Korea to revamp inheritance tax for 1st time in 75 years

Individual shares to be taxed separately, ending decadesold estate-based system South Korea is planning to overhaul its inheritance tax system in 2028, shifting from a tax on entire estates to a levy on each inheritor's individual share. The Ministry of Economy and Finance announced the plan on Wednesday, aiming to introduce the long-discussed "inheritance acquisition system." This marks the first major revision to Korea's inheritance tax system in 75 years. Under the current system, taxes are l

March 12, 2025

NPS to boost global asset allocation to 60% by 2028

Korea's national pension fund adopts new porfolio system to enhance investment flexibility With 1,200 trillion won ($820 billion) in assets under management, South Korea's National Pension Service plans to intensify its focus on global and alternative investments to drive higher returns. The newly adopted "reference portfolio" system is expected to accelerate this shift by increasing flexibility in asset allocation. "The NPS is steadily increasing its allocation to global and alternative investm

March 11, 2025

Korea’s self-employed population falls to pandemic levels

The number of self-employed individuals in Korea has plunged to crisis levels, with 2024 marking the first annual decline in three years. While sluggish domestic demand is a key factor, experts note the downturn is part of a broader structural shift reshaping the economy. According to Statistics Korea, the self-employed population stood at 5.5 million in January, down more than 200,000 from the previous two months. On an annual basis, the self-employed population fell to 5.66 million in 2024, a

March 10, 2025

Foreign investors exit Korean stocks. Will short selling bring them back?

Analyst warns against overestimating short selling’s influence, pointing to foreign investors' broader risk assessments Amid foreign investors' months-long selling streak of Korean stocks, market watchers are closely monitoring whether the resumption of short selling could drive capital inflows or further dampen investor sentiment. Since September, foreign investors have been net sellers in the Kospi for seven consecutive months, offloading a total of 27.7 trillion won ($19.1 billion). This mark

March 9, 2025

Kyobo Life ends put option dispute with Affinity, GIC

Affinity and GIC reportedly exits at 234,000 won per share, above Affirma's earlier settlement price of 198,000 won Kyobo Life Insurance said Friday that its financial investors Affinity Equity Partners and GIC agreed to offload the stake they hold in the insurer, ending a prolonged legal dispute over a put option. The South Korean life insurer announced that the two investors decided to sell their stakes to financial firms, including Shinhan Securities. Affinity sold its 9.05 percent stake, whi

March 7, 2025

[Photo News] KB Financial chief at MWC

KB Financial Group Chair and CEO Yang Jong-hee (second from left) tours exhibition booths at this week's Mobile World Congress trade show in Barcelona, Spain, alongside global strategy chief Lee Jae-keun (second from right) and digital strategy chief Lee Chang-kwon (far right). On the sidelines of the telecom industry's largest annual gathering, Yang also met with KT CEO Kim Young-shub to discuss potential mobile innovations in finance. (KB Financial Group)

March 6, 2025

Retail, finance sectors to see minimal impact from Homeplus’ debt restructuring

Homeplus’ W2tr debt is manageable, no systemic risk: analysts As South Korea's retail industry grapples with the shock of its second-largest supermarket chain entering court rehabilitation, market watchers largely believe that Homeplus' debt isn’t substantial enough to trigger a sector-wide crisis or destabilize the local financial industry. Industry reports on Wednesday show that Homeplus holds around 2 trillion won ($1.38 billion) in debt from local financial institutions, with Meritz Financia

March 5, 2025

Bitcoin tanks amid escalating tariff tensions

President Trump's remarks continue to rattle volatile crypto market The recent crypto rally fueled by the US strategic stockpile plan was short-lived, with bitcoin tumbling nearly 10 percent as global markets reeled from uncertainty over proposed US tariffs. As of 5:00 p.m. Tuesday, bitcoin was trading at around $83,000 globally, down nearly 10 percent from the previous day, erasing $1.65 trillion in market value, according to CoinMarketCap. In South Korea, it was priced at approximately 126 mil

March 4, 2025

[Advertorial] Eximbank's London bond

Export-Import Bank of Korea CEO Yoon Hee-sung (center right) celebrates the listing of a new global bond at the London Stock Exchange on Friday, joined by LSE Deputy CEO Charlie Walker (center left). The $3 billion issuance marks the state-run policy bank's first global bond offering this year. (Export-Import Bank of Korea)

March 3, 2025

Financial regulators, banking heads to meet amid market instability

South Korea's financial regulators are set to meet with the heads of major financial groups next week amid escalating political tension surrounding President Yoon Suk Yeol’s impeachment motion. The Financial Services Commission is arranging a meeting with the heads of major financial groups, including KB, Shinhan, Hana, Woori and NongHyup, though the date remains unconfirmed. An official from one of the groups indicated that the meeting, initially set for Thursday, was canceled on Sat

Dec. 8, 2024