Exports up 55.6% during first 10 days of March on robust chip demand

South Korea's exports jumped 55.6 percent from a year earlier in the first 10 days of March, driven by strong overseas demand for semiconductors, data showed Wednesday. Outbound shipments reached $21.5 billion in the March 1-10 period, compared with $13.8 billion tallied a year earlier, according to the data from the Korea Customs Service. It marked the country's largest exports recorded for the cited period. Imports went up 21.7 percent on-year to $19.4 billion during the period, resulting in a

March 11, 2026

Govt. to mobilize all policy tools in dealing with Middle East-related economic uncertainties

South Korea will mobilize all available economic policy tools, including a possible supplementary budget, and activate an emergency economic response system to respond to economic uncertainties stemming from an ongoing Middle East crisis, Seoul's finance chief said Wednesday. Financial markets showed heightened volatility, with the Korean won falling sharply against the US dollar and domestic fuel prices spiking following US-Israeli strikes on Iran and Tehran's retaliatory attacks in the region.

March 11, 2026

Korean won rebounds sharply after dropping to 17-yr low amid Middle East crisis

The South Korean currency gained sharply against the US dollar Tuesday, rebounding from a steep drop the previous day, after US President Donald Trump hinted that the war in the Middle East could end soon. The won opened at 1,470.8 per dollar, up 24.7 won from the previous session's 1,496.5 won. Monday's figure marked the weakest level since March 12, 2009, when the country was reeling from the global financial crisis. The won has weakened sharply since last week in line with a broad dollar rall

March 10, 2026

S. Korean economy grows 1 pct in 2025; Q4 GDP contracts 0.2 pct: BOK

The South Korean economy expanded 1 percent in 2025 amid strong exports but posted negative growth in the fourth quarter, central bank data showed Tuesday. The country's real gross domestic product -- a key measure of economic growth -- contracted 0.2 percent from the previous quarter in the October-December period, compared with its earlier estimate of a 0.3 percent contraction, according to the preliminary data from the Bank of Korea. It marked the country's first quarterly contraction since t

March 10, 2026

Lee Jae Myung’s war on housing speculation

President Lee Jae Myung has declared war on housing speculation, using X as both a megaphone and a pressure tool. “For the sake of a sensible and prosperous nation, I will rein in, by any means, real estate speculation that can ruin the country,” Lee wrote in an X post on Feb. 3. In just over a month, he has posted more than two dozen times on real estate, framing it not as a narrow property issue but as a broader distortion of the national economy. “Housing speculation robs young people of hope

March 8, 2026

S. Korea mulls adopting oil price cap system for 1st time in 30 yrs: sources

The government is considering adopting a price cap system for oil for the first time in nearly 30 years, sources said Sunday, amid concerns over rising energy prices following the escalating conflict in the Middle East. Officials began reviewing the possibility after surging global crude prices were reflected almost immediately in domestic fuel prices, rather than after the typical two-week lag, following US-Israeli strikes on Iran and Tehran's retaliatory attacks in the region. South Korea, whi

March 8, 2026

FX volatility reaches highest since COVID-19 pandemic amid Middle East tensions

The daily volatility of the Korean won against the dollar has risen to its highest level since the COVID-19 pandemic amid heightened tensions in the Middle East, data showed Sunday. The won has fluctuated sharply following the US-Israeli joint attacks on Iran on Feb. 28, with the average daily fluctuation of the won against the greenback reaching 13.2 won as of Friday, according to the economic statistics system of the Bank of Korea. The level of volatility marks the highest since March 2020, wh

March 8, 2026

Antitrust regulator to inspect gas stations for price gouging

The state antitrust regulator said Friday it will closely monitor possible price gouging practices of gas stations across the country and take necessary measures as fuel prices recently soared amid the military conflict in the Middle East. "We will mobilize all of our regional offices to check for possible collusion of gas stations, particularly those with high fuel prices, and will launch on-site investigations immediately, depending on the monitoring results, for a comprehensive response," the

March 6, 2026

S. Korea posts 5th-largest current account surplus in Jan: BOK

South Korea recorded its fifth-largest monthly current account surplus in January, driven by a semiconductor upcycle and strong exports, central bank data showed Friday. The current account surplus totaled $13.26 billion in January, down from $18.7 billion in December, according to the Bank of Korea. Compared with the same month a year earlier, however, the figure surged 397.4 percent, marking the fifth-largest monthly surplus on record. South Korea has recorded a current account surplus every m

March 6, 2026

Consumer prices rise 2% in Feb., on govt. target for 2nd straight month

South Korea's consumer prices rose 2 percent from a year earlier in February, unchanged from the previous month and precisely meeting the inflation target, government data showed Friday. The reading marks the smallest on-year increase since August, when the figure stood at 1.7 percent, according to the Ministry of Data and Statistics. It also marks the second consecutive month that inflation met the Bank of Korea's 2 percent target, and the sixth straight month the growth pace remained at 2 perc

March 6, 2026

Govt. to provide vouchers, financial aid to SMEs with Middle East exports

Emergency export vouchers and financial aid packages will be provided to small and medium-sized enterprises with exports to the Middle East starting next week to minimize damage stemming from an ongoing regional crisis, the industry ministry said Thursday. The Korea Trade-Investment Promotion Agency will operate an emergency export voucher program for SMEs with Middle East exports from Wednesday to reduce financial burden on companies facing return shipping costs and war-risk surcharges, accordi

March 5, 2026

Hyundai, Kia post record Feb. sales in U.S. on strong demand for SUV, hybrid cars

Hyundai Motor Co. and Kia Corp. reported record vehicle sales for February in the United States, driven by robust demand for sport utility vehicles and hybrid models, the automakers said Wednesday. The South Korean automakers sold a combined 137,412 vehicles in the U.S. last month, up 5 percent from a year earlier, according to the companies. Hyundai Motor, including its luxury brand Genesis, sold 71,407 units, up 5.7 percent on-year, while Kia's sales gained 4.3 percent on-year to 66,005 units.

March 4, 2026

Korean won depreciates against greenback for 3rd session amid Middle East crisis

The South Korean won depreciated further against the US dollar Wednesday, as the greenback strengthened amid an ongoing conflict in the Middle East. The won opened at 1,479 won per dollar, down 12.9 won from the previous session, extending its losses for the third consecutive session. Overnight, the currency briefly slid past the 1,500 won mark, breaching the psychologically important level for the first time since March 2009, when the country was grappling with the global financial crisis. The

March 4, 2026

Industrial output down 1.3% in Jan.; consumption, investment gain ground

South Korea's industrial output dipped from a month earlier in January amid a slowdown in manufacturing production, particularly semiconductors, while private consumption and facility investment went up, government data showed Wednesday. Industrial production dropped 1.3 percent on-month in January, marking the first decline in three months, according to the data from the Ministry of Data and Statistics. Output from the mining and manufacturing sectors, considered the backbone of the economy, co

March 4, 2026

Foreign sell-offs of S. Korean stocks hit record high in Feb.: data

Foreign investors sold a record high amount of South Korean stocks in February amid woes over artificial intelligence and dimmed hopes for rate cuts by the Federal Reserve, data showed Tuesday. According to the data from the Korea Center for International Finance (KCIF), foreigners sold a net 19.9 trillion won (US$13.5 billion) worth of local stocks last month, the highest-ever monthly amount on record. They dumped a net 22.2 trillion won of shares in the country's top two chipmakers -- Samsung

March 3, 2026