Korea Joongang Daily
Korea JoongAng Daily

Korea's forex reserves record first rebound in three months

Korea's foreign reserves rose by $208 million to $415.6 billion in December, their first increase in three months, driven by foreign bank deposits and investment gains, despite concerns about a weakening won.

2025-01-06

Won hits 15-year low after Fed signals plan to slow rate cuts

The Korean won fell to a 15-year low as the U.S. Federal Reserve signaled a slower pace of rate cuts, prompting emergency measures by Korea's government to stabilize the currency.

2024-12-19

Gov't measures to boost won draw forex reserve concerns

The heads of the Bank of Korea and the Ministry of Economy and Finance both asserted that there is no foreign exchange crisis, but policy moves to prop up the local currency have raised concerns about the measures' sustainability.

2024-12-17

Shares open higher on Fed's rate-cut hopes

Shares opened higher Friday, tracking gains on Wall Street, after weekly U.S. jobless claims data offered fresh hope for the Federal Reserve's rate cuts this year.

2024-05-10

Stocks tank as Middle East tensions spark sell-off

The main Kospi bourse fell 1.63 percent on Friday to close at 2,591.86 as investors shed risky assets with worsening tension in the Middle East.

2024-04-19

Hana opens new trading room for optimized 24-hour operations

Hana Bank celebrated the opening of its new "Hana Infinity Seoul" trading room as part of the firm's plan to expand around the globe.

2024-04-03

Yen hits 34-year low

An employee holds yen bills at Hana Bank's Counterfeit Notes Response Center in Jung District, central Seoul on Wednesday.

2024-03-27

Gov't looks to end 'Korea Discount' with foreign exchange overhaul

The Finance Ministry will facilitate foreign exchange transactions for overseas investors, a move in line with the government’s latest initiative to lure foreign investors and resolve the so-called “Korea Discount."

2024-02-06

Exporters to be able to exchange currencies through foreign brokers

The revision to the Foreign Exchange Transactions Act passed the Cabinet the same day, which is part of the government effort since earlier this year to improve Korea's foreign exchange system to make foreign funds more accessible.

2023-11-10

Gov't to allow direct FX trading for retail investors

Retail investors can directly trade on foreign exchange markets using their own devices, with the Korean government allowing financial institutions to provide real-time pricing information and foreign exchange orders to their clients.

2023-07-12