Journalist

Bang Ye-joon
  • South Korean financial stocks lead market gains in February
    South Korean financial stocks lead market gains in February SEOUL, February 16 (AJP) - South Korean financial stocks surged this month as the benchmark KOSPI index hit a series of record highs. The securities index jumped 24.5 percent from Jan. 30 to Feb. 13, rising to 7,684.70 from 6,172.47, far outpacing the KOSPI's 5.31 percent gain over the same period, according to data from the Korea Exchange released Monday. The KOSPI 200 Financials index, composed of 22 stocks including financial holding companies, banks and insurers, climbed 22.34 percent for the second-largest gain. Other sectors posted smaller increases, with telecommunications up 14.59 percent, insurance up 13.81 percent and construction up 13.37 percent. Financial strength also showed up in broader KRX indexes covering both the KOSPI and KOSDAQ markets. The KRX Bank index rose 25.36 percent to lead all sectors, followed by KRX300 Financials up 22.22 percent and KRX Securities up 21.19 percent. Analysts attributed the gains to rising investor interest in brokerage shares amid the broader market rally, as well as buying in bank and insurance stocks ahead of dividend season. Changes to dividend taxation also played a role. Starting this year, dividend income is subject to separate taxation, making bank stocks more attractive to high-net-worth investors. "Separate taxation on dividend income has made bank stocks a favorable investment tool for wealthy investors expecting more than 20 million won in financial income," said Kim In, an analyst at BNK Investment & Securities. "If tax-free dividends are introduced, the appeal of bank stock dividends would likely broaden to retail investors as well." 2026-02-16 17:41:44
  • South Korea scrambles over EUs new steel trade curbs
    South Korea scrambles over EU's new steel trade curbs SEOUL, October 08 (AJP) -South Korea’s government and steelmakers are rushing to respond to the European Union’s latest protectionist move on steel imports, which adds to the heavy tariffs already imposed by the United States on steel and aluminum. The EU has issued a new set of barriers that halve import quotas and double tariffs beyond those limits, the Ministry of Trade, Industry and Energy said Tuesday. Under the European Commission’s proposed tariff-rate quota (TRQ) scheme, which would replace the current safeguard mechanism, the global duty-free quota for imported steel will be cut from 30.53 million tons to 18.3 million tons, a 47 percent reduction. Imports exceeding the quota will face tariffs raised from 25 percent to 50 percent. The EU will also introduce a “melt-and-pour” standard requiring proof of the origin of steel production, aimed at blocking indirect exports through third countries. Pending legislative approval, the new TRQ system will take effect at the end of 2026 at the latest, when the current safeguards expire. Individual country quotas will be negotiated separately, affecting non-EU exporters such as South Korea, which shipped about 3.8 million tons of steel to the EU last year, 2.63 million tons under the quota and the rest via the global quota. The measure poses a double blow to Korean steel, aluminum, and downstream exporters already facing 50 percent tariffs in the U.S. market. Korea’s steel exports to the EU totaled $4.48 billion last year, nearly matching the $4.35 billion shipped to the United States, according to the Korea International Trade Association. Korean steel exports have been sliding since a 12.4 percent year-on-year drop in May, with a cumulative decline of 15.4 percent by August. The EU has pledged possible relief for countries with free trade agreements, and the Korean government plans to leverage its FTA to secure the largest possible quota share. “The EU has indicated it will consider free-trade relationships when allocating quotas,” the ministry said. Trade Minister Yeon Han-koo is expected to meet Maros Sefcovic, the EU’s executive vice president for trade, to argue Korea’s case after consultations with domestic steelmakers. The government, major producers such as POSCO and Hyundai Steel, and industry associations will convene Friday to discuss coordinated countermeasures. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-08 14:40:37
  • Hyundai Capital launches financing services for car buyers in Indonesia
    Hyundai Capital launches financing services for car buyers in Indonesia SEOUL, September 23 (AJP) - South Korean financing company Hyundai Capital said Tuesday it had launched a new automotive finance company in Indonesia, aiming to strengthen its foothold in one of Southeast Asia’s fastest-growing car markets. The joint venture, created with Indonesia’s Sinarmas conglomerate and Shinhan Bank Indonesia, will operate under the brand name Hyundai Finance. The company plans to offer a suite of services for car buyers, including deferred and installment payment plans, as well as in-dealership financial consultants to guide customers through financing options. Hyundai Finance will also introduce a platform that allows buyers to complete the entire financing process online, reflecting growing demand for digital services in Indonesia’s consumer finance sector. Indonesia, Southeast Asia’s largest economy, has become an increasingly important market for global automakers. Hyundai Motor, which opened its first manufacturing plant in the country in 2022, has sought to position itself as a competitor in both the traditional and electric vehicle segments. Hyundai Finance will play a critical role in boosting sales by lowering barriers to car ownership in a market where installment plans dominate vehicle purchases, company officials said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-09-23 16:29:33