SEOUL, Feb. 7 (Korea Bizwire) — The International Monetary Fund (IMF) has cautioned that downside risks to South Korea’s economy remain significant, citing prolonged political uncertainty as a key factor that could dampen investment and consumer sentiment while heightening financial volatility. In its 2024 Annual Consultation Report on South Korea, released on February 7, the IMF [...]
SEOUL, Feb. 7 (Korea Bizwire) — The number of exclusive insurance agents in South Korea has increased despite the growing influence of independent insurance agencies (GAs) in the market, according to industry data released on February 6. Unlike GA agents who sell products from multiple insurers, exclusive agents are directly employed by insurance companies and sell [...]
SEOUL, Feb. 4 (Korea Bizwire) - South Korea’s financial watchdog said Tuesday that it will map out a stricter supervisory system for banks and take stern measures against their lack of internal control systems and risk management. According to the Financial Supervisory Service (FSS), Woori Bank, KB and NH Nonghyup had extended inappropriate loans worth [...]
SEOUL, Feb. 2 (Korea Bizwire) — South Korea’s gross domestic product (GDP) per person is estimated to have exceeded the US$36,000 mark last year, data showed Sunday. The GDP per capita for 2024 is estimated at $36,024, up $454, or 1.28 percent, from a year earlier, according to the data compiled by the Ministry of [...]
SEOUL, Jan. 31 (Korea Bizwire) — South Korea’s Financial Stress Index (FSI) spiked in December 2024 to levels last seen during the Legoland crisis in September 2022, reflecting mounting economic instability amid political uncertainty. According to data submitted by the Bank of Korea (BOK) to lawmaker Lim Kwang-hyun of the National Assembly’s Strategy and Finance Committee, [...]
SEOUL, Jan. 28 (Korea Bizwire) — Investors are pouring a large amount of money into funds that invest in U.S. stocks on hopes that President Donald Trump’s “America First” policy would help further boost the U.S. stock market, data showed Tuesday. According to the data from market tracker FnGuide, 167 funds that invest in U.S. [...]
SEOUL, Jan. 26 (Korea Bizwire) — The South Korean won experienced its steepest decline in real effective exchange rate (REER) in over two years last December, following political instability that shook financial markets. According to data released by the Bank for International Settlements (BIS) on January 26, South Korea’s REER index stood at 91.03 (2020=100) at [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korea’s stock market extended its winning streak last week, buoyed by investor relief over a tempered approach from the second Trump administration, which had raised fears of aggressive trade policies. The KOSPI index climbed 13.25 points (0.52%) to close at 2,536.80, marking its fifth straight weekly gain — a [...]
SEOUL, Jan. 23 (Korea Bizwire) — The Korea Securities Depository (KSD) reported on January 22 that the issuance of derivatives-linked securities (DLS) increased to 18.37 trillion won in 2024, marking a 14.3% rise from the previous year. DLS products are structured to provide promised returns when underlying assets such as interest rates or exchange rates remain [...]
SEOUL, Jan. 21 (Korea Bizwire) — Korean industries are expressing growing concern with the burden of increased raw material import costs and overseas investment expenses outweighing potential export benefits amid high exchange rates, according to a new report released on January 20. The Korea Chamber of Commerce and Industry surveyed 12 major industry associations to assess [...]