Teenieping takes over Children's Day

On Children’s Day, Monday, Hyundai Motorstudio Goyang was filled with children and their families who gathered to take part in the automaker’s special exhibition, held in collaboration with the popular animated series Catch! Teenieping. Titled Youth Adventure, the event offered young visitors the chance to explore hands-on activities, pose for photos with life-sized character models, and immerse themselves in a world of imagination inspired by the beloved animation. Running through June 1, the e

May 5, 2025

Hanwha Ocean shares drop sharply on KDB’s stake selloff

Hanwha Ocean shares plunged more than 12 percent on Tuesday as investor concerns mounted over the state-run Korea Development Bank’s plan to sell its stake in one of the world’s largest shipbuilders. Shares of Hanwha Ocean were trading at 78,500 won ($55) as of 2:00 p.m., down 12.09 percent from the previous day’s close. The significant price decline came after local news reported Monday that Korea Development Bank had initiated a bookbuilding process to offload approximately 4.3 percent, or 13

April 29, 2025

Daewoo E&C Q1 operating profit up 30%

Daewoo Engineering & Construction said on Tuesday that its operating profit rose by more than 30 percent in the first quarter compared to a year earlier, fueled by improved profitability in its housing and plant construction divisions. The company reported an operating profit of 151.3 billion won ($105 million) for the January–March period, up 31.8 percent year-on-year. Consolidated sales declined by 16.5 percent to 2.07 trillion won. Net income also dropped sharply, falling 36.6 percent to 58 b

April 29, 2025

Korea’s per capita GDP set to fall below 2022 levels: IMF

The International Monetary Fund has revised its forecast for Korea, projecting that its per capita gross domestic product will revert to 2022 levels this year while extending the timeline for its economy to reach the $40,000 milestone. The IMF estimated Korea's 2025 per capita GDP to be $34,642. The metric, used to assess living standards and economic well-being, declined 4.1 percent from the previous year, according to its "World Economic Outlook" report released last Tuesday. The IMF has marke

April 28, 2025

Korean economy shrinks again in Q1

The South Korean economy contracted in the first quarter, reflecting its struggle to rebound from sluggish consumption affected by political turmoil and poor export performance stemming from weak demand. Preliminary gross domestic product data from the Bank of Korea released on Thursday showed that the economy shrank 0.2 percent in the January-March period from the previous quarter, which was 0.4 percentage point lower than the central bank's earlier forecast in February of 0.2 percent growth. C

April 24, 2025

Lee Jae-myung’s chaebol reform plans face corporate backlash

The economic proposals unveiled by Lee Jae-myung, the presidential front-runner of the liberal Democratic Party of Korea, are triggering alarm bells among major South Korean conglomerates, particularly his plan to mandate that listed firms retire treasury shares following buybacks. On Monday, Lee introduced an ambitious policy framework aimed at doubling the benchmark Kospi index to surpass 5,000 points if elected. Central to this initiative is the cancellation of treasury shares held by publicl

April 23, 2025

Korea's top policymakers to visit US next week amid push for tariff relief

Korea’s top economic policymakers are set to visit the United States next week in a coordinated diplomatic push to ease US President Donald Trump’s tariffs on Korean exports. The Ministry of Economy and Finance confirmed on Thursday that Deputy Prime Minister and Finance Minister Choi Sang-mok will travel to Washington, where he is scheduled to meet with his US counterpart, US Treasury Secretary Scott Bessent. While the exact schedule and attendees are still being finalized, the meeting is expec

April 16, 2025

Indonesia tightens rules on foreign banks, targeting Korean financial firms

Korean commercial banks are under pressure from Indonesian financial authorities to establish local holding companies, adding to the regulatory challenges that have hampered their efforts to expand in the market. According to industry sources on Tuesday, Otoritas Jasa Keuangan, Indonesia’s independent financial regulatory agency, mandates that companies with either two or more financial affiliates in the country and total assets exceeding 100 trillion Indonesian Rupiah ($5.95 billion), or three

April 15, 2025

BOK likely to hold rates amid currency, debt concerns

Korea’s central bank is widely expected to hold its benchmark interest rate at 2.75 percent this week as policymakers weigh currency volatility and household debt pressures. Market consensus points to a rate freeze at Thursday’s April meeting, as the Korean won faces renewed pressure from escalating trade tensions driven by US President Donald Trump’s tariffs, fueling global market uncertainty. “Amid rising trade policy uncertainty and growing economic headwinds, the Bank of Korea is expected to

April 14, 2025

Korean bonds on track for WGBI inclusion in 2026

Authorities say 5-month delay aims to give global investors more time to prepare for Korean bond exposure Korea's inclusion in the World Government Bond Index, a key global benchmark for sovereign fixed-income performance, has been confirmed, though the entry date has been postponed by five months, according to the Finance Ministry on Wednesday. The timeline for the full integration into the WGBI, managed by Financial Times Stock Exchange Russell, remains unchanged, with completion still set for

April 9, 2025