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S. Korea's exports down 2.2 % in first 20 days of July amid US tariff concerns
South Korea's exports shrank 2.2 percent from a year earlier in the first 20 days of this month, data showed Monday, due in part to weaker shipments to the United States and China amid persistent uncertainties over US tariff policies. Outbound shipments reached $36.1 billion in the July 1-20 period, compared with $36.9 billion tallied over the same period last year, according to the data from the Korea Customs Service. Imports decreased 4.3 percent on-year to $35.6 billion during the period, res
July 21, 2025 -
Foreign ownership of Samsung Electronics tops 50% again
Foreign ownership of Samsung Electronics Co. has climbed back above 50 percent in the South Korean stock market, while retail investors favored SK hynix Co. this month, the main bourse said Sunday. In the first three weeks of this month through Friday, foreign investors bought a net 1.877 trillion won ($1.34 billion) worth of Samsung Electronics shares, more than double their net buying of 713 billion won for all of last month, according to the Korea Exchange (KRX). As of Friday, foreigners held
July 20, 2025 -
South Korea’s student loan debt tops W2tr as youth unemployment deepens
Young South Koreans are borrowing more money than ever for college, while their chances of landing a stable job grow slimmer. New data from the Korea Student Aid Foundation reveals that student loan borrowing surged to 2.11 trillion won ($1.44 billion) in 2024, the highest figure in nine years. This marks an 11 percent jump from the previous year’s total of 1.89 trillion won. The last time borrowing exceeded 2 trillion won was in 2015. The spike comes as job opportunities for young people are dr
July 18, 2025 -
New science minister pledges to make Korea AI powerhouse
Science and ICT Minister Bae Kyung-hoon officially began his tenure on Thursday, becoming the first Cabinet minister to take office under the Lee Jae Myung administration. In his inaugural speech at Sejong Government Complex, Bae pledged to lead a national transformation powered by artificial intelligence and advanced science and technology. “The future of our nation will depend on how we design strategies and respond to the coming wave of innovation and change,” he said. Bae is one of Korea’s l
July 17, 2025 -
Relief for 12 million workers: Credit card tax break set for extension
Korea's ruling party may extend a popular tax deduction that has long served as an “extra paycheck” for over 12 million workers to prevent further weakening of private consumption. The government’s key decision-making body, the State Affairs Planning Committee, is expected to soon decide on the fate of 72 tax exemption programs scheduled to expire this year, totaling approximately 19 trillion won ($13.7 billion). Among these is the widely used credit card deduction, introduced in 1999 and extend
July 17, 2025 -
More pricey apartment deals canceled after loan restriction
The percentage of canceled sales on apartments worth more than 1 billion won ($720,500) in Seoul, Incheon and Gyeonggi Province has increased since June 27, when the Lee Jae Myung administration imposed a 600 million won cap on home-backed loans to rein in housing prices. According to a report by mobile-based real estate brokerage service Ziptoss, 35 percent of all apartment deals exceeding 1 billion won were canceled after the regulation was announced. The cancellation rate was already substant
July 16, 2025 -
Power struggle over reforms rattles Korea’s financial agencies
The Lee Jae Myung government's sweeping organizational reforms across Korea’s financial and economic agencies are extending into lengthy and complex negotiations, testing the administration's ability to balance and delineate agency roles. While discussions continue on reallocating responsibilities among key institutions including the Ministry of Economy and Finance, the Financial Services Commission and the Financial Supervisory Service, progress has been sluggish in filling top leadership posit
July 15, 2025 -
Container shipping costs to US rise in June amid trade growth
Container shipping costs from South Korea to the United States sharply went up last month, as trade volume to the country increased despite Washington's sweeping tariff policies, the customs agency said Tuesday. The average shipping cost for a 40-foot container from South Korea to the US west coast increased 16.6 percent from a month earlier to 6.09 million won ($4,395) in June, according to data from the Korea Customs Service. Shipping rates to the US east coast climbed 23.3 percent to 6.77 mil
July 15, 2025 -
Korea mulls formal role for secretive F4 policy talks
South Korea is poised to transform its clandestine macroeconomic and financial meetings involving top policymakers into a transparent, institutionalized body, sparking debates over the potential implications for decision-making agility and crisis response capabilities. According to sources on Monday, the government, through State Affairs Planning Committee, is proposing to establish a formal legal framework that would explicitly define the purpose, roles and responsibilities of the so-called F4
July 14, 2025 -
S. Korea's ICT exports rise 5.8% in H1 on global chip demand
South Korea's exports of information and communication technology products rose 5.8 percent in the first half from a year earlier, driven by robust semiconductor sales amid growing demand for data centers, government data showed Monday. Outbound shipments of ICT products reached US$115.16 billion in the January-June period, up from $108.83 billion a year earlier, the Ministry of Science and ICT said in a press release. ICT imports rose 5 percent on-year to $70.92 billion in the first six months,
July 14, 2025 -
Transactions of high-end apartments in Seoul double on-year in H1
The number of transactions involving Seoul apartments worth at least 2.6 billion won ($1.88 million) from January to July has more than doubled compared to the same period last year, data from a local real estate research firm showed Sunday. There were 3,424 sales of apartment units above this threshold in the first half of 2025, compared to just 1,467 in the first half of 2024, according to the data by Real Today. About 73.8 percent of the transactions involving apartments worth 2.6 billion won
July 13, 2025 -
Some conglomerates pay dividends to controlling families through unlisted firms
Some family members of South Korean conglomerates have received large dividends from unlisted affiliates, despite a broader economic slowdown driven by political instability and concerns over US tariffs, financial data showed Sunday. According to audit reports posted on the electronic disclosure system by the Financial Supervisory Service, Samyang International Co., an unlisted affiliate of GS Group engaged in golf and tobacco retail, paid out a total of 10 billion won ($7.25 million) in dividen
July 13, 2025 -
Household loans by major banks rise in July, but growth pace slows down
Household loans extended by five major banks in South Korea rose in the first 10 days of this month, but the pace of growth slowed sharply amid the government's stepped-up efforts to rein in household debt. Outstanding household loans extended by the five major commercials banks here, including KB Kookmin Bank and Shinhan Bank, stood at 755.7 trillion won ($547.8 billion) as of Thursday, up 891.2 billion won from the end of June, according to the data. This translates to a daily increase of 89.1
July 13, 2025 -
OECD leading index for S. Korea rises for 7th month in June
A leading economic index for South Korea rose for the seventh consecutive month in June, reaching its highest level in three years and seven months, data showed Sunday, amid easing political uncertainty and expectations for government stimulus. The composite leading indicator of economic activity for South Korea came to 101.08 for June, up from 100.97 a month earlier, according to the data from the Organization for Economic Cooperation and Development. It marked the highest reading since Novembe
July 13, 2025 -
Mirae Asset’s Tiger S&P 500 ETF becomes Korea’s largest by net assets
Mirae Asset Global Investments said Friday that its flagship Tiger US S&P 500 exchange-traded fund has become the largest ETF by net assets listed in South Korea — the first time in the country's 23-year ETF history that a fund centered on overseas equities has claimed the top spot. According to data from the Korea Exchange, the S&P 500 ETF's net assets stood at 8.54 trillion won ($6.21 billion) as of Thursday. Buoyed by strong interest from retail investors, the fund has ranked first in net pur
July 11, 2025