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  • Economy

    Expected BOK rate hike prompts concern over rising interest burdens on households, firms

    Expectations of imminent interest rate hikes by the Bank of Korea (BOK) are adding to pressure on households and businesses already struggling with rising borrowing costs, analysts said Sunday. Lending rates at major banks have continued to climb as BOK Gov. Shin Hyun-song struck a hawkish tone following a Monetary Policy Board meeting on May 28, reinforcing market expectations that the central bank could begin raising rates as early as July. According to banking industry data, fixed-rate mortgage loans offered by the country's five major lenders — KB Kookmin, Shinhan, Hana, Woori and NH NongHyup — carried interest rates ranging from 4.39 percent to 7.33 percent as of Friday. The upper end of the range was up 0.33 percentage point from a month earlier, when rates stood between 4.4 percent and 7 percent. It marked the first time since October 2022 that the highest fixed mortgage rate among the five major lenders exceeded 7.3 percent. Personal credit loan rates have also moved higher. As of Friday, interest rates on personal credit loans for top-tier borrowers with one-year maturities ra

    2 MIN READBy Lee Hyo-jin
    Expected BOK rate hike prompts concern over rising interest burdens on households, firms
  • Others

    AI-fueled Samsung affiliates reshape KOSPI market cap rankings

    2 MIN READBy Jun Ji-hye
    AI-fueled Samsung affiliates reshape KOSPI market cap rankings
  • Policy

    Top policymakers vow stern action against speculative FX market activities as won weakens

    2 MIN READBy Yonhap
    Top policymakers vow stern action against speculative FX market activities as won weakens
  • Cryptocurrency

    Bithumb's bitcoin payout blunder results in $1.6 mil. compensation

    2 MIN READBy Lee Hyo-jin
    Bithumb's bitcoin payout blunder results in $1.6 mil. compensation
  • Economy

    S. Korean retail investors sell over $641 bil. in overseas stocks in 1st week of June

    1 MIN READBy Yonhap
    S. Korean retail investors sell over $641 bil. in overseas stocks in 1st week of June
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Others

Key 2026 consumer trends include AI-assisted shopping: Shinhan Card

Artificial intelligence (AI)-assisted spending makes up one of the six key consumer trends for 2026, highlighting consumers’ desire to make rational decisions in the face of overwhelming information, Shinhan Card said Wednesday. The other five trends identified by the country’s leading credit card issuer are price optimization, slow-paced experiential consumption, fandom-driven subculture, data-driven health management and group-based bulk buying. “We summarize these trends under the term 'Wise up,'” the company said, noting that although the phrase is not standard English, it reflects how consumers are becoming smarter and more aware in their spending. “The term represents a new era where consumers leverage technology and data to make smarter choices,” it added. The six keywords were picked based on an analysis conducted by Shinhan Card’s big data research center covering the period from January to October 2025. The company explained that AI assistants are becoming increasingly important, as AI is used to support daily life across work, shopping and other activities. It note

Jan 22, 2026By Yi Whan-woo
Key 2026 consumer trends include AI-assisted shopping: Shinhan Card
Economy

Stocks sharply up late Thursday morning, topping 5,000 mark

Korean stocks were trading sharply higher late morning, jumping over 2 percent, to top the historical 5,000 mark. The benchmark Korea Composite Stock Price Index (KOSPI) rose 99.91 points, or 2.03 percent, to 5,009.84 as of 11:20 a.m. Overnight, U.S. stocks climbed, recovering a significant portion of losses in the previous session after U.S. President Donald Trump retracted his earlier plan to impose Greenland-related tariffs on eight European nations. The Dow Jones Industrial Average rose 1.21 percent, and the S&P 500 added 1.16 percent, while the Nasdaq composite increased 1.18 percent. In Seoul, large-cap shares were trading higher, with tech shares leading the really. Market top-cap Samsung Electronics rose 3.95 percent, while its chipmaking rival SK hynix added 3.65 percent. Leading battery maker LG Energy Solution jumped 5.7 percent. Auto shares were mixed, with top carmaker Hyundai Motor adding 0.91 percent, while its sister Kia lost 1.92 percent. Bio and financial shares were in negative territory, with KB Financial Group dipping 1.32 percent, while bio giant Samsung Biologics tumbl

Jan 22, 2026By Yonhap
Stocks sharply up late Thursday morning, topping 5,000 mark
Economy

Over half of Koreans plan to increase consumer spending in 2026: survey

More than half of Koreans plan to increase their spending this year despite a weakening local currency and rising costs, a survey showed Thursday. According to the consumer habit survey on 1,000 adults by the Federation of Korean Industries, 54.8 percent of respondents said they plan to increase their spending in 2026. Among them, 24.4 percent said they expect to increase spending by up to 5 percent from a year earlier, while 13.9 percent each said they plan to raise their spending by up to 10 percent and 15 percent, respectively. Lifestyle changes and rising income were cited as key reasons for the planned spending hikes. Meanwhile, 45.2 percent said they plan to reduce spending, citing inflation and declining income. The survey also found that 44.1 percent of respondents said a weak Korean won and inflation were the main factors influencing their consumption plans this year, followed by tax burdens and other financial liabilities.

Jan 22, 2026By Yonhap
Over half of Koreans plan to increase consumer spending in 2026: survey
Economy

Korea's economy grows 1% in 2025: BOK

Korea’s gross domestic product (GDP) grew 1 percent in 2025 from the previous year, driven by strong exports despite weakness in the construction sector, central bank data showed Thursday. It was half the 2 percent expansion of 2024. GDP contracted 0.2 percent from the previous quarter in the first quarter of 2025, rose 0.7 percent in the second quarter and 1.3 percent in the third, and turned to a decline of 0.3 percent again in the fourth. According to an advance estimate from the Bank of Korea, last year’s total growth was driven mainly by a continued increase in exports amid solid overseas demand. Private consumption and government consumption also showed growth, offsetting sluggish domestic investment. Construction investment posted a deeper contraction, a sustained decline due to weak property markets and delayed infrastructure projects. Manufacturing growth slowed, but the service sector expanded, contributing positively to overall economic growth. As for the fourth quarter of last year, construction was the biggest drag on growth. The central bank said that had construction been

Jan 22, 2026By Lee Kyung-min
Korea's economy grows 1% in 2025: BOK
Policy

Customs agency launches counter-drug response headquarters to curb smuggling

The Korea Customs Service (KCS) launched a comprehensive counter-drug response headquarters as part of government-wide efforts to combat the growing circulation of narcotics in Korea, the KCS said Wednesday. The customs agency said the headquarters will be overseen by Commissioner Lee Myeong-ku, underscoring its determination to root out drug trafficking at the front line of border control. The headquarters is made up of three teams, each tasked with a specific role in customs surveillance, investigation and intelligence and data support. It will mobilize all required KCS divisions at its headquarters and regional offices nationwide. The launch comes as the KCS steps up its crackdown on drugs, following a record number of seizures in 2025. “The headquarters will serve as the control tower for crackdown at the KCS, coordinating efforts across customs, inspections, investigations and other divisions,” Lee said during the launch ceremony at Seoul Regional Customs. “To ensure these measures are implemented systematically and promptly, I, as chief, will personally oversee the newly estab

Jan 21, 2026By Yi Whan-woo
Customs agency launches counter-drug response headquarters to curb smuggling
Economy

Gov't to temporarily suspend FX stabilization fee until June to boost supplies

Banks and other financial institutions will be temporarily exempt from the foreign exchange stability levy until June as part of government efforts to boost the supply of U.S. dollars, the budget ministry said Wednesday. Under the six-month measure, financial institutions will not be required to pay the special levy, according to the Ministry of Planning and Budget. The exemption will be applied retroactively from the beginning of January. The system requires financial institutions to pay a levy when they hold foreign currency liabilities above a certain level. Exempting the levy is expected to reduce the cost of foreign currency borrowing and increase the supply of dollars in the foreign exchange market The measures come amid the continued depreciation of the Korean won against the U.S. dollar. The local currency was trading at 1,470.3 won per dollar as of 3 p.m., up 9.5 won from the previous session.

Jan 21, 2026By Yonhap
Gov't to temporarily suspend FX stabilization fee until June to boost supplies
Economy

Detected fake banknotes hit record low in 2025: BOK

The number of counterfeit banknotes detected in Korea dropped below 100 for the first time ever in 2025 amid the growing use of cashless payments, the central bank said Wednesday. A total of 98 counterfeit banknotes were found last year, down 33.3 percent from 147 in 2024, according to the Bank of Korea (BOK). The figure dropped from 3,293 in 2015 to below 1,000 for the first time in 2018 and has since remained on a downward trend. About 1.4 counterfeit banknotes were detected per 100 million in circulation in Korea, compared with 1,977 in Britain, 1,866 in the eurozone, 757 in Canada and 16.5 in Japan. The low rate is attributable to a growing preference for non-cash payment methods in face-to-face transactions, and improved public awareness and ability to detect counterfeit bills, the BOK said. "We will maintain close cooperation among relevant agencies to effectively prevent the production and circulation of counterfeit banknotes, and to establish a sound currency circulation system going forward," a BOK official said.

Jan 21, 2026By Yonhap
Detected fake banknotes hit record low in 2025: BOK
Economy

Exports rise 14.9% in first 20 days of January

Korea's exports expanded 14.9 percent from a year earlier in the first 20 days of this month, data showed Wednesday. Outbound shipments reached $36.36 billion in the Jan. 1-20 period, compared with $31.63 billion tallied over the same period last year, according to the data from the Korea Customs Service. Imports increased 4.2 percent on-year to $36.98 billion during the period, resulting in a trade deficit of $600 million, the data showed. In December, exports expanded 13.4 percent from a year earlier to $69.6 billion on strong demand for semiconductors, marking the 11th consecutive month of an on-year increase. For 2025, outbound shipments reached an all-time high of $709.7 billion.

Jan 21, 2026By Yonhap
Exports rise 14.9% in first 20 days of January
Economy

Finance chief says will develop policy initiatives for 'great economic leap'

Finance Minister Koo Yun-cheol on Wednesday pledged efforts to concretely develop a set of ambitious policy initiatives that will support the government's push for what it calls a "great economic leap." Under its new economic plan for 2026, the government will work to make the year the beginning of a rebound in the country's potential growth rate while also addressing various challenges facing the country, such as economic polarization. "The government will make 2026 the inaugural year of a great leap forward for the economy, in which all citizens grow together," Koo said while presiding over a meeting of economy-related ministers, adding that the government will concretely develop policy tasks one by one. As part of the initiative, the government will first significantly expand a cooperative financing program under which large corporations and financial institutions contribute funds to support their partner small and medium-sized companies. The program will be scaled up to 1.7 trillion won ($1.15 billion) from the current 1 trillion won, according to the minister. Participating companies

Jan 21, 2026By Yonhap
Finance chief says will develop policy initiatives for 'great economic leap'
Others

Retail investors' US stock holdings hit record highs despite weak won

Korean retail investors are continuing to pour money into U.S. equities, pushing holdings to record levels even as the won remains weak against the dollar, data from the Korea Securities Depository showed Tuesday. As of last Friday, domestic investors held $171.8 billion worth of U.S. stocks, equivalent to about 253 trillion won, up from $163.6 billion at the end of 2025. Holdings of U.S. equities stood at about $44.2 billion at the end of 2022 and climbed sharply to $112.1 billion by the end of 2024 and further to $163.6 billion by the end of 2025. Tesla tops the list of U.S. stocks held by domestic investors, with holdings valued at $27.5 billion, followed by Nvidia at $17.8 billion, Alphabet at $7.2 billion, Palantir at $6.3 billion and Apple at $4.2 billion. As the surge in overseas stock investments by retail investors has been cited as one of the major factors contributing to the elevated exchange rate, financial authorities are rolling out a range of measures to promote domestic investment and help stabilize the foreign exchange market. On Dec. 24, the Ministry of Economy and Finan

Jan 21, 2026By Jun Ji-hye
Retail investors' US stock holdings hit record highs despite weak won
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