The Bank of Japan's first interest rate hike in almost two decades has rattled the global economy, yet it may not have as much of an impact in South Korea, at least not for a while. The central bank of Japan on Tuesday announced it is lifting its short-term policy rate to a range of 0 to 0.1 percent from minus 0.1 percent, stepping away from the negative interest rate policy it had been applying since 2016 to fight chronic deflation. It also marked the central bank's first interest rat

By Marc Van de Walle A New Year is always a time to reflect on the previous year, what we might learn from it and then apply these learnings going forward. What better time for reflection than now, as we usher in the Year of the Dragon, considered one of the most auspicious creatures in the Chinese zodiac. The mythical Dragon symbolizes power, wisdom, strength, and good fortune. From an investment perspective, however, there is more you can do than wait to tap on the Dragon’s luck. Last ye

The South Korean government and local banks on Tuesday pledged to jointly invest 452 trillion won ($337.4 billion) until 2030 to tackle the climate crisis. The move aligns with the country's intensified efforts to achieve carbon neutrality by 2050 and bolster domestic firms' competitive edge in overseas markets. "This unprecedented climate crisis we face today demands action not only to enhance our companies' competitiveness but also for the generations to come," said Ki

Brides from Vietnam, grooms from US take up largest share of foreign national spouses

South Korea's financial regulator unveiled an ambitious plan Tuesday to provide 420 trillion won ($315 billion) in policy loans by 2030 to help reduce greenhouse gas emissions. Seoul has pledged to reduce its greenhouse gas emissions by 37 percent from business-as-usual levels. "There exist concerns that the global competitiveness of our exporters may dwindle should we fail to take appropriate steps to meet the increasing emissions-related regulations in other countries," the Fina

New US climate law may turn into revenue raiser for next administration to resolve fiscal deficit

South Korea and the Organization for Economic Cooperation and Development opened a joint conference in Seoul on Monday to discuss ways to help Southeast Asian countries develop and transform their financial systems. The conference will be held for two days and discuss potential problems arising from the digitalization of financial systems in the Association of Southeast Asian Nations member countries and ways to address them, according to South Korea's financial regulator, the Financial Ser

Investors upbeat on shareholder return policies under government’s ‘value-up’ program

The South Korean economy has been on a recovery track on the solid growth of exports, but disparities among sectors remain wide amid weak consumption and investment, the finance ministry said Friday. "As shown in manufacturing production and exports, the country has seen an economic recovery and a stable job market," the Ministry of Economy and Finance said in the Green Book, its monthly economic assessment report. "But the pace of recovery among sectors has been different as priv

Industry Minister Ahn Duk-geun on Thursday asked petroleum companies to refrain from increasing the prices of their products amid lingering inflation and external uncertainties. The remark came as global oil prices continued to remain volatile due to the prolonged war between Russia and Ukraine, along with the geopolitical instability in the Middle East. "The government is prioritizing taming inflation as the top task for the economy and is currently utilizing all available measures to stab

Commission-free US platform aims high with imminent Korean launch

Banking shares rally on optimism over ‘corporate value-up’ program

With losses from equity-linked securities tied to a Hong Kong index expected to reach almost 6 trillion won ($4.57 billion) this year, South Korean financial regulators announced Monday that sellers may face full compensation for the loss. The announcement follows the Financial Supervisory Service's inspection of local banks and brokerages that sold large amounts of ELS products tied to the troubled Hang Seng China Enterprises Index. From Jan. 8 to Friday, the watchdog conducted a thorough

Financial Supervisory Service Governor Lee Bok-hyun approaches the podium during a press briefing held at the regulator's headquarters in Yeouido, Seoul, on Monday. The FSS announced the results of its investigation into the possible misselling of equity-linked securities products tied to Hong Kong's Hang Seng China Enterprises Index among local financial firms, together with consumer compensation measures, on the day. (Yonhap)

South Korea's exports fell more than 13 percent on-year in the first 10 days of March due mainly to fewer working days and weak demand for vehicles, but sales of semiconductors jumped more than 20 percent, data showed Monday. Outbound shipments reached $13.54 billion in the March 1-10 period, compared with $15.64 billion tallied a year earlier, according to the data from the Korea Customs Service. Per-day exports, however, gained 8.2 percent on-year to $2.26 billion. The number of working d