The size of alternative investments in overseas real estate by domestic financial firms has grown by 2 trillion won (US$1.48 billion) in the past year, according to recent findings. Concerns about potential losses for financial firms have arisen due to the downturn in the overseas real estate market
Korea’s foreign exchange reserves fell for the second consecutive month in September as the U.S. dollar continued to strengthen.Korea’s foreign exchange reserves stood at US$414.1 billion at the end of September, down by US$4.18 billion from US$418.3 billion at the end of August, according to foreig
Amid a decline in overseas real estate prices, funds that invested in offices in the United States and Europe are facing potential losses. It has been estimated that over 1 trillion won was invested in mutual funds that were sold since 2018. The number of investors who have invested in these funds e
South Korean government bond yields have been on a soaring trajectory, surging by nearly 0.5 percentage points in just the past month, and are now heading towards the 5 percent range.According to the Economic Statistics System of the Bank of Korea (BOK) on Oct. 5, the yield on 10-year government bon
In the era of high interest rates and low growth, the rapidly increasing corporate debt has become another critical concern for the South Korean economy. Particularly worrisome is the growing prevalence of zombie companies that are keeping themselves afloat through debt, primarily among small and me
Korea’s industrial production, which had shrunken due to a slump in the semiconductor industry, made a comeback as semiconductor production rebounded.According to Statistics Korea on Oct. 4, the nation’s semiconductor production surged 13.4 percent month on month in August, the largest increase in f
Foreign direct investment (FDI) in South Korea reached a record high of US$23.95 billion (32.48 trillion won) by the end of the third quarter this year. The surge in investment, primarily focused on advanced industries such as secondary batteries, came from the European Union (EU) and regions in the
As the global energy market is rapidly changing, South Korea, the world’s third-largest importer of liquefied natural gas (LNG) after Japan and China, is also closely monitoring the situation.According to the Korea Customs Service on Sept. 3, South Korea’s cumulative LNG import volume and import val
As of the second quarter of this year, household and corporate debt has surged to approximately 2.26 times the nation’s economic size as measured by the gross domestic product (GDP). The Bank of Korea (BOK) has issued a warning emphasizing that the further expansion of private credit could potential
Last month, resident deposits fell below US$100 billion (133.65 trillion won), marking a decline for the first time in four months. This decline is attributed to the strong dollar phenomenon, which has led to a reduction in the conversion value of deposits denominated in euros and yen.According to t
Concerns are being raised that the structure of South Korea’s economy is evolving into the “New Normal” characterized by low growth. This is due to the fact that our economy, heavily reliant on exports, is not recovering, primarily as a result of the sluggish Chinese economy. Furthermore, external c
Financial authorities have declared war on unfair trading forces, including stock manipulation. They will swiftly freeze accounts suspected of unfair trading, apply a zero-tolerance policy, and increase the reward for reporting to 3 billion won (US$2.24 million), up from 2 billion won (US$1.49 milli
It has been revealed that individuals and corporations residing in South Korea declared virtual assets held in overseas accounts last year, amounting to a staggering 131 trillion won (US$98.72 billion). This constitutes a whopping 70 percent of the total reported amount for overseas financial accoun
The Organization for Economic Co-operation and Development (OECD) has projected South Korea’s economic growth rate to be 1.5 percent for this year, while Japan’s growth rate is expected to be 1.8 percent. If this forecast materializes, it would mark the first time in 25 years that Japan’s growth rat
Despite the escalating power struggle between the United States and China leading to increased calls for decoupling from China, an analysis suggests that it may not be easy for many countries, including South Korea, among the participants in the Indo-Pacific Economic Framework for Prosperity (IPEF),
In the span of a year, bad loans in corporate lending from the five major banks have surged by over 400 billion won (US$300.98 million), heading towards the 3 trillion won mark. With the corporate sector facing economic challenges, there are concerns that the fierce competition in corporate lending
Last year, South Korea’s private debt growth rate relative to its gross domestic product (GDP) was reported to be the highest in the world. While households and businesses are reducing their debt in most countries in the aftermath of COVID-19, South Korea is drawing attention for moving in the oppos
As of April this year, South Korea has emerged as one of the top three external importers of the European Union (EU). Excluding European countries, South Korea has secured the third position in this ranking, following China and the United States. This marks the first time that South Korea has surpas
On Sept. 14, the Ministry of Trade, Industry, and Energy announced that last month’s exports in the Information and Communication Technology (ICT) sector amounted to US$160.5 billion, with imports reaching US$110.7 billion. This led to a provisional trade surplus of US$49.8 billion.The decline in th
TheAfrica-Korea Business Summit was hosted at the Peninsula Hotel in Paris by the Korea-Africa Foundation and the Korea Chamber of Commerce and Industry (KCCI) with support from the Ministry of Foreign Affairs of the Republic of Korea. The theme for the business summit was ‘Africa-Korean partnership