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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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Banking & Finance

IMF raises Korea's 2026 growth outlook to 1.9%

The International Monetary Fund (IMF) raised its 2026 economic growth outlook for Korea to 1.9 percent, Monday, up from its previous forecast of 1.8 percent last October. The revised projection for Asia’s fourth-largest economy is higher than the 1.8 percent growth forecast for advanced economies. It also reflects brighter prospects for the country, in line with projections from institutions both locally and abroad, compared with 2025 when growth was estimated at just 1 percent. For 2026, the Ministry of Economy and Finance projects 2 percent growth, the Bank of Korea forecasts 1.8 percent and the OECD expects 2.1 percent. The IMF did not elaborate on the details behind its upward revision for Korea’s outlook. Meanwhile, it noted that downside risks to the global economy stemming from changes in trade policies are balanced by upside factors, including a surge in artificial intelligence (AI) investment, fiscal and monetary support and accommodative financial conditions. It accordingly revised up its world economic growth forecast for 2026 forecast by 0.2 percentage points to 3.3 percent

Jan 19, 2026By Yi Whan-woo
IMF raises Korea's 2026 growth outlook to 1.9%
Policy

Gov't to ease regulations on cloud-based software at financial firms

Financial authorities are moving to ease network separation rules that have long constrained the use of cloud-based software by financial services providers, in a major step toward modernizing a tightly regulated financial IT environment, market watchers said Monday. The reform is expected to significantly lower compliance barriers for financial firms, accelerating digital transformation and elevating Korea’s regulatory framework closer to global standards. The Financial Services Commission (FSC) and Financial Supervisory Service (FSS) said they will run a notice period before the revisions to the law governing electronic financial supervision. The revisions will allow financial entities to use cloud-based software-as-a-service (SaaS) applications on internal business networks without going through the “innovative financial services designation” process, as long as they meet strict security requirements. Central to the move is a partial easing of Korea’s network separation rules stipulating that financial entities’ internal systems should be isolated from external networks. The

Jan 19, 2026By Lee Kyung-min
Gov't to ease regulations on cloud-based software at financial firms
Economy

PHOTO KOSPI tops 4,900 for milestone closing high

An electronic trading board at Hana Bank headquarters in central Seoul shows the benchmark KOSPI closing at 4,904.66 points, Monday, up 63.92 points or 1.32 percent from the previous session. The main index closed above 4,900 points for the first time in history, extending a winning streak of 12 trading sessions since the start of 2026. Yonhap

Jan 19, 2026By Yi Whan-woo
[PHOTO] KOSPI tops 4,900 for milestone closing high
Economy

Weak won helped Korea's growth in 2025: HSBC

HONG KONG — Last year's currency depreciation has strengthened export competitiveness and contributed to growth, HSBC said Monday. "We do not believe that the weak won itself was a challenge for Korea’s economic performance — rather, it likely supported it over the past year," said Frederic Neumann, HSBC's Chief Asia Economist, during a virtual press conference for the HSBC Asian Outlook 2026 on Monday. Neumann explained that the won's weakness helped Korean exporters remain competitive, especially as global commodity prices — particularly oil — have stabilized, reducing inflationary pressure. Despite unfavorable conditions such as tariff frictions with the United States, Korea’s exports surpassed $700 billion for the first time in 2025. However, Neumann warned that concerns over a weak currency could prevent the Bank of Korea (BOK) from cutting interest rates, limiting the monetary easing needed to sustain growth. BOK has kept its key policy rate unchanged for five consecutive meetings, citing concerns over the weakening won. Some market watchers believe the easing cycle ha

Jan 19, 2026By Lee Yeon-woo
Weak won helped Korea's growth in 2025: HSBC
Economy

US beef, pork rank 1st in Korea's imported meat market in 2025: data

American beef and pork products accounted for the largest share in Korea's imported meat market last year, the U.S. Meat Export Federation (USMEF) said Monday. In 2025, Korea imported a total of 468,122 tons of beef products, with U.S. beef taking up 220,427 tons, or 47.1 percent of yearly imports, the federation said, citing data from the Korea Customs Service. It marked the ninth consecutive year American beef topped Korea's imported beef market, despite a slight decrease from the market share of 48.1 percent in 2024. Korea also remained the biggest importer of U.S. beef products for the fifth consecutive year in 2025, according to the USMEF. Korea's pork imports stood at 551,495 tons last year, with American products accounting for 187,837 tons, or the biggest share of 34.1 percent. The market share of American pork surpassed 30 percent for the third straight year in 2025. The USMEF said it will continue to promote American meat products in Korea, noting that Korea began implementing a zero percent tariff rate on U.S. beef imports this year. The full tariff exemption came as a result of

Jan 19, 2026By Yonhap
US beef, pork rank 1st in Korea's imported meat market in 2025: data
Policy

Shinhan Asset Management, Pareto Securities fined for illegal short selling

The Securities and Futures Commission under the Financial Services Commission (FSC) has imposed a combined 3.97 billion won ($2.69 million) in fines on six domestic and foreign asset managers and securities firms for engaging in naked short selling, market watchers said Monday. Naked short selling refers to the practice of short-selling shares without first borrowing them from another party. The large scale of fines, the first since the full resumption of short selling last March, is indicative of a tougher regulatory stance in the coming months, reflecting a policy shift toward “zero tolerance” enforcement. Previous similar violations have been sanctioned, but penalties were negligible in size and impact. The authorities’ stringent measures are meant to illustrate that Korea’s short selling market is not only open but strictly managed, an approach intended to bolster investor confidence while strengthening the market’s credibility on the global stage. According to government sources, Shinhan Asset Management was fined 370.6 million won after authorities found it had placed sel

Jan 19, 2026By Lee Kyung-min
Shinhan Asset Management, Pareto Securities fined for illegal short selling
Economy

AI leaders Naver, Kakao struggle despite KOSPI's record-breaking rally

Naver and Kakao, once hailed as the country’s flagship IT blue chips and leading artificial intelligence (AI) players, have largely failed to join the recent KOSPI rally, even as the benchmark index has continued to climb and fuel optimism it could hit 5,000 points. According to the Korea Exchange Monday, Kakao’s shares fell 4.7 percent from the start of 2026 through last Friday, while Naver posted a gain of just over 1 percent, sharply underperforming compared to the broader market. KOSPI closed above the 4,800 level on Friday to set fresh record highs. Data from NH Investment and Securities showed that nearly 90 percent of Kakao investors are currently in the red, with an average return of minus 29.57 percent. Naver is little better off, with 75.3 percent of its investors sitting on losses and an average return of minus 9.38 percent. Kakao’s stock hit an all-time high of 173,000 won ($117) on June 24, 2021, during the market surge at the height of the COVID-19 pandemic, but has trended downward ever since. Naver, meanwhile, surged to around 300,000 won last June following the lau

Jan 19, 2026By Jun Ji-hye
AI leaders Naver, Kakao struggle despite KOSPI's record-breaking rally
Economy

Finance chief calls for 'results-driven' approach to economic management

Finance Minister Koo Yun-cheol on Monday emphasized a "results-driven" approach to economic management, saying the government must work to achieve concrete results in each policy goal for this year. Koo made the remarks while presiding over an expanded executive meeting that brought together senior officials from the Ministry of Economy and Finance. "Koo specifically stressed a 'results-driven approach to economic management' during the meeting," the ministry said, noting that this year's priorities are to achieve the so-called super-innovation economy and advance the transformation based on artificial intelligence (AI). He instructed officials not to pursue all areas uniformly but to set clear, specific goals and concentrate policy resources on achieving each target. Noting recent developments in inflation and foreign exchange rates, Koo stressed that stabilizing the cost of living is a top priority and called on all relevant ministries to coordinate closely and manage the situation rigorously.

Jan 19, 2026By Yonhap
Finance chief calls for 'results-driven' approach to economic management
Economy

Young Koreans face double strain from longer job searches, rising housing costs

Longer job searches and rising housing costs are intensifying economic pressure on young Koreans amid the country's structural challenges and sluggish growth, a central bank report said Monday. According to a report on youth economic conditions released by the Bank of Korea (BOK), many young job seekers are experiencing prolonged job searches early in their careers as companies increasingly favor experienced workers and expand rolling recruitment, rather than the traditional large, scheduled recruiting, amid sluggish economic growth. Those who remain unemployed for one year have a 66.1 percent chance of securing a regular job five years later, but the probability drops to 56.2 percent if unemployment lasts three years. Each additional year without a job was estimated to reduce current real wages by 6.7 percent due to a lasting "scarring effect," the report said. The situation mirrors Japan's so-called employment ice age generation or lost generation, which entered the labor market during the country's prolonged economic stagnation in the 1990s and early 2000s, the BOK noted. Rising housin

Jan 19, 2026By Yonhap
Young Koreans face double strain from longer job searches, rising housing costs
Policy

Banks likely to loosen lending criteria in Q1: BOK survey

Banks in Korea are expected to slightly ease lending standards in the first quarter amid authorities' continued efforts to rein in household lending, a central bank survey showed Monday. According to a Bank of Korea (BOK) survey of 18 commercial lenders, the index measuring banks' lending attitudes stood at 8 for the January-March period, up sharply from minus 21 in the fourth quarter of 2025. A reading below zero indicates that more lenders plan to tighten, rather than ease, credit standards. The first-quarter figure marked the first time the index has registered a reading above zero since the first quarter of 2025. By sector, the index for home mortgage lending came in at 6 for the first quarter, compared with minus 44 in the previous quarter. The indexes for loans to large companies and small- and mid-sized enterprises (SMEs) stood at 6 and 11, respectively. "Demand for housing-related loans is expected to rise slightly, driven by home purchases and demand for lease financing," a BOK official said. "For corporate loans, banks are likely to maintain an accommodative lending stance, though

Jan 19, 2026By Yonhap
Banks likely to loosen lending criteria in Q1: BOK survey
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