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Asia’s news chiefs convene in Seoul for solidarity talks
Top editors and publishers from 20 media outlets across 19 Asian countries are convening in Seoul this week for the annual board meeting of the Asia News Network, which will be held in conjunction with Thursday's 2025 Korea Herald HIT Forum. Founded in 1999, ANN has worked to amplify Asia’s voice in global discourse through joint reporting and closer cooperation among member newsrooms. Its annual board meeting rotates among member countries, and this year’s session takes place in Seoul against t
Oct. 1, 2025 -
Seoul, Washington strike forex transparency deal
South Korea agreed to provide the US with monthly data on foreign exchange interventions instead of the current quarterly figures, as part of efforts to boost transparency in forex market operations at the request of Washington. The Finance Ministry and US Treasury announced a joint agreement on forex policy on Tuesday as a follow-up to dialogue held in Washington in April, where the US government officially brought up the issue of currency on the agenda. “The US did not pressure Korea to apprec
Oct. 1, 2025 -
Korea posts record monthly export on chips, cars
South Korea posted record monthly exports in September, fueled by robust demand for semiconductors and cars, even as fresh US tariffs cloud the outlook, government data showed Wednesday. Outbound shipments rose 12.7 percent from a year earlier to $65.95 billion, the Trade Ministry said Wednesday. The figure surpassed the previous high of $63.8 billion set in March 2022 and marked the strongest level in more than three years. Exports have increased for four straight months. Third-quarter exports
Oct. 1, 2025 -
S. Korea's exports jump 12.7% to 42-month high in Sept.
South Korea's exports rose 12.7 percent from a year earlier in September on the back of strong demand for semiconductors, logging the largest outbound shipments in three years and six months, government data showed Wednesday. Outbound shipments came to $65.95 billion last month, according to data compiled by the Ministry of Trade and Industry. This marks the largest monthly export volume since March 2022, and the fourth straight month of on-year growth. For the third quarter, exports increased 6
Oct. 1, 2025 -
Korea to ease corporate risks with end to breach of trust crime
The government and the ruling Democratic Party of Korea on Tuesday agreed to push for abolishing breach of trust as a criminal offense, in a bid to ease excessive legal risks that hinder normal business decisions. The announcement came during a party-government council at the National Assembly, led by a government task force on rationalizing economic penalties and attended by the finance and justice ministers. “The breach of trust offense has long been criticized for its vague requirements and b
Sept. 30, 2025 -
ADB maintains S. Korea's 2025 growth forecast at 0.8%
The Asian Development Bank kept its 2025 growth outlook for the South Korean economy steady at 0.8 percent, Seoul's finance ministry said Tuesday. In July, the Manila-based bank projected 0.8 percent growth for South Korea, down 0.7 percentage point from its previous 1.5 percent forecast in April, citing slower export growth, a sluggish construction sector and a weak real estate market. The ADB's latest forecast is bleaker than the 0.9 percent growth outlooks made by the Bank of Korea, the South
Sept. 30, 2025 -
Industrial output remains flat, retail sales fall at sharpest rate in 18 months in Aug.
South Korea's industrial production remained unchanged from a month earlier in August, while retail sales posted the sharpest on-month decline in 18 months, data showed Tuesday. Retail sales, a gauge of private spending, went down 2.4 percent from a month earlier in August, marking the steepest on-month fall since February 2024, according to the data compiled by Statistics Korea. It also was the first decline in four months. Industrial output was flat compared with July, following gains in the p
Sept. 30, 2025 -
Financial regulator vows to better safeguard consumers, induce productive finance
The heads of the country's financial regulator and watchdog on Monday vowed to better protect consumers and focus on inducing productive finance. During a meeting, Lee Eog-weon, the chairman of the Financial Services Commission, and Lee Chan-jin, governor of the Financial Supervisory Service, agreed to overhaul their regulatory and supervisory schemes in a way that better tackles financial scams, cybersecurity breaches and improper sales of financial products. Their meeting came as the two agenc
Sept. 29, 2025 -
S. Korea to push for 24-hr foreign exchange market, Korean won settlement system for MSCI inclusion
South Korea will push for the 24-hour operation of its foreign exchange market and the establishment of an offshore Korean won settlement system as part of efforts to improve foreign accessibility to its capital markets, the finance ministry said Friday. The measures are being considered as part of a comprehensive road map designed to help the country get included in the developed market index by the global index provider Morgan Stanley Capital International, which will be unveiled later this ye
Sept. 26, 2025 -
Tax revenue expected to rise 9.9% in 2025 but fall short of initial projection
South Korea's tax revenue is expected to rise 9.9 percent from a year earlier in 2025 but fall short of the government's initial projection, the finance ministry said Thursday. The government expects to collect an estimated 369.9 trillion won ($263.7 billion) in taxes this year, up 33.4 trillion won from 2024, according to a tax revenue re-estimation by the Ministry of Economy and Finance. The annual tax revenue will be smaller than the projection of 372.1 trillion won made when the government p
Sept. 25, 2025 -
Hana Bank taps Central Europe with new Poland branch
Hana Bank said Wednesday it has opened a new branch in Wroclaw, the largest industrial city in southern Poland, marking a foothold in its European expansion. The opening ceremony on Tuesday was attended by South Korean Ambassador to Poland Tae Jun-youl, Hana Bank CEO Lee Ho-sung and executives from major Korean firms operating in the region, including Lee Jang-ha, head of LG Energy Solution’s Polish unit and representatives from Hyundai Rotem, SK ie Technology and Hyundai Motor Czech. The Wrocla
Sept. 24, 2025 -
S. Korean economy likely to rebound in 2026 on easing uncertainties, policy support: IMF official
South Korea's economy is expected to rebound in 2026, driven by easing uncertainties and accommodative policies, an official from the International Monetary Fund said Wednesday, calling on the country to put in efforts to revitalize domestic consumption and accelerate structural reforms to further boost growth. "Prolonged domestic political and global trade policy uncertainties have weighed on (Korea's) growth in 2025," IMF mission chief for Korea Rahul Anand said in a statement on the prelimina
Sept. 24, 2025 -
Consumer sentiment falls for 1st time in 6 months amid US tariff woes: BOK
South Korea's consumer sentiment fell for the first time in six months in September amid concerns over an export slowdown following the United States' new tariff scheme, the central bank said Wednesday. The composite consumer sentiment index stood at 110.1 this month, down 1.3 points from August, according to a survey conducted by the Bank of Korea. The index had climbed for five straight months through August, reaching its highest level since January 2018, on the back of solid exports and optim
Sept. 24, 2025 -
OECD maintains S. Korea's 2025 growth outlook at 1%
The Organization for Economic Cooperation and Development maintained its growth outlook for the South Korean economy at 1 percent this year, according to Seoul's finance ministry Tuesday. The OECD forecast Asia's fourth-largest economy to grow 2.2 percent next year, also sticking to its projection made in June, according to the Ministry of Economy and Finance. The latest projection is slightly higher than the Seoul government's estimate. The Bank of Korea raised its 2025 economic growth forecast
Sept. 23, 2025 -
Industry ministry discusses response to possible expansion of US tariffs on steel, aluminum derivatives with companies
The industry ministry said Tuesday it held a meeting with private companies to discuss South Korea's response to a potential expansion of US tariffs on steel and aluminum derivatives, as well as auto parts. The US Commerce Department is currently accepting inclusion requests from American companies to include steel and aluminum derivatives in the 50 percent tariff scheme on such products, with the process set to close next week. The move follows President Donald Trump's administration's impositi
Sept. 23, 2025