SEOUL, August 5 (Korea Bizwire) – South Korea’s major banks are ramping up restrictions on home-backed loans and jeonse (long-term rental deposit) financing, signaling a coordinated move to cool the property market and manage household debt more tightly. On August 5, Hana Bank announced it would halt new applications for mortgage and jeonse loans scheduled for [...]
SEOUL, August 4 (Korea Bizwire) — South Korea’s recent breakthrough trade agreement with the United States—touted as a major diplomatic win—may offer temporary relief on tariffs but leaves the door open for further pressure from Washington on sensitive trade issues, experts warn. The deal, struck on July 30, outlines a sweeping $450 billion investment and [...]
SEOUL, August 2 (Korea Bizwire) — South Korea’s emergency consumer coupon program, launched to revitalize local economies, achieved a 90% disbursement rate within just 11 days of rollout, but has since come under scrutiny over illegal cash conversions and human rights concerns related to the card’s design. The “Livelihood Recovery Consumer Coupons,” issued in prepaid [...]
SEOUL, August 1 (Korea Bizwire) — After a prolonged slump, South Korea’s commercial real estate market—including officetels and small buildings—is showing tentative signs of recovery following a recent easing of lending regulations. The government’s June 27 financial policy placed a 600 million won ($460,000) cap on home mortgage loans, but left commercial properties such as [...]
SEOUL, July 31 (Korea Bizwire) — As South Korean consumers grapple with rising food prices, ultra-low-cost products priced under 1,000 won are gaining popularity—prompting convenience stores to expand their “super-value” offerings. On July 30, 7-Eleven announced the launch of two canned coffee products, “Seven Select Black Coffee” and “Seven Select Café Latte,” each priced at [...]
SEOUL, July 30 (Korea Bizwire) — South Korea’s credit card spending rose sharply in the second quarter of 2025, buoyed by recovering consumer sentiment and optimism over potential economic stimulus measures in the second half of the year. According to data released Wednesday by the Credit Finance Association, total card-approved transactions reached 313 trillion won [...]
SEOUL, July 30 (Korea Bizwire) — In a bold bid to restore confidence in South Korea’s financial markets, regulators have launched a new joint task force designed to swiftly identify and stamp out illegal stock trading practices. The team, which officially began operations Wednesday, brings together officials from the Financial Services Commission (FSC), the Financial [...]
SEOUL, July 30 (Korea Bizwire) — More than 100 Gyeonggi Province residents have received compensation through the region’s pioneering climate insurance program, as record heatwaves continue to drive a sharp rise in heat-related illnesses. As of July 28, the Gyeonggi Provincial Government reported a total of 110 insurance payouts: 60 cases related to heat illness, [...]
GWANGJU, July 30(Korea Bizwire) — As dining costs continue to climb across South Korea, prices for samgyetang — a traditional Korean ginseng chicken soup favored during the summer heat — have breached ₩20,000 per bowl at many popular restaurants in Gwangju, marking a sharp departure from its status as an affordable seasonal comfort food. According to local [...]
SEOUL, July 29 (Korea Bizwire) — The National Tax Service (NTS) has launched a tax investigation into K-pop powerhouse Hybe over alleged fraudulent securities transactions related to the company’s initial public offering (IPO), industry sources said Tuesday. According to the sources, the NTS dispatched an investigative team to Hybe’s headquarters in Seoul’s Yongsan district earlier [...]