Journalist
Ryu Yuna류윤아
Julia37@ajupress.com
ReporterFinancial Supervisory Service (FSS) & finance, capital markets, Southeast Asian affairs
Yuna Ryu covers finance, capital markets and Southeast Asian affairs.
She is drawn to the questions that numbers raise and the stories that data alone cannot answer.
Prior to journalism, she worked at Hyundai Motor Company and the Singapore Chamber of Commerce, focusing on business strategy and international affairs. She has also hosted diplomatic receptions and international conferences as an MC.
Ryu holds a master's degree in Media and Communication from Korea University, where her research focused on neuroscience-based studies of media effects. "Beyond every statistic is a human story waiting to be heard."
She is drawn to the questions that numbers raise and the stories that data alone cannot answer.
Prior to journalism, she worked at Hyundai Motor Company and the Singapore Chamber of Commerce, focusing on business strategy and international affairs. She has also hosted diplomatic receptions and international conferences as an MC.
Ryu holds a master's degree in Media and Communication from Korea University, where her research focused on neuroscience-based studies of media effects. "Beyond every statistic is a human story waiting to be heard."
Latest by Ryu Yuna
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KOSPI opens lower as foreign selling hits chipmakers SEOUL, July 1 (AJP) - South Korea's benchmark KOSPI opened lower on Wednesday despite strong overnight gains in U.S. tech stocks, as foreign investors shrugged off a global semiconductor rally. With less than a couple of hours of trading, the index fell 1.62 percent to 8,339.34, while the junior KOSDAQ rose 2.84 percent to 942.21. The sluggish start came despite a strong performance on Wall Street overnight, with the Philadelphia Semiconductor Index surging 3.92 percent, while the Nasdaq Composite gained 1.52 percent and the S&P 500 advanced 0.79 percent, as investors piled back into technology shares. Foreign brokerages such as Citigroup and JPMorgan ranked among the top sellers of both Samsung Electronics and SK hynix stocks, suggesting foreign investors continued to take profits after the two South Korean chipmakers' strong run so far this year. Foreigners sold a net 430.4 billion won (US$315 million) worth of shares in early morning trade, while institutional investors bought a net 445.7 billion won. The bulk of the selling was concentrated in chip-related stocks, with foreigners offloading a net 299.5 billion won and retail investors selling 8.3 billion won, while institutions bought a net 323.2 billion won. The selling pushed Samsung Electronics down 2.02 percent to 327,250 won, after briefly trading higher at the open. SK hynix also reversed early gains, slipping 1.62 percent to 2.607 million won after rising as much as 2.75 percent. Investors appeared cautious, watching whether the National Pension Service would reduce its domestic stock holdings after resuming portfolio adjustments that had been paused through the end of June. At the same time, offshore cryptocurrency exchanges continued to roll out increasingly leveraged futures tied to South Korean stocks, allowing investors to make bigger bets on market moves. Some products offer effective leverage of up to 150 times the benchmark index's daily performance, raising concerns that even modest market swings could lead to outsized gains or losses. Because the products are offered through offshore exchanges, they remain beyond the direct oversight of South Korean financial regulators. Other heavyweight sectors were mixed. Battery and biotech shares were mixed. LG Energy Solution fell 1.66 percent to 356,000 won, while Samsung Biologics edged down 0.97 percent to 1.3775 million won. Celltrion gained 1.44 percent to 175,800 won. Auto-related stocks traded higher, with Hyundai Motor adding 0.81 percent to 499,000 won and Kia climbing 3.62 percent to 143,000 won. Financial stocks were mixed. KB Financial rose 0.75 percent to 160,200 won, while Shinhan Financial Group gained 2.51 percent to 98,200 won. Samsung Life Insurance fell 2.00 percent to 393,000 won. Industrial and defense shares outperformed. HD Hyundai Heavy Industries advanced 1.52 percent to 601,000 won, Doosan Enerbility gained 3.23 percent to 89,600 won, Hanwha Aerospace surged 8.34 percent to 1.078 million won, and LS ELECTRIC jumped 12.18 percent to 267,000 won. Hyundai Mobis rose 0.40 percent to 502,000 won. On the junior market, semiconductor equipment makers outperformed. Jusung Engineering, Wonik IPS and PSI, which manufacture chip production equipment, rose 15.67 percent to 232,500 won, 0.59 percent to 169,100 won and 8.62 percent to 213,000 won, respectively. Robotics developer Rainbow Robotics gained 3.47 percent to 537,000 won, while biopharmaceutical company HLB fell 2.31 percent to 50,800 won. The South Korean won strengthened against the U.S. dollar, trading at 1,549.4 won compared with 1,558.4 won the previous day. Elsewhere in the region, Japan's Nikkei 225 rose 1.13 percent to 70,851.19. China's Shanghai Composite slipped 0.06 percent to 4,091.89 in early trading. Hong Kong markets were closed for the Hong Kong Special Administrative Region Establishment Day, which commemorate the historic transfer of sovereignty. Hong Kong's bourse was closed for Hong Kong Special Administrative Region Establishment Day, which marks the historic transfer of sovereignty and commemorates the ending the British colonial rule. 2026-07-01 11:27:37 -
Stock mania makes gamblers out of Korean retail investors SEOUL, July 01 (AJP) — Tech-savvy and risk-taking South Koreans are learning fast on exotic bets, turning from sluggish cryptocurrency trading to highly leveraged equity investments. An expanding army of mom-and-pop investors is pouring billions of dollars into high-risk leveraged products on offshore cryptocurrency exchange Binance, where they can place bets of up to 150 times on the KOSPI through products banned at home. According to crypto industry sources, Binance began offering KORUUSDT on June 22, a futures contract linked to the U.S.-listed Direxion Daily South Korea Bull 3X Shares ETF (KORU), which tracks three times the KOSPI's daily performance. The exchange later raised the contract's maximum leverage to 50 times, allowing traders to take positions equivalent to as much as 150 times the index's daily movement. The announcement also generated buzz among Korean retail investors on X. In replies to a post about Binance's Korea-linked leveraged products, one user wrote, "The FOMO is insane," while another joked, "Casinos and horse racing might as well shut down now," as investors reacted to the growing appetite for highly leveraged bets. Earlier this month, the exchange also launched perpetual futures tied to Samsung Electronics, SK hynix and Hyundai Motor, initially offering leverage of up to 20 times. Strong investor demand prompted Binance to introduce a KOSPI-linked contract and raise leverage on its Samsung Electronics and SK hynix futures to 50 times. The trend has since spread rapidly across the offshore crypto industry. KuCoin, one of several overseas cryptocurrency exchanges flagged by South Korea's Financial Services Commission for operating without registering with local authorities, listed 20-times leveraged perpetual futures tied to KORU on June 24. OKX and Bybit introduced similar products the same day, while Bitget, MEXC, XT and BitMart have also launched Korea-linked leveraged contracts. Such trades are not allowed in South Korea's regulated financial markets, where retail investors face strict leverage limits and must complete mandatory education before trading leveraged products. By contrast, anyone with an account at a local cryptocurrency exchange can purchase the U.S. dollar-pegged stablecoin USDT, transfer it to Binance and begin trading without comparable restrictions. Trading has picked up quickly. According to TradingView, a global financial market data and charting platform, cumulative trading volume in KORUUSDT, a perpetual futures contract linked to a triple-leveraged ETF tracking the KOSPI, reached $754.4 million between June 22 and June 26. SKHYNIXUSDT, a futures contract tied to SK hynix shares, attracted much heavier trading, with cumulative volume reaching $6.42 billion over the same period. HYUNDAIUSDT and SAMSUNGUSDT, linked to Hyundai Motor and Samsung Electronics shares, recorded trading volumes of $473.6 million and $52.8 million, respectively. Industry officials estimate that Korean investors account for a significant share of the activity. That has raised concerns that trading demand and fee income are flowing offshore, while investors may have little recourse if disputes arise or platforms fail. Market participants have also warned of a potential "wag the dog" effect, in which trading on offshore derivatives markets begins influencing the underlying Korean stocks rather than the other way around. Because Binance operates around the clock, sharp price swings in Korea-linked derivatives during overnight or holiday trading could shape investor sentiment before the Seoul market opens the following day. The risks became evident during last week's market turmoil. KORU surged to an intraday high of $1,111 on June 22 before plunging to around $700 the following day after the KOSPI suffered its steepest one-day decline in years, tumbling 9.99 percent. The nearly 40 percent drop likely triggered widespread liquidations among highly leveraged traders. Analysts say such products can amplify losses during periods of sharp market volatility. "If liquidity dries up on Binance and these Korea-linked derivatives suddenly plunge, it could unsettle the Korean market when it opens the next day," said Kim Min-seung, head of research at Korbit. Asked whether it is monitoring the trend or considering regulatory action, the Financial Supervisory Service declined to comment. The episode has exposed a growing regulatory blind spot: while South Korea has tightened safeguards in its domestic financial markets, it has little control over increasingly risky Korea-linked products traded offshore. 2026-07-01 11:24:18 -
South Korea breaks into global top 10 millionaire markets SEOUL, July 01 (AJP) - South Korea has joined the world's millionaire elite, breaking into the global top 10 by millionaire population thanks to a bull run unprecedented by global standards. The country's millionaire population reached 1.3 million in 2025, placing it joint eighth globally with the Netherlands, according to UBS's Global Wealth Report 2026 released Tuesday. Australia ranked seventh with 1.6 million millionaires, while the United States remained the world's largest home to millionaires with 23.6 million, followed by mainland China with 5.3 million, Japan with 2.9 million, Germany with 2.6 million, and the United Kingdom and France with 2.4 million each. UBS said the number of millionaires globally rose in 2025, reaching record levels in every market it tracks. The United States accounted for nearly half of all newly created millionaires worldwide, adding more than 440,000 people during the year, or more than 1,200 new millionaires a day. UBS attributed much of the increase in U.S. wealth to strong financial markets. Financial assets, including stocks and bonds, accounted for 79 percent of gross wealth in the U.S., putting the country near the top of the rankings for that metric. The report also found that wealth gains were unevenly distributed. While average wealth per U.S. adult rose by nearly 10 percent after inflation between 2020 and 2025, median wealth declined by almost 20 percent, suggesting that gains were concentrated among the wealthiest households. Globally, individuals with $50 million to $100 million in net assets were the fastest-growing wealth group over the past five years, with their numbers increasing 7.3 percent annually. Although the United States recorded the largest increase in the absolute number of millionaires, Lithuania posted the fastest growth rate, with its millionaire population rising 8 percent in 2025. 2026-07-01 09:51:14 -
AI investment push, chip rally lift KOSPI; KOSDAQ slips SEOUL, June 30 (AJP) - South Korean stocks ended mixed on Tuesday as semiconductor heavyweights led a sharp recovery in the benchmark KOSPI after morning losses, helped by stronger U.S. chip stocks overnight and the South Korean government's fresh support for artificial intelligence semiconductors, while the junior KOSDAQ slipped as investors took profits in battery and biotechnology shares. The benchmark KOSPI closed up 0.97 percent at 8,476.48. The index had fallen as low as the 8,220 level in morning trading before staging a powerful rebound in the afternoon, briefly climbing above 8,660 as buying in large-cap chipmakers gathered pace. Institutional investors led the recovery, purchasing a net 2.89 trillion won ($1.86 billion) worth of KOSPI shares. Foreign investors sold a net 2.59 trillion won, while retail investors also remained net sellers. Both Samsung Electronics and SK hynix staged sharp intraday reversals. Samsung Electronics opened slightly higher before slipping 0.62 percent in early trading, then rebounded to an intraday high of 343,000 won, up as much as 6.19 percent, before closing 3.41 percent higher at 334,000 won. SK hynix also erased early losses, rebounding from a 3.31 percent decline to an intraday high of 2,742,000 won before finishing 0.84 percent higher at 2,650,000 won. The rebound in semiconductor heavyweights spilled over to related stocks. SK Square, a major shareholder of SK hynix, climbed 3.48 percent to 1,697,000 won, while Samsung Electro-Mechanics jumped 7.16 percent to 2,184,000 won after announcing a 450 billion won multilayer ceramic capacitor supply agreement with an undisclosed global technology company. Power and industrial names also advanced. LS Electric gained 6.25 percent to 238,000 won, Hyosung Heavy Industries rose 5.01 percent to 3,438,000 won, HD Hyundai Electric added 3.74 percent to 972,000 won, KB Financial climbed 3.45 percent to 159,000 won and LG Electronics advanced 3.20 percent to 203,000 won. Not all sectors participated in the recovery. Battery and biotechnology shares gave back part of the previous session's sharp gains as investors locked in profits LG Energy Solution tumbled 9.61 percent to 362,000 won after soaring more than 20 percent a day earlier, while Samsung SDI lost 4.88 percent to 487,000 won. Samsung Biologics fell 3.94 percent to 1,391,000 won, Celltrion dropped 3.29 percent to 173,300 won, Hanwha Aerospace declined 2.45 percent to 995,000 won, Kia slipped 1.85 percent to 138,000 won, while Samsung Life Insurance and Samsung C&T edged down 1.84 percent and 0.53 percent to 401,000 won and 468,500 won, respectively. The domestic rebound was also helped by stronger overseas cues. The Dow Jones Industrial Average rose 0.59 percent, while the S&P 500 and Nasdaq Composite gained 1.18 percent and 2.07 percent, respectively. Nvidia climbed 1.27 percent, Micron Technology rose 1.14 percent and Broadcom advanced 2.04 percent, pushing the Philadelphia Semiconductor Index up 3.83 percent. Investor sentiment was also lifted by the government's "three mega projects" initiative, which includes major investment in AI semiconductors. According to Daishin Securities, bargain hunting fueled the rebound, while Micron's strong earnings reaffirmed expectations for solid medium- to long-term demand despite recent concerns over higher memory chip prices. The junior KOSDAQ slipped 0.48 percent to 916.18 after giving up modest early gains. Individuals bought a net 307 billion won worth of shares, while institutions and foreign investors were net sellers. Despite the broader decline, semiconductor equipment makers outperformed on expectations of increased investment in the domestic chip industry. Semiconductor equipment maker Jusung Engineering jumped 13.82 percent to 201,000 won, while fellow chip equipment suppliers Wonik IPS and EO Technics rose 5.72 percent to 168,100 won and 4.27 percent to 476,000 won, respectively. Biopharmaceutical company HLB gained 1.96 percent to 52,000 won, while robotics maker Rainbow Robotics edged up 0.58 percent to 519,000 won. Battery and biotechnology stocks remained under pressure. EcoPro tumbled 9.66 percent to 106,600 won, EcoPro BM fell 7.77 percent to 142,500 won, Kolon TissueGene lost 3.90 percent to 93,600 won, Alteogen declined 3.22 percent to 361,000 won and Reno Industrial slipped 1.52 percent to 84,000 won. The Korean won weakened slightly against the U.S. dollar, trading at 1,548.6 won per dollar, compared with 1,545.2 won in the previous session. Regional markets were mixed. Japan's Nikkei 225 gained 0.86 percent to 70,062.32, supported by gains in technology shares. China's Shanghai Composite rose 0.50 percent to 4,094.40 after official manufacturing data returned to expansion in June. Hong Kong's Hang Seng Index fell 0.80 percent to 22,843.21 as investors took profits at the end of the quarter. 2026-06-30 16:38:21 -
Margin-driven stock selloffs quadruple amid volatile KOSPI swings SEOUL, June 30 (AJP) - Involuntary stock selloffs more than quadrupled last week after a sharp market decline left many retail investors unable to pay for shares they had purchased. According to the Korea Financial Investment Association (KOFIA) on Tuesday, stocks forced to be sold due to margin calls totaled 271.7 billion won (US$200 million) last week, more than four times the 64.8 billion won recorded a week earlier. Stocks worth 50.9 billion won were sold off last Friday alone, up from 47.6 billion won the previous day, remaining above 40 billion won for the fourth consecutive trading session. The sharp selloffs followed a volatile week for South Korean stocks. The benchmark KOSPI briefly topped 9,100 for the first time last Monday, then plunged nearly 10 percent before rebounding and falling again over the week, triggering a wave of forced selling among investors who had borrowed money to buy stocks. That apparently led borrowing to slow, as unpaid trading balances fell to 1.56 trillion won last Friday from 2.07 trillion won the previous day, while outstanding loans also declined for a second consecutive session to 37.76 trillion won. But market jitters remain, as the KOSPI 200 Volatility Index (VKOSPI), South Korea's equivalent of Wall Street's VIX fear gauge stayed elevated at 94.30 as of early Tuesday afternoon, after surging to a record intraday high of 97.99 a day earlier, its highest intraday reading since the global financial crisis in 2008. Several factors fueled the market's sharp swings including over-dominance in leveraged ETFs linked to heavyweights like Samsung Electronics and SK Hynix and lingering tensions in the Middle East. Several factors such as excessive reliance on leveraged ETFs linked to heavyweight stocks like Samsung Electronics and SK hynix, and lingering tensions in the Middle East, continue to fuel the market's sharp swings. Rising memory chip prices also raised fears that major technology companies such as Apple could curb spending, adding pressure on semiconductor stocks. The South Korean bourse wrapped up another volatile day, with the KOSPI closing at 8,476.48 points after sharp swings during the session, as strong institutional buying outweighed persistent foreign selling. 2026-06-30 16:13:59 -
FSS holds brokerage financially liable for wrap account losses SEOUL, June 30 (AJP) -South Korea's financial regulator has for the first time ruled that a brokerage must compensate investors for losses caused by improper discretionary asset management, setting a precedent that securities firms can be held financially liable for mishandling client assets. The Financial Supervisory Service's Dispute Mediation Committee said Tuesday it ordered investors to be reimbursed for 60 percent to 70 percent of losses stemming from the management of bond wrap accounts. The committee concluded that the brokerage breached its fiduciary duty by purchasing commercial paper and corporate bonds above market prices and investing in securities with maturities that exceeded those of the wrap accounts it was managing, exposing clients to unnecessary risks. Under South Korea's Capital Markets Act, investment managers are required to act in their clients' best interests and manage their money responsibly. The committee said this was the first mediation decision to find that a brokerage had failed to meet those obligations. Bond wrap accounts are investment products in which a brokerage manages money for a client under a one-on-one contract. Unlike mutual funds, which combine money from many investors, wrap accounts are managed separately for each client based on their investment goals and cash needs, making them a popular short-term cash management tool for corporate investors. According to the committee, one investor lost 4.6 billion won after investing 80 billion won ($58.8 million) in a bond wrap account in 2023. The brokerage postponed redemption one day before maturity, citing an internal audit into losses caused by its portfolio manager. Another investor was notified of a paper loss of about 450 million won after investing 15 billion won in the product. The investor later discovered that the brokerage had bought commercial paper above market prices and adopted maturity-mismatched investment strategies, eventually recovering the principal only after holding the investment beyond its maturity date. The committee also noted that the brokerage continued investing in securities with maturities of up to 10 months even as the wrap accounts neared maturity, without properly managing market risks. It further found that many of the overpriced trades were carried out to benefit other clients rather than the affected investors, and that the brokerage had previously been penalized for similar misconduct but failed to prevent their recurrence. It therefore ordered the firm to compensate the first investor for 70 percent of the recognized damages, equivalent to 1.26 billion won, and the second investor for 60 percent, or 390 million won. The compensation ratios were determined with reference to a related lower court ruling, which also assigned 70 percent liability, as well as previous dispute resolution cases. Damages were based on the difference between the principal and expected returns the investors should have received at maturity and the amount ultimately recovered. The mediation will become legally binding if both parties accept it within 20 days. "This ruling makes clear that firms can face not only regulatory sanctions but also civil liability if they unlawfully manage client assets," the committee said. "We will continue to encourage responsible bond investment practices among brokerages." 2026-06-30 13:41:25 -
Overdue loans hit record as small business owners struggle to repay debts SEOUL, June 30 (AJP) - Small business owners are falling deeper into debt, with loans and overdue payments both hitting record highs in the first quarter amid a prolonged economic downturn. According to data submitted by the Bank of Korea to lawmaker Park Sung-hoon of the main opposition People Power Party (PPP) on Tuesday, outstanding loans of the self-employed reached 1,095.5 trillion won (US$803 billion) as of the end of March, the highest level since relevant records began in 2012. Their loans increased by 2.6 trillion won from the end of last year, with some 745.5 trillion won used for establishing or running their mom-and-pop businesses and the rest for household expenses and living costs. To make matters worse, loans overdue by more than a month hit a record 22.3 trillion won in the first quarter, up from 20.3 trillion won from the previous quarter, while the overall delinquency rate climbed to 2.04 percent, the highest since the second quarter of 2015. That suggests that more business owners are struggling to repay their loans after years of weak domestic demand and high interest rates, with expected rate hikes likely to add further pressure on them. Borrowers with multiple loans faced an even heavier burden. Self-employed business owners with loans from three or more lenders owed a combined 645 trillion won in the first quarter, while their average debt remained unchanged at 390 million won. Low-income business owners were hit hardest. Their outstanding loans reached a record 153.2 trillion won, while their delinquency rate climbed to 2.13 percent, the highest in more than a decade. But rising loan balances and delinquency rates among higher-income borrowers suggest the financial strain is no longer limited to the most vulnerable. The sharpest deterioration was seen at savings banks, which typically lend to riskier borrowers. Their delinquency rate on loans to self-employed business owners rose to 12.79 percent in the first quarter, up from 11.95 percent three months earlier. That was the highest level since 2015 and more than seven times the post-pandemic low of 1.78 percent recorded in 2022. The central bank said those with lower credit often turn to savings banks and other nonbank lenders, making them more vulnerable to rising interest rates. The outlook could worsen if interest rates rise further. The BOK estimates that a 0.25 percentage-point increase in lending rates would raise annual interest payments by 1.8 trillion won for the self-employed. For borrowers with multiple loans, the additional burden would reach 1.1 trillion won, or about 650,000 won per person annually. Many market analysts expect the BOK to raise interest rates at least twice before the end of this year to weather growing inflationary pressure. In a report released last week, it warned that faster increases in lending rates or a slowdown in the services sector could leave more self-employed borrowers unable to repay their loans on time. 2026-06-30 11:04:50 -
Wearing Korea: 372 stories stitched together by hanbok SEOUL, June 29 (AJP) - Russia-born Violetta, who moved to South Korea after marriage, was sweating under the weight of an elaborately adorned hanbok. But she did not mind. Somewhere beyond the stage, her husband and 7-year-old son were watching with pride. For the brown-eyed mother, the Korea Hanbok Model Contest was about far more than a runway. "Women can feel beautiful and confident," Violetta said. "That is what makes this event more meaningful." For her, the contest was a rare chance to step into the spotlight, celebrate herself and experience Korean culture from the inside. Violetta said the event gave women, particularly mothers who devote much of their lives to caring for their families, an opportunity to rediscover their confidence. "This will be one of the most memorable moments of my life," she said with a smile. "My husband and my 7-year-old child are so proud of me." Another Russian contestant, 35-year-old Julia, described the contest as "a new experience" and an opportunity to learn not only how to wear hanbok but also the cultural meaning behind it. "There aren't many opportunities like this," she said. "I gave it my best on stage." Near the end of the event, Julia sat in a chair, exhausted after hours of rehearsals, waiting and finally walking the runway. For Korean contestants, the contest carried a different weight. Halla Lee, a contestant in her 30s who had long been interested in hanbok, said she spent about three months preparing after the preliminary round in April, practicing posture, posing and runway walking. She woke up at 4 a.m. on the day of the competition to get ready and had only one meal before taking the stage. "Hanbok has become something many foreign visitors experience when they come to Korea," Lee said. "But as Koreans, I think we should wear it with a stronger sense of identity and make it better known in the world. I wanted to do my part." Lee said standing on the stage made months of preparation worthwhile. As fellow contestants walked up to receive their awards, she watched with a quiet smile, celebrating their moment as much as her own. Their stories reflected what the contest has sought to achieve over the past 12 years: presenting hanbok not only as traditional attire but as a living culture shared by people around the world. Held at Inspire Entertainment Resort in Incheon on June 27, the contest drew more than 1,100 participants and guests, including 372 contestants, diplomats from about 40 countries, lawmakers, designers and business leaders. Organized under the leadership of Samuel Chung, chairman of the Korea Cultural Association and head of the organizing committee of the Korea Hanbok Model Contest, the event has expanded beyond a fashion competition into a platform promoting the globalization and industrialization of hanbok. "From the beginning, we hoped our own standards would one day become global standards," Chung said. He said the contest has already expanded overseas, with related events held in France and Thailand. Winners selected from those countries joined this year's stage, alongside models chosen from more than 20 countries across Africa, the Americas, Europe, the Middle East and Asia. "I find it deeply meaningful that so many people who love hanbok have gathered here today," Chung said, describing the event as a celebration of the growing international appreciation for Korea's traditional clothing. Among the keynote speakers was Chafik Rachadi, Morocco's ambassador to South Korea, who described traditional dress as one of the most visible expressions of a nation's identity and an important form of cultural soft power. "This form of soft power resembles our mission as diplomats," Rachadi said. "Not only do we represent our governments, we also represent the values, traditions and refined expressions of our people." "Every morning, when we choose what to wear, we also choose how to present ourselves to the world," he said. "National dress like hanbok reflects the pride of a nation's history, identity and spirit." 2026-06-29 16:51:40 -
Stocks become family business in Korea SEOUL, June 26 (AJP) - From cradle to grave. That's the extent of the stock craze sweeping South Korea. Active trading accounts have increased by more than 10 million this year, with even toddlers joining the market as parents increasingly open brokerage accounts in their children's names as part of long-term financial planning. Economists say the trend reflects a broader shift in how Korean households save and invest for the next generation, although some warn it could also deepen wealth inequality and expose families to greater market risk. The number of active stock trading accounts across domestic brokerages reached 108.77 million as of Wednesday, up 10.49 million from the end of last year, according to the Korea Financial Investment Association on Friday. The increase has nearly matched the 11.72 million accounts added during all of last year. An active stock trading account refers to a brokerage or securities savings account with at least 100,000 won ($73) in deposits and at least one transaction over the past six months. With South Korea's population standing at roughly 50 million, the figures translate into more than two active stock accounts per person, underscoring how deeply this year's record-setting KOSPI rally has penetrated Korean households. One of the clearest signs of the shift has been the surge in brokerage accounts for minors. Rather than relying solely on bank deposits, parents are increasingly using stocks as long-term savings vehicles for their children's education, housing and future inheritance. According to Daishin Securities, new accounts opened for children under age 10 jumped 119.2 percent between January and April. Shinhan Securities said brokerage accounts opened for minors in the first quarter rose 272 percent from a year earlier. Woo Seok-jin, an economics professor at Myongji University, said the increase in children's brokerage accounts reflects not only growing interest in investing but also a tax-efficient way for families to transfer wealth. Assets that appreciate after being gifted can reduce future gift-tax burdens, making brokerage accounts an increasingly attractive estate-planning tool. "Passing family wealth to the next generation this way isn't necessarily desirable from a social perspective," Woo said. He added, however, that if wealth is going to be passed down anyway, channeling it into capital markets would be preferable to concentrating it in real estate or private businesses. Woo said the trend could also help diversify South Korea's household wealth, which remains unusually concentrated in property. Real estate accounts for roughly 80 percent of Korean household assets, compared with around 50 percent in many advanced economies. He cautioned, however, that Korean investors' heavy preference for direct stock investing also leaves households more vulnerable to market swings. "Professional fund managers can rebalance portfolios when markets become volatile, but individual investors often cannot," he said. Broader participation through diversified funds, rather than individual stock picking, would be healthier for long-term investments made on behalf of children. For a growing number of Korean parents, investing is becoming the new saving. P.K.Y., a civil servant in his late 30s, has invested about 20 million won in a brokerage account opened in his son's name. "I wasn't trying to predict which market would perform best. My goal was simply to invest for my child's future over the long term," he said. "My child won't need this money for another 10 or 20 years, and cash sitting in a bank account loses value over time because of inflation. My parents' generation could build wealth through bank deposits, but I don't think that's enough anymore." Not every parent, however, views a child's brokerage account solely as a vehicle for higher returns. For some, it is also a way to teach children how money grows over time. Lee S.H., a 41-year-old professor at a university in Seoul, said she sees opening a brokerage account for her child as both a savings strategy and an opportunity to teach financial responsibility. "I hope my child grows up understanding that money can work for you over time," she said. "I want the money to work for my child, not just sit in a bank account." Yang Jun-sok, an economics professor at the Catholic University of Korea, offered a more positive assessment, saying opening brokerage accounts for children is not fundamentally different from opening savings accounts if the money is genuinely intended to benefit the child rather than avoid taxes. "In many ways, it's another tool for helping children prepare for the future," Yang said. "If the money is eventually used for college tuition or buying a first home, the higher long-term return potential can make it more beneficial than a traditional savings account." Yang added that safeguards should nevertheless be considered to prevent parents from freely withdrawing money intended for their children while still allowing flexibility when families face legitimate financial needs before a child reaches adulthood. Market conditions have also contributed to the surge in brokerage accounts. Account openings typically accelerate during periods of strong initial public offering activity because investors in South Korea must open an account with the brokerage managing a share sale in order to subscribe for newly issued stock. During the pandemic-era stock boom in 2021, blockbuster listings including SK IE Technology, SK Bioscience and SK Biopharmaceuticals helped lift the number of stock trading accounts by more than 22 million in a single year. Although the IPO market has been relatively subdued this year, several newly listed companies have attracted strong retail demand after their shares tripled from their offering prices on debut. Brokerage firms' aggressive account-opening promotions, together with campaigns encouraging investors to shift money back into domestic equities from overseas markets, have further fueled the rapid increase. The surge in brokerage accounts suggests South Korea's stock boom is evolving into something larger than a market cycle. As households increasingly treat equities as savings accounts, inheritance vehicles and financial education tools, the country's long-standing preference for bank deposits and real estate may gradually be giving way to a more market-oriented model of household wealth. 2026-06-26 17:00:49 -
Samsung SDS employees asked to replace cash bonuses with treasury stock SEOUL, June 26 (AJP) — Samsung SDS is seeking employee approval to replace cash performance bonuses with company stock after a landmark Supreme Court ruling recognized such bonuses as wages. According to multiple industry sources on Friday, the company has begun a vote on a proposal to abolish its current cash incentive program and instead award annual performance bonuses entirely in the form of Samsung SDS shares. The vote is scheduled to close on June 29. The proposal follows a January Supreme Court ruling that Samsung Electronics' performance incentive (PI) should be treated as wages and counted when calculating severance pay. The ruling, which stemmed from a lawsuit filed by former employees, has prompted Samsung affiliates to reassess their compensation systems. Industry officials said the move is intended to reduce the legal and financial burden that could arise if cash incentives continue to be treated as wages. The proposal has nevertheless drawn criticism because a significant portion of the bonus calculation would be tied to market-driven factors beyond employees' control. As of 1:10 p.m., shares of the data computing solutions arm of Samsung were 1.94 percent lower at 186,900 won. In addition to changes in pretax operating profit, the calculation would reportedly take into account the company’s share price performance and the KOSPI IT Services Index, meaning bonus payouts could rise or fall with market conditions regardless of individual performance. In response to questions from employees on the company's internal portal, Samsung SDS said the proposal would require the approval of a majority of employees before it could take effect. 2026-06-26 13:16:13