Japan’s annual economic growth rate is forecast to exceed South Korea’s this year for the first time in 25 years. The IMF recently lowered its 2023 South Korean economic growth forecast from 2 percent to 1.7 percent and adjusted its forecast for Japan from 1.7 percent to 1.8 percent.According to exp
The Incheon Free Economic Zone (IFEZ) used to be an island, sea, tidal flat, and reclaimed land, but now it has been transformed into an ultra-modern city with sky-high skyscrapers and a population of 410,000. After being designated as Korea's first free economic zone in 2003, a great change has
The Financial Supervisory Service and HI Investment & Securities announced on Jan. 28 that foreign investors’ bond holdings in the South Korean market totaled 223 trillion won on Jan. 25 whereas the amount was over 228 trillion won at the end of 2022. The amount of decrease is the largest since Dece
The Korea Fair Trade Commission reported to President Yoon Suk-yeol that it would discuss how to improve rules and regulations applied to conglomerates.The discussion is likely to cover separation between industrial capital and financial capital. According to the current law, a general holding compa
The Bank of Korea announced on Jan. 25 that residents’ foreign currency deposits increased by US$3.59 billion to US$110.98 billion last month. The deposits consist of those owned by local individuals and companies, foreigners staying for at least six months in South Korea, and foreign companies doin
The Financial Services Commission announced on Jan. 24 that it would repeal the mandatory registration applied to foreign investors since 1992 and public disclosures in English would become mandatory next year in the case of every listed corporation with at least 10 trillion won in assets.At present
The Financial Services Commission announced on Jan. 19 that mandatory investment registration certificates applied to foreigners would be repealed and blockchain-based securities token offering (STO) would be permitted.The mandatory certificates were introduced in 1992 so that foreigners register th
The Bank of Korea announced on Jan. 12 that foreign investors in the South Korean bond market showed a net decrease in investment of US$2.73 billion in December 2022, the first net outflow in three months.In 2022 as a whole, the net increase in investment in the market was US$11.72 billion. It fell
The Ministry of Employment and Labor is planning to change rules so that foreigners with the E-9 visa for non-professional work can stay longer in South Korea.According to the current rules, foreigners with the visa for employment in, for example, manufacturing, agriculture and construction must lea
The South Korean government announced on Dec. 28 that it would reduce regulations related to foreigners’ economic activity participation, with the aging of the population accelerating.According to the government, South Korea’s total fertility rate is continuing to fall and estimated to reach 0.7 in
Foreign currency deposits of residents in Korea hit a new high at US$107.39 billion at the end of November, an increase of US$9.74 billion from the end of the previous month, according to a report released by the Bank of Korea on Dec. 21. The figure exceeded US$100 billion for the first time since t
The numbers of foreigners and foreign employees in South Korea are continuing to decrease in the wake of COVID-19. The foreign workers’ wages are rising with demand for them not falling. The individual monthly wage of about one-third of them is three million won or more.Statistics Korea announced on
The Korea International Trade Association said in its report on Dec. 19 that the bilateral trade between South Korea and Vietnam has increased 164 times and their mutual investment has increased more than 145 times since the establishment of their diplomatic relations in 1992. At present, Vietnam is
The KOSPI plunged nearly 2% on Dec. 2, as top large-cap stocks, led by Samsung Electronics, which fell more than 3% in market capitalization, showed weakness one after another. The excitement over the possibility of the U.S. Federal Reserve's rate adjustment the previous day was short-lived, and
The Ministry of Land, Infrastructure and Transport announced on Dec. 1 that foreigners owned 0.26 percent of South Korea’s territory at the end of the first half of this year. It is 260,747,000 square meters in area and 32.455 trillion won in appraised value.In six months, the ratio increased by 0.5
The Korea Securities Depository (KSD) signed MOUs with Euroclear and Clearstream on Nov. 29 and Dec. 1 so that foreigners’ investment in South Korean government bonds can be made easier based on omnibus accounts. The system is scheduled to be put into operation in the first half of 2023, and then fo
The Financial Services Commission has decided to repeal the mandatory foreign investor registration introduced in 1992.“The South Korean stock market is currently the only major stock market where foreign investor registration is mandatory,” it said, adding, “The registration will be replaced with i
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. The year 2022 has been tough for Korean Internet and game companies. However, we forecast that these stocks will attempt a rebound going forward. Expecting a return of more reasonable consumption
Catch Table, the No. 1 restaurant reservation service in Korea used by more than 2 million Koreans, has launched an English version of its reservation app to help foreign travelers easily find great restaurants in Korea.The English version of the app can be downloaded from various app stores. "We de
The Bank of Korea announced on Nov. 9 that foreigners’ stock and bond investments in South Korea showed a net inflow of US$2.77 billion last month. For reference, the net outflow was US$2.29 billion in September after a net inflow in August.Last month, the net inflow in stock investment was US$2.49