As the won-dollar exchange rate threatens to breach the 1,400 won level, financial authorities have been confirmed to have urgently summoned major securities firms to discuss exchange rate stabilization measures. This move stems from the assessment that explosive overseas stock buying by Korean reta
South Korean residents’ overseas card spending surpassed $5.9 billion in the third quarter of this year, setting a new all-time record. This increase was attributed to the rise in Korean nationals traveling abroad during summer vacation and holiday seasons, while foreign nationals’ domestic card usa
On Nov. 25, the Korean won opened in the 1,475-won range against the U.S. dollar, down nearly 2 won. The drop reflects expectations of interest rate cuts by the U.S. Federal Reserve and caution in the market over possible intervention by South Korea’s foreign exchange authorities.In the Seoul foreig
As the won-dollar exchange rate continues its steep rise, or a decline in the value of the won, the foreign exchange authorities and the National Pension Service have agreed for the first time to create a consultative body to respond to exchange rate issues. This is the first time a “Foreign Exchang
The won-dollar exchange rate jumped to its highest level in seven and a half months on Nov. 24, rising for the sixth consecutive trading day due to the impact of foreign investors’ net selling in the domestic stock market.The closing price (as of 3:30 PM) of the won against the U.S. dollar in the Se
Chey Tae-won, chairman of SK Group and chairman of the board of Chey Institute for Advanced Studies, said at the Tokyo Forum 2025 held in Tokyo, Japan on Nov. 21, “Under current capitalism, we are facing various social problems such as environmental issues and social polarization, and we need a new
Producer prices rose for the second consecutive month due to rising semiconductor prices.The October producer price index announced by the Bank of Korea on Nov. 21 was 120.82 (2020 level = 100), up 0.2% from the previous month. Compared to the same month last year, it jumped 1.5%, with the increase
The Korea International Trade Association (KITA) has established new offices in Hanoi, Vietnam, and São Paulo, Brazil, to target the “Global South” region and begin full-scale support for South Korean companies’ entry into these markets.KITA announced on Nov. 21 that it held an opening ceremony for
The Trade Commission under the Ministry of Trade, Industry and Energy has decided to conduct an interim review of anti-dumping duty rates imposed on Chinese PET film and raise them to nearly 10 times the current level. This marks the first time the Trade Commission has utilized the interim review sy
U.S. President Donald Trump said he wants to fire Federal Reserve Chair Jerome Powell. “I’ll be honest, I’d love to fire his ass,” Trump said of Powell at the U.S. Saudi Arabia Investment Forum held on Nov. 19 at the Kennedy Center in Washington, D.C. He added, “He's got some real mental problems. T
Leading business figures from South Korea and the United Arab Emirates (UAE) have met to strengthen their alliance in artificial intelligence (AI) and advanced industries, where they have established cooperative ties, while also agreeing to expand their collaborative front to soft power sectors such
The soaring won-dollar exchange rate is a phenomenon resulting from a dollar shortage, said Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol on Nov. 19, adding, “We are coordinating with major foreign exchange supply and demand entities to ensure that excessive uncertainty or
Twenty-six major public institutions, including Korea Electric Power Corp., will execute 69 trillion won in investments this year, an increase of 3 trillion won from the originally planned 66 trillion won. In response, the government has also decided to significantly overhaul the national contract a
Bank of Korea Governor Rhee Chang-yong assessed that uncertainties caused by the aftermath of high U.S. tariffs have been significantly alleviated through Korea-U.S. tariff negotiations. He explained that Korea's export performance was relatively favorable in the first half due to front-loading effe
Foreign exchange authorities have decided to work closely with major export companies including Samsung Electronics and SK Hynix for exchange rate stability.Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol held a meeting with domestic export companies at the Government Complex
Financial authorities and the five major financial holding companies have established a cooperative framework for the formation and investment of the 150 trillion won National Growth Fund, which will officially launch on Dec. 10. Financial Services Commission Chairman Lee Eok-won emphasized, “The Na
A survey has revealed that companies in South Korea’s top 10 export industries will lose their competitive edge to Chinese companies in just five years by 2030. This indicates that the “China phobia” among domestic companies that have driven Korea’s economic growth may not remain merely a concern bu
While the Dollar Index (dollar value) rose 3.1% between Sept. 16 and Nov. 11, the won-dollar exchange rate increased 6.1% (won depreciation) during the same period, showing a won depreciation twice as much as the dollar's value gain. The Dollar Index is an indicator that shows the value of the dolla
Last month’s exports increased for the fifth consecutive month, recording the highest performance for October. By region, China’s exports declined again after two months, while U.S. exports continued negative growth for the third month.According to the October export-import status report announced b
Samsung Electronics will invest a total of 450 trillion won domestically over the next five years starting this year, including construction of the next-generation semiconductor plant Pyeongtaek Plant 5 (P5), while Hyundai Motor Group will invest a total of 125.2 trillion won domestically from next
