News

Stock

2025/07/04 22:40

2025. 7. 4. KOREAN STOCK MARKET KOSPI : 3,054.28 ▼-61.99 -1.99% KOSDAQ : 775.80 ▼-17.53 -2.21% KOSPI200 : 412.74 ▼-8.20 -1.95% ASIAN STOCK MARKET NIKKEI225 : 39,810.88 ▲24.98 +0.06% HANG SENG : 23,916.06 ▼153.88 -0.64% SHANGHAI : 3,472.32 ▲11.16 +0.32% WALL STREET (July 3) DOW JONES : 44,828.53 ▲344.11 +0.77% NASDAQ : 20,601.10 ▲207.97 +1.02% S&P500 : 6,279.35 ▲51.93 +0.83% EXCHANGE RATE USD : 1,362.30 (+2.90) JPY : 944.24 (-0.48) CNY : 190.20 (+0.39) EUR : 1,604.65 (+0.97)

Current account posts surplus for 25th straight month, but ‘impact of U.S. tariffs beginning to show'

2025/07/04 22:35

The central bank said on Friday that both South Korea's exports and imports are declining — but with inbound shipments dropping more sharply, the current account stayed in surplus. However, exports are expected to take a bigger hit soon when new tariffs kick in. Our Kim Do-yeon reports. South Korea's current account remained in the black in May for the twenty-fifth consecutive month logging a current account surplus of ten-point-one billion U.S. dollars. According to the Bank of Korea on Friday, the figure is nearly double that recorded in April possibly due to a slower rise in oil prices and the reduced imports. The central bank added that while this was the third-largest surplus on record for the month of May, exports fell for the first time in four months as autos and steel struggled under U.S. tariffs. The goods account surplus widened from the previous month, as imports decreased more sharply — due to falling oil prices — than exports, which saw declines mainly in non-IT products. Specifically the goods account recorded a 10.66 billion dollar surplus, although exports decreased by 2.9% to 56.93 billion dollars, as imports decreased by a larger margin of 7.2% to 46.27 billion dollars, compared to last year. When both decline it could be a sign of recession, but the BOK explained that this was not a domestic issue. Regarding the falling exports, when U.S. tariffs come into effect, the results will be clearer, especially with certain export items that South Korea relies on. "In the case of automobiles, the impact is expected to become more pronounced in the second half of the year. As local production expands, exports from Korea to the U.S. could decline to some extent." Meanwhile from January to May this year, the cumulative current account surplus stood at 35-point-11 billion dollars, up eight-point-0-5 billion dollars from the same period last year. Kim Do-yeon, Arirang News.

Pres. Lee’s economic sprint: early gains, but big tasks ahead

2025/07/04 21:34

Welcome to Within The Frame, where we bring the most pressing issues across the globe into focus. I'm Kim Mok-yeon. President Lee Jae Myung's first month in office has been defined by urgency and action. On day one, he chaired an emergency economic task force, pushed through a multi-trillion-won supplementary budget, and laid the groundwork for structural reforms. Early indicators point to regained market confidence—consumer sentiment is up, and the KOSPI crossed the 3,000 mark for the first time in over three years. But external pressure is mounting. President Trump has announced the U.S. will begin sending tariff rate letters to countries starting July 4th, warning that those without finalized deals by the 8th will face higher duties. With Korea still in talks, it's a critical test for the administration's trade strategy. In our fourth installment to mark one month of the Lee Jae Myung presidency, we turn to the economy—how the administration is responding to public anxiety, and what early moves signal about its broader economic direction. To help us break things down, we're joined by Jin-ill Kim, Professor of Economics at Korea University. Welcome. Also joining us online is Hwagyun Kim, Professor of Banking and Finance at Texas A&M University's Mays Business School. Good to see you. (Jin-ill Kim) President Lee's first month has been a blitz—emergency meetings on day one, a budget passed in two weeks. How do you assess this fast-paced approach? (Hwagyun Kim) Building on that momentum—at his one-month press conference, President Lee pointed to the KOSPI's rally as one of the administration's early wins. Just two weeks in, the index broke through the 3,000 mark for the first time in three and a half years. What message did this send to the financial markets, and how have they responded overall? (Jinill Kim) And it's not just the stock market reacting—consumer sentiment in June hit a four-year high. From what you've seen, Prof. Jin-ill, does this indicate that households are starting to believe in an economic rebound? (Jinill Kim) Turning to appointments, key Cabinet nominations, including the Finance Minister, have been announced. Within this new economic control tower, what stands out most to you? (Hwagyun Kim) On the global front, tariff negotiations with the U.S. remain President Lee's biggest diplomatic and economic hurdle. President Trump has announced that starting as early as July 4th, the U.S. will begin sending official letters to countries, detailing the tariff rates they will face. Against this backdrop, what is expected for South Korea? Prof. Hwagyun, And, how should Korea interpret Washington's latest move? (Jinill Kim) And now, with the U.S. moving to send out tariff notices as early as this weekend, Korea's top trade negotiator Yeo Han-koo is heading to Washington, promising fair terms. Prof. Jin-ill, What kind of strategy is needed now to avoid those higher tariffs? (Hwagyun Kim) Meanwhile, even as tariff tensions rise, Korea posted record June exports, up more than 4%, powered by semiconductors and autos. What's driving this export rebound in the face of mounting U.S. trade pressure? (Hwagyun Kim) Finally, looking further ahead—President Lee has vowed to modernize Korea's capital markets and usher in a new KOSPI 5000 era. In your view, how feasible is this goal, and what concrete steps are needed to get there?

S. Korea's chief trade negotiator heads to Washington amid looming tariff deadline

2025/07/04 19:36

On the trade front. South Korea's top trade delegate is heading back to the U.S for talks ahead of next week's deadline on the pause in country-specific tariffs. Our Moon Ji-young covers the upcoming trip. With just days left before the temporary halt on tariffs expires, South Korea's chief trade negotiator, Yeo Han-koo , is making his second visit to the United States within a week for high-level trade negotiations. He is set to meet with U.S. officials, including U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick, in Washington this weekend. This marks a swift follow-up to his previous talks last week, during which he emphasized Seoul's commitment to "good-faith" trade discussions with the Trump administration. Speaking at a plenary session of the National Assembly on Friday, Yeo indicated that he would actively consider requesting an extension from the U.S. side, depending on the progress of the negotiations. He further articulated South Korea's negotiating stance: "We will conduct negotiations pragmatically, prioritizing national interests, with the aim of reaching a mutually beneficial agreement between South Korea and the U.S. Our goal is to pursue a complete exemption from reciprocal tariffs and all product-specific tariffs, ensuring that we are at least not disadvantaged compared to competitor nations. Furthermore, in the industrial and energy sectors, we will establish a strategic cooperative relationship between our two countries." This comes amid growing tariff pressure from the U.S. "We're going to start sending letters out to various countries, starting tomorrow. We'll probably have 10 or 12 go out tomorrow. And over the next few days, I think by the ninth, they'll be fully covered and they'll range in value from maybe 60 or 70% tariffs to 10 and 20% tariffs." Yeo stated that high-level and working-level negotiations would be conducted intensively to swiftly conclude the talks, thereby leaving open the possibility of additional negotiations. Moon Ji-young, Arirang News.

Current account posts surplus for 25th straight month, but ‘impact of U.S. tariffs beginning to show'

2025/07/04 19:35

South Korea's current account remained in positive territory in May extending its unbroken surplus streak that began 25 months ago but this trend is forecast to change once U.S. tariffs take root. Our correspondent Kim Do-yeon reports. South Korea's current account remained in the black in May for the twenty-fifth consecutive month logging a current account surplus of ten-point-one billion U.S. dollars. According to the Bank of Korea on Friday, the figure is nearly double that recorded in April possibly due to a slower rise in oil prices and the reduced imports. The central bank added that while this was the third-largest surplus on record for the month of May, exports fell for the first time in four months as autos and steel struggled under U.S. tariffs. The goods account surplus widened from the previous month, as imports decreased more sharply — due to falling oil prices — than exports, which saw declines mainly in non-IT products. Specifically the goods account recorded a 10.66 billion dollar surplus, although exports decreased by 2.9% to 56.93 billion dollars, as imports decreased by a larger margin of 7.2% to 46.27 billion dollars, compared to last year. When both decline it could be a sign of recession, but the BOK explained that this was not a domestic issue. Regarding the falling exports, when U.S. tariffs come into effect, the results will be clearer, especially with certain export items that South Korea relies on. "In the case of automobiles, the impact is expected to become more pronounced in the second half of the year. As local production expands, exports from Korea to the U.S. could decline to some extent." Meanwhile from January to May this year, the cumulative current account surplus stood at 35-point-11 billion dollars, up eight-point-0-5 billion dollars from the same period last year. Kim Do-yeon, Arirang News.

How will Commercial Act changes impact South Korea’s stock market?

2025/07/04 19:34

Also at the parliament. Earlier on Thursday lawmakers passed a revision to the Commercial Act in a move that broadly seeks to bolster Korea's corporate market valuations. Our correspondent Park Jun-han explains. Listed companies in South Korea will now have to be more cautious when making important decisions. This comes after the revision of the Commercial Act was passed in the National Assembly on Thursday. The amendment was one of President Lee Jae Myung's core economic pledges that he had consistently made. One of the key changes in the bill is the expansion of the “Duty of Loyalty” — from serving the company to also serving its shareholders. This means corporate directors must now consider the interests of minority shareholders when making decisions. An economic expert projected that the asset market will regain momentum as the policy changes will boost individual investor sentiment. "This is seen as a positive move for market development, as it encourages minority shareholders who were previously deterred by weak protections. The revision also introduces civil and criminal liability for directors in cases of conflict between controlling and minority shareholders." Also, the “Three Percent Rule” limits the combined voting rights of a listed company’s largest shareholder and related parties to 3 percent when electing audit committee members, in a bid to strengthen corporate independence and better protect minority shareholders. For example, if the owner, and their son and daughter were to exercise their voting rights, they could collectively exert up to 9% of voting rights when electing audit committee members. However, the amendment caps the combined voting rights of the largest shareholder, and all those directly or indirectly related to them, at 3% when electing directors to serve on the committee, including outside directors. This enhances the autonomy of individual shareholders and activist funds by reducing the controlling influence of the owner and related parties. Regarding the Three Percent Rule, a corporate governance expert called it one of the most significant and tangible changes in corporate governance law. “By capping the voting power of the largest shareholders and parties related to them to a combined 3%, it is now possible for a coalition of minority shareholders or an activist fund to place an independent director. As minority investors become increasingly assertive, this marks one of the most significant shifts toward improving corporate governance in South Korea.” The business community, meanwhile, has voiced concerns that the revision of the law could restrict important decisions such as future investments. Among them, some are calling it an “anti-corporate law” and argue that it might encourage shareholders to sue management whenever they lose money. Park Jun-han, Arirang News.

S. Korea logs May current account surplus of US$ 10.1 bil.

2025/07/04 12:34

South Korea's current account remained in the black in March for the twenty-fifth month in a row logging a current account surplus of ten-point-one billion U.S. dollars in May. According to the Bank of Korea on Friday, the figure is nearly double the number recorded in April possibly due to a slower rise in oil prices and reduced imports. The central bank also said while this was the third-largest surplus on record for May, exports fell for the first time in four months as autos and steel struggled under U.S. tariffs. From January to May this year, the cumulative current account surplus stood at 35-point-11 billion dollars, up eight-point-0-5 billion dollars from the same period last year.

K-Food+ sets record export high in first half of 2025

2025/07/04 11:34

Agricultural and food products exported from South Korea came to a record high in the first half of the year, led by growing popularity of Korean food like ramyeon and hot sauces like gochujang and ssamjang. Our economic correspondent Park Jun-han has the details. South Korea's "K-Food+" exports, which combine agricultural products and agro-industrial goods, reached an all-time high in the first half of 2025, according to the Ministry of Agriculture, Food and Rural Affairs. The total export value hit 6-point-67 billion U.S. dollars , which is around 9 trillion won, a notable increase of 7-point-1 percent from the same period last year, driven by strong global demand for Korean food products. By region, North America was a standout market, with exports reaching 1.03 billion dollars — a 24.3 percent increase from a year earlier. The European Union and the UK followed closely, with exports to these countries rising 23-point-9 percent to 420 million dollars. Exports to the Commonwealth of Independent States, including Mongolia, climbed 9 percent to 240 million dollars, while shipments to Gulf Cooperation Council countries rose 17-point-8 percent to 180 million dollars. Although the first quarter outperformed the second, overall, key markets such as the U.S., China and Japan saw stronger growth in the second quarter — with shipments to the U.S. standing out. Among processed foods, ramyeon was a major export driver, reaching 730 million dollars in sales. Spicy ramyeon and new product launches resonated with global consumers, especially in markets like the Commonwealth of Independent States, China and the U.S. Sauce exports grew 18 percent, totaling 220 million dollars in gochujang, ssamjang and other sauces, reflecting the rising global awareness of Korean foods. The agriculture ministry said its plan is to reach 14 billion dollars worth of overseas shipments by the end of the year. "We must expand the export base by promoting product development at the corporate level and creating new agricultural products. It's also crucial to identify and address challenges Korean exporters face in the U.S. and other alternative markets through coordinated government efforts." Amid global trade uncertainties, the ministry added that it will actively support exporters through overseas online and offline promotions, consulting on tariffs and non-tariff barriers, and responding to export risks such as currency fluctuations and logistical issues. Park Jun-han, Arirang News.

Stock

2025/07/03 22:41

2025. 7. 3. KOREAN STOCK MARKET KOSPI : 3,116.27 ▲41.21 +1.34% KOSDAQ : 793.33 ▲11.16 +1.43% KOSPI200 : 420.94 ▲6.51 +1.57% ASIAN STOCK MARKET NIKKEI225 : 39,785.90 ▲23.42 +0.06% HANG SENG : 24,069.94 ▼151.47 -0.63% SHANGHAI : 3,461.15 ▲6.35 +0.18% WALL STREET (July 2) DOW JONES : 44,484.42 ▼10.52 -0.02% NASDAQ : 20,393.13 ▲190.24 +0.94% S&P500 : 6,227.42 ▲29.41 +0.47% EXCHANGE RATE USD : 1,359.40 (+0.70) JPY : 944.72 (-0.73) CNY : 189.81 (-0.18) EUR : 1,603.68 (+2.32)

K-Food+ sets record export high in first half of 2025

2025/07/03 22:39

Agricultural and food products exported from South Korea came to a record high in the first half of the year, thanks to growing popularity of Korean food like ramyeon and hot sauces like gochujang and ssamjang. Our economic correspondent Park Jun-han has the details. South Korea's "K-Food+" exports, which combine agricultural products and agro-industrial goods, reached an all-time high in the first half of 2025, according to the Ministry of Agriculture, Food and Rural Affairs. The total export value hit 6-point-67 billion U.S. dollars , which is around 9 trillion won, a notable increase of 7-point-1 percent from the same period last year, driven by strong global demand for Korean food products. By region, North America was a standout market, with exports reaching 1.03 billion dollars — a 24.3 percent increase from a year earlier. The European Union and the UK followed closely, with exports to these countries rising 23-point-9 percent to 420 million dollars. Exports to the Commonwealth of Independent States, including Mongolia, climbed 9 percent to 240 million dollars, while shipments to Gulf Cooperation Council countries rose 17-point-8 percent to 180 million dollars. Although the first quarter outperformed the second, overall, key markets such as the U.S., China and Japan saw stronger growth in the second quarter — with shipments to the U.S. standing out. Among processed foods, ramyeon was a major export driver, reaching 730 million dollars in sales. Spicy ramyeon and new product launches resonated with global consumers, especially in markets like the Commonwealth of Independent States, China and the U.S. Sauce exports grew 18 percent, totaling 220 million dollars in gochujang, ssamjang and other sauces, reflecting the rising global awareness of Korean foods. The agriculture ministry said its plan is to reach 14 billion dollars worth of overseas shipments by the end of the year. "We must expand the export base by promoting product development at the corporate level and creating new agricultural products. It's also crucial to identify and address challenges Korean exporters face in the U.S. and other alternative markets through coordinated government efforts." Amid global trade uncertainties, the ministry added that it will actively support exporters through overseas online and offline promotions, consulting on tariffs and non-tariff barriers, and responding to export risks such as currency fluctuations and logistical issues. Park Jun-han, Arirang News.

First month of Lee's presidency: economic policy and achievements

2025/07/03 22:37

Rebooting the country's economy and restoring people's livelihoods have been the South Korean president's No.1 tasks during his first month in office. We look back on the Lee administration's economic policies and what to look forward to in the months to come, with our economics correspondent Moon Ji-young. Welcome, Ji-young. Ji-young, President Lee couldn't stress enough how crucial reviving the country's economy is during the two-hour conference, could he? As you mentioned, President Lee has described the current state of people's livelihoods as having "collapsed." Lee,.. in his first administrative order, launched an emergency economic task force, aimed at making economic recovery the top priority. To understand why such an emphasis is put on livelihood recovery,.. we can first look at key economic indicators, starting with inflation. In June, consumer prices rose more than 2 percent year-on-year. Notably, the primary drivers were increases in fuel and food prices, directly impacting the daily lives of ordinary citizens. Secondly, the economic outlook.. paints a challenging picture. For this, let's hear directly from an expert. "Well, the growth rate this year is only expected to be 0.8% by the Bank of Korea, and a lot of international investment banks are predicting that it'll actually be worse. Some are predicting that the growth rate will only be 0.3%. The two main pillars of the Korean economy are exports and domestic consumption, and both seem to be down very much this year." Household debt remains a substantial concern as well. The scale of household loan growth, especially mortgage loans,.. is expanding. This is intertwined with the real estate market situation, especially in the Seoul area, which recently saw huge price increases. In response, the government announced new loan regulations, primarily targeting the Seoul area where all local lenders will be forced to sharply lower their household lending. We also need to talk about the Lee government's supplementary budget, which is designed to reboot the local economy from consumption to investment. Lee has repeatedly stated that the supplementary budget will create a multiplier effect in the economy. The government is aiming to distribute financial support quickly to stimulate consumption and investment. According to economic experts, this approach has specific goals and expectations: "The government is hoping that the supplementary budget, which uh, originally plan to distribute about 20 trillion won, would pull the economy up by 0.2% points. Uh, that is perhaps not as efficient as government spending on SOC investment or direct government purchases. But right now, the government feels that that's the fastest way that we can pick up consumption and investment in the economy." What was also echoed during today's press conference was President Lee's commitment to realizing the KOSPI 5000 era. Tell us more. President Lee aims to transform the "Korea Discount" into a "Korea Premium," setting a target for KOSPI at 5,000. He envisions an investment-friendly environment where market funds flow into productive sectors, fostering a virtuous economic cycle and increasing national wealth. The policy is expected to create a more robust capital market, driving industry growth and overall economic prosperity. President Lee pledged to invest in future-oriented industries. Tell us why these investments are so crucial now. Lee is committed to investing in advanced tech industries, including semiconductors and AI. These are sectors already garnering significant attention as core components for cutting-edge products and emerging industries even prior to the COVID-19 pandemic. During the pandemic, a chip shortage halted car production, and since then, many nations have focused on fostering chips for economic security and supply chain stability. This crisis profoundly underscored the strategic importance of semiconductors. Let's listen to what an expert says. "As many countries aggressively pursue semiconductor development, competitive investment is surging. If we don't continue our investment, we risk falling behind, especially since nations like the U.S. and Japan are attracting foreign companies with direct subsidies." Moreover, AI technology has emerged as a new innovation set. to completely transform our lives. With South Korea yet to secure leading technologies in this field, it's crucial for the country to focus on it to avoid falling behind. And Ji-young. Our colleague Jung-min reported earlier, President Lee himself is well aware that tariff negotiations with the U.S. are hard to predict, didn't he? Regarding tariffs, Lee said the government has made utmost efforts on tariff negotiations, but he can't say whether the talks could be concluded by July 8th, the deadline set by U.S. President Donald Trump. With these ongoing tariff talks, uncertainties surrounding the Korean economy still persist and will require close monitoring. Indeed. Let us keep an eye out for if there'll be any last-minute tariff deal with the U.S. Thanks for the wrap-up.

Vietnam becomes 2nd country to make trade deal with U.S. before July 9 deadline

2025/07/03 19:36

Vietnam has become the second country to seal a TARIFF deal with the U.S. ahead of next week's deadline. Our Kim Do-yeon reports. The U.S. has announced its second major tariff deal since U.S. President Donald Trump announced an increase on tariffs for imported goods on April 2nd. Trump took to Truth Social on Wednesday, where he called the agreement with Vietnam a "great deal." According to his post, Vietnam will pay a 20% tariff on all goods shipped to the U.S., and a 40% tariff on transshipped products, which are goods Vietnam imports from China and then re-exports to America to dodge existing tariffs. He also wrote that in return, Vietnam will grant the U.S. "TOTAL ACCESS" to its markets, eliminating tariffs on American goods. Trump noted that SUVs have a good chance of success in the Vietnamese market. Deputy Treasury Secretary Michael Faulkender on CNBC described the deal as a huge win, adding that more could be announced before the July 9th deadline. He noted that for many countries, the sticking points aren't tariff levels but non-tariff barriers, which often block American products. If those come down, he said, it "reshapes the calculus for U.S. trade." Faulkender also warned that there will be no extension beyond July 9th and that he anticipates an announcement on the tariffs imposed on countries that have not or do not strike a deal. This comes as South Korea has yet to strike an agreement. Despite Trade Minister Yeo Han-koo's trip to Washington last week, the Wall Street Journal reports a deal isn't close. Seoul is seeking relief on U.S. tariffs targeting autos, steel, and aluminum, while U.S. negotiators have concerns over Korea's regulations on digital giants like Google and Coupang. Kim Do-yeon, Arirang News.

First month of Lee Jae Myung's presidency: economic policy and initial achievements

2025/07/03 19:35

Up next we shed light on the Lee Jae Myung administration's economic initiatives over the past month and the plan ahead. Our Moon Ji-young has details. President Lee has made it clear that his administration's top priority is the urgent recovery of people's livelihoods. This pressing focus on livelihoods stems from a challenging economic forecast that, as one expert recently highlighted, explains the government's strong emphasis on the critical need for immediate action. "Well, the growth rate this year is only expected to be 0.8% by the Bank of Korea, and a lot of international investment banks are predicting that it'll actually be worse. Some are predicting that the growth rate will only be 0.3%. The two main pillars of the Korean economy are exports and domestic consumption, and both seem to be down very much this year." President Lee has emphasized efforts to alleviate economic hardship, noting the swift activation of an emergency task force and the rapid allocation of a 30-point-5 trillion won supplementary budget, urging parliamentary approval to stimulate the economy. Beyond immediate relief, a central theme of the President's address was an unwavering commitment to investing in future-oriented sectors. This includes advanced technology industries like AI and semiconductors, renewable energy initiatives, and the cultural sector. He articulated plans to prepare for a 'KOSPI 5,000 era' by advancing capital markets, aiming to channel capital into productive areas and enable citizens to invest in growing enterprises, thereby increasing national wealth. He also outlined a vision for balanced national development, seeking to overcome regional disparities and foster industrial collaboration between large corporations, SMEs, and startups. Regarding tariff talks with the U.S., President Lee said the government has made utmost efforts on tariff negotiations, but he can't say whether the talks could be concluded by July 8th, a deadline set by U.S. President Donald Trump. Moon Ji-young, Arirang News.

Seoul completes talks over additional K2 tanks exports to Poland on Wednesday

2025/07/03 16:40

With negotiations completed on Wednesday, South Korea is set to export a second batch of K2 tanks to Poland, with the total value of the deal estimated to be more than 6-billion U.S. dollars. Our defense correspondent Kim Bo-kyoung tells us more. South Korea's Hyundai Rotem has completed negotiations over a deal to export additional K2 tanks to Poland, according to the state arms procurement agency on Wednesday. Though the specific size of the contract is yet to be disclosed, it is widely expected to be a deal worth around 6-point-5-billion U.S. dollars --a little less than nine trillion Korean won. This, marks the first "large-scale" arms export deal completed under the new Lee Jae Myung administration, and also, it would be Seoul's largest single arms export contract if the figure above is confirmed. The Defense Acquisition Program Administration said Seoul and Warsaw are currently coordinating to arrange the signing ceremony. With Russia's invasion of Ukraine, there has been a defense spending push in Poland. After signing a framework contract in July 2022, Warsaw signed a series of deals with South Korean defense companies later that year to acquire K2 tanks, K9 self-propelled howitzers, FA-50 light attack aircraft, and the K239 Chunmoo multiple launch rocket system. Following the first-phase contract, second-phase deals were made for the K9 howitzers in 2023, and Chunmoo MLRS in 2024. Though the second-phase contract for the K2 tanks was expected to be signed around the same time as other weapon systems, negotiations took longer, only to be settled this year. Industry sources say, with production facilities to be established in Poland, 117 units out of 180 K2 tanks will be produced by Hyundai Rotem, while the rest will be locally made by Warsaw's state-owned Polish Armaments Group --PGZ. An expert says this deal could further build momentum for Korea's defense industry, especially as NATO members are now committed to raising defense spending to 5 percent of GDP. "They (European nation) had no defense industry over the seven decades so ground military and K-defense industry supported them to have their own self defense capability in the long term in the end, rather than US weapons system who push countries to buy only a weapon but not a copyright system or supporting system." While leveraging strong defense capabilities and cost-effective production, Korea aims to boost defense export momentum in Europe. Kim Bo-kyoung, Arirang News.

Vietnam becomes 2nd country to make trade deal with U.S. before July 9 deadline

2025/07/03 15:35

Vietnam has joined the UK as the only countries to have made a trade deal with the U.S. before the negotiation deadline for tariffs on July 9th. The U.S. says more deals are on the way with a little less than a week to go. Our Kim Do-yeon has more. The U.S. has announced its second major tariff deal since U.S. President Donald Trump announced an increase on tariffs for imported goods on April 2nd. Trump took to Truth Social on Wednesday, where he called the agreement with Vietnam a "great deal." According to his post, Vietnam will pay a 20% tariff on all goods shipped to the U.S., and a 40% tariff on transshipped products, which are goods Vietnam imports from China and then re-exports to America to dodge existing tariffs. He also wrote that in return, Vietnam will grant the U.S. "TOTAL ACCESS" to its markets, eliminating tariffs on American goods. Trump noted that SUVs have a good chance of success in the Vietnamese market. Deputy Treasury Secretary Michael Faulkender on CNBC described the deal as a huge win, adding that more could be announced before the July 9th deadline. He noted that for many countries, the sticking points aren't tariff levels but non-tariff barriers, which often block American products. If those come down, he said, it "reshapes the calculus for U.S. trade." Faulkender also warned that there will be no extension beyond July 9th and that he anticipates an announcement on the tariffs imposed on countries that have not or do not strike a deal. This comes as South Korea has yet to strike an agreement. Despite Trade Minister Yeo Han-koo's trip to Washington last week, the Wall Street Journal reports a deal isn't close. Seoul is seeking relief on U.S. tariffs targeting autos, steel, and aluminum, while U.S. negotiators have concerns over Korea's regulations on digital giants like Google and Coupang. Kim Do-yeon, Arirang News.

S&P 500 hits new all-time high on news of U.S.-Vietnam trade deal

2025/07/03 15:33

The S&P 500 closed Wednesday with yet another all-time high, after U.S. President Donald Trump announced a U.S.-Vietnam trade deal. The index gained zero-point-four-seven percent, closing at 6-thousand-227-point-four-two, to set a new record. Earlier the same day, Trump posted to social media that the U.S. and Vietnam had reached a trade deal that includes a 20 percent tariff on imports from Vietnam. The tech-heavy Nasdaq also closed at a record high, after gaining nearly one percent, to end the trading session at 20-thousand-393-point-one-three.

Stock

2025/07/02 22:41

2025. 7. 2. KOREAN STOCK MARKET KOSPI : 3,075.06 ▼14.59 -0.47% KOSDAQ : 782.17 ▼1.50 -0.19% KOSPI200 : 414.43 ▼1.83 -0.44% ASIAN STOCK MARKET NIKKEI225 : 39,762.48 ▼223.85 -0.56% HANG SENG : 24,221.41 ▲149.13 +0.62% SHANGHAI : 3,454.79 ▼2.96 -0.09% WALL STREET (July 1) DOW JONES : 44,494.94 ▲400.17 +0.91% NASDAQ : 20,202.89 ▼166.84 -0.82% S&P500 : 6,198.01 ▼6.94 -0.11% EXCHANGE RATE USD : 1,358.70 (+2.80) JPY : 945.45 (+1.49) CNY : 189.63 (+0.30) EUR : 1,601.36 (+3.84)

Trump rules out tariff suspension period extension

2025/07/02 22:37

As the clock ticks down on a critical U.S. trade deadline, U.S. President Donald Trump has made clear yet again that no more time will be granted for countries under temporary tariff relief. Our Moon Hye-ryeon has more. With the suspension period on tariffs set to expire soon, U.S. President Donald Trump signaled that he has no plans to extend the deadline, and that new trade penalties for some countries may soon take effect. Speaking to reporters aboard Air Force One on Tuesday, he singled out Japan after taking to social media the day before to criticize Tokyo for refusing to import American rice despite facing a domestic shortage. "So what I'm going to do is I'll write them a letter and say, 'we thank you very much and we know you can't do the kind of things that we need and therefore you pay a 30%, 35% or whatever the numbers that we determine,' because we also have a very big trade deficit with Japan " On the other hand, he said a deal to reduce the 26 percent tariff rate for India to "much less" is on the table, after Indian officials extended a visit to the White House last week. U.S. Treasury Secretary Scott Bessent told Fox News prior to this statement that the two countries are close to making a deal that lowers levies for both parties. India is one of 57 named countries targeted by country-specific mutual tariffs announced back in April, before they were pushed back for a 90-day negotiation period. During that period, Washington has pushed for talks focused on tariff rates, trade imbalances, and non-tariff barriers. Only the UK has been able to negotiate a limited trade deal with the Trump administration so far, accepting a 10 percent U.S. tariff on certain items in exchange for special access to aircraft engines and British beef. Going forward, the Trump administration is reportedly planning meetings with its trade team to set tariff rates for individual countries as the July 9th deadline approaches. The U.S. Director of the National Economic Council revealed on Monday that the U.S. President will review tariff plans for each country, while Bessent warned that tariffs could remain high for countries that do not cooperate. Moon Hye-ryeon, Arirang News.

Hyundai Motor, Kia achieve record U.S. sales in first half of 2025 despite tariffs

2025/07/02 22:36

Hyundai Motor and Kia set a new record by selling over 893-thousand vehicles in the U.S. during the first half of 2025, marking a 9.2 percent increase compared to the same period last year. Eco-friendly vehicle sales grew, driven by a surge in hybrid demand, though electric vehicle sales declined. Despite the impact of U.S. President Donald Trump's tariffs on automobiles, Hyundai and Kia sold over 473-thousand vehicles during the second quarter. This is a 7.9 percent increase from the same period last year — marking their best-ever second-quarter performance.

Ramyeon and seafood lead steepest inflation rate climb in 5 months

2025/07/02 22:36

Consumer prices in June went up 2.2% in June. That's the steepest on-year rise since January. Our correspondent Kim Do-yeon tells us more. Consumer prices in South Korea climbed back to the two-percent range in June marking the fastest pace in five months. According to the data released by Statistics Korea, consumer prices in June increased by 2-point-2 percent year-on-year. The jump comes after last month the on-year percentage dropped below 2 at 1-point-9. "Although the increase in livestock prices has slowed, the decline in agricultural products has narrowed, petroleum products have turned upward, and prices for processed foods and other items, excluding dining out, has risen further — resulting in a 2-point-2 percent year-on-year increase." Processed food prices, in fact, jumped four-point-six percent for the sharpest increase since late 2023. This means bread, coffee, and ham led the gains but one of the most popular processed foods for Korea, ramyeon also jumped. "Once a cheap source for a quick meal, ramyeon prices aren't what they used to be. On-year, prices have jumped 6.9% that's the highest in 21 months. The government explains that this is due to ingredient prices going up." "I think it's really expensive. I don't buy in bulk anymore, and I eat less of it." Seafood prices also saw a notable climb, up seven-point-four percent, with officials pointing to global warming and unstable marine conditions. Consumers feel the difference and need to take advantage of good opportunities. "We're a family of three, and we used to eat a lot of fish. It's too expensive for us now, but I'm here because I heard there's a sale." Meanwhile, oil prices edged up zero-point-three percent, due to the geopolitical tensions in the Middle East. The Finance said that given uncertainties such as weather conditions and volatility in global oil prices, it will make all-out efforts together with related ministries to stabilize consumer prices. In particular, to keep food prices in check, it plans to continue measures such as discounts on agricultural, livestock, and fisheries products, as well as applying quota tariffs on key food ingredients. Kim Do-yeon, Arirang News.