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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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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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Cryptocurrency

ExclusiveCircle invites senior executives from Korean banks, crypto exchanges for closed-door event on July 23

Circle is stepping up its push into Korea with an invitation-only gathering in Seoul, industry officials said Monday, as the issuer of the USDC stablecoin seeks closer ties with banks, crypto exchanges and payments companies. The event, called Current Seoul, will be held July 23 at Josun Palace. It follows CEO Jeremy Allaire's visit to Korea about three months ago, when he met with local financial companies to explore potential partnerships. Held under the theme "Korea at a Crypto Inflection," the gathering is expected to draw senior executives from crypto exchanges, banks, payments companies and super-app operators. Discussions will focus on regulation, industry cooperation and the development of longer-term partnerships, according to the event's registration website. Circle speakers include Dante Disparte, chief strategy officer and head of global policy and operations; David Allan Katz, vice president of strategy and policy for Asia-Pacific; Ben Morris, vice president of business development; and Yam Ki Chan, head of Asia-Pacific. Kakao Pay CEO Shin Won-keun and Park Jong-baek, a par

Jul 13, 2026By Lee Yeon-woo
Circle invites senior executives from Korean banks, crypto exchanges for closed-door event on July 23
Economy

Bourse operator issues circuit breaker for KOSPI on sharp fall

Korea's bourse operator on Monday activated a circuit breaker for the benchmark Korea Composite Stock Price Index (KOSPI) after stocks tumbled amid renewed tensions in the Middle East. Trading of KOSPI-listed shares was halted for 20 minutes. The Korea Exchange (KRX) triggered the marketwide circuit breaker at around 1:28 p.m. after the KOSPI plunged more than 8 percent from the previous session's close. The benchmark index came under heavy selling pressure as investors remained cautious after the United States and Iran exchanged fresh strikes over the status of the Strait of Hormuz. It marked the seventh time this year that the KRX has activated a circuit breaker.

Jul 13, 2026By Yonhap
Bourse operator issues circuit breaker for KOSPI on sharp fall
Economy

Seoul shares sharply down late Monday morning amid Middle East tensions

Seoul shares extended losses late Monday morning, led by falls in chipmakers, bucking gains on Wall Street, as renewed tensions in the Middle East weighed on investor sentiment. After opening 0.85 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) extended losses, falling 392.53 points, or 5.25 percent, to 7,083.41 as of 11:20 a.m. The decline came as the United States and Iran exchanged fresh strikes over the status of the Strait of Hormuz. On Sunday (U.S. time), the U.S. military launched strikes against Iran following Iran's drone attacks on U.S. allies in the Middle East. On Friday, U.S. stocks advanced, buoyed by Korean chipmaker SK hynix's multibillion-dollar U.S. share offering. The Dow Jones Industrial Average gained 0.29 percent, while the tech-heavy Nasdaq composite also climbed 0.29 percent. SK hynix's American depositary receipts (ADRs) on the Nasdaq closed at US$168 each, well above the offering price of $149. Institutions and foreigners sold a net 501.77 billion won ($333 million) and 906.28 billion won worth of stocks, respectively. Individuals bought a n

Jul 13, 2026By Yonhap
Seoul shares sharply down late Monday morning amid Middle East tensions
Economy

KRX issues sell-side sidecar for KOSPI on sharp fall

Korea's bourse operator on Monday activated a sell-side sidecar for the benchmark Korea Composite Stock Price Index (KOSPI) after the index tumbled sharply. Program trading for the KOSPI was suspended for five minutes at 10:34 a.m., according to the Korea Exchange (KRX). The KOSPI came under heavy selling pressure as investors offloaded market heavyweights amid renewed tensions in the Middle East, which weighed on investor sentiment. On Sunday (U.S. time), the U.S. military launched strikes against Iran following Iran's drone attacks on U.S. allies in the Middle East. After opening 0.85 percent lower at 7,412.03, the KOSPI fell as low as 7,159.42.

Jul 13, 2026By Yonhap
KRX issues sell-side sidecar for KOSPI on sharp fall
Economy

Watchdog chief calls for better consumer protection amid market volatility

The chief of the country's financial watchdog urged asset managers Monday to better protect consumers amid increased market volatility. In a meeting with the heads of major asset managers, Lee Chan-jin, governor of the Financial Supervisory Service (FSS), said their role and responsibilities are increasingly important in selling and managing exchange-traded funds (ETFs) as the market size nearly doubled this year. "Our capital market is facing increased risk factors such as explosive growth, extreme concentration, and increased market volatility," Lee said. Lee cited sharp growth in the local ETF market as its net asset value spiked to 507.4 trillion won ($338 billion) as of end-May, from 297.1 trillion won at the end of last year. Asset managers need to refrain from hurting fair competition in selling their products to consumers. In particular, the FSS chief has been expressing concerns over the newly introduced single-stock leveraged ETFs, saying the products have been generating many side effects, and his agency is drawing up measures to better safeguard investors. Earlier, Lee said the

Jul 13, 2026By Yonhap
Watchdog chief calls for better consumer protection amid market volatility
Economy

Exports up 54% in first 10 days of July on strong chip shipments

Korea's exports jumped 53.9 percent from a year earlier in the first 10 days of July, data showed Monday, on the back of strong outbound shipments of semiconductor products. Outbound shipments reached $29.8 billion in the July 1-10 period, compared with $19.3 billion tallied in the same period last year, according to the data from the Korea Customs Service. It marked the highest figure for any 10-day period compiled by the customs agency. The previous record was $28.6 billion, posted in June. Imports went up 17.4 percent on-year to $23.5 billion over the cited period, resulting in a trade surplus of $6.4 billion, the latest findings showed. By sector, exports of semiconductors nearly tripled to $11.2 billion, while those of automobiles rose 5.7 percent to $1.89 billion. Outbound shipments of petroleum products and ships advanced 22.7 percent and 75.1 percent, respectively, to $1.75 billion and $1.54 billion. By destination, exports to China surged 88.7 percent to $7 billion, while those to the United States rose 43.2 percent to $4.91 billion. As of Friday, cumulative exports this year total

Jul 13, 2026By Yonhap
Exports up 54% in first 10 days of July on strong chip shipments
Economy

BOK sees AI-driven chip supercycle continuing, dismisses 'peak-out' concerns

The Korean central bank said the global semiconductor market remains undersupplied and the current AI-driven supercycle is expected to continue for some time, according to a report released Monday, dismissing investors' concerns that the chip cycle has already peaked. "While semiconductor demand has surged significantly due to investments in artificial intelligence (AI) infrastructure, the pace of supply expansion has been slow," the Bank of Korea (BOK) said in a report submitted to Rep. Park Sung-hoon, adding that the semiconductor cycle has yet to slow. The BOK said the current chip cycle differs from previous ones because it is being driven by competitive corporate investment in anticipation of fundamental changes to the industrial ecosystem brought about by the spread of AI. "The pace of supply expansion is more constrained than in the past, as the market is led by custom products such as high-bandwidth memory (HBM)," the BOK said. "The global semiconductor market is expected to continue its expansionary trend for a considerable period." The report comes amid growing concerns over de

Jul 13, 2026By Yonhap
BOK sees AI-driven chip supercycle continuing, dismisses 'peak-out' concerns
Economy

EV boom brings higher insurance costs for drivers

When the owner of a Volkswagen ID.5 checked his insurance renewal quote, he had to do a double take. Despite another year of accident-free driving, his annual premium jumped from 430,000 won ($286) to 700,000 won. “Has anyone else's insurance gone up this much?” wrote the driver, who is in his late 40s, in an online forum for electric vehicle (EV) owners. Another forum user, who is waiting on a delivery of a newly ordered EV, said the insurance quote alone gave him second thoughts. “I was told it would cost 300,000 to 400,000 won more than my gasoline car,” he wrote. “I guess I’ll have to make up for it through savings on charging and vehicle taxes.” For many EV owners in Korea, those experiences are becoming increasingly familiar. As EVs gain market share in the country — helped by lower running costs, government subsidies and a growing range of models — many drivers say unexpectedly high insurance premiums are eroding much of the financial advantage of switching from gasoline-powered cars. According to the Ministry of Land, Infrastructure and Transport, 220,177 new EVs

Jul 12, 2026By Park Han-sol
EV boom brings higher insurance costs for drivers
Economy

Nationalist buying wave rescues stocks facing delisting

For decades, Monami's familiar ballpoint pens have filled Korean classrooms, offices and pencil cases. Now, a wave of nostalgia-driven buying is giving the 65-year-old stationery maker an unexpected lifeline in the stock market. "Now that I'm an adult who can buy Monami shares, I've placed an order, hoping there is still room for a little nostalgia in this world. Please keep going," an investor wrote on a local brokerage's online community. "Who in Korea hasn't heard of Monami pens? A company like this deserves to thrive as a long-standing Korean brand," another wrote. Such expressions of affection have quickly translated into buying interest, as retail investors rallied around the company. According to the Korea Exchange, Monami shares jumped 25.66 percent on Friday to close at 2,145 won ($1.43), marking a sharp rebound from their all-time low of 1,065 won on June 26. The company had faced the risk of delisting after the Korea Exchange moved to tighten the market capitalization requirements for maintaining a stock market listing. As public interest surged, Monami's shares soared, pushin

Jul 12, 2026By Lee Yeon-woo
Nationalist buying wave rescues stocks facing delisting
Economy

SK hynix's mega US listing set to revive chip rally

SK hynix's Nasdaq debut on Friday is expected to provide further momentum for the chipmaker's shares, according to market watchers. Investors are closely watching whether the listing can revive a broader appetite for artificial intelligence (AI)-driven semiconductor stocks amid mounting concerns that the sector's rally may have peaked. The KOSPI climbed more than 2 percent on the day to close back above the 7,400 mark, supported by improving investor sentiment toward semiconductor stocks. SK hynix is scheduled to begin trading on the Nasdaq on Friday (local time), under the ticker SKHY after pricing its American depositary receipts (ADRs) at $149 each. ADRs allow U.S. investors to trade foreign companies on U.S. exchanges without purchasing their underlying shares directly in overseas markets. The offering consists of 177.9 million ADRs, each representing one-tenth of a Seoul-listed common share, and is expected to raise about 40 trillion won ($26.6 billion), making it the largest U.S. listing by a foreign company, surpassing Alibaba's 2014 debut. SK hynix said it plans to use the proceeds

Jul 10, 2026By Lee Hyo-jin
SK hynix's mega US listing set to revive chip rally
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