Overheated home market cools off following tightened loan curbs: data

Overheated demand for apartments in Seoul has weakened for the first time in nearly two months following the government's announcement of aggressive loan restrictions last week, data showed Friday. According to the state-run Korea Real Estate Board, the weekly apartment purchase sentiment index for the capital fell to 103.7 as of Monday, down from 104.2 a week earlier, marking the first decline since late April. The index measures the demand to supply ratio in the housing market. A reading above

July 4, 2025

S. Korea's current account surplus widens amid US tariff pressure: BOK

South Korea logged a current account surplus for the 25th consecutive month in May despite falling exports, central bank data showed Friday. The country's current account surplus reached $10.14 billion in May, widening from the previous month's $5.7 billion surplus, according to the data compiled by the Bank of Korea. South Korea has reported a current account surplus every month since May 2023. During the first five months of this year, the cumulative current account surplus stood at $35.11 bil

July 4, 2025

Korea’s slow growth risks credit downgrade: S&P

South Korea’s weakening growth trajectory could eventually impact its sovereign credit rating, according to a senior analyst at S&P Global Ratings. "The Korean economy has been slowing down for various reasons," Kim Eng Tan, managing director of Asia-Pacific sovereign ratings at S&P Global Ratings, said at a press conference held in central Seoul, Wednesday, discussing growth deceleration and rising household debt. The pre

July 2, 2025

Majority of S. Korean firms to maintain investment levels in H2

Nearly 80 percent of South Korea's 120 major companies plan to maintain their investment levels in the second half of the year, similar to those in the first half, amid growing uncertainties in the business environment, a recent survey showed Wednesday. According to the survey released by the Federation of Korean Industries, 78.4 percent of responding companies -- drawn from the country's top 500 firms by sales -- said their domestic investment plans for the second half will remain at first-half

July 2, 2025

BOK flags inflation risks, vows vigilant monitoring

Inflation is projected to remain stable, but uncertainties remain high given the United States' tariff policy, the Middle East situation and seasonal weather conditions, the central bank said Wednesday. Bank of Korea Deputy Gov. Kim Woong made the assessment during a meeting to review inflationary trends, following government data that showed consumer prices gained 2.2 percent from a year earlier in June, logging the steepest on-year increase since January. "The acceleration was due mainly to a

July 2, 2025

Consumer prices rise 2.2% in June on higher industrial goods, service costs

South Korea's consumer prices grew at the 2 percent level in June, mainly driven by higher costs of industrial goods and services, government data showed Wednesday. Consumer prices, a key gauge of inflation, increased 2.2 percent from a year earlier last month, according to the data from Statistics Korea. Inflation had remained above the Bank of Korea's 2 percent target for four consecutive months through April before slightly easing to 1.9 percent in May. The June figure also marked the steepes

July 2, 2025

Stablecoin hype dims BOK’s CBDC ambition

South Korea is poised to take a major step in digital finance with the push for a stablecoin tied to the Korean won. But as enthusiasm for private-led innovation grows, the Bank of Korea’s central bank digital currency project appears to have lost steam. The shift underscores the country’s lack of a coherent roadmap for integrating digital assets into its financial system, even as the transition to digital finance approaches a pivotal moment. The BOK recently notified local banks that the second

July 1, 2025

S. Korea's exports up 4.3% on-year to $59.8b in June on robust chip demand: data

South Korea's exports rose 4.3 percent from a year earlier in June thanks to strong global demand for semiconductors, marking a turnaround from an on-year drop the previous month, government data showed Tuesday. Outbound shipments came to $59.8 billion last month, the highest for any June, according to data compiled by the Ministry of Trade, Industry and Energy, recovering from a 1.3 percent contraction in May. Imports added 3.3 percent on-year to $50.72 billion, resulting in a trade surplus of

July 1, 2025

Korea will run economy like a business: finance minister nominee

South Korea’s finance minister nominee, Koo Yoon-cheol, vowed Sunday to manage the national economy with the rigor of a private company, focusing on return on investment and making government spending more productive. “South Korea must pursue real growth, and that requires a fundamental overhaul,” Koo said during a press briefing shortly after his nomination was announced. “We must run the economy like ‘Corporation Korea,’ where the people are our shareholders.” Koo, tapped as the first minister

June 29, 2025

Economic technocrat-turned-Doosan executive nominated as industry minister

Kim Jung-kwan, a former Finance Ministry official-turned-industry executive, has been nominated to lead South Korea’s Ministry of Trade, Industry and Energy, bringing both government and corporate expertise to the role. President Lee Jae Myung tapped Kim, who currently serves as executive vice president and chief marketing officer at Doosan Enerbility, a major Korean engineering and plant construction company, as the new industry minister. The move is seen as part of Lee’s drive to accelerate th

June 29, 2025

1 in 4 Koreans aged 20–50 invests in crypto

About 1 in 4 Koreans aged 20 to 50 currently holds virtual assets, with the majority of these investors being men in their 30s and 40s working in white-collar jobs, a new report from the Hana Institute of Finance showed Sunday. The report, titled 2050 Generation's Virtual Asset Investment Trends, highlights how investor behavior has evolved from trend-chasing to a more analytical and planned approach. The study shows that aggressive and risk-tolerant individuals are significantly more likely to

June 29, 2025

[Photo News] Tough housing rules to tame debt surge

Apartments in Jung-gu, central Seoul, are seen from Namsan Park on Sunday. The South Korean government on Friday unveiled its first housing regulation under the Lee Jae Myung administration, introducing a new mortgage cap of 600 million won ($440,000) for homes in the Seoul metropolitan area and other regulated zones. The measure aims to rein in household debt amid soaring apartment prices across the capital, extending well beyond the affluent Gangnam district in southern Seoul. (Yonhap)

June 29, 2025

Seoul official notes uncertainty over whether Trump tariff pause will be extended for S. Korea

WASHINGTON -- A senior Seoul official said Friday that it is still uncertain whether US President Donald Trump's pause on "reciprocal" tariffs on South Korea will be extended next month, as the Asian country has highlighted its commitment to "good-faith" trade talks with the United States. The official made the remarks although the Trump administration has signaled an openness to extending the pause on the new tariffs, which is slated to end on July 8. The tariffs, including 25 percent duties on

June 28, 2025

Tightened loan curbs expected to help cool overheated Seoul housing market: experts

The financial authorities' latest measures to restrict ballooning household debt are expected to help cool down the overheated housing market in Seoul's sought-out areas, experts said Friday. The Financial Services Commission announced earlier in the day that all local lenders will be forced to sharply lower their household lending, while home-backed loans for home purchases in the capital area will be capped at 600 million won ($442,000), starting next week. The unprecedented move comes as home

June 27, 2025

Korea weighs SEC-style agency to tackle unfair trading

While South Korea considers an overhaul of its financial regulatory framework, discussions are underway on establishing a consolidated agency to handle unfair financial trading, similar to the US Securities and Exchange Commission model. The presidential state affairs committee, tasked with outlining the Lee Jae Myung administration’s key policy agenda, has stressed the need to integrate existing supervisory bodies to tighten control on unfair trading practices. "The investigation of unfair trad

June 27, 2025