News

FTC chairman nominee outlines vision for updated market system in confirmation hearing

2025/09/05 19:38

Ju Biung-Ghi the nominee to head the Fair Trade Commission has highlighted the importance of an upgrade in the market system. Speaking at his confirmation hearing earlier on this Friday Ju pledged support for innovative companies and stern punishment for those that abuse their power for unfair gain. He claimed the move is necessary for South Korea to compete with advanced economies. Ju also emphasized the need to protect small and medium-sized businesses from technology theft and to ensure fair market conditions for online platforms.

[NEWs GEN] Voluntary Retirement: Why are companies asking young people to leave?

2025/09/05 13:33

[NEWs GEN] Voluntary Retirement: Why are companies asking young people to leave?

STOCK&FX

2025/09/04 22:34

2025. 9. 4. KOREAN STOCK MARKET KOSPI : 3,200.83 ▲16.41 +0.52% KOSDAQ : 805.42 ▲8.61 +1.08% KOSPI200 : 432.32 ▲1.95 +0.45% ASIAN STOCK MARKET NIKKEI225 : 42,580.27 ▲641.38 +1.53% HANG SENG : 25,058.51 ▼284.92 -1.12% SHANGHAI : 3,765.88 ▼47.68 -1.25% WALL STREET (SEP. 3) DOW JONES : 45,271.23 ▼24.58 -0.05% NASDAQ : 21,497.73 ▲218.09 +1.02% S&P500 : 6,448.26 ▲32.72 +0.51% EXCHANGE RATE USD : 1,392.50 (+0.20) JPY : 939.64 (+2.47) CNY : 195.02 (+0.13) EUR : 1,623.45 (+3.44)

Hyundai, Kia report strong performances in the U.S. for August

2025/09/04 19:36

South Korean carmakers saw strong sales in the U.S. market for the second month in a row in August. Hyundai Motor America sold 88-thousand-5-hundred-23 vehicles last month up 12 percent on year and an all-time record for August. Kia America also witnessed a surge in sales with slightly over 83-thousand vehicles up over 10 percent on year and also a monthly record. Electric vehicles drove up the stellar sales of both automakers.

S. Korea logs record current account surplus in July on strong exports

2025/09/04 19:35

South Korea posted its largest current account surplus for the month of July driven by exports. According to the Bank of Korea on this Thursday the country's current account surplus reached 10-point-7-8 billion US dollars in July extending its streak of surpluses for the 27th month in row. The goods account logged a 10-point-2-7 billion dollar surplus for the month as exports rose 2-point-3 percent on year. This was mainly driven by semiconductor shipments overseas which surged over 30 percent on year while those of automobiles also jumped over 6 percent.

Hyundai, Kia report strong performances in the U.S. for August

2025/09/04 11:36

Despite the continued impact of U.S. tariffs, South Korean carmakers Hyundai Motor and Kia recorded strong performances in the U.S. for the second consecutive month in August. Hyundai Motor America reported on Wednesday that its total sales in August reached 88-thousand-523 vehicles, a 12 percent increase compared to the same month last year, and an all-time record for August. Kia America also delivered good news with total sales of 83-thousand-and-7, a 10-point-4 percent increase over August last year, and also setting a new best-ever monthly record. Electric vehicles accounted for the success of both automakers.

S. Korea logs record current account surplus in July on strong exports

2025/09/04 11:35

South Korea posted its largest current account surplus for any July, driven by solid exports. The Bank of Korea said on Thursday that the country's current account surplus reached 10-point-78 billion US dollars in July, extending its streak of surpluses for the 27th consecutive month. The goods account logged a 10-point-27 billion dollar surplus for the month, as exports advanced 2-point-3 percent from the same month last year. This was mainly driven by semiconductor exports, which surged by more than 30 percent year-on-year, while those of automobiles also rose more than 6 percent.

STOCK&FX

2025/09/03 22:44

2025. 9. 3. KOREAN STOCK MARKET KOSPI : 3,184.42 ▲12.07 +0.38% KOSDAQ : 796.81 ▲2.81 +0.35% KOSPI200 : 430.37 ▲2.22 +0.52% ASIAN STOCK MARKET NIKKEI225 : 41,938.89 ▼371.60 -0.88% HANG SENG : 25,343.43 ▼153.12 -0.60% SHANGHAI : 3,813.56 ▼44.57 -1.16% WALL STREET (SEP. 2) DOW JONES : 45,295.81 ▼249.07 -0.55% NASDAQ : 21,279.63 ▼175.92 -0.82% S&P500 : 6,415.54 ▼44.72 -0.69% EXCHANGE RATE USD : 1,392.30 (+1.30) JPY : 937.17 (-2.73) CNY : 194.89 (-0.18) EUR : 1,620.01 (-2.21)

S. Korean economy grows faster than expectations in Q2

2025/09/03 22:38

South Korea's economy registered a rebound of point-7 percent in the second quarter, exceeding initial forecasts. Strong exports and boosted private spending were behind the growth. Our correspondent Moon Ji-young reports. South Korea's economy grew faster than earlier estimated in the second quarter, driven by robust exports and improved private consumption. Preliminary data released by the Bank of Korea on Wednesday revealed that the nation's real gross domestic product, a key economic indicator, grew by 0-point-7 percent quarter-on-quarter in the April to June period this year. This revised figure marks an improvement of 0-point-1 percentage point from the advance estimate made in July. The growth also represents a significant rebound from a contraction experienced in the first quarter. Last week, the central bank upgraded its economic growth forecast for this year to 0-point-9 percent, up from its previous projection of 0-point-8 percent. "If the economy grows around 0.6% on-quarter in the second half, we will be able to achieve 0.9% annual growth." Breaking down the growth drivers, private spending saw a 0-point-5 percent increase, largely due to higher spending on automobiles and health services. Government expenditure also climbed 1-point-2 percent, boosted by increased healthcare benefits. However, construction investment contracted, primarily driven by a decrease in civil engineering projects. Facilities investment also declined due to reduced demand for ships and semiconductor manufacturing equipment. In terms of trade, exports surged by 4-point-5 percent, spurred by strong global demand for semiconductors, and petroleum and chemical products. Imports were also up by 4-point-2 percent. "We expect domestic demand to continue its modest recovery, led by the government's supplementary budget execution and better consumer sentiment. However, while exports showed a favorable trend in July and August, we anticipate growth to gradually slow as the impact of U.S. tariff impositions expands." Meanwhile, the country's gross national income saw a 2 percent increase, with real GNI growing by 1 percent. This was largely due to improved terms of trade, which led to a reduction in real trade losses. Moon Ji-young. Arirang News.

Gov't rolls out plans for supporting companies hit by U.S. tariffs

2025/09/03 19:38

And the Lee administration has announced a framework of financial assistance to aid exporters seeking to navigate higher U.S. tariffs. Our correspondent Kim Do-yeon has details. The South Korean government is expanding its financial support to companies hit by U.S. tariffs. At an economic ministerial meeting on Wednesday, officials announced a comprehensive support package for these companies, including 13.6 trillion won or about 10 billion U.S. dollars in emergency management funds. A record 270 trillion won or 193 billion dollars in trade insurance and credit will also be available to support exporters. "The real race toward economic recovery starts now. The government will sprint without rest. We will respond flawlessly to global trade risks while mobilizing all policy capabilities to push forward with projects to lead the AI and super-innovation economy." In next year's budget proposal, trade issues and export support has been increased to 4.3 trillion won, or just over 3 billion dollars. For sectors affected by tariffs, interest rates on operational funds will be cut further, and lending limits will be raised tenfold. Hard-hit industries like steel and aluminum will receive specialized support, including 570 billion won, or just over 400 million dollars in dedicated financing and emergency allocated tariffs on core raw materials. The Industry Ministry will spearhead the government's on-the-ground response, coordinating across twelve ministries. "Today we have prepared tangible support measures with twelve ministries based on three principles—first, mobilizing all available policy tools; second, an all-out, whole-of-government response; and third, a focus on the needs of companies." This support is critical for the nation's small and medium-sized enterprises as well. A recent government survey found that nearly 63 percent of these companies expect the tariffs to negatively impact their exports. "Export-oriented SMEs expressed strong on-the-ground need for support with logistics costs, policy funds, detailed information, and export market diversification. Reflecting these voices, we have prepared support measures for SMEs in response to the U.S. reciprocal tariffs." Meanwhile, with the Chuseok holiday approaching, the government also announced plans to ease the burden on households. The Deputy Prime Minister stated that "Chuseok Livelihood Stability Measures" will be announced soon. Additionally, a second round of "Livelihood Recovery Consumption Coupons" will be distributed starting from September 22nd. Kim Do-yeon, Arirang News.

S. Korean economy grows faster than expectations in Q2

2025/09/03 19:37

In other news. The South Korean economy expanded 0-point-7 percent on quarter in the second quarter of this year higher than previous projections. Our correspondent Moon Ji-young reports. South Korea's economy grew faster than earlier estimated in the second quarter, driven by robust exports and improved private consumption. Preliminary data released by the Bank of Korea on Wednesday revealed that the nation's real gross domestic product, a key economic indicator, grew by 0-point-7 percent quarter-on-quarter in the April to June period this year. This revised figure marks an improvement of 0-point-1 percentage point from the advance estimate made in July. The growth also represents a significant rebound from a contraction experienced in the first quarter. Last week, the central bank upgraded its economic growth forecast for this year to 0-point-9 percent, up from its previous projection of 0-point-8 percent. "If the economy grows around 0.6% on-quarter in the second half, we will be able to achieve 0.9% annual growth." Breaking down the growth drivers, private spending saw a 0-point-5 percent increase, largely due to higher spending on automobiles and health services. Government expenditure also climbed 1-point-2 percent, boosted by increased healthcare benefits. However, construction investment contracted, primarily driven by a decrease in civil engineering projects. Facilities investment also declined due to reduced demand for ships and semiconductor manufacturing equipment. In terms of trade, exports surged by 4-point-5 percent, spurred by strong global demand for semiconductors, and petroleum and chemical products. Imports were also up by 4-point-2 percent. "We expect domestic demand to continue its modest recovery, led by the government's supplementary budget execution and better consumer sentiment. However, while exports showed a favorable trend in July and August, we anticipate growth to gradually slow as the impact of U.S. tariff impositions expands." Meanwhile, the country's gross national income saw a 2 percent increase, with real GNI growing by 1 percent. This was largely due to improved terms of trade, which led to a reduction in real trade losses. Moon Ji-young. Arirang News.

S. KOREAN EXPORTS RISE 1.3% IN AUGUST ON YEAR

2025/09/03 18:34

Welcome to Wednesday's edition of Press Perspective. It's September THIRD here in Seoul. I'm Min Sunhee. Economy has been at the center of the Lee Jae Myung administration's national agenda this week. For more I have Lee Ji-hoon with Reuters here in the studio. Ji-hoon welcome back. I also have Professor Yang Hee-dong at Ewha Womans University. Professor Yang it's good to have you on. Ji-hoon, let's begin with your coverage for Reuters about Korea's exports for the month of August. Professor Yang, Bloomberg says Korea's exports stayed solid, while the Wall Street Journal says exports slowed. How do you assess South Korea's exports for the month of August? Professor Yang, findings for August also show South Korean shipments to the U.S. and China slumped, while those to Southeast Asia surged. Could export market and product diversification help to offset the impact of U.S. tariffs? And Ji-hoon, for the sake of context, do tell us a bit about the concern raised by the Bank of Korea in light of the 15% U.S. tariffs on South Korean products. Meanwhile, Ji-hoon, as part of efforts to bolster growth, the Lee administration has shared a budget proposal that surpasses 700 trillion won for the first time. Do tell us more about this proposal and its objectives. Professor Yang, generally speaking, what are the risks and rewards of an expansionary fiscal policy? Ji-hoon, some have flagged the growing debt-to-GDP ratio amid the expansion in spending. Do give us the numbers. Professor Yang, simply speaking, what is the debt-to-GDP ratio, and should we be concerned about the rise in South Korea's debt-to-GDP ratio? Ji-hoon, we have some time left, so let's quickly touch upon South Korea's consumer prices, which dropped to a nine-month low in August. Do tell us about this finding and its implications. All right.

STOCK&FX

2025/09/02 22:44

2025. 9. 2. KOREAN STOCK MARKET KOSPI : 3,172.35 ▲29.42 +0.94% KOSDAQ : 794.00 ▲9.00 +1.15% KOSPI200 : 428.15 ▲4.82 +1.14% ASIAN STOCK MARKET NIKKEI225 : 42,310.49 ▲121.70 +0.29% HANG SENG : 25,496.55 ▼120.87 -0.47% SHANGHAI : 3,858.13 ▼17.40 -0.45% WALL STREET (SEP. 1) DOW JONES : CLOSED NASDAQ : CLOSED S&P500 : CLOSED EXCHANGE RATE USD : 1,391.00 (-2.70) JPY : 939.90 (-9.03) CNY : 195.07 (-0.24) EUR : 1,622.22 (-9.85)

Cabinet explores S. Korea's new growth engines in televised discussion

2025/09/02 22:36

Staying at the Presidential Office, President Lee Jae Myung chaired a Cabinet meeting today, where a two-hour discussion on South Korea's new growth engines was aired live. Take a look. The second of President Lee Jae Myung's Cabinet meeting discussions to be broadcast live centered on ways to boost South Korea's economic growth. President Lee opened Tuesday's session by highlighting encouraging figures from the domestic economy. "Industrial output, consumption, and facility investment turned upward in July. Retail sales, directly tied to people's livelihoods, saw the sharpest increase in 29 months, thanks in part to the voucher-style cash handouts. But he also sounded the alarm over the country's weakening potential growth rate, which is already in the upper one percent range and projected to dip to the low one percent range by the end of the decade. "We need a swift, government-wide action plan that mobilizes a proactive fiscal policy and productive finance to support technological innovation, regulatory reform, industrial restructuring, and talent development." That said, the floor was open to the ministers to weigh in on the challenges and possible solutions. "Our economy is under strain from a shrinking workforce, weak investment, and stagnant productivity, driving down growth potential. We've also fallen behind in AI and green transitions, while U.S. tariffs are reshaping global trade, leaving not only smaller firms but even major corporations struggling." The finance minister noted that a significant portion of next year's 7-hundred-28 trillion-won budget will go toward artificial intelligence development. "We'll invest in AI infrastructure to help businesses and universities expand adoption more quickly. At the same time, we'll train top-tier talent, develop a homegrown foundation model, and establish AI innovation hubs in Gwangju and Daegu cities, and Jeollabuk-do and Gyeongsangnam-do provinces." Another focus was adapting to the changing export environment shaped by the Trump administration's sweeping tariffs. "We should focus more on diversifying our export markets wherever possible, giving priority support to companies that develop new markets or new export items." "For example, the Korean Wave has fueled strong demand in related sectors in the Global South. We will work to reduce dependence on the U.S. market and enable our small and mid-sized firms to expand exports in these areas." Tuesday's discussion reflected the president's commitment to prioritize stabilizing people's livelihoods and finding new growth engines following his back-to-back trips to the U.S. and Japan.

[On-point] How S. Korea’s MASGA proposal could transform U.S. shipbuilding industry

2025/09/02 11:36

Economic issues have been central to relations with the United States since Trump’s second term began, and these issues were at the forefront of talks when Presidents Lee and Trump met in Washington last week. As part of a trade deal with Washington to lower tariffs, Seoul committed $350 billion U.S. dollars in investments, with a big chunk of that --$150 billion earmarked for shipbuilding cooperation. For more on this, we're joined by Professor Song Soo-young, Professor at the College of Business and Economics at Chung-Ang University. Professor Song, thanks for joining us this morning. 1. Do you think the shipbuilding partnership can transform and effectively revive the struggling American shipbuilding industry? And do you see the government’s so-called 'Make American Shipbuilding Great Again' project as a win-win for both countries? Can we expect a major deal to be signed on naval shipbuilding? 2. President Lee also visited the Hanwha Philly shipyard on the final day of his U.S. trip, so we could definitely see that the Korean government is focusing on shipbuilding cooperation with Washington. How has the MASGA project impacted Korean shipbuilding companies so far? Some analysts say it could drive growth for at least five years --do you think this momentum will last for a while? 3. Another area of focus was energy cooperation, particularly the Alaska LNG project. President Donald Trump mentioned the U.S. is planning to make a joint venture with South Korea, and that Japan is also very strongly involved. How do you see this affecting Korean companies? 4. In the aviation sector, another major deal was announced during President Lee's U.S. visit, with Korean Air unveiling a $50 billion deal to buy more than 100 Boeing aircraft, along with several spare engines and 20 years of engine maintenance. What's the assessment of that deal? Alright Professor Song. Thank you so much for your insight today. We appreciate it.

S. Korea's consumer prices up 1.7% y/y in Aug., slowest pace in nine months

2025/09/02 11:34

On the domestic economic front. South Korea's consumer prices, a key gauge of inflation, grew at the slowest pace in nine months due to a temporary cut in phone bill costs. Data from Statistics Korea on Tuesday showed that the country's consumer price index rose 1-point-7 percent in August compared to the same month the year before. The agency attributed last month's slowdown to a 13 percent on-year drop in telecommunication fees. In response to a data breach in April, South Korea's largest wireless carrier, SK Telecom, gave users a 50 percent discount on their August bills, leading to a 3-point-6 percent on-year drop in public service fees.

STOCK&FX

2025/09/01 23:45

2025. 9. 1. KOREAN STOCK MARKET KOSPI : 3,142.93 ▼-43.08 -1.35% KOSDAQ : 785.00 ▼-11.91 -1.49% KOSPI200 : 423.33 ▼-6.79 -1.58% ASIAN STOCK MARKET NIKKEI225 : 42,188.79 ▼529.68 -1.24% HANG SENG : 25,617.42 ▲539.80 +2.15% SHANGHAI : 3,875.53 ▲17.60 +0.46% WALL STREET (AUG. 29) DOW JONES : 45,544.88 ▼92.02 -0.20% NASDAQ : 21,455.55 ▼249.60 -1.15% S&P500 : 6,460.26 ▼41.60 -0.64% EXCHANGE RATE USD : 1,393.70 (+3.60) JPY : 948.93 (+3.48) CNY : 195.59 (+0.54) EUR : 1,633.90 (+11.72)

Exports for August hit record high, despite decreases in shipments to U.S., China

2025/09/01 23:38

South Korea's exports maintained their upward momentum in August. Chip exports reached an all-time high. Park Jun-han has the details. Exports reached an all-time high of 58-point-4 billion U.S. dollars for August, up 1-point-3 percent from a year earlier, according to data released on Monday by the Ministry of Trade, Industry and Energy. Among the 15 major products South Korea exports, semiconductors, automobiles and ships recorded year-on-year export increases in August. What stood out the most was semiconductor shipments, which in August reached 15-point-1 billion dollars, up more than 27 percent from the same month last year and surpassing the previous record set in June. The surge in chip exports was attributed to strong demand for high-value memory semiconductors, such as high-bandwidth memory, driven by increased investment in the AI industry, while memory fixed transaction prices also remained favorable. Automobile shipments rose 8-point-6 percent to 5-point-5 billion dollars, despite a decline in U.S. shipments, due to the tariffs it has imposed. The increase was driven by growth in alternative markets such as Europe and the Commonwealth of Independent States. This marks the highest August performance on record and extends the growth trend to three consecutive months. Ship exports rose about 12 percent to over 3-point-1 billion dollars, marking six consecutive months of growth as deliveries continued for vessels ordered at high prices in 2022 and 2023. By region, exports saw growth in three of nine major trading regions. Although shipments to the United States and China saw a decrease of 12 percent and 2-point-9 percent, respectively, exports to regions such as ASEAN member states and the Commonwealth of Independent States saw an increase of over at least 9 percent. "Given that exports account for a significant portion of South Korea's economy, the prospect of slower growth due to U.S.-China tensions was quite concerning. However, the overall increase in exports, despite the decline in shipments to the U.S. and China, is definitely a positive sign." Industry Minister Kim Jung-kwan commented that the three months of steady export growth reflect the competitiveness and determination of South Korean companies, even under challenging conditions such as the U.S. tariffs. Kim added that the government will announce and implement support measures in early September to minimize the impact of U.S. tariffs. Park Jun-han, Arirang News.

Exports for August hit record high, despite decreases in shipments to U.S., China

2025/09/01 19:36

On the trade front. South Korea's exports maintained their upward momentum in August. Our correspondent Park Jun-han covers the latest numbers. Exports reached an all-time high of 58-point-4 billion U.S. dollars for August, up 1-point-3 percent from a year earlier, according to data released on Monday by the Ministry of Trade, Industry and Energy. Among the 15 major products South Korea exports, semiconductors, automobiles and ships recorded year-on-year export increases in August. What stood out the most was semiconductor shipments, which in August reached 15-point-1 billion dollars, up more than 27 percent from the same month last year and surpassing the previous record set in June. The surge in chip exports was attributed to strong demand for high-value memory semiconductors, such as high-bandwidth memory, driven by increased investment in the AI industry, while memory fixed transaction prices also remained favorable. Automobile shipments rose 8-point-6 percent to 5-point-5 billion dollars, despite a decline in U.S. shipments, due to the tariffs it has imposed. The increase was driven by growth in alternative markets such as Europe and the Commonwealth of Independent States. This marks the highest August performance on record and extends the growth trend to three consecutive months. Ship exports rose about 12 percent to over 3-point-1 billion dollars, marking six consecutive months of growth as deliveries continued for vessels ordered at high prices in 2022 and 2023. By region, exports saw growth in three of nine major trading regions. Although shipments to the United States and China saw a decrease of 12 percent and 2-point-9 percent, respectively, exports to regions such as ASEAN member states and the Commonwealth of Independent States saw an increase of over at least 9 percent. "Given that exports account for a significant portion of South Korea's economy, the prospect of slower growth due to U.S.-China tensions was quite concerning. However, the overall increase in exports, despite the decline in shipments to the U.S. and China, is definitely a positive sign." Industry Minister Kim Jung-kwan commented that the three months of steady export growth reflect the competitiveness and determination of South Korean companies, even under challenging conditions such as the U.S. tariffs. Kim added that the government will announce and implement support measures in early September to minimize the impact of U.S. tariffs. Park Jun-han, Arirang News.

STOCK&FX

2025/08/29 23:43

2025. 8. 29. KOREAN STOCK MARKET KOSPI : 3,186.01 ▼10.31 -0.32% KOSDAQ : 796.91 ▼1.52 -0.19% KOSPI200 : 430.12 ▼1.69 -0.39% ASIAN STOCK MARKET NIKKEI225 : 42,718.47 ▼110.32 -0.26% HANG SENG : 25,077.62 ▲78.80 +0.32% SHANGHAI : 3,857.93 ▲14.33 +0.37% WALL STREET (AUG. 28) DOW JONES : 45,636.90 ▲71.67 +0.16% NASDAQ : 21,705.16 ▲115.01 +0.53% S&P500 : 6,501.86 ▲20.46 +0.32% EXCHANGE RATE USD : 1,390.10 (+2.50) JPY : 945.45 (+2.63) CNY : 195.05 (+0.90) EUR : 1,622.18 (+7.08)