SEOUL, Jan. 20 (Korea Bizwire) – The chief of the country’s financial watchdog said Tuesday that his agency will look into risks related to private equity funds (PEFs), highlighting that illegal and unfair practices by some PEF operators may seriously undermine market principles. In a meeting with the heads of a dozen PEFs here, Lee [...]
SEOUL, Jan. 20 (Korea Bizwire) — Older South Koreans participating in government-sponsored job programs earned an average of about 405,000 won ($300) a month last year, with most saying the primary reason for working was to cover basic living expenses, according to a nationwide survey released Monday. The study, published by the Korea Labor Force Development [...]
SEOUL, Jan. 19 (Korea Bizwire) – Longer job searches and soaring housing costs are placing mounting strain on young South Koreans, deepening concerns that structural weaknesses in the economy could weigh on the country’s long-term growth, the central bank said on Monday. In a report examining the economic conditions of young adults, the Bank of [...]
SEOUL, Jan. 19 (Korea Bizwire) – American beef and pork products accounted for the largest share in South Korea’s imported meat market last year, the U.S. Meat Export Federation (USMEF) said Monday. In 2025, Korea imported a total of 468,122 tons of beef products, with U.S. beef taking up 220,427 tons, or 47.1 percent of [...]
SEOUL, Jan. 19 (Korea Bizwire) — South Korean companies filed a record number of trade-remedy petitions last year, turning increasingly to anti-dumping investigations as protectionist pressures mounted worldwide and low-priced imports—largely from China—flooded the domestic market. According to data released Sunday by the Trade Commission under the Ministry of Trade, Industry and Energy, Korean firms submitted [...]
SEOUL, Jan. 19 (Korea Bizwire) — South Korea’s benchmark KOSPI surged nearly 15 percent in early January, but the gains were unevenly distributed, with industrial and capital-intensive sectors leading the rally while consumer-related stocks lagged behind. According to data from the Korea Exchange, the transport equipment and auto parts sector posted the strongest performance between Jan. [...]
SEOUL, Jan. 16 (Korea Bizwire) — Many travelers returning from overseas try to spend their leftover foreign coins at airports or shops before coming home, assuming they cannot be exchanged in South Korea. Coins are heavy, inconvenient to carry, and often believed to be unusable domestically. But while less common and less lucrative than banknote exchanges, [...]
SEOUL, Jan. 15 (Korea Bizwire) — South Korea’s central bank kept its benchmark interest rate unchanged Thursday, signaling caution as a weakening currency and persistent inflation risks narrowed the scope for further monetary easing. The Monetary Policy Board of the Bank of Korea voted unanimously to hold the policy rate at 2.5 percent, extending a pause [...]
WASHINGTON•SEOUL, Jan. 15 (Korea Bizwire) – South Korea is preparing for “all possibilities” as it weighs how to respond if the U.S. Supreme Court strikes down President Donald Trump’s sweeping, country-specific tariffs, a senior trade official said Wednesday, underscoring the uncertainty facing global markets as Washington’s trade policy hangs in the balance. Trade Minister Yeo [...]
SEOUL, Jan. 15 (Korea Bizwire) — South Korea’s customs authority said it will tighten identity verification for overseas online purchases next month, adding a new layer of checks to curb the misuse of personal customs clearance numbers following a series of data theft incidents. The Korea Customs Service said Wednesday that starting Feb. 2 it will [...]