The KOSPI index has fluctuated amid consecutive adverse developments, returning to its January levels. Compared to the annual high of 2,667.07 on Aug. 1, it has declined by 13.7 percent.On Oct. 26, the KOSPI index closed at 2,299.08, marking a 2.17 percent decline, while the KOSDAQ index concluded a
Starting next year, foreign residents in South Korea seeking eligibility for health insurance as dependent beneficiaries must have a minimum of 6 months of residency.According to the Ministry of Health and Welfare and the National Health Insurance Service on Oct. 26, an amendment to the Health Insur
An ironic situation unfolds as foreign investors are rapidly withdrawing their investments from the domestic stock market, while the foreign ownership percentage of the total market capitalization on the KOSPI hits a 20-month high.According to the Korea Exchange on Oct. 22, the foreign ownership rat
Regarding recent discoveries of illegal short selling involving global investment banks, Lee Bok-hyun, the head of the Financial Supervisory Service (FSS), stated on Oct. 17, “We will hold them financially responsible for a much larger amount than in the past. Criminal punishment also seems possible
Foreign investors posted a net outflow of more than US$1.4 billion in Korean securities in September. September marked the second consecutive month of a net outflow.Foreigners posted US$1.43 billion in a net outflow from the Korean stock market in September, according to a report titled “Financial M
Korea’s current account surplus reached US$4.81 billion in August, marking the fourth consecutive month of surplus. Although the goods balance posted the highest surplus in a year and five months, the surplus remained a recessionary one as imports fell more than exports. The Bank of Korea (BOK) fore
While the number of foreign nationals subscribing to domestic personal medical insurance is on the rise, it has been observed that the incurred losses and loss ratios of foreign policyholders under personal medical insurance have also increased.According to the “Status of Foreign Nationals’ Personal
According to data obtained by Park Sang-hyuk, a lawmaker and a member of the National Assembly’s National Transportation Committee, from the Ministry of Land, Infrastructure, and Transport on Oct. 5, there were a total of 1,341 registered foreign property rental operators in South Korea as of the en
One in four foreign workers received unemployment benefits that amounted to more than they earned before they lost their jobs in Korea.Out of 12,100 foreign unemployment benefit recipients last year, 3,200 (26.4 percent) took home more than their previous wages, according to the government’s data su
The KOSPI’s market capitalization, which had maintained the 2,000 trillion won (US$1.48 trillion) level since May, saw another sharp decline as it fell below 2,000 trillion won at the end of last month. The persisting “3 Highs” phenomenon – high interest rates, high oil prices, and a strong dollar –
For the first time, foreigners were honored at Shipbuilding and Offshore Day, the 20th anniversary of which was celebrated this year on Sept. 20. The honorees were Komkrit from Thailand who works for Daero ENG, a Samsung Heavy Industries partner, and Sri Lankan national Kumara, a worker of Jiu Indus
YG Entertainment’s stock price is plummeting amid a rumor that the company will fail to re-sign Blackpink member Lisa.At 10:57 a.m. on Sept. 15, YG Entertainment was trading at 73,700 won per share, down 8,000 won (9.79 percent) from the previous day. Foreigners and institutions were selling.Earlier
Among foreign health insurance dependents, Chinese nationals spent the largest amount of healthcare funds of Korea’s universal health care program in 2022. The amount of healthcare funds spent for Chinese national dependents totaled 1.95 million won (US$1,467) for each one of them, and the contribut
Last month foreign investors experienced a net outflow of US$1.7 billion (2.26 trillion won) from their investments in domestic stocks and bonds, marking the first time in 7 months since January that such a substantial withdrawal has occurred. Both stocks and bonds saw capital leaving the market dur
Foreigners switched to selling in the Korean stock and bond markets in August. Foreigners sold more than 1 trillion won worth of Korean stocks in August alone, pushing down their share of listed Korean stocks to the lowest point this year.According to a report about August 2023 foreigner Korean stoc
Korea’s current account posted a surplus for the third consecutive month in July, but it was a recessionary surplus as imports fell more than exports. In particular, a surge in overseas travel led to a larger deficit in the travel account, making the size of the service account deficit 36 times larg
Of the 1.75 million foreigners living in South Korea in 2022, two out of 10 faced discrimination at shops, restaurants, banks, and workplaces, according to a survey by Statistics Korea.Statistics Korea’s Statistics Research Institute released the results of its analysis on “Foreign Residents’ Lives
The Financial Supervisory Service (FSS) has called on foreign securities firms to make self-cleaning efforts to eradicate recurring illegal naked short selling. This means that the FSS has urged the foreign securities firms to learn how Korea’s regulations differ from international practices and to
The government, in a joint effort with the private sector, is establishing a “Startup Korea Fund” with a total size of 2 trillion won (US$1.51 billion) by 2027 to support the global expansion of deep tech and startups.The Ministry of SMEs and Startups (MSS) announced the “Comprehensive Startup Korea
The government has supplied more than 10,000 workers, both nationals and foreigners, to the shipbuilding industry in the first half of this year. Out of these, foreign workers totaled 8,300.According to the Ministry of Trade, Industry, and Energy and the Ministry of Justice, a total of 11,104 produc