Industrial output falls in Oct. on base effect of chip production; retail sales rebound

South Korea's industrial output fell at the sharpest pace in over five years last month, government data showed Friday, largely due to a base effect in semiconductor production despite the industry's ongoing upcycle. Industrial production went down 2.5 percent from a month earlier in October, according to the data from the Ministry of Data and Statistics. It marks the steepest monthly fall since a 2.9 percent decline in February 2020. The output of the mining and manufacturing sector, considered

Nov. 28, 2025

Weak won keeps BOK on hold despite growth upgrade

South Korea’s central bank kept its benchmark interest rate unchanged at 2.5 percent on Thursday, citing the won’s rapid depreciation as a key risk factor. The rate freeze was supported by five out of six members of the monetary policy board, excluding Bank of Korea Gov. Rhee Chang-yong, whose individual vote is not disclosed. One of the six members suggested bringing down the rate by 0.25 percentage point. Regarding the recent devaluation of the won, Rhee said, "One-sided movement (of the curre

Nov. 27, 2025

Weak won keeps BOK on hold despite growth upgrade

South Korea’s central bank kept its benchmark interest rate unchanged at 2.5 percent on Thursday, citing the won’s rapid depreciation as a key risk factor. The Bank of Korea said the weakening won was the main reason for extending its rate freeze, in place since May. A rate cut now would widen the rate gap with the US Federal Reserve, potentially triggering capital outflows and adding further downward pressure on the currency. The won closed at 1,477.1 per dollar on Monday, its weakest level sin

Nov. 27, 2025

Seoul to set up special corporation for $350b investment pledge to US

South Korea will "temporarily" establish a strategic investment corporation that will operate a special fund for the country's $350 billion investment in the United States as agreed under a bilateral tariff deal finalized last month, the government said Wednesday. The envisioned corporation, tentatively named Korea-US Strategic Investment Corp., will be created for a maximum 20-year operation under a special bill submitted by the ruling Democratic Party to support Seoul's investment plans in the

Nov. 26, 2025

Finance chief says S. Korea's economy at 'turning point' to reshape growth trajectory for decades

Finance Minister Koo Yun-cheol said Wednesday that South Korea's economy is at a "turning point" that will shape its growth trajectory for decades, vowing to push ahead with projects aimed at creating new growth engines. The government earlier announced 15 flagship projects under President Lee Jae Myung's five-year economic development blueprint to build what it calls a "super-innovation economy." The government views the next five years as the nation's final window to secure long-term, sustaina

Nov. 26, 2025

Biz sentiment reaches 1-yr high in Nov. on semiconductor boom: BOK survey

Business sentiment in South Korea rose to the highest level in more than a year in November, supported by an ongoing boom in the semiconductor industry and improving consumer sentiment, a central bank survey showed Wednesday. The Composite Business Sentiment Index for all industries came to 92.1 this month, up 1.5 points from October, according to the survey from the Bank of Korea. It marked the highest level since October 2024, when the index reached 92.5, and the largest monthly increase since

Nov. 26, 2025

Seoul kicks off annual export fair with K-consumer goods on center stage

South Korea's major export fair kicked off Wednesday, with this year's focus on promoting South Korean consumer goods, such as beauty and food products, amid soaring global popularity of Korean culture, the industry ministry said. The 2025 Korea Grand Sourcing Fair is set to run through Thursday in Seoul, bringing together 880 Korean firms and 150 foreign buyers from 30 countries, including US-based retail giant Walmart, Japanese retailer Marui and Chinese variety store chain Miniso, according t

Nov. 26, 2025

Seoul’s foreign-exchange defense faces rising US pressure

As the National Pension Service moves to help stabilize the weakening won, a new challenge looms: mounting pressure from Washington for greater transparency in Korea’s foreign exchange practices. On Monday, South Korean foreign exchange authorities and the NPS held the first meeting of a new consultative body aimed at addressing the won’s slide against the dollar. Although officials did not disclose specific measures, several options are under consideration, and each carries political and regula

Nov. 25, 2025

[Photo News] Currency jitters return

The Korean won is quoted at 1,472 per dollar at a currency exchange booth in Myeong-dong, central Seoul, Tuesday. With the won sliding to a seven-month low against the dollar, the National Pension Service is set to take action to stabilize the currency's valuation, having joined hands with the forex authorities through a consultative body. But with mounting pressure from Washington for greater transparency in Korea’s foreign exchange practices, its intervention could be limited. (Yonhap)

Nov. 25, 2025

Record-high number of 30-somethings in Seoul don't own homes: data

Only a quarter of Seoul residents in their 30s are homeowners, government data showed Monday, as housing issues persist for South Korea's youth. A total of 527,729 heads of household in their 30s in the nation's capital did not own homes in 2024, according to the Ministry of Data and Statistics. This marks an increase of 17,215 from 2023 and is the highest figure since the government began keeping track in 2015. The number of 30-somethings without a home had decreased from 475,606 in 2015 to 456

Nov. 24, 2025

Won's real effective exchange rate sinks to lowest level in 16 years

The South Korean won's real effective exchange rate sank to the lowest level in about 16 years, according to data released Sunday. According to the data by the Bank for International Settlements released by the Bank of Korea, the local currency's REER reached 89.09 at the end of October, down 1.44 points from a month earlier. It marked the weakest level in 16 years and two months, since August 2009, when the REER stood at 88.88. It is also lower than the 89.29 posted at the end of March, when do

Nov. 23, 2025

Exports log 8.2% on-year gain during first 20 days of Nov.

South Korea's exports recorded an 8.2 percent on-year gain in the first 20 days of November mainly on the back of strong global demand for semiconductors and automobiles, data showed Friday. Outbound shipments reached US$38.5 billion from Nov. 1 to Thursday, compared with $35.6 billion tallied a year earlier, according to the data from the Korea Customs Service. Imports increased 3.7 percent on-year to $36.1 billion during the period, resulting in a trade surplus of $2.4 billion. The agency attr

Nov. 21, 2025

Producer prices rise for 2nd consecutive month in Oct.: BOK

South Korea's producer prices rose for the second consecutive month in October, driven by increases in prices of computers, and electronic and optical devices, central bank data showed Friday. The producer price index, a key barometer of future consumer inflation, gained 0.2 percent on-month to 120.82, following a 0.4 percent increase in September, according to preliminary data from the Bank of Korea. Compared with a year earlier, producer prices increased 1.5 percent last month, extending their

Nov. 21, 2025

Has Korea’s Nvidia fever gone too far for the won?

As the Korean won struggles to gain ground against the US dollar despite a record trade surplus and strong foreign buying of local equities, attention is turning to an unlikely culprit: Korean retail investors piling into US stocks. The won has been sliding since July, losing nearly 100 won per dollar over four months. On Nov. 13, it briefly touched 1,475.4 won per dollar, its weakest point in seven months, before verbal intervention from authorities nudged it back toward the 1,450 range. Still,

Nov. 20, 2025

[Thailand Forum] Thailand seeks ‘third wave’ of Korean investment

BANGKOK — Thailand is courting a new era of Korean investment in advanced industries with a coordinated package that spans national tax incentives, special economic zones and turnkey factory sites, officials from investment agencies said at the Ignite Thailand–Korea Business Forum in Bangkok on Monday. Narit Therdsteerasukdi, secretary general of the Thailand Board of Investment, opened the session by urging Korean firms to look beyond the country’s traditional manufacturing strengths. “For over

Nov. 20, 2025