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Cryptocurrency investors in S. Korea surpass 16m
The number of virtual asset investors in South Korea has surpassed 16 million, drawing close to overtaking the number of stock investors in the country, data showed Sunday. A total of 16.29 million people had accounts at the top five domestic virtual asset exchanges -- Upbit, Bithumb, Coinone, Korbit and Gopax -- as of late February, according to data submitted to Rep. Cha Gyu-geun of the minor opposition Rebuilding Korea Party. Those who owned multiple accounts at different exchanges were only
March 30, 2025 -
SK hynix top pick for foreign investors in Q3
Major chipmaker SK hynix was the top pick for foreign investors in the first quarter of the year, data showed Saturday. The foreign investors scooped up a net 1.88 trillion won (US$1.28 billion) worth of SK hynix shares during the January-March period on hopes for a turnaround in the sector, according to the data compiled by the Korea Exchange. Defense firm Hanhwa Aerospace and internet portal operator Naver came in next with their net buyings of 733 billion won and 434 billion won, respectively
March 29, 2025 -
Investors see oppportunities for Korea amid intensifying US-China rivalry
South Korea faces a pivotal moment as it maneuvers through intensifying competition between the US and China, but the evolving landscape offers distinct opportunities for the economy, global investors said during an event hosted by the Milken Institute. The California-based economic think tank held its inaugural Global Dinner Dialogue, titled “South Korea at the Crossroads,” in Seoul on Thursday. The event brought together senior executives and regional leaders to discuss Korea’s economic outloo
March 28, 2025 -
Customs agency launches special unit to 'preemptively' respond to US tariff impact
The Korea Customs Service said Friday it has launched a special unit to "preemptively" protect domestic companies from potential fallout due to the latest tariff measures by the US administration. The team aims to minimize anticipated disruptions stemming from US President Donald Trump's planned reciprocal tariffs, which are set to be announced next Wednesday. The measures are designed to align US import tariffs with those imposed by other countries on American exports. "The best scenario would
March 28, 2025 -
Global trade protectionism to push up inflation, volatility in FX markets: think tank
The recent expansion of trade protectionism will put pressure on the global economy, leading to inflation and higher volatility in currency exchange rates, a South Korean state-run economic think tank said Friday. The Korea Institute for International Economic Policy made the assessment in a meeting of trade experts hosted by the Ministry of Trade, Industry and Energy, where participants discussed the shifts in trade policies of major economies, according to ministry officials. KIEP said the gov
March 28, 2025 -
Burger chain Lotteria to raise prices on higher costs
Lotteria, a burger chain operated by Lotte Group's affiliate Lotte GRS Co., will raise prices of its main products next week to pass higher costs onto customers, Lotte GRS said Friday. Lotteria will raise the prices of 65 items, including 23 burgers, beverages and desserts, by an average of 3.3 percent from Thursday, Lotte GRS said in a press release. Of them, the flagship Ria Bulgogi and Ria Shrimp burgers will be sold for 5,000 won ($3.41) per unit, up from the current 4,800 won, it said. "The
March 28, 2025 -
Delinquency rate on bank loans surges in Jan.
The delinquency rate on loans extended by local banks spiked in January due mainly to a base effect and increased newly soured loans, data showed Friday. The delinquency rate on banks' won-denominated loans rose 0.09 percentage point from a month earlier to 0.53 percent at the end-January, according to preliminary data from the Financial Supervisory Service. The amount of newly delinquent loans came to 3.2 trillion won ($2.18 billion) in January, up from the 2.5 trillion won the previous month.
March 28, 2025 -
Seoul’s global financial ascent fueled by fintech, says ex-lord mayor of London
The former Lord Mayor of London, Michael Mainelli, underscored the importance of connectivity in positioning Seoul as a global financial powerhouse, highlighting fintech innovations and a robust regulatory framework as key strengths. Mainelli, now chairman of think tank and consultancy firm Z/Yen Group, believes that enhancing interconnectivity within the global community is essential for Korea and its cities to advance further and remain competitive in the rapidly evolving global economy. “Conn
March 27, 2025 -
BOK warns against market volatility amid uncertainty, rising household debts
The South Korean central bank warned Thursday of the possibility of increased volatility in the financial market and its potential impact on the country's financial stability amid weak economic growth and high uncertainties at home and abroad. The Bank of Korea made this point in its latest financial stability report, where it also called for close monitoring of real estate market risks and household borrowing, given the recent rise in housing prices in Seoul and the surrounding region. "The Sou
March 27, 2025 -
Govt. to hold emergency meeting on US auto tariffs
The government will hold an emergency meeting with local automotive companies Thursday to discuss the possible impact of the US administration's plan to start imposing auto tariffs next week, the industry ministry said. The meeting, to be chaired by Industry Minister Ahn Duk-geun, will be held later in the day with the attendance of officials from major automobile companies here, according to the Ministry of Trade, Industry and Energy. The planned meeting comes shortly after US President Donald
March 27, 2025 -
FSS chief highlights commitment toward financial stability, market advancement
The head of South Korea's financial regulator vowed Thursday to take preemptive measures to ensure financial stability amid a slew of headwinds, such as high rates and policy shifts by the Trump administration. Lee Bok-hyun, governor of the Financial Supervisory Service, also stressed the need to further develop and promote the local financial market, making it work in tune with the global standards. "Our economy and financial market are surrounded by an array of uncertainties, as well as politi
March 27, 2025 -
Seoul shares open lower on Trump's auto tariff announcement
Seoul shares opened lower Thursday after US President Donald Trump announced his administration will start imposing 25 percent tariffs on all imported cars early next month, a move expected to deal a blow to South Korea's automotive industry. The benchmark Korea Composite Stock Price Index fell 17.01 points, or 0.64 percent, to 2,626.93 in the first 15 minutes of trading. Overnight, major US indexes lost ground, with the tech-heavy Nasdaq composite sliding 2.04 percent, as Nvidia, Tesla and othe
March 27, 2025 -
Korea targets greater foreign appetite for sovereign bonds
Finance Ministry amplifies bond promotion ahead of November’s WGBI inclusion The South Korean government has initiated its first series of online investor relations sessions to attract new foreign investment in its sovereign bonds, while also defending its external credibility amid prevailing uncertainties in domestic and international markets. Second Vice Finance Minister Kim Yoon-sang presided over the virtual meeting, which was held Tuesday and attended by some 130 representatives from asset
March 26, 2025 -
S. Korea likely to face more export uncertainties with US 'reciprocal' tariffs: minister
South Korea is expected to face more uncertainties in trade due to the planned imposition of "reciprocal" tariffs by the Donald Trump administration, the country's trade minister said Wednesday. "Uncertainties surrounding our trade environment have been growing as the new US administration slapped levies on all steel and aluminum imports, as well as derivative products, on March 12 and plans to impose reciprocal tariffs next month," Trade Minister Cheong In-kyo said in a meeting with export-rela
March 26, 2025 -
Watchdog chief urges MBK Partners to share 'pain' over Homeplus fiasco
The chief of the country's financial watchdog called on private equity firm MBK Partners Ltd. to be more responsible for the recent Homeplus fiasco Wednesday. Since last week, the Financial Supervisory Service has been inspecting MBK Partners to look into whether there have been any flaws in the process of the private equity fund-controlled retailer's short-term debt sale and its filing for court rehabilitation. On March 4, Homeplus entered court-led rehabilitation proceedings after two rating a
March 26, 2025