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S. Korea's top economic officials warn of continued financial market volatility
South Korea's top economic policymakers said Tuesday that volatility in the country's financial and foreign exchange markets is expected to persist, pledging to maintain close monitoring of the situation with heightened vigilance. The remarks were made during an emergency meeting convened by Finance Minister Choi Sang-mok, with the participation of the heads of the Bank of Korea, the Financial Services Commission and the Financial Supervisory Service, according to the Ministry of Economy and Fin
April 8, 2025 -
Seoul shares open sharply higher on bargain hunting
South Korean stocks got off to a strong start Tuesday on bargain hunting following a sharp drop the previous day. The benchmark Korea Composite Stock Price Index added 47.93 points, or 2.06 percent, to 2,376.13 in the first 15 minutes of trading. The index nose-dived 5.57 percent Monday on panic selling out of concerns over an escalating global trade war triggered by US reciprocal tariffs. In the United States, major stocks finished mixed as US President Donald Trump remained firm on tariffs, wa
April 8, 2025 -
S. Korea logs current account surplus for 22nd month in Feb.
South Korea logged a current account surplus for the 22nd consecutive month in February on rising exports, central bank data showed Tuesday. The country's current account surplus reached $7.18 billion in February, following a $2.94 billion surplus the previous month, according to the data compiled by the Bank of Korea. The country has reported a current account surplus every month since May 2023. The goods account logged an $8.18 billion surplus in February as exports climbed 3.6 percent on-year
April 8, 2025 -
S. Korea, Malaysia set to hold 8th round of FTA negotiations in Seoul
South Korea and Malaysia were set to hold their eighth round of negotiations for a bilateral free trade agreement Tuesday, as the two sides seek to broaden their trade portfolio and enhance cooperation, Seoul's industry ministry said. The latest round of talks for an FTA was scheduled to kick off in Seoul for a four-day run, according to the Ministry of Trade, Industry and Energy. The two sides plan to focus on making progress in negotiations across 10 sectors, including goods, services, investm
April 8, 2025 -
Seoul shares nosedive over 5.5 pct on panic selling sparked by Trump tariffs
South Korean stocks nosedived more than 5.5 percent Monday, extending their losing streak to a fourth consecutive day, as investors panicked over an escalating global trade war triggered by US reciprocal tariffs. The Korean won fell by the most since the COVID-19 pandemic against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) shed 137.22 points, or 5.57 percent, to close at 2,328.20. The tech-laden KOSDAQ also dipped 5.8 percent. Shortly after the stock market opened, the
April 7, 2025 -
Seoul shares nosedive over 5.5% on panic selling sparked by Trump tariffs
South Korean stocks nosedived more than 5.5 percent Monday, extending their losing streak to a fourth consecutive day, as investors panicked over an escalating global trade war triggered by US reciprocal tariffs. The Korean won fell by the most since the COVID-19 pandemic against the US dollar. The benchmark Korea Composite Stock Price Index shed 137.22 points, or 5.57 percent, to close at 2,328.20. The tech-laden KOSDAQ also dipped 5.8 percent. Shortly after the stock market opened, the bourse
April 7, 2025 -
Korean won and stocks plummet as tariffs spur global recession fears
South Korea's currency and stock market plunged Monday morning, amid fears of a global trade war triggered by US President Donald Trump's tariff plans and China's retaliatory measures. The Korean won opened at 1,462.0 won per dollar, down 27.9 won from the previous session, and had weakened further to 1,468.65 won as of 10 a.m. The benchmark Korea Composite Stock Price Index lost 103.56 points, or 4.2 percent, to 2,361.86 in the first 15 minutes of trading. With the steep drop, the bourse operat
April 7, 2025 -
Korean won again nears 1,470 won mark amid Trump tariff shockwave
The South Korean currency traded markedly lower against the US dollar Monday amid concerns over the impact of the Donald Trump administration's sweeping tariff scheme. The Korean won opened at 1,462.0 won per dollar, down 27.9 won from the previous session, and had weakened further to 1,468.65 won as of 10 a.m. The won's decline came as Trump pledged to impose "reciprocal" tariffs on imports from most of the world, including 25 percent duties on South Korean goods, which are set to take effect o
April 7, 2025 -
Finance minister vows stepped up efforts to devise extra budget for trade risk response
The government will further enhance its push for an extra budget aimed at addressing trade risks and other pending issues surrounding the economy that will include close communication with the National Assembly, the finance minister said Monday. The pledge comes after the US Donald Trump administration announced reciprocal tariffs, including 25 percent duties for South Korea, that are set to go into effect this week. "We need to devise support measures for sectors that require urgent attention,
April 7, 2025 -
S. Korea to extend liquidity support for firms amid Trump tariff woes
South Korea's financial regulator said Monday that authorities will be fully prepared to provide up to 100 trillion won ($68.12 billion) in emergency liquidity and other market stabilization measures to companies hit by the Donald Trump administration's sweeping tariffs. Kim Byoung-hwan, the chief of the Financial Services Commission, reaffirmed the government support measures during a meeting with the heads of the top five financial holding firms -- KB, Shinhan, Hana, Woori and NH Nonghyup -- w
April 7, 2025 -
Seoul shares open sharply lower amid escalating trade war sparked by Trump tariffs
South Korean stocks started sharply lower Monday amid growing fears of a global trade war triggered by US President Donald Trump's tariff plans and China's countermeasures. The benchmark Korea Composite Stock Price Index lost 103.56 points, or 4.2 percent, to 2,361.86 in the first 15 minutes of trading. With the steep drop, the bourse operator issued a sidecar order at 9:12 a.m., halting program purchasing for five minutes, after the KOSPI 200 index shed over 5 percent for more than 1 minute. It
April 7, 2025 -
S. Korea's economic conditions declined throughout Yoon administration: data
Composite coincident index of the Korean economy began steady decline four months into Yoon Suk Yeol’s presidency A key indicator of the state of South Korea's economy, which had been recovering since the pandemic, declined throughout most of Yoon Suk Yeol's presidency, government data showed Sunday. The composite coincident index of the Korean economy in January stood at 98.4, the lowest since May 2022, when Yoon took office, according to Statistics Korea. It decreased for three straight months
April 6, 2025 -
S. Korea ranks 29th in global GDP growth in Q4 amid domestic slump
South Korea ranked 29th out of 37 major economies in terms of economic growth during the fourth quarter of 2024, as weak domestic demand and heightened political uncertainty weighed on the nation's performance, a central bank report showed Sunday. Asia's fourth-largest economy posted real gross domestic product growth of 0.066 in the October-December period, placing it near the bottom among 36 Economic Cooperation and Development member countries and China, according to the report by the Bank of
April 6, 2025 -
Yoon Suk Yeol's ouster clears path for economic stimulus, but tariff fears persist
Fiscal support seems likely, but monetary easing may hinge on external shocks, inflation The Korean Constitutional Court's decision to uphold the impeachment of President Yoon Suk Yeol has alleviated some degree of political uncertainty while paving the way for stimulus measures designed to buoy domestic consumption. The past four months have seen Asia’s fourth-largest economy embroiled in its worst political turmoil in decades, following Yoon's brief attempt to impose martial law last December,
April 4, 2025 -
Seoul shares open sharply lower following Wall Street losses
South Korean stocks started sharply lower Friday in line with steep overnight Wall Street losses triggered by US President Donald Trump's tariff measure. The benchmark Korea Composite Stock Price Index lost 30.06 points, or 1.21 percent, to 2,456.64 in the first 15 minutes of trading. Overnight, Wall Street shares plunged as concerns of higher inflation and an economic downturn spread widely following Trump's tariff scheme announcement targeting America's trading partners. The Dow Jones Industri
April 4, 2025