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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

Money leaves banks at faster pace as stock market rallies

For Sung Moon-kyu, a salaried worker in Seoul, keeping money in the bank had long been the most reliable financial safety net as he was not adventurous and had never been tempted by riskier products such as stocks. But his wealth strategy recently shifted, spurred by a bullish KOSPI, prompting him to withdraw tens of millions of won he had saved over the years and invest them in the stock market. “The rally is accelerating at an even faster pace over time, convincing me that it’s a matter of how much I can gain, not whether I gain or lose,” he said. Sung represents many savings-minded investors who are increasingly moving into stocks as the benchmark KOSPI has risen in all nine trading sessions since the start of 2026. On Wednesday, the main index gained 0.65 percent to close at 4723.10 points, marking the first time it has closed above 4,700 after consecutively breaking 4,300, 4,400, 4,500 and 4,600 over the previous eight sessions. The step-by-step climb is rarely seen and comes after a 75.62 percent gain in 2025 — the highest among major economies — prompting speculation that

Jan 14, 2026By Yi Whan-woo
Money leaves banks at faster pace as stock market rallies
Policy

Procurement agency partners with KOTRA for SMEs’ overseas advancement

The Public Procurement Service (PPS) has partnered with the Korea Trade-Investment Promotion Agency (KOTRA) to boost Korean businesses’ expansion into overseas procurement markets, PPS said Wednesday. It said a joint seminar was held at The Ambassador Seoul — A Pullman Hotel, attracting more than 60 small and medium-sized enterprises (SMEs) to explore opportunities in around 190 countries. The seminar took place as part of a cross-ministry effort to lower barriers and enhance cooperation for SMEs, which have relatively fewer opportunities than larger companies. PPS operates under the Ministry of Economy and Finance and is in charge of procuring goods and services for all government agencies and state-run organizations. KOTRA is a state-run company responsible for promoting trade and investment under the Ministry of Trade, Industry and Energy. The seminar was a follow-up event to last year’s PPS-hosted Global Public Procurement Marketplace, the nation’s largest overseas procurement consultation fair. “The seminar is expected to encourage more Korean companies to enter overseas pro

Jan 14, 2026By Yi Whan-woo
Procurement agency partners with KOTRA for SMEs’ overseas advancement
Economy

Finance chief cites 'one-sided' FX market movements, stressing easing imbalances

Finance Minister Koo Yun-cheol on Wednesday underscored what he called "one-sided" movements in the foreign exchange rate amid the continued depreciation of the Korean won, stressing the need to ease supply-demand imbalances. Koo made the remarks in a prerecorded opening address delivered at a symposium on the foreign exchange market hosted by the Korean Economic Association. He is currently visiting the United States to attend a ministerial-level meeting. "Despite the country posting a record high current account surplus, volatility in the foreign exchange market has increased, with one-sided movements in the Korean won," Koo said. To address supply-demand imbalances in the market, including increased overseas securities investment, Koo said authorities are working to address the issue by focusing on improving economic fundamentals while simultaneously pursuing short-term market stabilization measures. Calling the state pension fund an important participant in the market, Koo said the government and relevant authorities are seeking an optimal solution that balances foreign exchange mark

Jan 14, 2026By Yonhap
Finance chief cites 'one-sided' FX market movements, stressing easing imbalances
Policy

Can Korea’s AI law stop deepfake crimes as Musk’s Grok comes under fire?

As Elon Musk's artificial intelligence company xAI faces backlash over deepfake images, Korea's Framework Act on the Development of Artificial Intelligence is set to take effect next week. All eyes are on whether this legislation — the world’s first comprehensive AI regulation — can effectively fulfill its role. However, skepticism is growing about the law’s effectiveness, with many predicting it will face practical hurdles in blocking xAI’s deepfake services or restricting access. Industry officials said Tuesday that xAI’s AI model, Grok, continues to offer features on Musk’s social media platform X that turn everyday photos into sexually explicit deepfake images. While Malaysia and Indonesia have restricted access to the platform and other nations have launched legal investigations — prompting xAI to limit the feature to paid subscribers — concerns remain. The act, which takes effect Jan. 22, was enacted to strengthen AI operators’ responsibilities and create a foundation aimed at fostering trust in an AI-driven society. Preventing deepfake crimes has been cited as

Jan 14, 2026By Hankookilbo
Can Korea’s AI law stop deepfake crimes as Musk’s Grok comes under fire?
Economy

Net outflow of foreign currency hits $19.6 bil. in 2025: BOK official

A net $19.6 billion of foreign currencies flowed out of Korea in the first 10 months of last year, leading to the weakness of the Korean won, a Bank of Korea (BOK) official said Wednesday. The capital outflow came despite a current account surplus of $89.6 billion and a net $31.9 billion investment in Korean securities by foreigners over the cited period, as investment in foreign capital markets by retail investors and the National Pension Service increased, according to the BOK. "Changes in the behavior of residents here are driving shifts in supply and demand (of foreign currency)," BOK official Kwon Yong-oh said during a symposium on foreign exchange market policies, noting that the residents' investment in overseas securities reached $117.1 billion in the January-October period of 2025, sharply up from $71 billion a year earlier. Kwon said the massive capital outflow served as a cause of the recent weakness of the Korean won, along with other factors, including the widening growth-rate gap between Korea and the United States, as well as differences in expected returns from the domes

Jan 14, 2026By Yonhap
Net outflow of foreign currency hits $19.6 bil. in 2025: BOK official
Economy

ICT exports rise over 12% in 2025 amid global AI boom

Korea's exports of information and communication technology (ICT) products jumped 12.4 percent from a year earlier to a record high in 2025, data showed Wednesday, driven by strong demand from the artificial intelligence (AI) industry. Outbound shipments of ICT products reached $264.2 billion last year, compared with $235 billion in 2024, according to the data compiled by the Ministry of Science and ICT. Imports rose 5.8 percent to $151.2 billion over the period, resulting in a trade surplus of $113 billion. "Despite uncertainties in the global trade environment, the expansion of AI data centers worldwide, along with strong demand for solid-state drives, led to record high exports," the ministry said in a release. By sector, semiconductor exports surged 22.1 percent on-year to $173.4 billion, supported by rising global memory chip prices. Exports of computers and communications equipment advanced 3.8 percent and 3.9 percent, respectively, the ministry said. Outbound shipments of display products and handsets, by contrast, fell 9.5 percent and 0.5 percent, respectively. By destination, expor

Jan 14, 2026By Yonhap
ICT exports rise over 12% in 2025 amid global AI boom
Economy

Seoul shares open higher on chip, bio gains

Korean stocks started a tad higher Wednesday on gains from chip and bio shares. The benchmark Korea Composite Stock Price Index (KOSPI) added 4.87 points, or 0.1 percent, to 4,697.51 in the first 15 minutes of trading. The index opened 0.16 percent lower but soon turned positive, briefly topping the 4,700-point mark for the first time. Overnight, the U.S. stock market fell lower on a drop in financial shares. The Dow Jones Industrial Average lost 0.8 percent, and the Nasdaq Composite fell 0.1 percent. In Seoul, semiconductor and bio shares led the early gains. Chip giant Samsung Electronics rose 0.22 percent, and SK hynix advanced 0.41 percent. Samsung Biologics increased 1.52 percent, and SK bioscience gained 1.04 percent. Auto shares were mixed as industry leader Hyundai Motor stayed flat, and its sister Kia jumped 5.51 percent. The local currency was trading at 1,479.05 won against the greenback at 9:15 a.m., down 5.15 won from the previous session.

Jan 14, 2026By Yonhap
Seoul shares open higher on chip, bio gains
Economy

KOSPI briefly tops another milestone of 4,700 points

Korea's benchmark stock index briefly topped another historic milestone of 4,700 Wednesday on a tech rally. The Korea Composite Stock Price Index (KOSPI) touched an all-time high of 4,706.33 points at 9:02 a.m. but turned lower to trade at 4,685.91, down 0.14 percent from the previous session's close. It took nine sessions to reach the 4,700 point mark after the KOSPI closed over the 4,300 point mark on Jan. 2. Since the beginning of the year, the index has risen more than 11 percent, extending its record bull run. Last year, the KOSPI advanced over 75 percent.

Jan 14, 2026By Yonhap
KOSPI briefly tops another milestone of 4,700 points
Economy

Korean stock market cap surges nearly 80% in one year: data

Korea's stock market capitalization has jumped nearly 80 percent in just one year, fueled by strong gains in Samsung Electronics and SK hynix amid booming demand for artificial intelligence (AI) chips, industry data showed Wednesday. The total value of local listed shares came to 3,972 trillion won ($2.69 trillion) as of early January, up 76.2 percent from 2,254 trillion won a year earlier, according to the data compiled by the Korea CXO Institute. The number of listed companies with a market capitalization of 1 trillion won or more increased from 230 to 318 over the one-year period. Samsung Electronics' market cap more than doubled to 760 trillion won from 318 trillion won, while SK hynix saw its market value surge to 492 trillion won from 124 trillion won. Samsung Electronics retained its top position by market capitalization, followed by SK hynix, LG Energy Solution, Samsung Biologics and Hyundai Motor. SK Square jumped to seventh place from 41st over the year, while Hanwha Aerospace advanced to eighth from 22nd, and Doosan Enerbility rose to ninth from 35th. The benchmark Korea Composi

Jan 14, 2026By Yonhap
Korean stock market cap surges nearly 80% in one year: data
Banking & Finance

Korean won weakens again amid growing geopolitical risks

The Korean won is once again weakening against the U.S. dollar after a temporary rebound sparked by aggressive verbal intervention from monetary authorities in late December, according to market analysts, Tuesday. The won closed at 1,473.7 per dollar, Tuesday, down 5.3 percent from the previous day and moving back toward the 1,480-level it had hovered around before the Dec. 24, 2025, intervention — a level that reflected volatility similar to past financial crises. The intervention measure led to a sharp rebound, with the won gaining 33.8 won, strengthening from 1,483.6 to 1,449.8 per dollar — its largest one-day gain in more than three years. The won-dollar exchange rate stabilized over the next two sessions — Dec. 26 and Dec. 29 — reaching 1,429.8 won per dollar. Beginning on Dec. 30, however, it resumed an upward trajectory, breaching the 1,430, 1,440, 1,450, and 1,460 levels before returning to 1,470 per dollar, Tuesday. Economists and analysts said the government’s foreign exchange measures have yet to show a clear effect and that authorities should be cautious with further

Jan 13, 2026By Yi Whan-woo
Korean won weakens again amid growing geopolitical risks
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