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Samsung Electronics Chairman Lee Jae-yong tops stock-rich list
Samsung Electronics Co. Chairman Lee Jae-yong retained the top spot among South Korea's stock-rich individuals, with his equity holdings increasing sharply over the past year amid a strong rally in the local stock market, industry data showed Wednesday. The top 100 shareholders of listed companies held shares worth a combined 177.2 trillion won ($119.6 billion) as of Friday, up 64.6 percent from 107.6 trillion won at the end of last year, according to the data by corporate tracker CEO Score. Lee
Dec. 24, 2025 -
Govt. expands natl. oil reserves to 100m barrels to better manage petroleum supply
The government has expanded the country's oil reserves to 100 million barrels as part of efforts to boost its response capabilities to possible global oil supply disruptions, the industry ministry said Monday. With the arrival of the last oil tanker carrying strategic petroleum reserves this year, the government's total oil stockpile has reached 100 million barrels, according to the Ministry of Trade, Industry and Resources. The private sector separately holds a combined 95 million barrels of pe
Dec. 22, 2025 -
Financial watchdog unveils restructuring aimed at strengthening consumer protection
The Financial Supervisory Service on Monday announced a restructuring plan aimed at strengthening consumer protection, including the creation of a new division reporting directly to its governor. Under the restructuring plan, the existing consumer protection office will be upgraded with supervisory functions and reorganized as the division that will oversee consumer protection across all sectors. It marks the first major restructuring since Lee Chan-jin became the FSS governor in August. The env
Dec. 22, 2025 -
Exports log 6.8% on-year gain during first 20 days of Dec.
South Korea's exports grew 6.8 percent from a year earlier in the first 20 days of this month, mainly on the back of strong global demand for semiconductors, data showed Monday. Outbound shipments reached $43 billion in the Dec. 1-20 period, compared with $40 billion tallied over the same period last year, according to the data from the Korea Customs Service. This marks an all-time high for the period. The previous record was set last year. Such an increase comes despite US tariff measures, than
Dec. 22, 2025 -
KEPCO keeps electricity rate frozen for Q1
The state-run Korea Electric Power Corp. said Monday it will freeze electricity rates for the first quarter of next year despite recent declines in global energy prices as part of efforts to improve its financial stability. KEPCO said it will keep the adjusted unit fuel cost, a key part of the country's electricity rates, unchanged at the maximum level of 5 won per kilowatt-hour for the January-March period. The company has maintained the adjusted unit fuel cost at 5 won since the third quarter
Dec. 22, 2025 -
Prices of imported agricultural goods rise amid strong US dollar
The prices of major imported agricultural goods in South Korea have risen sharply in recent years, outpacing global price increases due to the weakening of the South Korean won against the US dollar, data showed Sunday. According to the Bank of Korea, the import price index for coffee came to 307.12 in November in US dollar terms and 379.71 in Korean won terms, with 2020 set as the base year at 100. The figures indicate that global coffee prices have risen about threefold over the past five year
Dec. 21, 2025 -
Korea targets AI, chips, batteries with W150tr growth fund
The South Korean government has designated seven sectors, across artificial intelligence, semiconductors and batteries, as the first strategic areas to receive support from the country’s 150 trillion won ($100 billion) growth fund, according to a policy briefing by the Financial Services Commission, Friday. Named “Public Growth Fund,” the public-private fund is one of the key economic pledges made by President Lee Jae Myung. For the first round of execution, the support will be directed at seven
Dec. 19, 2025 -
Financial sector's overseas real estate investment down in Q2
The financial sector's investment in overseas real estate fell in the second quarter from the previous three months amid weak market conditions, data showed Friday. Banks, insurers and other financial institutions had held an outstanding 54.5 trillion won ($36.9 billion) worth of investment in overseas real estate as of end-June, down 1 trillion won from three months earlier, according to the data from the Financial Supervisory Service. Insurers' outstanding investment in overseas real estate st
Dec. 19, 2025 -
Korea overhauls forex rules to stabilize won
The Korean government on Thursday rolled out a package of measures to overhaul its foreign exchange framework, aiming to correct structural supply-demand imbalances blamed for the won’s recent weakness. With the Korean won struggling to hold its value against the dollar, tumbling to its weakest in eight months on the prior day, the local authorities are deploying measures across multiple fronts to support the won. “In the past, when Korea was a net external debtor, we were focused on blocking do
Dec. 18, 2025 -
Financial authorities reaffirm timely response against volatile currency market
The country's financial authorities on Thursday reaffirmed that they will take timely steps, if necessary, to stem volatility in the currency market. In a meeting on the financial market, Finance Minister Koo Yun-cheol said the authorities will step up the market monitoring and reconfirmed timely actions against the won's decline, if necessary. The meeting was also attended by Lee Eog-weon, chairman of the Financial Services Commission; Lee Chan-jin, governor of the Financial Supervisory Service
Dec. 18, 2025 -
Seoul tax office sets up dedicated hotline for foreign firms
The Seoul regional tax office has set up a dedicated hotline for foreign-invested companies as part of a broader push to streamline tax consultations and ease regulatory friction. The National Tax Service's Seoul Regional Office said Wednesday that Commissioner Kim Jae-woong met executives from foreign-invested companies at a tax policy roundtable held at the Federation of Korean Foreign Enterprises earlier in the day. The meeting was part of an outreach effort to strengthen communication with o
Dec. 17, 2025 -
BOK chief plays down FX impact of $200b US investment
South Korea’s central bank chief pushed back Tuesday against claims that the country’s planned $200 billion investment in the US would weaken the won over the long term, calling such concerns an “overstatement.” Under the Korea-US tariff deal, Seoul agreed to invest $200 billion in cash in the US, with the phased installments capped at $20 billion per year. The sum has been cited as one of the major factors weighing on the Korean won’s value against the dollar. Bank of Korea Gov. Rhee Chang-yong
Dec. 17, 2025 -
Govt. to invest 4.5 tr won in securing overseas logistics hubs for exporters
The government will invest at least 4.5 trillion won ($3.06 billion) into securing logistics hubs overseas to support export operations of South Korean companies, according to officials Tuesday. The Ministry of Oceans and Fisheries unveiled the plan during a meeting of ministers related to industrial competitiveness, citing the country's need to invest more in overseas logistics centers to help exporters. Of overseas logistics centers operated by 15 major domestic logistics firms, only 8.8 perce
Dec. 16, 2025 -
Oversight tightened on national property sales
South Korea is tightening oversight of national property disposals, requiring parliamentary approval for sales valued above 30 billion won ($20.3 million) and effectively banning discounted transactions. The Finance Ministry said Monday the measures will be introduced through revisions to national property disposal regulations, following November orders from President Lee Jae Myung to halt all ongoing sales amid criticism that state assets had been sold at steep discounts under the previous admi
Dec. 15, 2025 -
Authorities warn of bold, preemptive steps against volatile markets
The financial authorities said Monday that they will take bold, preemptive measures to rein in market volatility amid the falling Korean won and soaring bond yields. In a meeting with private experts and high ranking officials from related government agencies, Lee Eog-weon, chairman of the Financial Services Commission, said the country's financial markets had shown signs of stability during the second half of the year on an improvement in economic conditions and a bull run on the stock market.
Dec. 15, 2025