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Stablecoins can cut costs of cross-border payments: Woori Financial digital chief
Woori Financial Group is exploring global partnerships to expand stablecoin-based cross-border payments as the government moves toward regulating digital assets. “Companies with overseas subsidiaries constantly need to send money abroad,” Ok Il-jin, executive vice president of digital innovation at Woori Financial, said in an interview with Herald Business in Seoul. “Stablecoins can significantly shorten settlement times and reduce transaction costs.” The group is reviewing ways to integrate sta
March 10, 2026 -
Kospi rebounds 5% as Middle East tensions ease
South Korea’s benchmark Kospi surged more than 5 percent in early trading Tuesday, rebounding from the previous day’s steep sell-off as expectations grew for an early end to the conflict in the Middle East. After US President Donald Trump said Monday that the war with Iran “is very complete,” oil prices slipped below $90 per barrel, lifting global stock markets, including those in Korea. The Kospi opened sharply higher at 5,523.21, up 5.17 percent from the previous session. The index extended it
March 10, 2026 -
Seoul shares open over 5 pct higher as Trump hints Iran war nearing end
South Korean stocks started sharply higher Tuesday, a day after a steep decline, as US President Donald Trump hinted the US-Iran war "is very complete." The Korean won also sharply gained ground against the greenback. The benchmark Korea Composite Stock Price Index rose 248.63 points, or 4.73 percent, to 5,500.5 as of 9:15 a.m. Program trading of the benchmark Korea Composite Stock Price Index was suspended for five minutes at 9:06 a.m. A sidecar is triggered by the Korea Exchange when the KOSPI
March 10, 2026 -
Seoul shares sink nearly 6 pct amid Iran crisis, crude price hike; won sharply down
South Korean stocks fell nearly 6 percent Monday, with the main bourse operator temporarily suspending trading during the morning amid extreme market volatility caused by US-Israeli airstrikes on Iran. The local currency fell sharply against the greenback. The Korea Composite Stock Price Index surrendered 333 points, or 5.96 percent, to close at 5,251.87. In the morning, the Korea Exchange activated a circuit breaker, suspending all trading on the main bourse for 20 minutes after the main index
March 9, 2026 -
Kospi plunges, won weakens as oil shock rattles markets
A surge in global oil prices triggered by the war in the Middle East rattled investors Monday, raising concerns about renewed global inflation pressures and weighing heavily on both South Korea’s stock market and the local currency. Higher oil prices are stoking inflation concerns for Korea, a country heavily dependent on energy imports. Rising import costs reduce production efficiency and could deal a major blow across the industrial supply chain, putting additional pressure on the bourse. Pric
March 9, 2026 -
Kospi tumbles over 8%, triggers circuit breaker
South Korea’s benchmark Kospi tumbled over 8 percent in trading Monday, prompting the activation of a circuit breaker, a 20-minute suspension on trading to curb excessive volatility. The Korea Exchange activated a circuit breaker on the Kospi at around 10:31 a.m., after the index fell more than 8 percent in the course of just over a minute. It was the second activation of a circuit breaker on the main bourse this year. At the time of the activation, the Kospi stood at 5,132.07 points, shedding 8
March 9, 2026 -
Korean won sharply depreciates against greenback over Middle East crisis
The South Korean won depreciated sharply against the US dollar Monday, hitting its lowest point since the 2008 global financial crisis, as oil prices spiked amid the expanding conflict in the Middle East. The won traded at 1,494.55 won per dollar as of 9:45 a.m., down 19.05 won from the previous session. It marked the lowest intraday won-dollar rate since March 12, 2009, when the rate hit 1,500 won. Investor sentiment was dampened by instability in global energy prices. The US benchmark West Tex
March 9, 2026 -
Kospi sinks over 6% as oil surge triggers sell-side sidecar
South Korea’s benchmark Kospi plunged in early trading Monday as surging oil prices triggered by the US-Israel war with Iran rattled global markets, prompting the activation of a sell-side sidecar designed to curb excessive volatility. The Korean won also weakened sharply against the dollar. The Kospi opened at 5,265.37, down 5.72 percent from the previous session, and extended losses to as low as 5,171.53 in early trading. As of 9:35 a.m., the index was trading at 5,234.82, down 6.27 percent. A
March 9, 2026 -
Seoul shares plunge nearly 6 pct; KRX issues sidecar; won sharply down
South Korean stocks opened nearly 6 percent lower Monday over the escalating geopolitics in the Middle East and rising international oil prices, prompting the main bourse operator to issue a sell-side sidecar. The benchmark Korea Composite Stock Price Index lost 334.55 points, or 5.99 percent, to 5,250.32 as of 9:15 a.m. Program trading of the benchmark Korea Composite Stock Price Index was suspended for five minutes at 9:06 a.m., according to the Korea Exchange. A sidecar is triggered when the
March 9, 2026 -
Time to buy Korean won: FX strategist
The Korean won is poised for a rebound, making the deeply undervalued currency an appealing bet for investors, particularly when paired against the overvalued Thai baht, according to a seasoned foreign exchange strategist. Before the US-Israeli strikes on Iran that rattled global markets earlier this month, the Korean equity market had been booming; the benchmark Kospi briefly topped the 6,300 level for the first time, roughly doubling from a year earlier. Despite the rally in stocks, the local
March 8, 2026 -
Seoul shares end flat amid prolonged Iran crisis; won declines
South Korean stocks pared earlier losses to close nearly unchanged Friday on a growing appetite for autos and defense firms amid the ongoing Middle East crisis. The local currency fell against the US dollar. Starting 1.66 percent lower, the Korea Composite Stock Price Index turned positive in the afternoon to close at 5,584.87, up 0.02 percent, or 0.97 point. The index has suffered an extreme rout this week in the wake of the Middle East conflict, tumbling 7.24 percent and 12.06 percent Tuesday
March 6, 2026 -
Seoul shares open lower after strong rebound amid prolonged Iran crisis
South Korean stocks started lower Friday after a 10 percent gain the previous session as a prolonged Iran crisis rekindled oil supply woes. Opening 1.66 percent lower, the benchmark Korea Composite Stock Price Index lost 24.51 points, or 0.44 percent, to 5,559.39 in the first 15 minutes of trading. The index has suffered an extreme rout this week in the wake of the Middle East conflict, tumbling 7.24 percent and 12.06 percent on Tuesday and Wednesday, respectively, before soaring 9.63 percent Th
March 6, 2026 -
Kospi roars back after 2-day rout
South Korean stocks staged a sharp rebound Thursday, partially recovering from a two-day rout that rattled local markets. Surging buying pressure lifted the benchmark Kospi more than 9 percent and the secondary Kosdaq over 14 percent, triggering buy-side sidecars on both bourses. Amid market turbulence, President Lee Jae Myung urged the government to swiftly implement the 100 trillion won ($68 billion) market stabilization program designed to curb instability in the capital market. “We must resp
March 5, 2026 -
Korean stocks rebound, prompt buy curbs
South Korean stocks staged a sharp rebound in early trading Thursday, triggering buy-side sidecars on both the main and secondary bourses. The benchmark Kospi opened 3.09 percent higher at 5,250.92, compared with the previous session, according to the Korea Exchange. The index swiftly extended gains after the opening bell, surging 10.82 percent to 5,644.91 as of 9:40 a.m. Earlier, it even touched an intraday high of 5,715.3. Amid the steep early rally, buy-side sidecars were activated on both th
March 5, 2026 -
Seoul stocks rebound after record crash, triggering sidecar
South Korean stocks started sharply higher Thursday after the previous session's daily record drop of over 12 percent on fears over a prolonged Iran crisis, while Wall Street rebounded and oil prices calmed. After opening 3.09 percent higher, the benchmark Korea Composite Stock Price Index rose 559.78 points, or 10.99 percent, to 5.653.32 in the first 20 minutes of trading. The Korea Exchange, the country's main bourse operator, activated a five-minute buy-side sidecar six minutes after the open
March 5, 2026