SEOUL, Jan. 23 (Korea Bizwire) — South Korea will allow middle and high school students to use credit cards issued in their own names under a family card system, part of a broader regulatory overhaul aimed at adapting the financial sector to a cashless economy. The Financial Services Commission and the Financial Supervisory Service said Thursday [...]
SEOUL, Jan. 22 (Korea Bizwire) — South Korea’s benchmark stock index surged past the long-symbolic 5,000 mark on Thursday, propelled not by a single sector but by a widening rally that rotated from semiconductors into automobiles, defense, nuclear power and other heavyweight industries. The Korea Composite Stock Price Index, or KOSPI, climbed 1.89 percent in early [...]
SEOUL, Jan. 22 (Korea Bizwire) — The number of newly opened real estate brokerage offices in South Korea fell last year to its lowest level since the Asian financial crisis, underscoring the prolonged slump gripping the country’s property market. According to data released Tuesday by the Korea Association of Realtors, just 9,150 licensed brokers opened new [...]
SEOUL, Jan. 21 (Korea Bizwire) — South Korea’s unexpectedly strong start to the year is beginning to reshape investor sentiment, as retail traders scale back bets on a market downturn and shift cautiously toward products that track the rise of the benchmark index. Data released Wednesday by Yonhap Infomax showed that individual investors last week reduced [...]
SEOUL, Jan. 21 (Korea Bizwire) — South Korea’s antitrust regulator said Wednesday that it had imposed a combined 272 billion won, or about $184 million, in fines on the country’s four largest commercial banks, accusing them of coordinating restrictions on mortgage lending in a way that undermined competition. The Fair Trade Commission said Shinhan Bank, Woori [...]
SEOUL, Jan. 21 (Korea Bizwire) — The Bank of Korea on Wednesday introduced an in-house artificial intelligence system developed in partnership with Naver, the country’s largest internet company, as the central bank moves to strengthen its research capacity and safeguard control over sensitive financial data. The system, known as BOKI — short for Bank of Korea [...]
SEOUL, Jan. 21 (Korea Bizwire) – Banks and other financial institutions will be temporarily exempt from the foreign exchange stability levy until June as part of government efforts to boost the supply of U.S. dollars, the budget ministry said Wednesday. Under the six-month measure, financial institutions will not be required to pay the special levy, [...]
SEOUL, Jan. 20 (Korea Bizwire) — A growing share of young South Koreans are stepping away from the labor market altogether, a shift that economists say reflects deeper structural strains in an economy struggling to adapt to technological change and slowing growth. According to a report released Tuesday by the Bank of Korea, the proportion of [...]
SEOUL, Jan. 20 (Korea Bizwire) – The South Korean government said Tuesday that it would introduce a temporary tax incentive aimed at encouraging retail investors to bring money back home, as policymakers seek to stem persistent capital outflows that have weighed on the nation’s currency. Under the plan, individual investors who sell overseas stocks this [...]
SEOUL, Jan. 20 (Korea Bizwire) – The recent rally in the benchmark Korea Composite Stock Price Index (KOSPI) was largely uneven, with a few large-cap stocks dominating, data showed Tuesday. The KOSPI Large Cap Index jumped 18.27 percent since Dec. 30, the last trading day of 2025, as of Monday, according to the data from [...]