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  • Economy

    Seoul stocks down 3% late Thursday morning after weaker-than-expected Samsung earnings

    South Korean stocks traded 3 percent lower late Thursday morning, reversing earlier gains as Samsung Electronics delivered weaker-than-expected third-quarter earnings. The benchmark Korea Composite Stock Price Index (KOSPI) lost 181.1 points, or 3.01 percent, to 5,831.34 as of 11:20 a.m., after rising as high as 6,100.11. The index opened slightly higher, tracking overnight gains on Wall Street after the Federal Reserve held its benchmark interest rate steady at 3.75-4 percent. The market turned lower shortly before 10 a.m., following the release of Samsung's third-quarter earnings, which fell slightly short of analysts' expectations. The world's largest memory chipmaker reported a record third-quarter operating profit of 107.44 trillion won, up 783.1 percent from a year earlier, while revenue surged 126.9 percent to 195.25 trillion won, on robust artificial intelligence (AI)-driven chip demand. Market heavyweights traded mixed. Market bellwether Samsung Electronics fell 6.61 percent, while chip giant SK hynix increased 0.4 percent. Battery maker LG Energy Solution dipped 9.76 percent after

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

    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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Policy

Korea mulls adopting oil price cap system for 1st time in 30 years: sources

The government is considering adopting a price cap system for oil for the first time in nearly 30 years, sources said Sunday, amid concerns over rising energy prices following the escalating conflict in the Middle East. Officials began reviewing the possibility after surging global crude prices were reflected almost immediately in domestic fuel prices, rather than after the typical two-week lag, following U.S.-Israeli strikes on Iran and Tehran's retaliatory attacks in the region. Korea, which depends heavily on energy imports, is particularly vulnerable to external price shocks, which often drive inflation. The review is being conducted under Article 23 of the Petroleum and Alternative Fuel Business Act, which allows the industry minister to designate a maximum sales price when oil prices fluctuate sharply and threaten economic stability. However, the provision has effectively remained dormant since the country liberalized oil prices in 1997. Sources said the government is weighing the option carefully because of potential side effects, including market distortions and fiscal burdens. Whi

Mar 8, 2026By Yonhap
Korea mulls adopting oil price cap system for 1st time in 30 years: sources
Economy

FX volatility reaches highest since COVID-19 pandemic amid Middle East tensions

The daily volatility of the Korean won against the U.S. dollar has risen to its highest level since the COVID-19 pandemic amid heightened tensions in the Middle East, data showed Sunday. The won has fluctuated sharply following the U.S.-Israeli joint attacks on Iran on Feb. 28, with the average daily fluctuation of the won against the greenback reaching 13.2 won as of Friday, according to the economic statistics system of the Bank of Korea. The level of volatility marks the highest since March 2020, when it reached 13.8 won as the COVID-19 pandemic roiled global financial markets. It is also higher than the 9.7 won recorded in April 2025, when U.S. President Donald Trump threatened to impose sweeping tariffs on foreign imports in what he dubbed "Liberation Day." The Korean won was also among the worst-performing currencies, falling 2.81 percent against the U.S. dollar this month alone, according to Yonhap Infomax, the financial data arm of Yonhap News Agency. The decline was steeper than that of the euro (1.69 percent), the Australian dollar (1.24 percent) and the Japanese yen (1.21 perce

Mar 8, 2026By Yonhap
FX volatility reaches highest since COVID-19 pandemic amid Middle East tensions
Cryptocurrency

InterviewPushing for more women in male-dominated crypto industry

HONG KONG — Vivien Khoo left Goldman Sachs in 2019 after a 19-year career at the global investment bank. She felt she was too young to retire, yet too old to spend another two decades doing the same job. So she stepped down from her managing director role and made an unexpected move. She became interim CEO and global chief operating officer of BitMEX, a cryptocurrency exchange that was grappling with a series of regulatory challenges at the time. Recalling the decision in a recent interview with The Korea Times, Khoo said she wishes she could claim she had long been passionate about blockchain technology and instinctively believed in crypto’s future. But that was not the case. Instead, Khoo believed her long career in compliance and regulation made her a strong fit for the role. If she could successfully navigate the transition, she thought she might build a long-term career in the industry. What struck her most, however, was the isolation. Unlike her years at Goldman Sachs, she found herself with few peers to turn to for advice. She was one of the few women in leadership in the crypt

Mar 8, 2026By Lee Yeon-woo
Pushing for more women in male-dominated crypto industry
Economy

Korean won drops to near 2-month low after volatile week amid Middle East crisis

The Korean won fell to a nearly two-month low against the U.S. dollar Friday as volatility persisted in financial markets amid the Middle East crisis. The won was quoted at 1,476.4 per dollar at 3:30 p.m., down 8.3 won from the previous session and its weakest level since Jan. 20, when it hit this year's low of 1,478.1 won. The won rebounded Thursday for the first time in four trading sessions after sharp losses over the previous three sessions, as the U.S.-Israeli military operation against Iran fueled a broad dollar rally. "Volatility in the exchange rate and other major financial indicators could persist depending on developments in the Middle East. We are closely monitoring market movements and preparing for responses," a Bank of Korea (BOK) official said. The benchmark Korea Composite Stock Price Index (KOSPI) edged up 0.02 percent, or 0.97 point, to 5,584.87 on Friday, a day after posting its largest-ever single-day gain of 490.36 points following panic selling earlier this week.

Mar 6, 2026By Yonhap
Korean won drops to near 2-month low after volatile week amid Middle East crisis
Others

Iran crisis leads to rare fuel price reversal between diesel, gasoline

Korea is witnessing a rare reversal in fuel pricing amid the widening U.S.-Israel war on Iran, with diesel now costing more than gasoline at many domestic gas stations despite benefiting from lower fuel taxes. Real-time data from the Korea National Oil Corp'.s Opinet website showed that as of 5 p.m. Friday, the nationwide average price of diesel was 1,887.38 won ($1.28) per liter, while gasoline averaged 1,871.83 won per liter. The website showed the price trend in 10 of 17 municipalities and regions, including Seoul, Incheon, Ulsan and Gyeonggi Province. The trend emerged in the wake of the U.S.-Israeli military strikes on Iran on Feb. 28, reflecting the limits of Korea’s tax policy in favor of diesel amid a global tightening of the fuel’s supply, according to industry officials. They noted that diesel had long been sold at a lower price than gasoline in Korea, supported by a policy that levies 240 won less in tax per liter. The policy is aimed at curbing fuel consumption by ordinary drivers who mostly use gasoline-powered vehicles, thereby helping to reduce greenhouse gas emissions.

Mar 6, 2026By Yi Whan-woo
Iran crisis leads to rare fuel price reversal between diesel, gasoline
Economy

Seoul shares end flat amid prolonged Iran crisis; won declines

South Korean stocks pared earlier losses to close nearly unchanged Friday on a growing appetite for autos and defense firms amid the ongoing Middle East crisis. The local currency fell against the U.S. dollar. Starting 1.66 percent lower, the Korea Composite Stock Price Index (KOSPI) turned positive in the afternoon to close at 5,584.87, up 0.02 percent, or 0.97 point. The index has suffered an extreme rout this week in the wake of the Middle East conflict, tumbling 7.24 percent and 12.06 percent Tuesday and Wednesday, respectively, before soaring 9.63 percent Thursday. Trade volume was heavy at 1.2 billion shares worth 31.2 trillion won ($21.2 billion), with gainers beating decliners 524 to 360. Individual investors purchased 2.9 trillion won worth of stocks, while foreigners and institutions sold a net 1.1 trillion won and 1.9 trillion won, respectively. Analysts noted that the local financial market has been largely upset by geopolitical developments in the Middle East but still has some strong points that pushed up the index. "It seems that the KOSPI experienced a readjustment followin

Mar 6, 2026By Yonhap
Seoul shares end flat amid prolonged Iran crisis; won declines
Others

Samsung shareholders concerned as union strike looms

Samsung Electronics shareholders are growing increasingly uneasy as the company’s labor union moves toward a potential general strike, market observers said Friday. Concerns are rising that production disruptions could weigh on the tech giant’s stock after the Samsung Electronics union announced Thursday that it will hold a vote among members on whether to authorize strike action. If approved, the union plans to stage a joint protest at Samsung’s semiconductor plant in Pyeongtaek, Gyeonggi Province, on April 23, followed by a general strike from May 21 to June 7. The prospect of labor unrest at the world’s largest memory chipmaker is unsettling for many, as even a temporary disruption could hurt production and dampen investor sentiment. The concerns come as the benchmark KOSPI has been rocked by sharp swings following geopolitical tensions in the Middle East, leaving retail investors particularly sensitive to negative news surrounding blue-chip stocks. Investors criticized the union’s move as poorly timed, given the market turmoil. “The domestic stock market is already plunging

Mar 6, 2026By Lee Kyung-min
Samsung shareholders concerned as union strike looms
Others

Market turbulence causes glitches in trading apps, account balance screenshots go viral

Wild swings in Korea’s stock market this week triggered technical glitches at several brokerage trading apps, briefly showing incorrect balances and causing screenshots of unexpected windfalls to go viral among retail investors. The week of volatility followed sharp market moves, driven by the U.S. and Israel-Iran war. Upon reopening after the long weekend, the benchmark KOSPI fell for two consecutive days, dropping 7.24 percent on Tuesday and 12.06 percent on Wednesday, before rebounding 9.63 percent on Thursday and 0.02 percent on Friday. According to industry officials, the mobile trading system of Korea Investment & Securities displayed incorrect balance information for some retirement pension accounts shortly after the market opened Friday. In certain cases, the number of shares and returns shown in the app differed from the actual holdings. The glitch quickly drew attention online. Screenshots circulating on an online stock community showed brokerage accounts with an evaluation amount of about 530 million won ($360,000), along with comments such as, “This isn’t my account — w

Mar 6, 2026By Lee Kyung-min
Market turbulence causes glitches in trading apps, account balance screenshots go viral
Others

High prices hold Koreans back from domestic travel: survey

Ock Ji-sook, a self-described budget traveler in her 30s, plans to visit Kyoto, Japan, instead of Gyeongju, North Gyeongsang Province, this spring to enjoy cherry blossoms alongside historic buildings. She says that the total expense of traveling to Japan is lower when accommodation, food and other costs are included, even though round-trip tickets on a low-cost carrier to Japan are about 200,000 won ($136), higher than the roughly 140,000 won for a domestic round-trip KTX bullet train. “A trip to Japan can be considered more cost-efficient, especially since it offers more exotic and foreign experiences, which are among the most attractive aspects of travel,” she said. Ock represents nearly one-third of respondents who picked high prices as the primary reason for avoiding domestic travel, according to a survey released Thursday. The survey was conducted jointly by Airbnb, an online home rental platform for travelers, and Embrain, a pollster, from Jan. 13 to 19. A total of 27.9 percent of respondents cited high travel costs when asked why they refrain from taking trips within the count

Mar 6, 2026By Yi Whan-woo
High prices hold Koreans back from domestic travel: survey
Economy

Seoul shares down 1% late Fri. morning on Middle East woes

South Korean stocks traded lower late Friday morning as investor sentiment was dragged down by escalating oil supply woes amid protracted Middle East conflicts. After opening 1.66 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) had fallen 58.37 points, or 1.05 percent, to 5,525.53 as of 11:20 a.m. Overnight on Wall Street, U.S. stocks fell as the extending Middle East conflict pushed up oil prices and stirred up worries about inflation. The Dow Jones Industrial Average fell 1.61 percent, and the Nasdaq Composite closed down 0.26 percent. In Seoul, market heavyweights led the decline. Top-cap Samsung Electronics dipped 2.97 percent, and chip giant SK hynix retreated 2.44 percent. Leading pharmaceutical firm Samsung Biologics dropped 0.79 percent, and SK Innovation, the No. 1 oil refinery, declined 1.11 percent. Hana Tour Service, a major travel agency, skidded 2.95 percent, and flag air carrier Korean Air slid 2.86 percent. The Korean won was trading at 1,473.55 won against the U.S. dollar as of 11:20 a.m., down 5.45 won from the previous session.

Mar 6, 2026By Yonhap
Seoul shares down 1% late Fri. morning on Middle East woes
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