🇰🇷 South Korea · Finance & markets, Economy
74 storiesNew York comptroller projects Wall Street profits above $90bn, record bonuses
New York State Comptroller Thomas DiNapoli estimated the state's securities industry will earn more than $90 billion (about 120 trillion won) this year, up from $65.1 billion last year, and that Wall Street bonuses will rise again to a reco…
New York stocks close higher; S&P 500 and Nasdaq hit record highs
New York's main stock indices closed higher, with Kukmin Ilbo reporting SpaceX up 7.62% and Asia Economy noting the rise came even as the 10-year US Treasury yield renewed a high. In the following US session, Chosun Ilbo reported the S&P 50…
Korean court suspends market-cap delisting decisions; exchange halts two more exits
Seoul Southern District Court Civil Division 51 granted injunctions on Oct 2 suspending the Korea Exchange's delisting decisions against KOSPI-listed Joo Yeon Tech and KOSDAQ-listed KM Pharma until a main ruling. The court questioned the 45…
Nvidia sets second straight record close; Korean AI supply chain shares rally
Nvidia closed 2.1% higher at $238.90 on October 5 in New York, a second consecutive record close, lifting its market capitalisation to about $5.76 trillion and putting the first $6 trillion valuation within reach. Korean outlets also report…
Foreign investment banks raise South Korea 2026 growth forecast to 3.5%
Eight major overseas investment banks now expect South Korea's economy to grow 3.5% in 2026 on average, up 0.2 percentage points from a month earlier, according to the International Finance Center. All eight forecast growth of at least 3%, …
Nasdaq closes at record high as AI stocks rally despite rising Treasury yields
US stocks rose on October 5 local time, with the Nasdaq Composite closing at a record high as technology and AI-related shares gained despite rising Treasury yields. Yonhap reported the Dow rose 0.18% to 51,267.90 and the S&P 500 gained 0.6…
US August trade deficit rises 13.7% to $105.6bn, largest since March 2025
The US goods and services trade deficit widened 13.7% in August from the previous month to $105.6bn, the largest gap since March 2025 and above the $102bn Dow Jones consensus, according to the Commerce Department. Imports reached a record $…
Musk regains trillionaire status as SpaceX shares jump 7.63%
SpaceX shares closed 7.63% higher at $171.09 on Oct. 5, their highest level in about three months, after Morgan Stanley set a $300 target price. Forbes put Elon Musk's net worth at $1.046 trillion (about 1,400 trillion won), returning him t…
South Korea's FX reserves fall $1.72bn in September on US investment funding
South Korea's foreign exchange reserves stood at $440.56bn at the end of September, down $17.2bn from $442.28bn a month earlier, the Bank of Korea said on Oct 6 — the first decline in four months. The central bank cited a fall in financial …
Second National Growth Fund round sells 316.2 bln won in four days, 52.7% of target
The second round of South Korea's state-backed National Participation National Growth Fund sold 316.2 billion won in its first four days, 52.7% of its 600 billion won target, the Financial Services Commission said. The remaining 283.43 bill…
Rival parties clash at Seoul audit over single-stock leveraged ETF losses
Ruling and opposition lawmakers clashed at the National Assembly's Strategy and Finance Committee audit of the finance ministry on October 6 over single-stock leveraged ETFs and related documents. The opposition demanded presidential office…
New York stocks open mixed as 10-year Treasury yield holds near 5.3%
New York's main stock indices opened mixed on October 5, with the Dow Jones Industrial Average down about 0.27% as the 10-year US Treasury yield held around 5.3%, a level Asia Economy described as the highest in several years. The S&P 500 a…
Youth Future Savings Account second round opens Oct 7 with up to 19.4% effective rate
The second round of applications for South Korea's Youth Future Savings Account runs from Oct 7 to Oct 16, with the first two days split by odd and even birth years, the Financial Services Commission and the Korea Inclusive Finance Agency s…
Korea finance minister confirms $2.4bn first US investment remittance
Deputy Prime Minister and Finance Minister Lee Hyung-il confirmed that $2.4 billion was sent to the United States on October 1 as the first tranche of South Korean investment there, answering a lawmaker's question at a National Assembly aud…
Seoul apartment deals under 1.5 bn won reach 79% after tax reform plan
About 79% of Seoul apartment sales contracted since the government's Aug. 3 tax reform plan were priced at 1.5 billion won or below, according to an analysis of Ministry of Land, Infrastructure and Transport real transaction data. The share…
Korea's financial investment association joins IIFA board talks in Toronto, plans Japan MOU
The Korea Financial Investment Association said it is attending the 39th annual meeting of the International Investment Funds Association (IIFA) in Toronto from October 5 as a board member, discussing international regulatory cooperation an…
Kospi slips below 7,000 after holiday open; Kosdaq gains about 2%
South Korea's Kospi opened at 7,044.67 on Oct. 6, up 40.93 points (0.58%), the first session after the Gaecheonjeol holiday, and the Kosdaq opened at 902.16, up 8.87 points (0.99%). The Kospi gave back the gain within minutes and was at 6,9…
KOSDAQ closes at 919.92, up 2.98%, led by Jusung Engineering and biotech
The KOSDAQ closed at 919.92 on October 6, up 26.63 points, or 2.98%, after opening at 902.16, according to Yonhap, Asia Economy, Maeil Business and Chosun Ilbo. Jusung Engineering gained roughly 15% to 17% during the session; Asia Economy a…
Hanam mayor sets 10 trillion won investment target for 2030
Hanam Mayor Lee Hyun-jae said on October 6 that the city will seek to attract 10 trillion won in investment by 2030 and become a self-sufficient “jik-ju-rak” city where people work, live and enjoy leisure. The plans include a roughly 3 tril…
Korea's Lee: $2.4bn sent for Texas power plant, $10bn nuclear payment pending
Deputy Prime Minister and Finance Minister Lee Hyung-il told a National Assembly audit on October 6 that $2.4bn was sent to the United States on October 1 for a gas-fired power plant serving AI data centers in Texas, the first Korea-US stra…