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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

Finance ministry divided into 2 bodies in gov't reorganization

The finance ministry was formally divided into two separate ministries on Friday, with a newly established body taking over the government's budget planning functions. Under a government reorganization, the ministry was divided into the Ministry of Economy and Finance and the newly established Ministry of Planning and Budget, which has been placed under the Prime Minister's Office. The reorganization comes nearly 18 years after the current system was launched in 2008 under the previous Lee Myung-bak administration, when the two ministries were merged. "Facing us now are goals that must be achieved, including a rebound in potential growth and making this year the starting point for a major economic leap forward," Finance Minister Koo Yun-cheol said during an opening ceremony at the ministry. Lee Hye-hoon, a former three-term lawmaker from the conservative bloc, has been nominated to head the newly created ministry.

Jan 2, 2026By Yonhap
Finance ministry divided into 2 bodies in gov't reorganization
Economy

Economic growth sans IT sector contribution projected at 1.4% in 2026: BOK chief

Bank of Korea (BOK) Gov. Rhee Chang-yong on Friday projected the economy, when excluding the information technology (IT) sector, to grow 1.4 percent this year, forecasting widening disparities across sectors. "The IT sector is expected to lead growth this year on the back of a global semiconductor upcycle. If we exclude its contribution, economic growth would be limited to 1.4 percent," Rhee said in his New Year's address. In its latest outlook released in November, the BOK forecast the economy to grow 1.8 percent in 2026, accelerating from last year's projected 1 percent expansion. Rhee said the widening of gaps in the pace of recovery across sectors can hardly be considered a "sustainable or complete" form of economic recovery for the nation, while stressing the need for continued structural reforms. Speaking of the foreign exchange market, Rhee said the won's recent 1,400 won level against the U.S. dollar "appears to be significantly out of line with the fundamentals of the economy." He warned that a weaker won could increase inflationary pressure and put domestic-oriented companies at

Jan 2, 2026By Yonhap
Economic growth sans IT sector contribution projected at 1.4% in 2026: BOK chief
Others

AI bubble, won-dollar volatility, Fed policy to test Seoul's stock market in 2026

Concerns over an artificial intelligence (AI) bubble, the weakening won and potential changes in U.S. interest rate policy loom as major variables — so-called “gray rhinos” — that could shake the Korean stock market in 2026, analysts said Thursday. A gray rhino is an economic term referring to a danger that is plainly visible and widely recognized, yet frequently underestimated or inadequately prepared for. It contrasts with a “black swan,” which denotes a shock that emerges without warning. Questions surrounding a possible AI bubble are expected to remain a decisive factor for global technology stocks. Should major tech firms continue their aggressive cloud infrastructure spending as planned, investor anxiety could subside, allowing semiconductor shares to gain additional upward momentum. Experts caution, however, that investment fueled by heavy borrowing could undermine market confidence. Goldman Sachs estimates that capital spending by the five largest cloud computing and storage service providers — Amazon, Google (Alphabet), Meta, Microsoft and Oracle — will total $47

Jan 2, 2026By Jun Ji-hye
AI bubble, won-dollar volatility, Fed policy to test Seoul's stock market in 2026
Policy

Regulator seeks tighter oversight of major retail platforms

Korea's financial regulator said Thursday it will move to strengthen oversight of major retail platforms in coordination with other government agencies following a recent data breach involving e-commerce giant Coupang. Financial Supervisory Service (FSS) Gov. Lee Chan-jin said in a New Year's address that the regulator plans to pursue institutional reforms to apply supervisory frameworks for large retail platforms similar to those used for financial institutions. The remarks were widely seen as aimed at Coupang, which said the breach affected about 3,000 user accounts, far fewer than its initial estimate of 33.7 million disclosed in late November. The government, however, rejected the revised figure last week, saying about 33 million customers were affected. Coupang is not classified as a financial services provider and has therefore remained outside the scope of direct supervision by financial authorities. The FSS has since joined a public-private investigation into the incident.

Jan 1, 2026By Yonhap
Regulator seeks tighter oversight of major retail platforms
Cryptocurrency

Mirae Asset's Korbit takeover bid signals shake-up in Korea's crypto market

The domestic crypto market is poised for a major shake-up this year as Mirae Asset Financial Group, a heavyweight in Korea’s financial investment sector, moves to acquire Korbit, the nation’s oldest cryptocurrency exchange, industry officials said Thursday. Korea’s cryptocurrency exchange industry is currently dominated by Upbit and Bithumb, followed by Coinone, Korbit and Gopax. Upbit controls about 63 percent to 65 percent of the market, while Bithumb holds about 30 percent to 31 percent, giving the two platforms overwhelming dominance. Coinone’s share stands at around 5 percent, with Korbit and Gopax each accounting for less than 1 percent. The market, long seen as resistant to disruption, is now showing signs of change, with Mirae Asset Consulting, an affiliate of Mirae Asset Financial Group, in talks to acquire stakes in Korbit held by its largest shareholder, NXC, which owns 60.5 percent, and second-largest shareholder SK Planet, with 31.5 percent. Market watchers estimate the deal could be valued at between 100 billion won ($69 million) and 140 billion won. Mirae Asset’s

Jan 1, 2026By Jun Ji-hye
Mirae Asset's Korbit takeover bid signals shake-up in Korea's crypto market
Others

From state pension to foreign workers, K-food: How policies will change in 2026

National pension contributions to rise Starting in 2026, Korea will gradually increase the national pension contribution rate, raising the monthly premium from 9 percent to 13 percent of workers’ salaries. The Ministry of Health and Welfare’s move is part of broader efforts to ensure the long-term sustainability of the pension system amid a rapidly aging population. Self-employed contributors who pay the full premium themselves will see their monthly payment increase by up to 31,850 won ($22), based on the income ceiling capped at 6.37 million won. For salaried workers — whose employers shoulder half of the contribution — the per-person cost will increase by up to 15,925 won a month. English disclosure requirement strengthened The Financial Services Commission will significantly expand mandatory English disclosures for listed firms to improve transparency and attract foreign investors. Under the new rule, KOSPI-listed companies with assets of at least 2 trillion won will be required to provide disclosures in English, tightening the previous threshold, which applied only to companies

Jan 1, 2026By Lee Kyung-min
From state pension to foreign workers, K-food: How policies will change in 2026
  • From AI child protection to visa reform: What social policies are changing in 2026
Economy

Korea's exports hit all-time high of $709.7 bil. in 2025

Korea's exports reached an all-time high of $709.7 billion in 2025, surpassing the landmark $700 billion mark for the first time, government data showed Thursday. Annual exports rose 3.8 percent from a year earlier, with semiconductor exports jumping 22.2 percent on-year to a record high of $173.4 billion on the back of the growth of artificial intelligence (AI), according to the data compiled by the Ministry of Trade, Industry and Resources. Imports edged down 0.02 percent on-year to $631.7 billion in 2025, resulting in the largest trade surplus since 2017 of $78 billion. The ministry attributed record-breaking exports last year to the robust performance of key export items, such as semiconductors, automobiles and ships, as well as the growth of smaller industries, including agro-fisheries and cosmetics. Export destinations also diversified last year, with shipments to the United States and China down amid the rise of trade protectionism, but shipments to the Association of Southeast Asian Nations (ASEAN), Latin America and the Commonwealth of Independent States (CIS) went up, the minis

Jan 1, 2026By Yonhap
Korea's exports hit all-time high of $709.7 bil. in 2025
Cryptocurrency

Korbit fined $1.9 mil. over anti-money laundering lapses

Cryptocurrency exchange Korbit has been slapped with an institutional warning and a 2.73 billion won ($1.9 million) fine for breaching anti-money laundering rules, the Financial Services Commission (FSC) said Wednesday. The penalties were decided by the sanctions review committee of the Financial Intelligence Unit (FIU), which operates under the country’s top financial regulator. Disciplinary actions were also taken against senior executives, with the company’s CEO receiving a “caution” and the reporting officer facing a “reprimand.” The FIU’s comprehensive on-site inspection uncovered multiple violations of the Act on Reporting and Using Specified Financial Transaction Information, including breaches of customer due diligence requirements, failures to restrict transactions and violations of the ban on dealings with unreported virtual asset service providers. Authorities identified around 22,000 cases involving improper customer identification and transaction controls. Under the law, virtual asset operators are required to block transactions for customers whose verification

Dec 31, 2025By Jun Ji-hye
Korbit fined $1.9 mil. over anti-money laundering lapses
Economy

Korean won posts record-low annual average against US dollar in 2025

The local currency posted its weakest annual average against the U.S. dollar ever this year, data showed Wednesday, amid political turmoil and increased overseas stock investments by local investors. The won averaged 1,422.16 won against the greenback in onshore trading in 2025, the lowest level on record, according to market data. The previous record yearly low of 1,398.39 won was set in 1998, when Korea was hit by the Asian financial crisis. On Tuesday, the final trading session of the year, the won was quoted at 1,439 per dollar, down 9.2 won from the previous session. Compared with a year earlier, when the country was reeling from political turmoil sparked by then President Yoon Suk Yeol's shocking declaration of martial law, the won has risen by 33.5 won. The won hit a yearly low of 1,484.1 per dollar on April 9, while its strongest level was 1,350 on June 30. The quarterly average stood at 1,452.66 won in the first quarter, 1,404.04 won in the second and 1,385.25 won in the third, before slipping back to 1,450.98 won in the fourth quarter. The won's sharp weakness this year was driven

Dec 31, 2025By Yonhap
Korean won posts record-low annual average against US dollar in 2025
Policy

Korea to extend visa fee waiver for group tourists from 6 countries until June

Korea will extend the waiver on visa processing fees for an additional six months for group tourists from six countries, including China, the finance chief said Wednesday. Under the plan announced by Finance Minister Koo Yun-cheol, the fee exemption for C-3-2 visas, which was originally set to expire Wednesday, will continue until the end of June next year. The six countries covered by the extension are China, India, Vietnam, the Philippines, Indonesia and Cambodia. Koo said the plan is "to maintain momentum in inbound tourism." Currently, processing fees for C-3-2 visas are set at 18,000 won ($12.46).

Dec 31, 2025By Yonhap
Korea to extend visa fee waiver for group tourists from 6 countries until June
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