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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

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

    3 MIN READBy Jun Ji-hye
    [COVER STORY] 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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Economy

Korean authorities sell net $13.6 bil. in Q1 to stabilize FX market

The Korean authorities sold a net $13.6 billion in the first quarter to stabilize the foreign exchange market, central bank data showed Tuesday. It marked the sixth consecutive quarter of net dollar selling since the fourth quarter of 2024, bringing the cumulative total to a net $45.35 billion over the period, according to data released by the Bank of Korea (BOK). The Korean won weakened to 1,530.1 won against the U.S. dollar at the end of March from 1,439 won at the end of last year. Korea's foreign reserves fell by nearly $4 billion in March amid the authorities' intervention in response to the sharp depreciation of the Korean won following the outbreak of the U.S.-Iran war. The March decline was the largest monthly drop in foreign reserves in 11 months since April last year, when they fell by $5 billion.

Jun 30, 2026By Yonhap
Korean authorities sell net $13.6 bil. in Q1 to stabilize FX market
Others

KOSPI edges higher after volatile session as tech stocks drive gains

KOSPI ended slightly higher on Tuesday after opening on a positive note, supported by a strong overnight rally in U.S. technology shares, but overall trading was marked by fluctuations. The index began the session up 22.05 points, or 0.26 percent, at 8,416.70, and briefly built on early momentum. However, it soon drifted into a narrow range as fluctuations persisted throughout the day before closing at 8,476.48, up 81.83 points, or 0.97 percent, from the previous session. Persistent foreign selling acted as a drag on broader upside momentum. In the United States, equities finished higher as a rebound in mega-cap tech stocks helped reverse recent weakness tied to valuation concerns. The Dow Jones Industrial Average climbed 0.59 percent, breaking above the 52,000 mark for the first time. The S&P 500 rose 1.18 percent, while the Nasdaq Composite advanced 2.07 percent. Semiconductor names led the advance, with Nvidia, Micron Technology and Broadcom fueling a 3.83 percent gain in the Philadelphia Semiconductor Index. Those positive moves provided some support for Korean chipmakers, though gain

Jun 30, 2026By Jun Ji-hye
KOSPI edges higher after volatile session as tech stocks drive gains
Cryptocurrency

Global crypto exchanges repackage Korean chip stocks as perpetual futures

Global cryptocurrency exchanges are offering high-leverage perpetual futures linked to Korean chip stocks and the KOSPI, seeking new revenue streams as crypto trading volumes decline sharply, industry officials said Tuesday. Binance, the world's largest crypto exchange, has been among the most aggressive players in the shift, rolling out a series of products. One of its products even gives investors exposure of as much as 150 times the move in the KOSPI. On June 22, Binance listed KORUUSDT, a perpetual futures contract tied to KORU, a triple-leveraged KOSPI exchange-traded fund listed on the New York Stock Exchange. The product offers leverage of up to 20 times. Four days later, Binance added another KORU-linked product with leverage of as much as 50 times. Perpetual futures, a staple of crypto trading, allow investors to speculate on the price of an asset without owning it. Unlike traditional equity products, they can be traded around the clock and often come with far higher leverage. The expansion builds on Binance's earlier move into derivatives tied to Korean semiconductor stocks. On

Jun 30, 2026By Lee Yeon-woo
Global crypto exchanges repackage Korean chip stocks as perpetual futures
Economy

Accelerated Yongin investment well within Samsung, SK hynix financial flexibility: S&P

Samsung Electronics and SK hynix have sufficient financial flexibility to accelerate planned investment in the Yongin semiconductor cluster, S&P Global Ratings said Tuesday, easing concerns that the chipmakers' upcoming investment package could weigh on their financial stability. Speaking at a media briefing in Seoul, Jeremy Kim, associate director for Asia-Pacific corporate ratings at S&P Global Ratings, said the timing of the planned investment in the chip cluster in Yongin, Gyeonggi Province, could be brought forward, resulting in a modest increase in capital expenditure over the next two years. "There could be some increase in capital expenditure this year and next, but both SK hynix and Samsung Electronics have sufficient financial capacity to absorb that through their free cash flow," Kim said. The comments came a day after Samsung Electronics and SK hynix unveiled an approximately 4,700 trillion won ($3.4 trillion) investment package, including about 3,500 trillion won earmarked for expanding production of advanced semiconductors and artificial intelligence (AI) data centers. Sams

Jun 30, 2026By Lee Hyo-jin
Accelerated Yongin investment well within Samsung, SK hynix financial flexibility: S&P
Economy

Tax revenue up 19% in May on higher income, bullish stock market

Korea's tax revenue shot up nearly 19 percent in May from a year earlier due to higher incomes and the recent bullish run in the stock market, data showed Tuesday. The government collected 35.8 trillion won ($23.2 billion) in taxes last month, compared with 30.1 trillion won posted a year earlier, according to the Ministry of Finance and Economy. The finance ministry attributed the sharp increase to higher income tax collections, which totaled 22 trillion won in May, up 16.5 percent from a year earlier, following gains from overseas securities and property transactions. Korea also collected 1.3 trillion won in securities transaction tax in May, soaring from just 300 billion won tallied last year. Corporate tax revenue jumped 9.6 percent on-year to 7.6 trillion won in May, amid improved earnings reports. For the January-May period, tax revenue came to 199.9 trillion won, up 16 percent from a year earlier.

Jun 30, 2026By Yonhap
Tax revenue up 19% in May on higher income, bullish stock market
Economy

Korean won hits fresh 17-year low on fund outflows

The Korean won weakened further against the U.S. dollar to hit a fresh 17-year low Tuesday, as overseas investors continued to sell local stocks. The won was quoted at 1,549.4 won per dollar at 3:30 p.m., down 4.2 won from the previous session, marking the weakest level since March 6, 2009. The won opened at 1,543.1 won per dollar, up 2.1 won from the previous session, but fell to as low as 1,550.2 won per dollar at one point in the morning trading. It was the first time in 16 trading sessions that the won slumped to the 1,550-won level in intraday trading. The won's weakness has continued as foreign investors remained net sellers of local stocks with investors betting on a strong dollar. Adding pressure on the won, the Japanese currency also dipped to a 40-year low against the dollar. Foreign investors sold a net 3.8 trillion won ($2.5 billion) worth of local stocks on Tuesday, remaining net sellers of local stocks for the eighth consecutive trading session. The benchmark Korea Composite Stock Price Index (KOSPI), meanwhile, rose 0.97 percent to close at 8,476.47.

Jun 30, 2026By Yonhap
Korean won hits fresh 17-year low on fund outflows
Policy

Gov't newly designates 3 areas in Gyeonggi as speculative zones

The government on Tuesday designated three new areas in Gyeonggi Province as speculative zones subject to tighter lending rules, following a sharp rise in home prices in the areas. The Ministry of Land, Infrastructure and Transport said it designated Dongtan Ward in Hwaseong, Giheung Ward in Yongin and Guri as regulatory zones during a residential policy deliberation committee meeting held Monday. The ministry said the designations are intended to curb speculative buying, protect genuine homebuyers and address overheating in the housing market. Property prices in Dongtan and Giheung have risen recently amid expectations of further gains, fueled by windfall bonuses received by employees of Samsung Electronics and improvements in transportation infrastructure. The two areas are near the chipmaker's headquarters in Suwon and key production facilities. Real estate prices in Guri have also climbed, as the city is close to Seoul, particularly the Gangnam business district. Home prices in Dongtan rose a cumulative 11.38 percent as of the fourth week of June, marking the largest increase in the c

Jun 30, 2026By Yonhap
Gov't newly designates 3 areas in Gyeonggi as speculative zones
Economy

Seoul shares edge up late Tue. morning on Wall Street gains

Korean stocks traded slightly higher late Tuesday morning, tracking overnight gains on Wall Street as easing tensions in the Middle East boosted investor appetite. The benchmark Korea Composite Stock Price Index (KOSPI) gained 8.97 points, or 0.11 percent, to 8,403.62 as of 11:20 a.m., after opening 0.68 percent higher. Investor sentiment improved after the United States and Iran were set to resume talks in Qatar aimed at easing tensions in the Strait of Hormuz, alleviating concerns over a prolonged disruption to global oil supplies. Overnight, Wall Street rebounded sharply as investors returned to tech stocks. The Dow Jones Industrial Average gained 0.59 percent to close at a record high, while the Nasdaq composite jumped 2.07 percent and the S&P 500 advanced 1.18 percent. Crude prices rose modestly as investors monitored implementation of the U.S.-Iran peace framework. Tech shares were mixed. Top market cap Samsung Electronics rose 1.86 percent, while chip giant SK hynix slipped 0.27 percent. The two companies on Monday announced major long-term investment plans to accelerate construction

Jun 30, 2026By Yonhap
Seoul shares edge up late Tue. morning on Wall Street gains
Economy

Industrial output down in May on chip volume adjustments

Korea's industrial output fell in May from a month earlier due mainly to a decline in chip production caused by a base effect and volume adjustments, data showed Tuesday, while retail sales rebounded slightly over the period. Industrial production fell 0.3 percent last month from April, according to data from the Ministry of Data and Statistics, extending on-month losses for two consecutive months. Output in the mining and manufacturing sector, a key pillar of the economy, fell 3 percent due to a decline in the production of chips and pharmaceutical products, while that of the automobile sector increased. The Ministry of Finance and Economy said the overall decrease in the industrial output came amid disruptions in the supply of raw materials following the Middle East war, along with an adjustment in chip production, which had recently increased sharply. In detail, the production of the semiconductor industry fell 10 percent, with the data ministry citing a decrease in the shipment of memory chips, including dynamic random-access memory (DRAM), due to a base effect and volume adjustments

Jun 30, 2026By Yonhap
Industrial output down in May on chip volume adjustments
Policy

What's left to curb weak won?

Market attention is increasingly focused on what, if anything, can reverse the won’s slide as the won-dollar exchange rate has remained above the psychologically important 1,500 won level for more than a month despite easing geopolitical tensions, according to industry analysts, Monday. With heavy foreign selling of Korean equities and a stronger U.S. dollar continuing to weigh on the won, concerns are growing that the currency’s weakness may be becoming structural rather than merely reflecting a temporary external shock. The analysts said the key variables that will determine the won’s direction in the second half include whether the pressure of foreign investors’ selling eases, whether the Bank of Korea (BOK) raises its benchmark interest rate and whether an expected influx of U.S. dollars from SK hynix’s $30 billion American depositary receipt (ADR) listing on the Nasdaq next month materializes. The government has also stepped up microlevel measures, including closer monitoring of the offshore non-deliverable forward (NDF) market and illegal foreign exchange transactions. I

Jun 30, 2026By Jun Ji-hye
What's left to curb weak won?
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