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  • Cryptocurrency

    Korea Investors Service prepares to rate credit in digital finance

    Korea Investors Service (KIS) is developing new criteria to assess the credit risks of digital financial products as tokenized securities and stablecoins become more integrated into the mainstream financial system. The Moody's affiliate said Monday that digital financial products can carry risks that differ from those of conventional products, even when they have the same credit rating. "While automation and instant settlement can reduce costs, reliance on the platforms, smart contracts and on-chain settlement that enable them can also create new channels through which disruptions and losses spread," Chung Hyuk-jin, head of KIS' credit standards group, said at a media briefing. Chung said credit assessments of digital financial products should incorporate technological risks alongside traditional measures such as an issuer's repayment capacity, the credit quality of underlying assets, collateral and repayment priority. KIS groups those risks into four categories: platform risk, smart-contract risk, external risk and risks related to the representation of legal rights. Stablecoins have bec

    2 MIN READBy Lee Yeon-woo
    Korea Investors Service prepares to rate credit in digital finance
  • Others

    Middle-aged Koreans largely look to national pension for post-retirement safety net

    3 MIN READBy Jun Ji-hye
    Middle-aged Koreans largely look to national pension for post-retirement safety net
  • Policy

    Gov't plans 1.19 mil. public sale, rental homes amid housing price pressures

    1 MIN READBy Yonhap
    Gov't plans 1.19 mil. public sale, rental homes amid housing price pressures
  • Economy

    KOSPI regains 7,000 as Samsung Electronics shares surge on record chip exports

    1 MIN READBy Park Han-sol
    KOSPI regains 7,000 as Samsung Electronics shares surge on record chip exports
  • Policy

    BOK launches pilot program for 24-hour offshore won settlement

    1 MIN READBy Yonhap
    BOK launches pilot program for 24-hour offshore won settlement
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Economy

Seoul stocks sharply down late Friday morning on profit-taking

Seoul stocks were trading sharply lower late Friday morning as investors sold off tech heavyweights amid concerns over escalating tensions in the Middle East. The benchmark Korea Composite Stock Price Index (KOSPI) fell 345.3 points, or 4.87 percent, to 6,751.56 as of 11:36 a.m. After opening lower, the index widened its losses as foreigners and institutional investors dumped shares in tech, finance and automakers, triggering the bourse operator to temporarily halt program trading for KOSPI-listed stocks at 11:28 a.m. U.S. stocks closed lower overnight, as U.S. President Donald Trump's threat he could decide on a "massive attack" on Iran heightened anxiety over the ongoing war between Washington and Tehran. Oil prices also moved upward, with Brent crude futures, the global oil benchmark, topping US$100 per barrel. Most market top-caps were trading lower. Chip giant Samsung Electronics dipped 6.39 percent, while industry rival SK hynix shed 6.2 percent. Top carmaker Hyundai Motor sank 8.45 percent, defense giant Hanwha Aerospace added 3.34 percent, and major financial company KB Financial fe

Jul 24, 2026By Yonhap
Seoul stocks sharply down late Friday morning on profit-taking
Economy

Korea to extend fuel tax cuts through end of September amid energy volatility

South Korea will maintain reduced fuel tax rates through the end of September, the finance ministry said Friday, amid renewed geopolitical tensions in the Middle East. Under the measure, the current tax reductions of 15 percent for gasoline and 25 percent for diesel and butane, originally set to expire at the end of this month, will remain in place through Sept. 30, according to the Ministry of Finance and Economy. "Amid lingering geopolitical instability in the Middle East, the government has decided to leave room for future fuel tax adjustments to address further volatility in oil prices," the finance ministry said. The latest decision is expected to ease the public's energy cost burden by managing the prices of diesel used in logistics and butane used for small trucks, the finance ministry said.

Jul 24, 2026By Yonhap
Korea to extend fuel tax cuts through end of September amid energy volatility
Economy

Korean won advances on better-than-expected Q2 growth

The Korean won strengthened to a more than two-month high against the U.S. dollar Thursday, as the nation's economy reported better-than-expected growth in the second quarter on firmer exports of semiconductors. The won was quoted at 1,466.8 won per dollar at 3:30 p.m., up 13.3 won from the previous day. The won started the day at 1,478 won per dollar and rose to as high as 1,457.9 won, marking the strongest level since May 8. The country's real gross domestic product rose 0.6 percent in the April-June period from three months earlier, according to the Bank of Korea, exceeding the central bank's May forecast of 0.2 percent growth. With the Japanese yen tumbling to its lowest level against the dollar in about 40 years, the won-yen arbitrated exchange rate hovers below 900 won per 100 yen. It was the first time in about 20 months that the won-yen exchange rate fell below the 900 level. The U.S. dollar serves as the benchmark currency for the exchange rate between the two. Overseas investors bought a net 2.1 trillion won ($1.4 billion) worth of local stocks on Thursday, with the benchmark Kore

Jul 23, 2026By Yonhap
Korean won advances on better-than-expected Q2 growth
Economy

EXPLAINER Why real estate remains one of Korea's most sensitive issues

A live, nationally televised housing policy forum led Thursday by the president himself, a rarity in many countries, highlighted the outsized role real estate plays in Korea’s economy and society. Experts say housing has become more than just shelter for Koreans, serving as a primary store of wealth, a means of securing retirement and a pathway to social mobility amid scarce supply in the Seoul metropolitan area. President Lee Jae Myung convened the public discussion on real estate policy, bringing together some 140 participants, including Prime Minister Han Seong-sook, Finance Minister Koo Yun-cheol, as well as representatives from the financial and construction industries, academia, civic groups, real estate brokers and social media influencers. The level of public engagement was evident even before the cameras started rolling. Since the forum’s official website opened on July 12, people have submitted more than 6,300 policy proposals. What was scheduled as a 100-minute discussion ultimately stretched beyond three hours as participants continued to debate the country’s housing ch

Jul 23, 2026By Park Han-sol
[EXPLAINER] Why real estate remains one of Korea's most sensitive issues
Economy

Lee signals tougher property holding taxes to curb housing speculation

President Lee Jae Myung on Thursday signaled stronger property holding taxes to curb housing speculation, saying speculative real estate investors owning multiple homes should bear a heavier tax burden than owner-occupiers. Lee pointed to Japan's housing bubble as a cautionary case, saying soaring real estate prices eventually led to what became known as the country's "lost 20 years" or "lost 30 years." "Some people worry that we are heading toward the same peak," he said. The remarks came during a televised public forum on housing policy ahead of the government's tax reform package expected later this month. The package is aimed at reining in runaway housing prices, as many people are unable to afford to own their own homes due to speculative purchases driving up home prices. "To bring Korea's property holding taxes in line with those of advanced economies, they would have to be raised at least threefold. But if we tripled them now, it could trigger something close to a public uprising," Lee said. "If we leave things as they are, the problem will deal a massive blow to the country. We ne

Jul 23, 2026By Lee Hyo-jin
Lee signals tougher property holding taxes to curb housing speculation
Others

KOSPI reclaims 7,000 level as Alphabet lifts AI optimism

KOSPI surged back above the 7,000 level after five trading sessions on Thursday as Alphabet’s stronger-than-expected capital spending outlook reignited optimism over the artificial intelligence (AI) boom. The Kosdaq also jumped sharply, triggering a temporary halt on program buying orders. The benchmark KOSPI opened 2.44 percent higher at 6,963.35, up 165.65 points from the previous session, and ended at 7,096.89, gaining 299.19 points, or 4.40 percent. The rally followed Alphabet, Google’s parent company, raising its 2026 capital expenditures (CAPEX) guidance, a move that eased concerns over a slowdown in AI-related investment momentum. “Alphabet lifted its 2026 CAPEX forecast to $195 billion-$205 billion from $180 billion-$190 billion,” said Kim Joong-han, an analyst at Samsung Securities. “The higher spending guidance showed that concerns over a slowdown in the AI cycle and capital expenditure were overdone.” He added that enterprise demand momentum is likely to strengthen further in the second half. Amid renewed AI optimism, shares of Samsung Electronics and SK hynix, the c

Jul 23, 2026By Jun Ji-hye
KOSPI reclaims 7,000 level as Alphabet lifts AI optimism
Cryptocurrency

Korea risks falling behind in digital asset adoption: Circle CSO

Korea’s advanced banking and payments infrastructure may be masking the urgency around digital assets, even as the technology is rapidly emerging as a matter of national interest and broader national security worldwide, a Circle executive said Thursday. While the country can afford to take a cautious approach to regulation, it should not move so slowly that it falls behind in digital asset adoption, he said. Circle is the issuer of USDC, a stablecoin pegged to the U.S. dollar. "The urgency, I believe, isn't widely understood nor shared (in Korea)," Circle Chief Strategy Officer Dante Disparte said at a media briefing in Seoul. He argued that trillions of dollars are already circulating through digital asset products, and the market could expand further as blockchain technology converges with artificial intelligence and autonomous digital agents. "That's where the urgency comes into play," Disparte said. "You could afford to be late to the regulation, but you don't necessarily want to be late to the technology (adoption)." He made the comments ahead of Current Seoul, a private industry ga

Jul 23, 2026By Lee Yeon-woo
Korea risks falling behind in digital asset adoption: Circle CSO
Cryptocurrency

Mirae Asset completes Korbit acquisition, becomes 1st financial group to control crypto exchange

Mirae Asset Financial Group is set to take near-complete control of domestic cryptocurrency exchange Korbit as its affiliate Mirae Asset Consulting acquired a 91.73 percent stake on Wednesday and plans to buy the remaining 5.42 percent on Friday, bringing its ownership to 97.15 percent, company officials said Thursday. The additional share purchase will increase Mirae Asset's holdings in Korbit from about 26.9 million shares to some 28.5 million shares, while its cumulative investment in the cryptocurrency exchange will rise from 133.5 billion won ($91 million) to 141.4 billion won. The acquisition came as Mirae Asset Consulting completed the required regulatory filing procedures on July 9. The Fair Trade Commission determined that the acquisition was unlikely to significantly restrict competition in the market, given Korbit's 0.5 percent share of Korea's cryptocurrency trading market in 2025. The deal marks the first time an affiliate of a financial group has acquired control of a domestic cryptocurrency exchange. As part of its mid- to long-term strategy, Mirae Asset Financial Group ai

Jul 23, 2026By Lee Yeon-woo
Mirae Asset completes Korbit acquisition, becomes 1st financial group to control crypto exchange
Economy

Crypto trading volume in Korea shrinks to around 1% of KOSPI

Trading volume at major Korean crypto exchanges have shrunk to account for around 1 percent of the corresponding figure for the local stock market, industry data showed Thursday. The daily average trading volume at Korea's five major virtual asset exchanges from July 1 to Tuesday stood at 597.8 billion won ($406.5 million), according to CoinGecko, a crypto market watcher. The five exchanges are Upbit, Bithumb, Coinone, Korbit and Gopax. The tally represents 1.59 percent of the daily average trading volume on the benchmark KOSPI market, which stood at 37.6 trillion won during the cited period. The share of trading volume in the crypto market relative to the KOSPI market shrunk from 11.29 percent in January to around 6 percent in March and April, and to some 2 percent in May. Such a trend is in stark contrast compared with November 2024, when crypto trading volume rose to as high as 21 trillion won on anticipation that U.S. President Donald Trump's second administration would implement crypto-friendly policies going forward. The data also showed that Korea's crypto market was heavily concent

Jul 23, 2026By Yonhap
Crypto trading volume in Korea shrinks to around 1% of KOSPI
Economy

Seoul stocks sharply up late Thursday morning on tech gains

Seoul stocks were trading sharply higher late Thursday morning, while investors digest the latest earnings release from Google's parent company. The benchmark Korea Composite Stock Price Index (KOSPI) was up 164.22 points, or 2.42 percent, to 6,961.92 as of 11:20 a.m., after rising as high as 7,083.15 points. Overnight, Alphabet released its second-quarter earnings results, which beat market expectations as its cloud business grew 82 percent on-year. The company also stated it is raising capital expenditures for the year to meet booming demand for artificial intelligence (AI). Major U.S. stock indexes closed lower, with the S&P500 inching down 0.14 percent and the tech-heavy Nasdaq retreating 0.57 percent. In Seoul, most shares were trading higher. Market top-cap Samsung Electronics added 2.3 percent, while its industry rival SK hynix advanced 2.19 percent. Top carmaker Hyundai Motor rose 1.56 percent, shipbuilder HD Hyundai Heavy Industries jumped 3.98 percent, and defense giant Hanwha Aerospace climbed 5.5 percent. The Korean won was quoted at 1,467.2 won against the U.S. dollar, up 10.3 w

Jul 23, 2026By Yonhap
Seoul stocks sharply up late Thursday morning on tech gains
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