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The Korea Herald

Economy

December 08, 2024
Financial regulators to meet with banking heads amid market instability

South Korea's financial regulators are set to meet with the heads of major financial groups next week amid escalating political tension surrounding President Yoon Suk Yeol’s impeachment motion. The Financial Services Commission is arranging a meeting with the heads of major financial groups, incl...
December 08, 2024
Bumpy road ahead for Korean economy

As the fate of embattled President Yoon Suk Yeol is likely to stay in limbo for longer than expected, concerns are mounting over pending economic measures that need to be addressed to rev up the country’s slowing growth. After a failed parliamentary vote on his impeachment Saturday, Han Dong-hoon...
December 08, 2024
Korea’s finance chief sending out emergency letters to reassure foreign investors

South Korea's finance minister has sought to reassure foreign investors and global financial institutions through emergency letters and meetings, as political tensions intensify following President Yoon Suk Yeol's martial law declaration. An official from the Ministry of Economy and Finance confir...
December 06, 2024
Korean markets tumble amid impeachment talks

South Korea’s stock markets dropped sharply Friday as political tensions intensified over calls to impeach President Yoon Suk Yeol, adding pressure to an already fragile investment landscape. As of 11:05 a.m., the Kospi, South Korea’s main stock index, fell 31.56 points, or 1.29 percent to 2,410...
December 05, 2024
'Value-up' gone up in smoke? Political crisis deepens 'Korea discount'

South Korea’s stock market was already on fragile ground before President Yoon Suk Yeol’s unexpected martial law declaration further undermined the government’s yearlong push to boost corporate value. Foreign investors sold a net 200 billion won ($141 million) in the benchmark Kospi within the ...
December 04, 2024
Korea’s sovereign rating unscathed by martial law saga

S&P Global Ratings said Wednesday that South Korea’s sovereign credit rating won’t be hurt by the brief imposition of martial law in the country the previous night. “There is no substantial reason to change Korea’s current rating since the martial law was relieved in a few hours and the countr...
December 04, 2024
Political crisis jolts Korean market but recovery shows resilience

South Korea’s financial markets avoided a feared meltdown on Wednesday, recovering quickly after President Yoon Suk Yeol declared -- and just six hours later lifted -- martial law in response to political tensions. Swift intervention from the National Assembly and financial authorities helped cal...
December 04, 2024
Korea braces for prolonged market turmoil, pledges 'unlimited liquidity'

Six hours of unexpected martial law have rattled local markets, with volatility expected to persist despite the lifting of the emergency measure. In response to potential aftershocks, local authorities have pledged comprehensive actions to ensure normal operations and stabilize volatility, includi...
December 04, 2024
Korea's stock markets to open as usual

South Korea's bourse operator Korea Exchange has decided to open stock markets as usual amid concerns over market volatility induced by President Yoon Suk Yeol's brief imposition of an emergency martial law declaration. Stock market indicators, which plummeted due to President Yoon's sudden declar...
December 04, 2024
Korea's cypto prices plunge, exchanges paralyzed amid martial law declaration

Cryptocurrency prices plunged and exchanges were paralyzed after South Korean President Yoon Suk Yeol unexpectedly declared martial law on Tuesday night. As of 11:30 p.m. Tuesday, Bitcoin, the world's largest cryptocurrency, was trading at around 120 million won ($83,767), down nearly 8 percent fr...
December 04, 2024
Korean won hits 2-year low after Yoon declares martial law

The Korean won fell to a two-year low against the US dollar after President Yoon Suk Yeol declared emergency martial law late Tuesday. The Korean currency weakened as much as 1.4 percent and touched 1,430 won per dollar during the nighttime offshore trading. The decline followed a late-night tele...
December 03, 2024
Extending retirement age to 65 could cost W30tr won in labor costs: FKI report

Extending the legal retirement age from the current 60 to 65 could result in additional labor costs of over 30 trillion won ($21.39 billion) per year for local businesses, according to a report released Monday by a lobby group of local entrepreneurs. The Federation of Korean Industries' report est...
December 02, 2024
Regulator seeks to revise law to protect small shareholders

South Korea’s top financial regulator said Monday it would seek to revise the Capital Market Act to protect individual shareholders when listed companies undertake a merger and relist after a corporate spin-off. "We prepared a proposal for the revision of the Capital Market Act with the recogniti...
December 02, 2024
[Herald Interview] 'Development assistance is important for export-dependent Korea'

Strengthening international development assistance efforts could be a solution to lifting the stagnant Korean economy, as such aid helps create a global economic environment favorable to countries with an export-led growth model, according to the chief of the multilateral lender World Bank Group’s...
November 29, 2024
[Contribution] Fair taxation in era of global economy

By Choi Jae-bong The presence of global brands, such as for automobiles, footwear and food products, has become an inseparable part of our daily lives. From consumer goods to global platform corporations, multinational enterprises have firmly embedded themselves into the global economy, which is n...

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Herald Corporation |CEO : Choi Jin-Young |Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea |Title : The Investor |Date of registration : 2016.06.21 |Date of issue : 2016.06.21
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