Industrial Activity Declines Amid Middle East Conflict Fallout Last month, overall industrial activity, including production, consumption, and investment, experienced a decline, marking the first instance of a "triple decrease" since August of last year. Concerns have been raised that the fallout from the Middle East conflict, which began in late February, is now taking a toll, although some analysts suggest this may be a temporary adjustment. Oil Refining Plummets, Fuel Sales Drop, Investment Weakens According to the "April 2025 Industrial Activity Trends" report released by the National Data Agency on May 29, the index for total industrial production (seasonally adjusted, excluding agriculture and fisheries) fell by 0.6% from the previous month to 117.8 (2020=100). This marks the first decline in total industrial production since January, when it dropped by 0.8%. The significant decrease in mining and manufacturing, which fell by 0.7% from the previous month, was largely influenced by a 19.4% drop in oil refining production. This is the largest decline since May 1988, when it fell by 22.1%, contributing to a 0.6 percentage point reduction in overall mining production. The unprecedented blockage of the Strait of Hormuz has had a major impact, as Iran declared a blockade in response to the ongoing conflict, leaving very large crude carriers (VLCCs) stranded in the Persian Gulf. The disruption in the supply of crude oil and naphtha has also led to a 2.1% decrease in chemical product production, as the petrochemical industry hastened maintenance and repairs due to supply challenges. Domestic indicators are also showing weakness. The retail sales index dropped by 3.6% compared to the previous month, marking the largest decline since February 2024, when it fell by 3.7%. This decline is also attributed to the effects of the Middle East conflict. Sales of vehicle fuel decreased by 8.3% from a month earlier, following the implementation of a rationing policy by public institutions due to heightened concerns over oil supply. The Ministry of Climate, Energy, and Environment had implemented a vehicle rationing policy for public institutions starting March 25. As concerns over oil supply intensified, a two-day vehicle rationing policy for public institution cars and a five-day rationing policy for public parking lots were introduced on May 8. Additionally, the ongoing high prices of oil products have contributed to the decline in retail sales. Investment has also not escaped the downward trend. Facility investment fell by 3.6% from the previous month. While investment in machinery, including semiconductor manufacturing equipment, increased by 0.5%, investment in transportation equipment, such as other transport vehicles, dropped by 11.5%. The data agency noted that a decrease in aircraft import investments significantly impacted this decline. Construction output fell by 1.4% compared to March, with both building (-1.5%) and civil engineering (-1.1%) projects experiencing reduced activity. Coincident and Leading Composite Indices Rise Together; Government Notes Base Effect Despite the decline in domestic industrial activity indicators, the government views this as a temporary adjustment. The coincident composite index, which reflects the current economic situation, rose by 0.2 points to 100.2, remaining above the baseline of 100 for two consecutive months. The leading composite index, which predicts future economic conditions, increased by 0.6 points to 104.1. The consumer sentiment index, which fell below the baseline of 100 last month, rebounded to 106.1 this month. The business sentiment index also reached its highest level in 43 months at 98.9. These positive signals for consumption and investment suggest a continuation of economic recovery. The oil supply, which had previously shocked the South Korean economy, is also showing signs of recovery. According to the Ministry of Trade, Industry, and Energy, the volume of crude oil imports for May to July is expected to be around 22,000 barrels, approximately 85% of the usual level. The government anticipates that there will be no significant issues with oil supply in August. Although the blockade of the Strait of Hormuz has created challenges for Middle Eastern oil supply, the proportion of non-Middle Eastern oil has increased significantly. The share of Middle Eastern oil, which rose to 69.1% last year, is projected to decrease to 48.5% (provisional) for the May to July period this year. During this time, the share of oil from the Americas (35.6%), Africa (8.3%), Asia (7.4%), and Europe (0.3%) has expanded to 51.5%. Additionally, the release of strategic reserves in accordance with the International Energy Agency (IEA) joint resolution is expected to conclude without government intervention. The Ministry of Industry has announced a regulation to reduce the mandatory days for private reserves from 40 to 20. The government is taking policy measures, such as utilizing the strategic oil swap system, to alleviate overall oil supply burdens, viewing the release of strategic reserves as a last resort. Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol chaired an emergency economic meeting and a meeting of ministers related to economic and industrial competitiveness, stating, "As the Middle East conflict continues for an extended period, major institutions are adjusting their growth forecasts for our economy upward. The industrial production in April experienced a temporary adjustment due to base effects from previous high increases, but we expect a recovery trend to resume in May." 2026-05-29 12:46:00

Korean box-office hit, indie drama Invited to Shanghai film festival SEOUL, May 29 (AJP) - Jang Hang-jun's box-office hit "The King's Warden" and Yoon Ga-eun's drama "The World of Love" have been invited to this year's Shanghai International Film Festival. The two films will be screened in the Asian Collection section of the festival's 28th edition, which opens June 12, according to the festival lineup. The Shanghai International Film Festival is one of China's major international film events, along with the Beijing International Film Festival. The Asian Collection section presents films from across the region. "The King's Warden" follows the exiled life of King Danjong, born Yi Hong-wi and played by Park Ji-hoon, the sixth king of the Joseon Dynasty. The historical drama has drawn 16.88 million admissions in South Korea so far, making it the second-most-watched film in the country's box-office history. It trails "Roaring Currents," which drew 17.61 million admissions, and stands ahead of "Extreme Job," which attracted 16.26 million viewers. The festival introduced "The King's Warden" on its official WeChat account as the top Korean box-office film of the year. "The World of Love" follows Ju-in, an 18-year-old high school student who faces conflict after refusing to join a petition opposing the release of a sex offender. The film, directed by Yoon, has also been selected for major international festival programs, including Toronto's Platform section. 2026-05-29 12:45:39

i-dle enters Forbes 30 under 30 Asia list ahead of July comeback SEOUL, May 29 (AJP) - K-pop girl group i-dle has been named to Forbes' 2026 30 Under 30 Asia list in the entertainment and sports category, the group's agency Cube Entertainment said Friday. The annual list recognizes young figures and teams across industries in Asia and the Pacific region. The recognition places i-dle among a select group of K-pop acts to have appeared on the list. The five-member group — Miyeon, Minnie, Soyeon, Yuqi and Shuhua — was included among this year's honorees ahead of its planned comeback in July. The group released the digital single "Mono (Feat. skaiwater)" in January and has since carried out a series of U.S. promotions, appearing on NBC's "Today" show, "The Kelly Clarkson Show" and "iHeart KPOP with JoJo." i-dle was also recently featured on the digital cover of U.S. magazine PAPER, which highlighted the group's creative identity and musical direction. The group is currently on its fourth world tour, "2026 i-dle WORLD TOUR ," and is scheduled to release a new album in July. It is also set to perform at Lollapalooza, one of the largest music festivals in the United States. 2026-05-29 12:44:31

UPDATE: Korea's April factory output and spending retreat on Gulf energy shocks *updated with additional information and market response SEOUL, May 29 (AJP) — The energy shocks from a months-long disruption of the Strait of Hormuz arising from Middle East conflicts have landed on South Korean shores, battering industrial activity, corporate investment, and consumer spending in April, official data showed Friday. Factory output fell 0.7 percent month-on-month, marking the first contraction since January, as the crucial refining sector was hit hard by the suspension of crude shipments from the Gulf, according to the Ministry of Data and Statistics. By sector, petroleum refining production collapsed by 19.4 percent, registering its sharpest drop in approximately 38 years since May 1988, when output plummeted following a massive nationwide industrial and petrochemical restructuring during the wake of Asian financial crisis. The historic contraction underscored the severe transmission of the Hormuz shock into domestic refiners. The factory floor displayed widespread friction as automaker output plunged 10.0 percent on components bottlenecks, though a 3.1 percent uptick in semiconductors capped steeper industrial losses. Mirroring the manufacturing slowdown, the manufacturing average capacity utilization rate dropped 1.2 percentage points from March to stand at 73.7 percent. Concurrently, manufacturers faced inventory overhangs, with the index rising 1.7 percent month-on-month, lifting the ratio of inventory to shipments by 5.1 percentage points to 98.2 percent. Amid the manufacturing retreat, industry-wide output stood at 117.8 in April, shedding 0.6 percent from the previous month to mark its first decline in three months. While public administration expansion offered a minor cushion, synchronized declines across services and construction dragged down the broader economy. Service sector output decreased 1.0 percent from the previous month, as spikes in domestic borrowing costs forced a 7.7 percent drop in financial and insurance services, alongside a 1.5 percent drop in wholesale and retail trade. The real-economy squeeze was equally visible in consumer markets, where retail sales tumbled 3.6 percent month-on-month—the sharpest pull-back since the beginning of the year. High price stickiness weighed down demand, leading to an 11.1 percent collapse in consumer durables like telecommunications equipment and computers, while non-durables including vehicle fuels shed 1.1 percent as motorists rationed expensive gasoline and diesel. Corporate investment lines turned equally defensive, with equipment investment retreating 3.6 percent from March, driven by an 11.5 percent drop in transport equipment such as aircraft imports. Domestic machinery orders received, a key forward-looking indicator for capital outlays, shrank 7.6 percent year-on-year. Concurrently, construction completed at constant prices dropped 1.4 percent month-on-month, registering a 5.5 percent contraction compared to the same period last year. Despite the broad-based retreat across current output and consumption, business cycle indicators continued to signal divergence due to historical lags. The cyclical component of the coincident index crawled up 0.2 points from March to 100.2, supported by previous export volumes. Meanwhile, the cyclical component of the leading index, a gauge for future economic health, advanced 0.6 points to 104.1, driven primarily by gains in the stock market and export-import price ratios before the full weight of the supply-chain shock consolidated. Despite the widespread retreat in April's macroeconomy, the benchmark KOSPI opened up 2.43 percent from the previous session at 8,384.31, catalyzed by breaking news that a peace agreement between the United States and Iran is imminent. Tech heavyweights Samsung Electronics and SK hynix continue to rewrite their historical highs, surging past 310,000 won ($207.3) and 2.3 million won, respectively. The morning rally was heavily fueled by the combination of South Korea’s robust 1.7 percent gross domestic product (GDP) growth in the first quarter—propelled by soaring semiconductor prices and resilient global demand—and Thursday's reports that a final peace accord between Washington and Tehran now awaits only the formal signature of U.S. President Donald Trump. 2026-05-29 12:44:14

KOSPI Touches 8,424 Before Pulling Back, Fluctuates Around 8,300 The KOSPI index touched 8,424 during trading but later reduced its gains, fluctuating around the 8,300 mark. According to the Korea Exchange, as of 11:58 a.m. on May 29, the KOSPI was up 185.32 points (2.26%) at 8,370.61. The index opened at 8,384.31, rising by 199.02 points (2.43%) from the previous session, reaching a high of 8,424.53 before pulling back to the 8,300 level. In terms of trading activity, individuals and foreign investors sold a net 667.5 billion won and 1.4883 trillion won, respectively, while institutions bought a net 2.111 trillion won, helping to support the index. The top stocks in the securities market showed mixed performance. Samsung Electronics rose by 3.51%, SK Hynix by 0.48%, Samsung Electro-Mechanics by 15.09%, Hyundai Motor by 4.73%, LG Energy Solution by 5.03%, Samsung Life by 3.92%, and Samsung C&T by 5.63%. Conversely, SK Square fell by 1.13% and HD Hyundai Heavy Industries by 1.28%. Meanwhile, the KOSDAQ index was down 30.22 points (-2.74%) at 1,074.14 at the same time. The index opened at 1,112.15, up 7.79 points (0.71%) from the previous session, but reversed course due to selling pressure from foreign and institutional investors. In the KOSDAQ market, individuals bought a net 192.8 billion won, while foreign and institutional investors sold a net 96.2 billion won and 110.3 billion won, respectively, contributing to the index's decline. The top stocks in the KOSDAQ exhibited varied trends. EcoPro BM fell by 0.69%, Alteogen by 0.68%, EcoPro by 2.21%, Kolon TissueGene by 7.05%, Samchundang Pharm by 0.15%, Rino Technology by 2.42%, and Peptron by 4.84%. In contrast, Rainbow Robotics rose by 1.14%, Juseong Engineering by 0.48%, and HLB by 0.20%.* This article has been translated by AI. 2026-05-29 12:16:00

Public Institutions Tighten Hiring Standards for Non-Regular Workers Public institutions are making it more difficult to hire non-regular workers. The government is expanding the pre-screening process for hiring non-regular workers to include subsidiaries and affiliated organizations, as well as assessing the necessity of fixed-term hiring and the allocation of budgets for improving working conditions. This move aims to curb the abuse of non-regular employment in the public sector and reinforce the principles of regular hiring. On May 29, the Ministry of Employment and Labor announced that it, along with related ministries, will implement revised guidelines for improving the treatment of non-regular workers in the public sector and the operation of the pre-screening system for hiring non-regular workers. These revisions follow measures announced in April during a Cabinet meeting aimed at improving unfair employment practices for non-regular workers and enhancing compensation for labor value and job insecurity. The government has also established detailed criteria for the fair wage and appropriate pay system set to take effect in 2027. Fair wages will be provided to fixed-term workers with less than one year of service based on their duration of employment, and wages for fixed-term workers earning below 118% of the minimum wage will be raised to that level. In cases where hiring non-regular workers is unavoidable, a minimum one-year employment contract will be guaranteed, and fair wages and weekly holiday pay will be provided proportionally to part-time workers. The most significant change is the expansion of the pre-screening system for hiring. Introduced in 2018, this system has primarily operated within central government, local governments, and public institutions, but it will now also apply to local government-affiliated organizations and subsidiaries of public institutions. The Ministry of Labor explained that the system has been revised to function as a practical measure to prevent the abuse of non-regular workers, addressing concerns that it was being operated merely as a formality in some institutions. Going forward, the pre-screening process will assess not only the necessity of hiring non-regular workers but also the unavoidable nature of contracts lasting less than one year, the need for part-time work, and the allocation of budgets for improving working conditions. This is seen as a step to reduce the short-term contracts and part-time hiring that have been customary in the public sector and to strengthen the principle of converting such positions into regular employment for ongoing and continuous work. The government will also enhance the management of non-regular workers. Each institution will be required to annually manage the status and wage levels of non-regular workers, and if the number of non-regular workers increases by more than 10% compared to the previous year, the reasons for the increase must be documented separately. Supervisory agencies will conduct inspections of subordinate organizations at least once a year. In particular, the government plans to investigate the operation of the pre-screening system annually and assess the appropriateness of the review results and the composition of review committees. There are also plans to evaluate the implementation and effectiveness of the pre-screening system for use in institutional assessments. Kim Young-hoon, Minister of Employment and Labor, stated, "We have established a system to create a workplace where the labor value of non-regular workers is respected, starting with the public sector as a model employer. We will actively guide and inspect to ensure that this is felt on the ground in collaboration with related ministries."* This article has been translated by AI. 2026-05-29 12:02:00

South Korea Launches AI-Based Cyber Threat Response System The South Korean government is establishing a nationwide cybersecurity framework to address the increasing cyber threats associated with the rise of generative artificial intelligence (AI). With the potential for high-performance AI to automate vulnerability discovery and attacks, the government aims to create an AI-based security system in collaboration with the private sector. On May 29, the Ministry of Science and ICT (MSIT) announced the 'Private Sector Cybersecurity Promotion Plan to Counter AI-Based Cyber Threats' during the 9th Science and Technology Ministers' Meeting. Concerns have grown regarding security organizations as vulnerability discovery becomes routine with high-performance AI. In response, the MSIT plans to establish a governance and cooperation framework to publicly address AI vulnerabilities. The government will facilitate rapid sharing and dissemination of information regarding AI vulnerabilities and threats, led by the National Security Office at the Blue House. An emergency response system will be established to enable joint responses to incidents, with a central situation room within the MSIT and separate situation rooms in relevant ministries for the private sector. The government plans to set up a Vulnerability Management Center within the Korea Internet & Security Agency (KISA) to centralize vulnerability and patch management. This center will collect and analyze vulnerability and patch information from both domestic and international sources through the National Vulnerability Database (KNVD) and share it promptly with Chief Information Security Officers (CISOs), private cooperation channels (C-TAS, ISAC), and relevant ministries. Additionally, the MSIT intends to pilot the use of high-performance AI models, acquired through international cooperation, for vulnerability analysis and patch generation and validation. On May 26, the MSIT held a meeting with OpenAI to discuss responses to AI security threats and measures to ensure AI safety and trust. The government has decided to participate in OpenAI's Government and Agency Trust-Based Access Program (GTAC). Based on this, the government will gradually implement an AI-based automation system for collecting open-source vulnerabilities, automatic analysis and classification, and patch generation and validation. In the corporate support sector, the government is considering analyzing source code that does not include personal data, with the consent of the companies, to identify vulnerabilities and provide AI-based remediation measures. For major companies, the government will promote enhanced security preparedness through asset management, vulnerability assessments, and patch responses. Approximately 1,200 companies and institutions, including those in critical information infrastructure, ISMS-mandated companies, and large enterprises in finance, healthcare, energy, as well as major hospitals and private universities, will undergo sector-specific compliance checks. Support for small and medium-sized enterprises (SMEs) will also be strengthened. The government plans to distribute a web-based tool that allows SMEs to assess their IT assets and security levels, along with providing security investment guidelines and remediation measures. To address open-source vulnerabilities that could be exploited by AI, the government will promote support for Software Bill of Materials (SBOM) generation and analysis technologies. Additionally, it will offer attack surface assessments, expert consultations, and support for vulnerability assessment infrastructure based on high-performance AI models. The government will also enhance its AI-based cyber threat response system. It plans to continuously monitor approximately 350 million global domains and establish a system to detect and block malicious activities and suspicious domains from the initial stages. In the event of an incident related to AI services, the 'Incident Investigation Advisory Committee' will be activated immediately to conduct swift investigations and prevent the spread of damage. The government is also pursuing expanded international cooperation. Starting with OpenAI's GTAC, it aims to enhance participation in AI security projects from global tech giants and foster information-sharing collaborations. Efforts will also be made to establish AI-based threat response and information-sharing systems with cybersecurity agencies in allied countries. Furthermore, the government will prepare and distribute guidelines for responding to vulnerabilities from discovery to patching for manufacturers, companies, institutions, and the general public, while promoting activities to increase security investments. Plans are also underway to hold relay meetings with CEOs from key industries. Starting in 2027, the government aims to transition the domestic cybersecurity framework to be based on independent AI technology and to actively pursue projects to secure AI security sovereignty. Deputy Prime Minister and Minister of Science and ICT Lee Baek-hoon emphasized, "As the pace of AI development in the field of cybersecurity is rapid, it is essential for our country to establish a security system and global cooperation suitable for the AI era. Through this plan, we will establish an emergency response system to address the large-scale public disclosure of AI vulnerabilities and accelerate the establishment of AI security sovereignty based on our technology and models."* This article has been translated by AI. 2026-05-29 12:02:00

April Mortgage Rates Drop 0.03% for First Decline in Seven Months Mortgage rates for housing loans fell last month for the first time in seven months. The share of fixed-rate loans dropped below half, reaching its lowest level in four years and nine months. According to the Bank of Korea's "Weighted Average Interest Rate" statistics released on May 29, the weighted average mortgage rate for new loans at deposit banks was 4.31% in April, a decrease of 0.03 percentage points from the previous month. This marks the first decline since October of last year. While fixed-rate mortgage rates increased due to the rise in the government-backed housing loan rates, the overall drop in mortgage rates was influenced by a higher proportion of lower-rate variable loans. The overall household loan rate also fell from 4.51% in March to 4.43% in April, a decrease of 0.08 percentage points. This decline was driven by a 0.11 percentage point drop in mortgage and guarantee loan rates, along with a reduction in the share of higher-rate general credit loans. Among mortgages, the share of fixed-rate loans decreased by 13.0 percentage points to 47.8% in just one month. This marks the lowest level since July 2021 (43.9%) and follows six consecutive months of decline since November 2025 (90.2%). The fixed-rate mortgage rate was 4.34%, higher than the variable rate of 4.28%, which likely contributed to this trend. The share of fixed-rate loans among all household loans also fell from 35.5% to 27.8%, the lowest level since July 2022 (21.4%). Lee Hye-young, head of the Bank of Korea's Financial Statistics Team, explained, "The reduction in the fixed-rate share is due to the fact that the fixed-rate level is significantly higher than variable rates, particularly as the government-backed housing loan rates have increased. Borrowers are opting for lower rates." The government-backed housing loan rates were frozen between 3.65% and 3.95% from February to December last year, but have seen three increases this year: 0.25 percentage points in January, 0.15 percentage points in February, and 0.30 percentage points in April, influenced by the ongoing rise in mortgage-backed securities (MBS) issuance rates. In April, corporate loan rates remained unchanged at 4.14%. While rates for large enterprises decreased by 0.02 percentage points, the rates for small and medium-sized enterprises increased by 0.01 percentage points due to some banks engaging in high-interest financing. Overall bank loan rates, which include both household and corporate loans, remained stable at 4.20%, as the decline in household loans was offset by stable corporate loan rates. The monthly savings deposit rate (based on new transactions) rose from 2.82% to 2.92%. The rates for pure savings deposits, such as time deposits (2.87%), and market-based financial products like financial bonds and certificates of deposit (CDs) increased by 0.08 and 0.09 percentage points, respectively. The interest rate spread between loans and deposits, calculated based on new transactions, decreased by 0.10 percentage points to 1.28%, marking three consecutive months of decline. However, the balance-based interest rate spread increased by 0.01 percentage points to 2.28%. As benchmark rates have risen this month, it is expected that loan rates will also increase. However, the Bank of Korea noted that loan rates vary by product, making it difficult to predict exact changes. Lee stated, "This month, both short-term and long-term rates have risen, with long-term rates increasing significantly. Different products are influenced by varying benchmark rates, and the proportion of products offered by banks also affects this, so predictions are challenging."* This article has been translated by AI. 2026-05-29 12:02:00

Workplace Childcare Facility Compliance Rate Reaches 94.9% As of 2025, the compliance rate for the mandatory establishment of workplace childcare facilities for businesses with 500 or more employees or 300 or more female employees has reached 94.9%, an increase from the previous year. The government has also released a list of 10 businesses that failed to meet this requirement.On May 29, the Ministry of Employment and Labor and the Ministry of Education announced the results of a survey on compliance with the workplace childcare facility mandate. Out of 1,674 eligible businesses, 1,588 have complied by either establishing workplace childcare facilities or utilizing entrusted childcare services.The requirement applies to businesses with 300 or more female employees or 500 or more total employees. Employers can fulfill this obligation by either setting up their own childcare facilities or contracting with external childcare providers to support employee childcare needs.This year's compliance rate of 94.9% reflects a 1.0 percentage point increase from last year. Among the 1,674 eligible businesses, 1,103 have directly established and operated workplace childcare facilities, while 485 have complied through entrusted childcare services, where employers contract with external providers to subsidize childcare costs for employees.The disclosed list includes hospitals, manufacturers, and retail companies. Notably, Das, a company based in Gyeongju, has been named for the 11th time, having the highest number of children eligible for childcare at 191 among the listed businesses.The B.H. 2nd Plant in Seo-gu, Incheon, has been publicly listed twice, along with SSG.com and MTS Corporation in Icheon, Gyeonggi Province, which cited 'insufficient childcare demand' as the reason for non-compliance.Medical institutions such as Daejeon Korean Hospital, ID Hospital, Jinju Korea Hospital, and Hanaro Leaders Clinic of the Seoul Institute of Science and Technology are also included in the disclosure.The Ministry of Employment and Labor and the Ministry of Education conduct annual checks on compliance with the workplace childcare facility mandate. To enhance the effectiveness of the system, they operate a public disclosure system for businesses that fail to comply.The published list includes the names of the businesses, the owners, the number of employees, the cumulative number of disclosures, and reasons for non-compliance. The government aims to encourage voluntary compliance among businesses through this disclosure.Kwon Chang-jun, Deputy Minister of Labor, stated, "Workplace childcare facilities are a crucial foundation for balancing work and family life, supporting both parents' careers and sustainable corporate growth. We will strengthen on-site support through briefings and consulting to promote the expansion of workplace childcare in more businesses."* This article has been translated by AI. 2026-05-29 12:02:00

April Foreign Currency Deposits Increase by $8.5 Billion as Investors Expand Deposits Last month, foreign currency deposits held by domestic residents increased by over $8.5 billion, rebounding after a record decline the previous month. According to the Bank of Korea's report on 'Trends in Resident Foreign Currency Deposits' released on May 29, the balance of foreign currency deposits held by residents at foreign exchange banks was recorded at $110.68 billion as of the end of April. Resident foreign currency deposits refer to deposits made by Korean nationals, domestic companies, foreign nationals residing in Korea for more than six months, and foreign companies operating in Korea. Both corporate and individual deposits saw increases. The balances for corporate and individual deposits were reported at $94.88 billion and $15.8 billion, respectively, with corporate deposits rising by $8.08 billion and individual deposits increasing by $430 million. By currency type, the balance of dollar deposits rose by $7.68 billion from the end of March to reach $93.32 billion. Yen deposits increased by $400 million to $8.22 billion, while euro deposits rose by $260 million to $6.57 billion. The Bank of Korea attributed the increase to a rise in investor deposits at securities firms, inflows of funds for overseas investments by pension funds, and large corporations receiving current account payments. It noted that yen deposits increased due to higher investor deposits at securities firms, while euro deposits saw a slight rise due to some companies issuing bonds. Domestic investors turned to net selling of U.S. stocks last month, selling $468.93 million worth of shares. This is interpreted as the proceeds from dollar sales not being exchanged but instead deposited. The average monthly exchange rate based on weekly closing prices remained high, increasing from 1,448.38 won in February to 1,492.50 won in March and 1,485.03 won in April.* This article has been translated by AI. 2026-05-29 12:02:00