendees include Nvidia CEO Jensen Huang, Amazon Web Services CEO Matt Garman and Citi CEO Jane Fraser. Korean participants include SK Group and KCCI Chairman Chey Tae-won, Samsung Electronics Executive Chairman Lee Jae-yong and Hyundai Motor Group Executive Chair Chung Euisun. Oh Kyoung-suk, CEO of Dunamu, is set to

Oct 20, 2025By Lee Yeon-woo
Dunamu to attend APEC CEO Summit Korea 2025 as official partner
Economy

Chief regulator warns of additional steps to curb household debt

The country's chief financial regulator said Monday that financial authorities are ready to take additional measures, if needed, to rein in soaring household debt. During a parliamentary audit, Lee Eog-weon, the chairman of the Financial Services Commission (FSC), said his agency is taking preemptive measures to secure financial stability. "We are ready to take more steps, if necessary (to curb household debt), while keeping a close eye on the market situation," he said. His remarks came as household loans extended by South Korean banks grew at the slowest pace in six months in September on tighter lending rules aimed at curbing surging housing prices and household debts. Banks' outstanding household loans stood at 1,170.2 trillion won ($825.07 billion) as of end-September, up 2 trillion won from a month earlier, marking a sharp deceleration from a 4.1 trillion-won gain seen the previous month, and the slowest growth since March. But there have been no signs of a letup in home prices in Seoul, prompting authorities to expand regulatory areas and further tighten lending criteria. Earlier th

Oct 20, 2025By Yonhap
Chief regulator warns of additional steps to curb household debt
Economy

Auto exports rise 16.8% in Sept. on robust demand for eco-friendly cars: data

Korea's auto exports increased 16.8 percent from a year earlier in September, driven by robust demand for eco-friendly cars in Europe and Asia, data showed Monday. The value of outbound shipments of automobiles came to $6.41 billion last month, the highest figure for any September, according to the data from the Ministry of Trade, Industry and Resources. In terms of volume, exports gained 11 percent on-year to 228,000 vehicles. The value of accumulated auto exports from January to September reached an all-time high of $54.1 billion. The ministry said demand for Korean cars went up in major regions, except for North America, where Korean cars are currently subject to 25 percent tariffs by the administration of U.S. President Donald Trump. Exports to the European Union surged 52.8 percent on-year to $958 million in September, while shipments to Asia spiked 62.3 percent to $823 million. Shipments to North America, however, shrank 5.3 percent to $2.8 billion, with exports to the U.S. dipping 7.5 percent to $2.4 billion. By type, exports of eco-friendly cars, such as electric vehicles (EVs), hyb

Oct 20, 2025By Yonhap
Auto exports rise 16.8% in Sept. on robust demand for eco-friendly cars: data
Economy

Trade minister meets economic delegation from Montana on potential cooperation

Korean Trade Minister Yeo Han-koo met with a visiting economic delegation from the northwestern U.S. state of Montana on Monday to discuss ways to bolster bilateral cooperation in energy, manufacturing and supply chains, Yeo's office said. Yeo held talks with the Montana delegation, led by Gov. Greg Gianforte, in Seoul to exchange views on ways to bolster economic cooperation between Korea and the United States, according to the Ministry of Trade, Industry and Resources. In the meeting, the two sides agreed to join hands in strengthening energy security and diversifying critical mineral supply chains by utilizing Korea's manufacturing capabilities and Montana's abundant natural resources, the ministry said. Yeo called for ways to create a stable environment for Korean companies investing in the U.S., including appropriate visa issuance, mentioning the arrests of hundreds of Korean nationals in Georgia in an immigration raid last month, it added. Yeo also noted Seoul and Washington are holding "constructive" talks to reach "mutually beneficial" results in follow-up negotiations on their b

Oct 20, 2025By Yonhap
Trade minister meets economic delegation from Montana on potential cooperation
Economy

Korea's exports hit record high in Q3 on semiconductors, automobiles: ministry

Korea's exports reached a new quarterly high of $185 billion in the July-September period, led by robust demand for semiconductors and automobiles, the industry ministry said Monday, vowing efforts to maintain the export momentum amid trade uncertainties. In the first nine months of this year, the country exported $519.7 billion worth of goods, up 2.2 percent from a year earlier, according to the Ministry of Trade, Industry and Resources. The ministry said exports have posted an on-year increase for the fourth consecutive month since June thanks to the strong performance of semiconductors, automobiles, biohealth products and ships. In particular, semiconductor exports hit $119.7 billion in the January-September period, with auto exports reaching $54.1 billion, both the highest marks for the period. Shipments of cosmetics and agro-fisheries also reached record highs for the period, at $8.5 billion and $9.3 billion, respectively, on the back of the soaring global popularity of Korean culture. On the other hand, exports of petroleum and petrochemical products went down due to a drop in globa

Oct 20, 2025By Yonhap
Korea's exports hit record high in Q3 on semiconductors, automobiles: ministry
Economy

Finance chief says Korean economy showing signs of 'vitality'

Finance Minister Koo Yun-cheol said Monday that Korea's economy is gradually recovering from a prolonged slump and showing signs of "vitality," vowing efforts to sustain the momentum. Speaking at a meeting of economy-related ministers in Seoul, Koo said consumer spending is rebounding, largely supported by policy measures such as cash handouts, called "consumption coupons," in recent months. He also noted that the number of people employed in September posted the largest increase in 19 months. "Recently, our economy has been slowly regaining vitality after a long period of stagnation," Koo said. "The government will continue to spread and reinforce the hard-won momentum for recovery." He also highlighted the local stock market's strong performance, saying the benchmark Korea Composite Stock Price Index (KOSPI) has reached record highs since the launch of the new administration. To further stimulate consumer spending, Koo said the government will host a large-scale nationwide shopping festival later this month. The minister also pledged the swift launching of 15 task forces comprising offi

Oct 20, 2025By Yonhap
Finance chief says Korean economy showing signs of 'vitality'
Economy

Semiconductor rally turns into debt-fueled leverage boom

Speculative investments fueled by Korea's semiconductor boom are on the rise as more retail investors take on debt or trade heavily in leveraged exchange-traded funds (ETFs), industry officials said Sunday. One striking example came during Friday's session, when the "SK Hynix Daily 2x Leveraged Product," which solely tracks the Korean chipmaker, surged 17.64 percent on the Hong Kong stock market. The jump was unusually large, given that SK hynix shares rose just 4 percent in the Korean market that day. Investor enthusiasm was also evident on Thursday, the ETF's debut, when it soared 17.73 percent. The underlying stock, however, rose 7.1 percent in the domestic market. A similar trend has been observed in the "Samsung Electronics Daily 2x Leveraged Product." It has surged more than 195 percent since its launch in May — about 2.6 times the gain of the underlying Samsung Electronics shares over the same period. CSOP Asset Management, the Hong Kong-based issuer of both products, said a significant portion of the inflows likely came from Korea, although it did not disclose specific figures.

Oct 19, 2025By Lee Yeon-woo
Semiconductor rally turns into debt-fueled leverage boom
Banking & Finance

Consumers open more overdraft accounts to bypass loan curbs

Banking consumers are increasingly turning to overdraft accounts and withdrawing cash — a trend widely seen as an attempt to bypass tightening lending regulations, data showed Friday. Known as a "minus account" in Korea, an overdraft account allows users to withdraw more than their available balance, up to a pre-approved limit. When the balance dips below zero, the account essentially functions as a short-term loan. This flexibility, however, comes at a cost, as interest rates are typically higher than those on standard personal loans. According to data from the Financial Supervisory Service (FSS) obtained by Rep. Lee Yang-soo of the main opposition People Power Party, 542,279 new overdraft accounts were opened as of the end of June. At this pace, the FSS projects, the number of new overdraft accounts in 2025 will reach the highest level in the past five years. The number of new accounts rose from 837,780 in 2021 to 954,994 in 2022, peaking at 1.01 million in 2023 before falling to 891,788 in 2024. As of the end of June, the outstanding balance of overdraft accounts at 19 banks, including

Oct 18, 2025By Yi Whan-woo
Consumers open more overdraft accounts to bypass loan curbs
Cryptocurrency

World's largest crypto exchange Binance approved to enter Korean market

The world’s largest cryptocurrency exchange, Binance, has officially entered the Korean market after completing its acquisition of local crypto exchange GOPAX, more than two years after the initial deal, according to financial authorities and industry officials Friday. With final approval from financial authorities, attention is now focused on whether this move will disrupt the domestic market dominated by Upbit and Bithumb. Competition in user services is also expected to intensify. The Financial Intelligence Unit (FIU) under the Financial Services Commission, Korea’s top financial regulator, approved GOPAX’s executive change filing late Wednesday night, enabling Binance to take effective control of the exchange. Binance became GOPAX’s largest shareholder in February 2023 by acquiring a 67 percent stake. The company then submitted the executive change notification to the FIU in March 2023, but domestic regulators had not processed the filing for two and a half years. Authorities had been cautious in reviewing the notification, citing concerns that Binance’s acquisition of GOPA

Oct 17, 2025By Jun Ji-hye
World's largest crypto exchange Binance approved to enter Korean market
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