Consumer prices rise over 3% for 2nd month in March

South Korea's inflation stayed over 3 percent for the second consecutive month in March on record prices of fruits and rising global oil prices, data showed Tuesday. Consumer prices, a key gauge of inflation, rose 3.1 percent on-year last month, following a 3.2 percent increase the previous month, according to the data from Statistics Korea. In January, inflation fell below 3 percent for the first time since July 2023, but high prices of fruits, farm produce and energy have caused inflation

April 2, 2024

Exports rise for 6th straight month in March

South Korea's exports moved up for the sixth consecutive month in March on the back of the robust performance of chips, data showed Monday. Outbound shipments gained 3.1 percent on-year to $56.5 billion last month, according to the data compiled by the Ministry of Trade, Industry and Energy. Imports decreased 12.3 percent on-year to $52.2 billion last month, resulting in a trade surplus of $4.28 billion. South Korea has been maintaining a trade surplus for 10 consecutive months. By sector,

April 1, 2024

[Hello India] Korean investment firms push into India amid China decline

More South Korean securities and investment firms are turning their eyes to the Indian market, exploring opportunities to tap the world's fastest-growing economy. NH Investment & Securities recently announced a partnership with Lighthouse Canton, a Singapore-based global asset management institution, as part of this trend. In January, NH Absolute Return Partners, a Singapore-based asset management company owned by NH Investment & Securities, signed a memorandum of understanding to c

March 31, 2024

March inflation estimated to reach 3.2 %

South Korea's consumer prices increase is estimated to stay above 3 percent for the second month in March on energy price and foreign exchange variables, market reports showed Sunday. The country's March inflation outlooks estimated by eight securities firms, including NH Investment & Securities, Kyobo Securities, Meritz Securities and DB Financial Investment, averaged at 3.2 percent. In January, inflation fell below 3 percent for the first time since July 2023, when the figure cam

March 31, 2024

Industrial output rises for 4th month; retail sales fall in February

South Korea's industrial output rose for the fourth consecutive month in February on the back of increasing semiconductor production, but retail sales fell amid high inflation, data showed Friday. Industrial output increased 1.3 percent on-month last month, following a 0.4 percent rise the previous month, according to the data compiled by Statistics Korea. Industrial production has been on a constant increase since December. Last month's growth came as the output in the overall mining

March 29, 2024

FSS chief vows to boost Korea's attractiveness to investors

Lee Bok-hyun, head of South Korea's Financial Supervisory Service, pledged Thursday to promote "sound and fair finance," aiming to enhance the country's allure as an investment destination for foreign investors. Lee addressed officials from global financial firms and foreign diplomats during the annual "FSS Speaks" forum held in Seoul under the theme "toward sound and fair finance." "In striving for this objective, we aim to cultivate market practices

March 28, 2024

Korea misses out on global bond index boost

Korea failed to join the World Government Bond Index, a global benchmark that measures the performance of sovereign bonds, but it remains hopeful as the index provider gave a positive evaluation of its latest efforts to improve market accessibility. The WGBI, managed by Financial Times Stock Exchange Russell, is one of the three major government bond indices along with the Bloomberg-Barclays Global Aggregate Index and JP Morgan Government Bond Index-Emerging Markets. It is tracked by global fund

March 28, 2024

New parents to get greater chance at buying home

Housing supply measures, encompassing both the public and private sectors, revised to favor households with newborns came into effect Monday, with the intention to lower the burden of high housing costs as one of the factors pulling down the country’s fertility rate to the world's lowest level. Starting from Monday, households with a child younger than 2 years old, including those with an adopted child or expectant mother, will be eligible to apply for a specialized and prioritized ho

March 25, 2024

Korea sighs in relief on US Fed's dovish signal

While the possibility of the US Federal Reserve cutting its base rate three times this year has sent Seoul shares higher, the Bank of Korea is likely to start bringing down its key rate in July, experts viewed. Through a two-day Federal Open Market Committee meeting, the US Fed maintained its benchmark lending rate to stand in the 5.25-5.5 percent range. Though the rate freeze had been expected by the market, the global stock market, including that of Korea, rallied as the Fed stuck to its dovis

March 21, 2024

Yoon vows to improve conditions for family business succession

President Yoon Suk Yeol vowed Wednesday to improve the conditions for family business successions as he lamented local conglomerates' reluctance to grow their value out of fear of having to pay a larger inheritance tax. Yoon made the promise during a special lecture marking the 51st Commerce & Industry Day in front of some 1,000 people, including the chief executives of large family-run conglomerates, such as Samsung Electronics, Hyundai Motor Group and LG Group. "Many companies

March 20, 2024

Japan's historic rate pivot won't roil Korea: experts

The Bank of Japan's first interest rate hike in almost two decades has rattled the global economy, yet it may not have as much of an impact in South Korea, at least not for a while. The central bank of Japan on Tuesday announced it is lifting its short-term policy rate to a range of 0 to 0.1 percent from minus 0.1 percent, stepping away from the negative interest rate policy it had been applying since 2016 to fight chronic deflation. It also marked the central bank's first interest rat

March 20, 2024

[Contribution] Don’t just wait for the lucky dragon

By Marc Van de Walle A New Year is always a time to reflect on the previous year, what we might learn from it and then apply these learnings going forward. What better time for reflection than now, as we usher in the Year of the Dragon, considered one of the most auspicious creatures in the Chinese zodiac. The mythical Dragon symbolizes power, wisdom, strength, and good fortune. From an investment perspective, however, there is more you can do than wait to tap on the Dragon’s luck. Last ye

March 20, 2024

Korea pledges W452tr in climate finance until 2030

The South Korean government and local banks on Tuesday pledged to jointly invest 452 trillion won ($337.4 billion) until 2030 to tackle the climate crisis. The move aligns with the country's intensified efforts to achieve carbon neutrality by 2050 and bolster domestic firms' competitive edge in overseas markets. "This unprecedented climate crisis we face today demands action not only to enhance our companies' competitiveness but also for the generations to come," said Ki

March 19, 2024

New marriages bounce back buoyed by international couples

One in 10 couples who tied the knot in South Korea last year included a partner of foreign nationality. The growing number of international marriages helped the total number of newly married couples last year to rebound for the first time in 12 years. The number of international marriages stood at 19,700 in 2023, taking up 10.2 percent of the total number of newlywed couples -- 193,700 -- tallied last year, according to Statistics Korea on Tuesday. The number of international marriages grew by 1

March 19, 2024

S. Korea to provide W420tr in policy loans for carbon emission reduction by 2030

South Korea's financial regulator unveiled an ambitious plan Tuesday to provide 420 trillion won ($315 billion) in policy loans by 2030 to help reduce greenhouse gas emissions. Seoul has pledged to reduce its greenhouse gas emissions by 37 percent from business-as-usual levels. "There exist concerns that the global competitiveness of our exporters may dwindle should we fail to take appropriate steps to meet the increasing emissions-related regulations in other countries," the Fina

March 19, 2024

Trump unlikely to unravel IRA: experts

Korean businesses are unlikely to face a massive challenge by possible shift in US trade policies resulting from the 2024 US presidential election but they should get ready for small hiccups, experts on international trade said on Monday. “From the US perspective, Korean companies are very important partners in trade and investment. … Since the Korea-US Free Trade Agreement has been revised in a way that satisfies US constituencies, there may be hiccups (in the trade relationship) a

March 18, 2024

S. Korea, OECD hold conference on 'digital finance'

South Korea and the Organization for Economic Cooperation and Development opened a joint conference in Seoul on Monday to discuss ways to help Southeast Asian countries develop and transform their financial systems. The conference will be held for two days and discuss potential problems arising from the digitalization of financial systems in the Association of Southeast Asian Nations member countries and ways to address them, according to South Korea's financial regulator, the Financial Ser

March 18, 2024

Finance stocks rally despite ELS woes

Despite internal setbacks, South Korean finance giants are forging ahead with a robust rally in the local stock market, as several companies reach historic highs. The share prices of KB Financial Co. and Hana Financial Co., two of the nation's biggest finance holding firms, soared to unprecedented levels Thursday. KB Financial's shares hit 78,600 won ($59) after three consecutive days of record-setting gains, while Hana's reached 64,600 won. Shinhan Financial Co.'s shares als

March 17, 2024

Rising exports lead economic recovery despite weak domestic demand: finance ministry

The South Korean economy has been on a recovery track on the solid growth of exports, but disparities among sectors remain wide amid weak consumption and investment, the finance ministry said Friday. "As shown in manufacturing production and exports, the country has seen an economic recovery and a stable job market," the Ministry of Economy and Finance said in the Green Book, its monthly economic assessment report. "But the pace of recovery among sectors has been different as priv

March 15, 2024

Industry minister asks petroleum firms to avoid price hike

Industry Minister Ahn Duk-geun on Thursday asked petroleum companies to refrain from increasing the prices of their products amid lingering inflation and external uncertainties. The remark came as global oil prices continued to remain volatile due to the prolonged war between Russia and Ukraine, along with the geopolitical instability in the Middle East. "The government is prioritizing taming inflation as the top task for the economy and is currently utilizing all available measures to stab

March 14, 2024