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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

Gov't borrows 2nd-largest $113.65 bil. in temporary loans from BOK in 2025: data

The government borrowed the second-largest amount of temporary funds on record from the central bank last year through its overdraft facility, data showed Wednesday. According to the data from the Bank of Korea (BOK) submitted to Rep. Park Sung-hoon of the main opposition People Power Party, the government's temporary borrowings from the BOK totaled 164.5 trillion won ($113.65 billion) in 2025, including 5 trillion won drawn in December. The figure was slightly lower than the record 173 trillion won posted in 2024. In detail, the government borrowed 88.6 trillion won in the first half of 2025, as the country was reeling from political turmoil following the martial law declaration in December 2024, and another 75.9 trillion won in the second half. The government, accordingly, paid 158.09 billion won in interest to the BOK last year, the second-highest annual interest payment on record, following 209.28 billion won in 2024, the data showed. The overdraft facility allows the government to temporarily borrow funds from the central bank to cover short-term mismatches between revenue and spendi

Jan 7, 2026By Yonhap
Gov't borrows 2nd-largest $113.65 bil. in temporary loans from BOK in 2025: data
Policy

Gov't to expand tariff-rate quota on mackerel amid price hike

The oceans ministry said Tuesday it plans to expand imports of mackerel through the tariff-rate quota system and release government reserves amid soaring prices. Starting this month, the Ministry of Oceans and Fisheries said it plans to release 2,000 tons of mackerel from its stockpiles with a 30 to 50 percent discount, while importing 20,000 tons with zero tariffs. The tariff-rate quota system allows certain volumes of imports to benefit from lower tariff rates within a specified limit. The tariff on mackerel is currently set at 10 percent. The quota represents a twofold rise from 10,000 tons allocated in 2025. South Korea has been making efforts to diversify mackerel imports from Britain and Chile, following reduced production in Norway, which accounts for roughly 80 to 90 percent of total imports.

Jan 6, 2026By Yonhap
Gov't to expand tariff-rate quota on mackerel amid price hike
Others

Billionaire entrepreneurs more than double among top 50 stockholders

Billionaires who founded their own companies are increasingly shaping the list of Korea’s top 50 stockholders, with their number more than doubling over the past decade, data showed Tuesday. Released by corporate tracker Leaders Index, the data challenges the long-standing belief that inheritance is the main driver of wealth accumulation in the country. A total of 24 individuals out of the 50 richest stockholders were entrepreneurs as of Dec. 30, up from 11 in 2015, representing a 2.2-fold increase over the time period. The value of the top 50’s stock holdings also more than doubled over the decade, rising from 85.88 trillion won ($59.41 billion) to 178.59 trillion won. The industry distribution of billionaires has also expanded. Their wealth was previously concentrated in information technology, gaming, and pharmaceuticals, but it has since spread to entertainment, secondary batteries, construction, finance and other sectors. Seo Jung-jin, chairman of the biopharmaceutical company Celltrion, came in eighth, making him the highest-ranked among the 24 billionaires who gained their wealt

Jan 6, 2026By Yi Whan-woo
Billionaire entrepreneurs more than double among top 50 stockholders
Others

Half of financially strained older adults turn to high-interest loans, raising concerns over debt inheritance

More than half of financially strained older adults are taking out high-interest borrowing loans, fanning concerns that their debt could be passed on to their families in what could become a social, intergenerational problem, a study showed Tuesday. The findings come amid rapid population aging with the rising possibility of unsettled debt among older adults undermining not only their retirement security but also translating into unwanted financial stress for younger generations already burdened by higher housing and living costs. Also lingering are concerns over exposure to illegal debt collection, with reports of older adults being coerced to quickly repay their debts or have their family members threatened. According to a survey by BNP Paribas Cardif Life Insurance Korea, nearly half, or 45.6 percent, of older adults who have taken out loans said that they resorted to second- or third-tier higher interest-charging financial institutions, including capital firms and private lenders. These lenders are used by low-credit borrowers with weak credit, low income and unstable employment hist

Jan 6, 2026By Lee Kyung-min
Half of financially strained older adults turn to high-interest loans, raising concerns over debt inheritance
Economy

Retail investors scale back US stock purchases, signaling return to domestic market

A retail investor holding U.S. stocks said in a recent online community post that he decided to sell his Microsoft shares, which fell 5 percent over the past six months — from $497.72 on July 7, 2025, to $472.85 as of Monday. He said he is instead considering returning to the domestic stock market where he had invested for years, even before the U.S. stock boom driven by artificial intelligence (AI). “I judged that not all U.S. stocks, including the ‘Magnificent 7,’ guarantee the high returns many newcomers to the U.S. stock market expect,” the user, going by the moniker “I’m heading out of the office now” wrote, referring to the seven dominant mega-cap tech companies — Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla. “In particular, the tax relief and other recent benefits offered by the government convinced me to shift from New York to Seoul,” the investor added. The case signals a potential comeback of Korean individual investors, although this remains debated, in response to the government’s aggressive efforts to stabilize the volatile currency mark

Jan 6, 2026By Yi Whan-woo
Retail investors scale back US stock purchases, signaling return to domestic market
Economy

Korea's FX holdings shrink at steepest rate in 28 years to $428.05 billion

Korea’s foreign exchange (FX) reserves in December declined at the sharpest rate in 28 years, strained by the government's aggressive currency market intervention to limit further weakening of the Korean won against the U.S. dollar, central bank data showed Tuesday. The measures partially stabilized the currency, but doubts persist over the long-term effectiveness of such short-term interventions, especially if market volatility intensifies. Experts warn that FX reserves could face additional pressure in the near term, as financial institutions move to withdraw foreign currency temporarily deposited at the central bank to meet year-end regulatory ratio requirements. Still, large withdrawals of funds are likely to be limited because authorities are now paying interest on extra foreign currency deposits. There’s also hope that government intervention could ease, helping to stabilize FX reserves. According to Bank of Korea data, the country’s FX reserves stood at $428.05 billion at the end of December, down $2.6 billion from November. The drop was the second-sharpest December decline

Jan 6, 2026By Lee Kyung-min
Korea's FX holdings shrink at steepest rate in 28 years to $428.05 billion
Economy

KOSPI tops 4,500 for 1st time on techs, brokerages, shipbuilders

Seoul shares jumped more than 1.5 percent Tuesday to close at above the historic milestone of 4,500 on the back of a rise in semiconductors, brokerages and shipbuilders. The Korean won fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) climbed 67.96 points, or 1.52 percent, to finish at a new record high of 4,525.48, breaking the 4,500-point mark for the first time. The index broke through the 4,400-point threshold the previous session on continued gains in technology stocks. Trading volume was heavy at 492.84 million shares worth 25.27 trillion won ($17.4 billion), with losers outnumbering gainers 482 to 394. The index opened lower, bucking overnight gains on Wall Street, but later turned higher as retail investors scooped up technology and other large-cap stocks. Individuals bought a net 597.55 billion won worth of shares, offsetting net selling by foreigners and institutions totaling 618.83 billion won and 68.93 billion won, respectively. Foreign investors turned net sellers Tuesday after purchasing more than 2.8 trillion won worth of shares over the p

Jan 6, 2026By Yonhap
KOSPI tops 4,500 for 1st time on techs, brokerages, shipbuilders
Economy

Imported car sales jump nearly 17% in 2025; BMW tops list for 3rd year

Sales of imported vehicles in Korea increased nearly 17 percent on-year in 2025, with BMW maintaining its market lead in the country for the third consecutive year, industry data showed Tuesday. According to the data from the Korea Automobile Importers & Distributors Association (KAIDA), registrations of new imported passenger cars totaled 307,377 last year, up 16.7 percent from 263,288 in 2024. In December alone, new registrations came to 28,608, up 21.6 percent from a year earlier. KAIDA attributed the annual market growth to increased demand of foreign electric vehicles (EVs) and an expansion of new product lineups. By brand, BMW led the market with 77,127 vehicles sold in 2025, followed by Mercedes-Benz with 68,467 units and Tesla with 59,916 units. Volvo ranked fourth with 14,903 units, trailed by Lexus at 14,891 units. By fuel type, hybrids dominated the market with 174,218 units, or 56.7 percent, followed by EVs at 29.7 percent, gasoline models at 12.5 percent and diesel vehicles at 1.1 percent.

Jan 6, 2026By Yonhap
Imported car sales jump nearly 17% in 2025; BMW tops list for 3rd year
Economy

Korea’s beloved mackerel becomes unaffordable amid dwindling supply, weak won

Choi, a housewife in her 70s, says she can no longer afford mackerel, one of Korea’s most popular staples. “I’m always surprised when I see the price tag on a catch, as it seems to go up faster every year,” she said. Her observation is supported by data showing sharp price increases, driven by a declining supply of Norwegian mackerel — which accounts for 80 to 90 percent of imports — and a weakening won, amid scarce domestic stock. According to Korea Agro-Fisheries & Food Trade Corp., the average retail price of imported mackerel reached 10,363 won ($7.16) for two fish in December 2025. The mackerel were salted and classified as large, the size most preferred by consumers. Their price reflected a sharp rise — more than 1.5 times the 6,803 won in 2023 and 28.8 percent higher than 8,048 won in 2024. The increase comes as supply has declined both domestically and abroad. Data from the Korea Maritime Institute showed that monthly mackerel production in Korea recently fell 61.5 percent from a year earlier to 6,993 tons. At the same time, the Ministry of Oceans and Fisheries reporte

Jan 6, 2026By Yi Whan-woo
Korea’s beloved mackerel becomes unaffordable amid dwindling supply, weak won
Policy

Korea, Cambodia to boost tax cooperation to fight illegal fund transfers

Korea's tax agency said Tuesday it has signed an agreement with Cambodia to strengthen information-sharing efforts aimed at combating illegal fund transfers and offshore tax evasion. The agreement was signed by Lim Kwang-hyun, commissioner of the National Tax Service (NTS), and his Cambodian counterpart, Kong Vibol, during their meeting in Seoul on Monday, the NTS said. Lim emphasized the importance of active cooperation between the countries' tax authorities to effectively respond to cross-border crimes, including illegal transfers of funds and offshore tax evasion through the concealment of income and assets. The NTS said it has been holding regular working-level meetings with Cambodian tax officials to bolster information-sharing mechanisms, noting that Cambodia is not a signatory to the multilateral agreement on the automatic exchange of financial account information. The Seoul government has intensified scrutiny of alleged money laundering following a governmentwide review of Korean nationals suspected of involvement in online scams operated by criminal organizations based in the So

Jan 6, 2026By Yonhap
Korea, Cambodia to boost tax cooperation to fight illegal fund transfers
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