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
The Korean government is approving the sale of national core technologies to foreign companies, national core technology transfers, or foreign investment in national core technology holding organizations after receiving reports on them. The number of such cases has more than tripled over the last fi
The Korean government has begun to improve its system to allow more skilled foreign workers to work longer at workplaces in Korea.On Aug. 24, the Ministry of Justice announced a plan to revolutionize work visa regulations in order to drive Korea’s economic growth at the 4th Regulation Innovation Str
Japan has reported a 1.5% economic growth rate in the second quarter, significantly outpacing South Korea’s 0.6%. Despite the global economic slowdown, Japan continues its growth streak for the third consecutive quarter. Its stock market has also reached its highest level in 33 years, indicating a r
China has launched counterattacks against U.S. economic restrictions on the Chinese market. The counterattacks include three measures implemented last month and this month.“As the U.S.-China conflict escalates and China announced legislative initiatives and export control measures to secure economic
It has been found that the foreign ownership percentage of top market capitalization stocks has increased this year. Notably, foreign investors have extended their financial commitments into the domains of defense and construction.According to data released by the Korea Exchange on Aug. 2, the numbe
South Korea’s total population stood at 51,692.000 as of July 1 2022, down 46,000, or 0.1 percent, from 2021, according to the results of the 2022 Population and Housing Census released by Statistics Korea on July 27.The total population of the census includes foreigners who have been living in Kore
As foreign investment in domestic securities saw an increase and the exchange rate between the Korean won and U.S. dollar stabilized, banks experienced a historic surge in their daily average foreign exchange trading volume in the second quarter.According to the Bank of Korea (BOK) on July 26, the d
The Ministry of Culture, Sports and Tourism, in conjunction with the Korea Visit Committee, will hold the “Korea Summer Beauty Sale” for a month from July 20 to August 20.The Korea Summer Beauty Sale is a public-private partnership event held with the participation of the K-Tourism Cooperation Team