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  • Economy

    Seoul stocks, won hammered by massive foreign selling

    Seoul stocks plunged Friday as a prolonged foreign sell-off collided with a sharp downturn in global semiconductor shares, sending the benchmark KOSPI down more than 5 percent to below the 8,200 level. The sustained foreign investor exodus also continued to weigh on the Korean won. In Seoul’s onshore foreign exchange market, the won closed at 1,539.1 per dollar, down 9.4 won from the previous session. During intraday trading, it briefly approached the 1,550 level, its weakest since March 2009, during the global financial crisis. The won has now traded above the 1,500 per dollar threshold for 14 consecutive sessions. KOSPI opened at 8,323.20, down 3.66 percent from the previous session, according to the Korea Exchange. Heavy selling pressure persisted throughout the day, prompting the year’s 10th sidecar shortly after the opening bell — a market safeguard that temporarily suspends program trading during periods of extreme volatility. The index ultimately closed at 8,160.59, down 5.54 percent. Foreign and institutional investors drove the decline, selling a net 3.52 trillion won and

    2 MIN READBy Park Han-sol
    Seoul stocks, won hammered by massive foreign selling
  • Economy

    Korea diversifying LNG imports to ease Middle East dependence: KOGAS chief

    1 MIN READBy Yonhap
    Korea diversifying LNG imports to ease Middle East dependence: KOGAS chief
  • Economy

    Korea's currency tumbles to 17-year low on foreign stock selloff

    1 MIN READBy Yonhap
    Korea's currency tumbles to 17-year low on foreign stock selloff
  • Economy

    Gov't vows to lower barriers for foreign investors with 24-hour FX market

    1 MIN READBy Yonhap
    Gov't vows to lower barriers for foreign investors with 24-hour FX market
  • Economy

    KRX issues sell-side sidecar for KOSPI on sharp fall

    1 MIN READBy Yonhap
    KRX issues sell-side sidecar for KOSPI on sharp fall
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Economy

KOSPI surges toward 5,000 points faster than expected

The benchmark KOSPI is climbing faster than expected toward an unprecedented 5,000 points, with analysts Wednesday projecting it could reach the milestone as early as the first quarter of this year. The index has broken the all-time closing high in each of the first four trading days of the year, finishing at 4,309.63 points Friday, 4,457.52 on Monday and 4,525.48 on Tuesday. On Wednesday, KOSPI briefly climbed above the 4,600-point mark, reaching an intraday high of 4,611.72 before closing at 4,551.06 points, hitting another all-time high. In particular, KOSPI’s step-by-step climb along the 100-point marks — 4,300, 4,400, 4,500 and 4,600 — has been rarely seen, prompting analysts to revise their forecasts and suggest that the index could reach 5,000 points within the first three months of 2026. Many analysts have agreed that the milestone is within reach this year, citing KOSPI’s 75.62 percent gain in 2025 — the highest among major economies. “I bet President Lee Jae Myung will be most surprised by KOSPI’s accelerated rally,” said Jung Eui-jung, head of the Korean Stockho

Jan 7, 2026By Yi Whan-woo
KOSPI surges toward 5,000 points faster than expected
Economy

Korea to import over 2 mil. eggs from US amid fast spread of bird flu

Korea will import 2.24 million fresh eggs from the United States this month to help stabilize domestic egg prices amid the recent spread of highly contagious avian influenza (AI), the agriculture ministry said Wednesday. The eggs will be purchased by the Korea Agro-Fisheries & Food Trade Corp., and distributed to supermarkets and food ingredient suppliers here, according to the Ministry of Agriculture, Food and Rural Affairs. It will mark the first time in two years for Korea to purchase U.S.-produced eggs. Seoul last imported U.S. eggs in January 2024, a ministry official said. The move is part of a preemptive measure against a potential egg supply shortage, as the country has been coping with the spread of highly contagious bird flu in recent months. Since the start of the cold season, more than 4.32 million laying hens have been culled at farms affected by AI, according to the ministry. The ministry said the country's egg supply currently remains stable, with the number of laying hens growing 1.2 percent from a year earlier as of end-2025, though its daily egg production dropped 1.1 pe

Jan 7, 2026By Yonhap
Korea to import over 2 mil. eggs from US amid fast spread of bird flu
Others

Older adults fear poverty after retirement due to children’s education, wedding costs

Kim Jin-ho, 54, an office worker in Seoul, said he calculates numbers in his head before sleeping. “My son is getting married in October. The wedding will cost 100 million won ($69,000). After that, my savings will drop to below 50 million won. I still have a mortgage to pay and my retirement is less than 10 years away. I wonder if I’ll have to keep working after retirement to support my children, my wife and myself.” For Lee Sun-young, 55, who runs a clothing shop, the fear comes every time she gets tired sooner than usual. “I paid well over 150 million won for my daughter’s university tuition and her allowances, then another 70 million won for her wedding,” she said. “I had my savings to cover some, but took out loans for the rest. Now, I don’t think I need another big expenditure, just hoping that I don’t get seriously ill. I thought life in my early 60s would be easier, but I guess I was wrong.” Like Kim and Lee, many older adults fear poverty after retirement. Their stories are increasingly common as Korea enters a super-aged society where financial pressure does

Jan 7, 2026By Lee Kyung-min
Older adults fear poverty after retirement due to children’s education, wedding costs
Economy

Tax agency urges foreign workers to take advantage of exclusive benefits for year-end tax filing

The National Tax Service (NTS) said Wednesday that foreign workers in Korea are encouraged to take advantage of exclusive benefits for the year-end tax filing, which runs through February. The tax agency estimates that 700,000 foreign nationals are eligible to file taxes, including spouses of Korean nationals, highly skilled engineers and native English teachers. Foreigners married to Korean citizens can receive a 40 percent income tax deduction on contributions to long-term housing savings, if their annual salary does not exceed 70 million won ($48,300) and their spouse does not yet own a home. The maximum tax deduction is limited to 3 million won per year. “This benefit was previously available only to heads of households and did not apply to foreigners who cannot be registered as such under the Resident Registration Act, but it has now been expanded,” the NTS explained. Engineers with a bachelor’s degree or higher and overseas R&D experience are eligible for a 50 percent income tax reduction for 10 years from the start of their employment in Korea. Native English teachers may be

Jan 7, 2026By Yi Whan-woo
Tax agency urges foreign workers to take advantage of exclusive benefits for year-end tax filing
Economy

Private-sector employment expected to pick up in 2026: BOK

Private-sector employment is expected to rise this year from a year earlier, supported by an improvement in private consumption, the central bank said Wednesday. Total employment in South Korea is projected to rise by 150,000 in 2026, with 60,000 of those jobs coming from the private sector, according to a report released by the Bank of Korea (BOK). It compares with an estimated increase of 180,000 jobs in 2025, including 50,000 in the private sector. The government's official job market data is available through November 2025, and full-year statistics have yet to be released. Private-sector job growth has remained sluggish since 2024 due to a downturn in the construction sector, though it has shown signs of recovery since the third quarter of 2025. The BOK added that private-sector employment tends to be more closely correlated with domestic demand and core inflation than total employment.

Jan 7, 2026By Yonhap
Private-sector employment expected to pick up in 2026: BOK
Policy

Finance chief says 2026 economic policy to focus on people's livelihoods

Finance Minister Koo Yun-cheol said Wednesday that the government's economic policy for this year will focus on stabilizing people's livelihoods. "The starting point of a major economic leap forward is a solid foundation for the people's livelihood," Koo said while presiding over an inaugural meeting of ministers. The government has designated the "livelihood economy" as its top policy priority for this year and newly established a ministerial meeting to coordinate related measures. Koo noted that stabilizing livelihoods will eventually help boost domestic demand, inject vitality into the economy and serve as a foundation for narrowing income and asset gaps. "(We) will make all-out efforts together with relevant ministries to ensure that food prices for the public are structurally stabilized," Koo said, stressing that stabilizing food prices is the top priority for livelihoods. As part of such efforts, the government will take preemptive measure in response to the recent spread of avian influenza and the growing number of laying hens being culled, he added. Korea confirmed an additional ca

Jan 7, 2026By Yonhap
Finance chief says 2026 economic policy to focus on people's livelihoods
Economy

FDI pledges to Korea hit record high in 2025 amid eased political uncertainties

Foreign direct investment (FDI) pledges to Korea reached a record high of over $36 billion in 2025, government data showed Wednesday, thanks to eased political uncertainties here and the Asia-Pacific Economic Cooperation (APEC) gathering held in the country's southeastern city of Gyeongju. Last year, Korea received $36.05 billion worth of FDI commitments, up 4.3 percent from $34.57 billion in 2024, according to the Ministry of Trade, Industry and Resources. In 2025, the actual amount of investment that arrived in the country also surged 16.3 percent from a year earlier to $17.95 billion. The ministry said FDI pledges to the country had declined 14.6 percent on-year as of end-June but sharply rebounded in the second half after the administration of President Lee Jae Myung set sail to replace the previous administration of former President Yoon Suk Yeol, who was impeached over his failed martial law bid in late 2024. The APEC summit, held late October in Gyeongju, also helped the country attract foreign investment, it added. During the APEC gathering, seven global companies, including Amazo

Jan 7, 2026By Yonhap
FDI pledges to Korea hit record high in 2025 amid eased political uncertainties
Economy

KOSPI briefly tops 4,600 day after hitting all-time high

The country's benchmark stock index Wednesday briefly topped another historic milestone of 4,600 a day after closing at an all-time high of above 4,500 on an extended chip rally. The benchmark Korea Composite Stock Price Index (KOSPI) was at 4,559.59 at 10:12 a.m., up 34.11 points, or 0.75 percent from the previous session's close, after hitting an intraday high of 4,611.72. On Tuesday, the KOSPI rose 1.52 percent to close at an all-time high of 4,525.48, backed by a rally in semiconductors, brokerages and shipbuilders. Investors are closely watching whether the main index will sustain its rally and close above the 4,600-point level, supported by continued strength in technology stocks.

Jan 7, 2026By Yonhap
KOSPI briefly tops 4,600 day after hitting all-time high
Policy

Korea to create $138 mil. fund for underdeveloped regions in 2026

The government will create a 200 billion-won ($138 million) fund this year to ensure a steady supply of investment capital for regions struggling with population decline and a weakening industrial base, the finance ministry said Wednesday. The fund's structure will be expanded to include a total of six participating institutions, up from three in 2025, according to the Ministry of Economy and Finance, with the newly added institutions expected to invest a combined total of about 50 billion won. Taking into account 277.2 billion won in unspent funds from the previous year, which has a two-year investment period, the government expects total available investment capacity to reach approximately 477.2 billion won this year. The fund is expected to be launched in April following consultations with the new investment institutions, the ministry said. The government also plans to provide advanced training and consulting services for local governments, and regularly host networking events involving fund managers, investors and local authorities.

Jan 7, 2026By Yonhap
Korea to create $138 mil. fund for underdeveloped regions in 2026
Policy

Ruling party, gov't pledge 'proactive' fiscal policy to prop up consumption

The ruling Democratic Party of Korea (DPK) and the government on Wednesday pledged to maintain a "proactive" fiscal policy this year in a bid to prop up private consumption and revive the economy. Finance Minister Koo Yun-cheol said the government will put its focus on supporting people's livelihoods and self-employed people through a "proactive fiscal policy, including boosting total demand." Koo made the remarks as the government and the DPK held a meeting on this year's economic policies. Koo stressed that the government will foster the semiconductor, defense and biotechnology industries while stepping up the transition to an ultra-innovative economy driven by AI transformation and green transition. The government will spare no effort to overcome challenges, such as rising protectionism, disruptions in global supply chains and the weakening of traditional industries, Koo added.

Jan 7, 2026By Yonhap
Ruling party, gov't pledge 'proactive' fiscal policy to prop up consumption
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