Won nears 1,400 after sharpest swings since financial crisis

The South Korean won is on its way to breaking past the 1,400-per-dollar mark after weakening to 1,550 in just over a month, underscoring the currency’s sharpest volatility since the global financial crisis. During trading late last week, the won strengthened to 1,407.3 per dollar, the strongest level recorded against the US currency since Oct. 2, 2025, when the won stood at 1,399.5. If the currency strengthens by roughly 10 won, the exchange rate will be pushed into the 1,300-won range for the

2026-08-10 15:05:18:00

Investors unlikely to go 'all-in' even if Kospi rally resumes: Bloomberg analyst

South Korean investors are unlikely to repeat excessive leverage use after experiencing a severe unwinding of leveraged positions — even if the benchmark Kospi resumes its rally, a Bloomberg Intelligence analyst said. Rena Kwok, a senior credit analyst at Bloomberg Intelligence, projected leveraging would not be as "severe" as the first half of this year, even if the market regains its upward momentum, in a recent online interview with The Korea Herald. "Some investors were overly bullish and to

2026-08-09 15:01:28:00

Korea’s ETF curbs push leveraged trading overseas

South Korean investors are moving into US leveraged ETFs after tighter domestic rules pushed them away, raising questions over whether efforts to curb speculative trading are shifting risk-taking activity overseas. Trading in locally listed single-stock leveraged and inverse ETFs plunged following financial regulators' introduction of tighter measures on single-stock leveraged ETFs, according to data from the Korea Exchange. The combined trading value of the 16 single-stock leveraged and inverse

2026-08-06 15:08:47:00

Lotte Card, Osstem controversies deepen scrutiny of MBK

MBK Partners is facing growing scrutiny over its management of portfolio companies, as controversies spread from Homeplus’ court-led rehabilitation to a business suspension at Lotte Card and workforce restructuring at Osstem Implant. Critics say the incidents raise questions about governance and internal controls at MBK-controlled businesses, as well as whether cost-cutting and investment recovery are being prioritized over long-term corporate value. The Financial Services Commission on Friday f

2026-08-05 11:20:51:00

US-Japan yen intervention raises hopes for stronger won

A rare US-Japan intervention to support the battered yen is giving the Korean won a renewed tailwind, raising hopes that the currency could return to the 1,300-won-per-dollar range. Policymakers confirmed Monday that the US Treasury bought yen in coordination with Japan’s Finance Ministry, marking the first joint intervention to support the Japanese currency since 1998. The move quickly spilled over into the won, which investors often trade as a proxy for the yen because the two currencies tend

2026-08-04 15:03:47:00

How leveraged chip ETFs magnified Korea’s market swings

Earlier this year, South Korea emerged as the world's best-performing stock market as an artificial intelligence-driven memory chip boom propelled the country's top chipmakers Samsung Electronics and SK hynix to record highs. The chip rally, however, quickly unraveled as investors grew concerned that Big Tech companies would scale back AI infrastructure spending. The two chip giants have since fallen more than 30 percent from their peaks, dragging down the benchmark Kospi. Yet what stood out was

2026-07-29 14:49:01:00

Homeplus bond probe closes in on MBK leadership

Prosecutors on Monday summoned MBK Partners Vice Chairman and Homeplus co-CEO Kim Kwang-il, stepping up their investigation into the private equity firm’s alleged role in the retailer’s financial crisis. The Seoul Central District Prosecutors’ Office questioned Kim as a suspect over alleged fraud under the Act on the Aggravated Punishment of Specific Economic Crimes and violations of the Capital Markets Act. It was his second appearance before prosecutors, following his first questioning Friday.

2026-07-27 15:52:22:00

How will Chey Tae-won pay his W944b divorce bill?

SK Group Chairman Chey Tae-won's nearly 1 trillion won ($685 million) divorce case has shifted investor attention to SK Group shares as markets assess how he will finance the record settlement while maintaining his grip on the energy-to-chip conglomerate. The Seoul High Court on Friday ordered Chey to pay 944 billion won to his former wife Roh Soh-yeong in the country's largest-ever divorce settlement, ending a yearslong legal battle. With the order stating the settlement to be paid in cash rath

2026-07-26 14:49:04:00

Chip boom lifts Korea's income growth to 38-year high

South Korea's economy extended its growth in the second quarter, weathering oil price volatility sparked by conflict in the Middle East, as robust chip exports fueled the expansion. According to preliminary data released by the Bank of Korea on Thursday, the country's real gross domestic product — a key gauge of economic growth — expanded 0.6 percent in the April-June period from the previous quarter, following a revised growth of 1.8 percent in the first months of this year. "Although (gross d

2026-07-23 14:49:54:00

Mirae Asset boosts Korbit stake to over 97%

Mirae Asset Consulting, an affiliate of Mirae Asset Financial Group that oversees the group's hotel and golf course businesses, is set to boost its planned ownership of cryptocurrency exchange Korbit to 97 percent from 92 percent. According to a revised regulatory filing on Tuesday, Mirae Asset Consulting is set to purchase an additional 1.59 million Korbit shares for 7.89 billion won ($5.32 million). The transaction follows a decision by a corporate shareholder to sell its remaining stake in Ko

2026-07-22 14:36:51:00