my timesThe Korea Times

Economy

PolicyCryptocurrencyOthers
  • Economy

    Fed's hawkish hold strengthens case for BOK's hike in November

    The U.S. Federal Reserve's hawkish decision to hold interest rates steady has strengthened the case for the Bank of Korea (BOK) to raise its benchmark rate as early as next month, as stronger-than-expected growth and persistent inflation reinforce the need for further monetary tightening, analysts said Thursday. The Fed kept its benchmark interest rate unchanged at 3.75 to 4 percent on Wednesday (local time), but signaled that inflation remains elevated and reaffirmed its commitment to bringing inflation back to its 2 percent target. The decision has kept markets focused on the possibility of another Fed rate hike in December, raising the prospect that the BOK could pursue further tightening before its U.S. counterpart makes its next move. The BOK held its benchmark rate at 3 percent at its rate-setting meeting last Thursday, saying it needed more time to assess domestic and external economic conditions and the effects of two previous rate hikes. Recent economic data have strengthened the case for further tightening. Korea's real gross domestic product grew 1 percent in the third quarter

    2 MIN READBy Lee Hyo-jin
    Fed's hawkish hold strengthens case for BOK's hike in November
  • 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
Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
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.

Read more

Others

Banks tap into running boom with fitness-linked products

As the number of Koreans who run for fun has reached 10 million, commercial banks are trying to take advantage of the recent boom in the activity's popularity to attract new customers by offering runners higher savings rates and other financial products, industry officials said Monday. Up to one-fifth of the country’s population now claim to run for fun, a figure that cannot be overlooked, according to officials. Major banks here have already rolled out tailor-made campaigns or plan to do so in the coming months. The country’s largest lender, KB Kookmin Bank, plans to launch the “KB Star Health Savings” account, which is linked to a health app and offers an annual interest rate of up to 6 percent based on step counts. The bank also plans to host a marathon, possibly in April or May, with a target of 5,000 participants. “After considering the marketing effect, the envisioned marathon is noteworthy, as financial companies have typically been sponsors of running events, not hosts,” an employee at a local marketing company said. Shinhan Bank was the first in the industry to launch

Feb 2, 2026By Yi Whan-woo
Banks tap into running boom with fitness-linked products
Policy

Korea bolsters AI capabilities to tackle crypto market manipulation

The Financial Supervisory Service (FSS) is upgrading an artificial intelligence (AI)-powered platform for virtual asset surveillance as part of efforts to crack down on increasingly sophisticated market manipulation, the watchdog said Monday. The platform, Virtual Assets Intelligence System for Trading Analysis (VISTA), is designed to process massive volumes of trading data, automatically flag abnormal transactions and visualize trading behavior. The financial watchdog said VISTA has already become a core investigative tool in crypto-related enforcement cases. Last December, FSS expanded its computing capacity by installing two new servers equipped with high-performance central and graphics processing units. Leveraging this infrastructure, the agency has developed an automated detection model that identifies suspected price-rigging periods without manual intervention. The system scans every possible trading interval — from seconds to months — and calculates abnormal trading metrics across all segments, allowing authorities to uncover manipulation patterns regardless of how frequently

Feb 2, 2026By Jun Ji-hye
Korea bolsters AI capabilities to tackle crypto market manipulation
Others

Older Koreans favor retirement age extension due to financial hardship

Kim Young-ho, a man in his late 50s, said he is still healthy and able to work. His manufacturing job is not easy, but he says stopping is not an option. “If I retire at 60, I cannot pay rent and hospital bills,” he said. “I am slower than before, sure. But I still know my job better than younger workers.” Kim hopes to work until he's at least 67. “Retirement feels like being pushed out while I can still stand on my own feet. Young part-time staff I hire come and go, but I stay,” he said. “I handle complaints, train new workers and keep the business running.” He worries about what will happen if the government and ruling Democratic Party of Korea (DPK) move to extend the retirement age to 65, up from the current 60. For Park Jae-min who retired a few years ago, life is not like what it used to be. “I now work short-term delivery and security guard jobs. Every contract ends quickly. The pay is lower, and there is no room for respect," he said. Park said an extended retirement age would give older workers dignity. “One stable job is better than many small jobs,” he said.

Feb 2, 2026By Lee Kyung-min
Older Koreans favor retirement age extension due to financial hardship
Economy

Not even lottery jackpots are enough to buy apartments in Seoul

Cho Soo-chul, a Seoul tenant in his 40s, has been buying lottery tickets for years with the hope of winning enough money to buy a home, a goal he finds impossible without hitting the jackpot amid soaring housing prices. But that hope is fading, Cho says. “Lottery jackpots have dropped to a level that is not even enough to buy an average apartment in Seoul after paying taxes,” he told The Korea Times. “Winning the lottery is no longer the life-changing opportunity it once was, disappointing an increasing number of buyers who I am sure are tenants like me.” Cho’s frustration is reflected in data released Monday by Dong Hang Lottery, the government-consigned lottery operator, which showed that jackpots in 2025 averaged 2.06 billion won ($1.41 million), which falls to 1.4 billion won once taxes are deducted. That after-tax amount is below the average price of an apartment in Seoul, which was 1.5 billion won in December 2025, according to separate data compiled by KB Land, the property data tracker of KB Kookmin Bank. Last year’s biggest jackpot was 2.06 billion won, the lowest in

Feb 2, 2026By Yi Whan-woo
Not even lottery jackpots are enough to buy apartments in Seoul
Economy

Lee appoints ex-IMF executive director as vice finance minister

President Lee Jae Myung has appointed a former executive director of the International Monetary Fund (IMF) as new vice finance minister, Cheong Wa Dae said Monday. Huh Chang, who had served in various capacities at the finance ministry and as an executive director of the IMF, was named second vice finance minister, presidential spokesperson Kang Yu-jung told reporters. The second vice finance minister is in charge of managing foreign exchange rates and foreign trade. Oh Tae-seog, president of Korea Institute of Science & Technology Evaluation and Planning, was tapped as the administrator of the Korea AeroSpace Administration. Oh, a career bureaucrat, previously served as first vice minister of science and ICT and oversaw the launch of the homegrown Nuri space launch vehicle.

Feb 2, 2026By Yonhap
Lee appoints ex-IMF executive director as vice finance minister
Economy

Online shopping sales hit record $16.68 bil. in December on Tesla sales surge

SEJONG —Online shopping sales in Korea rose 6.2 percent from a year earlier to a new monthly high in December, driven by strong sales of Tesla vehicles and rising demand for food services, government data showed Monday. The value of online shopping transactions stood at 24.29 trillion won ($16.68 billion) in December, up 1.42 trillion won from a year earlier, according to the data from the Ministry of Data and Statistics. The figure marked the highest level since 2017, when the ministry began compiling the data. Spending on automobiles and auto accessories surged 66.4 percent from a year earlier, supported by strong sales of Tesla models sold through online ordering systems. Sales of food services climbed 9.1 percent from a year earlier, largely due to promotional campaigns by food delivery platforms. Sales of food and beverages jumped 10.2 percent on-year, the data showed. Purchases made through smartphones, tablets and other mobile devices rose 6.2 percent from a year earlier to 18.8 trillion won, also setting a new record. Mobile-based shopping accounted for 77.4 percent of total onlin

Feb 2, 2026By Yonhap
Online shopping sales hit record $16.68 bil. in December on Tesla sales surge
Economy

Gov't earmarks $45 mil. to support R&D of mid-sized firms in 2026

The government has earmarked 65 billion won ($45 million) this year to support research and development (R&D) projects of medium-sized enterprises, especially for those centered on artificial intelligence (AI) in manufacturing, the industry ministry said Monday. The budget marks a 20 percent increase from the 54.8 billion won allocated for similar projects last year, according to the Ministry of Trade, Industry and Resources. The ministry said it will focus on supporting R&D projects related to AI transformation of the manufacturing sector, the government's key policy agenda aimed at boosting the competitiveness of local companies in the AI era. This year's budget will also be used for funding projects conducted by medium-sized companies based in areas outside of the greater Seoul area to promote balanced regional growth, the ministry added.

Feb 2, 2026By Yonhap
Gov't earmarks $45 mil. to support R&D of mid-sized firms in 2026
Economy

Seoul stocks sharply down late Monday morning on risk-averse sentiment

Korean stocks were trading markedly lower late Monday morning, as investors sold off tech heavyweights. The benchmark Korea Composite Stock Price Index (KOSPI) fell 181.36 points, or 3.47 percent, to 5,043 as of 11:20 a.m. Risk averse sentiment triggered institutional and foreign investors to offload shares of major semiconductor makers and other large cap tech companies. On Friday, U.S. stocks closed lower, as investors were cautious over the newly nominated Federal Reserve chair known for his hawkish stance on interest rates. In Seoul, shares lost ground across the board. Market top-cap Samsung Electronics dipped 2.62 percent, while its chip making rival SK hynix retreated 4.73 percent. Top car maker Hyundai Motor shed 2.3 percent, battery maker LG Energy Solution lost 2.39 percent, and defense giant Hanwha Aerospace fell 3.08 percent. The Korean won was quoted at 1,458 won against the U.S. dollar as of 11:20 a.m., down 18.5 won from the previous session.

Feb 2, 2026By Yonhap
Seoul stocks sharply down late Monday morning on risk-averse sentiment
Others

'Fear of missing out' pushes more people into stocks as markets break record highs

Kim Soo-yeon, an office worker in her 30s said she recently took out a margin loan to buy more large-cap stocks. “I started investing with savings, but once I saw how fast prices were moving, I felt like cash alone wasn’t enough,” she said. She said her colleagues talk about stocks every day at lunch. “When Hyundai Motor jumped again, I thought, if I don’t get in now, I’ll never catch up. I know borrowing is dangerous, but watching others make money fast makes me feel like I’m the only one missing out.” A margin loan refers to borrowing money from a brokerage using existing shares as collateral. A margin call occurs when a brokerage demands additional funds or securities after share prices fall. If investors fail to meet those calls, brokerages can liquidate the shares in the account, often selling them at the lowest price in the following session. Similarly, Lee Joon-suh, an office worker in his 30s, said he began investing last year after watching friends share their gains on social media accounts. “I don’t have much seed money,” he said. “So the only way for peopl

Feb 2, 2026By Lee Kyung-min
'Fear of missing out' pushes more people into stocks as markets break record highs
Others

5 securities firms slapped with $2.1 mil. fine over mis-selling of HK-tied derivatives

Five securities firms have been slapped a combined 3 billion won ($2.1 million) in penalties over their mis-selling of equity-linked securities (ELS) products tracking Hong Kong's H Index, the financial watchdog said Sunday. Under the measure, KB Securities was imposed a 1.7 trillion won fine last month over violating a recording procedure and failing to notify investment risk to customers, according to a regulatory filing by the Financial Supervisory Service. NH Investment & Securities, Mirae Asset Securities, Korea Investment & Securities and Samsung Securities were also fined over similar charges. ELS refers to hybrid securities whose returns are linked to the performance of underlying equities, including a stock index. In early 2024, HK-tied ELS buyers suffered massive losses as Hong Kong's H index plunged.

Feb 1, 2026By Yonhap
5 securities firms slapped with $2.1 mil. fine over mis-selling of HK-tied derivatives
previous page
161162163164165
next page

Most Read in Economy