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Articles by Kim Sang-beom
‘Google shock’ sends Kospi tumbling… down 3.5% to close around 5,730
Dragged down by Alphabet, Google’s parent, plunging more than 12% on Wall Street overnight, the Kospi sank more than 3%. At one point intraday, the 5,600 level broke, triggering a sell-sidecar. According to the Korea Exchange on the 30th, the Kospi index closed at 5,730.74, down 206.92 points (3.48%) from the previous session. The index opened at 5,760.35, down 177.31 points (2.99%), then deepened its losses, sliding to as low as 5,599.42 intraday. At the intraday low, the decline reached 5.7%.
Foreign investors reverse to a ‘19 trillion won net sell-off’ in one month… cumulative 213 trillion won sold this year
Last month, foreign investors were net sellers of 19 trillion won in domestically listed stocks. The cumulative net selling for this year totals 213 trillion won. According to the Financial Supervisory Service report titled ‘Trends in Foreign Securities Investment in September 2026’ released on the 30th, foreigners recorded a net sale of 19.116 trillion won in domestically listed stocks last month. They were net buyers of 344.0 billion won in August but switched to net selling in just one month.
Even if banks·savings banks become insolvent, deposits will not be tied up for months… reducing financial firm resolution from 150 days→3~4 days, push for ‘expedited resolution regime’
A system is being pursued to resolve failing financial institutions within 3~4 days so that deposits are not tied up for months even when a financial company becomes distressed.
Emergency cash of 300,000 won, 240,000 won in one-week interest··· annual rate 4,171% ‘The loan shark trap’
Personal data leaked from broker platforms Amid a flood of sales calls from loan sharks, “Borrowed without knowing it was illegal” doubled in two years Holding out alone under the stigma of rehabilitation and bankruptcy delays public debt relief The management vacuum after debt adjustment is a ‘problem’ Funds must be secured to support people's restart “I will make an entire website to expose your personal information.
“400,000 won paid the same day”··· Tempted by a ‘high-paying’ part-time job, before you know it you are an accomplice to phishing
Bank account sales·private foreign-currency transactions, etc Beware that involvement in crime makes you subject to punishment ‘Urgently hiring for a sweet gig, same-day payment. Up to 400,000 won for cash delivery·funds transfer tasks.’ If you start work after seeing such a job ad, you can be punished as an accomplice to voice phishing.
Korea's Q2 current account surplus exceeded the combined total of Germany and Japan
In the second quarter, Korea recorded a current account surplus that, for the first time on record, exceeded the combined surpluses of Germany and Japan, both leading manufacturing nations. The International Monetary Fund (IMF) projects that Korea's annual surplus this year will rank second after China, with the largest increase among 190 countries.
‘Single-stock leverage’ advertising cost asset managers over 500 million won… halted after just two months following ‘high risk’ concerns
Asset management firms that launched high-risk single-stock leveraged products based on Samsung Electronics and SK hynix were found to have spent over 500 million won on advertising over two months, but fully halted the related marketing following the financial authorities’ warnings about the risks. According to materials submitted by the Financial Supervisory Service to Rep.
“The ‘AI hacker’ targeting the financial sector is a teenager... ordered by a China-linked organization based in Southeast Asia” testimony
Interview with the operator of a Chinese-language AI hacking community A claim has emerged that the actual perpetrator of the recent hacking attacks targeting South Korea's financial sector is a China-linked teenage boy who carried out the crime on the orders of an international criminal organization based in Southeast Asia.
‘Money you had to die to receive’ whole life insurance, transforming into ‘insurance you can receive while alive’
Whole life insurance, once the ‘insurance you had to die to receive’, is transforming into ‘insurance you can receive while alive’. In the past, the core of whole life was money left to family after death, but now, if you become ill, you can draw on it for treatment costs and have premiums waived. At the same time, products have appeared that do not reduce, or even increase, the death benefit left to family. Last year, an option even emerged to receive whole life proceeds in the form of an annuity.
Foreign residents can open a KakaoBank account in 5 minutes via the app…including transfers and cards
Foreign residents in Korea will be able to open a bank account remotely on the KakaoBank app without visiting a branch. Transfer and ATM fees will be waived on the same terms as for Korean nationals. KakaoBank announced on the 12th that it will launch a ‘Foreigner Service’ bundling foreigner accounts, debit cards, and international remittances. Anyone age 19 or older, from roughly 200 nationalities, can open the foreigner account.
As semiconductor momentum fades, secondary-battery ETFs race ahead… monopolizing this month’s top tier of returns
Taking advantage of the slowdown in large-cap semiconductor stocks, secondary-battery names rebounded sharply, and exchange-traded funds (ETFs) that include them effectively monopolized this month’s top tier of returns. According to the Korea Exchange on the 9th, from the 1st to the 8th of this month, 8 of the top 10 domestically listed ETFs by return were secondary-battery related products.
In 16 of 18 foreign-origin hacking incidents in the financial sector, the perpetrators are unknown
Hacking incidents in the financial sector have continued to erupt, but it appears that since 2024 most attacks coming from overseas have not even had their perpetrators identified. According to materials that Rep. Song Eon-seok of the National Assembly Political Affairs Committee received from the Financial Supervisory Service on the 9th, there were 18 presumed foreign-origin hacking incidents at financial companies from 2024 through the 8th, covering about two years and nine months.
Financial-sector hacking suspect labeled as '26-year-old from Guangdong' claims, "I'm a convenience-store employee in Henan... someone framed me"
A Telegram account user who had been identified as the attacker behind the recent hacks on South Korea's financial sector and described as the '26-year-old from Guangdong, China' claimed that "someone framed me." He asserted that he is a convenience-store employee living in China's Henan Province and that the real attacker is someone else.
Is the trusted AI an enemy within?…The financial sector tightens the ‘security reins’
Financial Security Institute drafts 17-item ‘AI agent inspection criteria’ Company-granted ‘authority’ enables autonomous task handling… risk of incidents such as data leaks grows Checks include human approval flow, forced stop, and blocking the use of ‘ghost information’ that remains even after deletion Starting next year, financial institutions will be checked to ensure that AI agents deployed for work do not go beyond their delegated authority by leaking information or executing unintended...
Financial sector breached via the back door by AI… debate over the current ‘network separation’ security system
‘Security basics’ neglected and exploited… external touchpoints with less monitoring face concentrated attacks The current paradigm that ‘just cutting the network makes you safe’ has limits for adopting the latest defensive AI “Defend AI hacking with AI” “Advantages in protecting core computing networks”… differing views on easing separation rules A sweeping hacking incident that shook the entire financial sector has ignited debate over the direction of financial security.
This Week, the KOSPI Hinges on Samsung Electronics Earnings
With the KOSPI barely holding the 7,000 mark, the market enters the week of Samsung Electronics third-quarter preliminary earnings. With foreign selling persisting amid high interest rates and elevated oil prices, the results to be announced on the 8th are expected to be a watershed for the market. According to the Korea Exchange on the 5th, the KOSPI closed last week at 7,003.74, down 1.09% (77.18 points) from the previous week. US market interest rates are holding back equities.
Korean finance breached by a two-month-old Chinese AI
Shinhan·KB·Hana Bank hit, and even secondary lenders such as Yegaram and Hyundai Capital hacked Randomized attacks using AI released in July…targeted lax internal systems IP addresses from eight countries, including Korea·the United States·Japan…identifying the attacker may take time The entire financial sector is on high alert as not only commercial banks but also savings banks and capital companies suffered AI-based automated hacking attacks believed to be carried out by the same group,...
As U.S. Treasury yields jump, Korean overseas retail investors rush into bonds…betting on a peak in rates?
As long-term U.S. Treasury yields have surpassed 5% per annum, Korean retail investors are buying U.S. bonds. Judging that rates have risen enough for now, they are engaging in ‘bargain buying’ on expectations that if yields fall going forward, bond prices could rise. However, there are also projections that U.S. Treasury yields could exceed 6%, prompting calls for caution.
What if the Korea Development Bank is relocated···collective departures among dual-income households? Only 2% say “I would move with my family”
As the government pushes a second round of relocating public institutions to the regions, it turned out that only about 2 out of 100 employees said they would move with their families if the Korea Development Bank headquarters were moved outside the capital area. The main reason was that many households are dual-income, making it difficult for the whole family to move unless one spouse gives up a job.
AI fever has changed the ‘formula of money’ as well···Domestic stocks hold firm even as US Treasury yields surge
US long-term Treasury yields have surged to the highest levels in more than two decades, yet stock markets at home and abroad have barely wavered. The long-standing rule that when rates rise, stock prices fall appears to be losing force. Robust US economic performance and large-scale capital spending centered on artificial intelligence (AI) investments are offsetting the financial-market drag from higher rates.
Run more and get higher interest, and get coverage if you injure your knee… Why the financial sector is moving to ‘woo runners’
If you injure your knee while running, your medical expenses are covered, and you can receive higher savings interest based on the distance you run. Insurers, banks, and card issuers are rushing to roll out running-themed financial products in step with the running boom. Alongside knee-protection insurance, there are even products you can buy only on the day of a marathon and cards that offer half-price drinks during peak workout hoursthese ‘niche products’ keep coming.
Semiconductor exports increased, but jobs retreated… Employment inducement coefficient 5.4 persons→5.0 persons
As semiconductor exports have surged, the share of exports in the domestic economy has grown, but the ability of exports to create jobs has instead weakened. According to the Bank of Korea’s ‘2024 Input-Output Tables (Extended Tables)’ released on the 21st, last year’s total supply (total demand) of goods and services was 7,113.6 trillion won, up 4.6% from a year earlier. Within this, the share accounted for by exports rose by 1.4 percentage points, from 14.7% to 16.1%.
Buy before the holidays? Sell? Where is the KOSPI headed as it nears the 7,000 mark
With the Chuseok holidays approaching, there are views that volatility in the KOSPI index could increase. This is because a desire to lock in profits in advance may set in to avoid potential variables that could arise while the market is closed. After the holidays, the potential early end of share buybacks by Samsung Electronics and SK hynix is being cited as a factor.
Youth Future Savings paying up to 19.4% annual interest opens again… second round in October
The Financial Services Commission announced on the 16th that applications for the second round of Youth Future Savings will be accepted from October 7 to 16. Youth Future Savings is a three-year, flexible installment savings product that allows young people ages 19∼34 to make deposits freely up to 500,000 won per month. Thanks to its high interest rate, the first round in June proved so popular that about 2 million people applied.
On the first day the stock market Aftermarket opens, some brokerages report system errors
On the morning of the 14th, as the Korea Exchange (KRX) ‘Aftermarket’ that allows people to buy and sell stocks even on the commute home opened, major domestic securities firms experienced successive system errors. At Mirae Asset Securities home trading system (HTS) and mobile trading system (MTS), during the pre-market held from 8:00 a.m. to 8:50 a.m. that day, the screen for confirming whether buy·sell orders had been executed appeared late for a while.
Asset management industry profits triple in a year amid stock market·ETF boom
With the domestic stock market strengthening and the exchange-traded fund (ETF) market expanding in tandem, asset management companies saw second-quarter net profit more than triple in a year. Assets under management also grew by nearly 40% over the year. According to the “Q2 2026 Operating Results of Asset Management Companies” released by the Financial Supervisory Service on the 11th, Q2 net income was 2.6889 trillion won, up 83.4% from the previous quarter (1.4664 trillion won).
What is the No. 1 culprit behind KOSPI volatility in the first half of this year, according to the Bank of Korea?
As volatility in the domestic stock market surged to unprecedented levels in the first half of this year, producing what is dubbed ‘Roller KOSPI’ conditions, the Bank of Korea pointed to Samsung Electronics·SK hynix leveraged exchange-traded funds (ETF) as one of the causes. However, the BOK cited the ‘deepening semiconductor concentration’ of the KOSPI index as the biggest driver of the Roller KOSPI.
Who knew getting past 7,000 would be this hard···KOSPI closes at 6,954
On the 8th, the KOSPI index once again stopped just short of ‘the 7,000 level’. The KOSPI climbed intraday to the 7,100 level for the first time since mid-last month but was pushed back to the 6,900 level as ‘retail investors’ sold heavily. Since September, foreign buying has continued on the back of the won's appreciation, but the possibility of a U.S. rate hike and rising U.S. Treasury yields are cited as variables that could shake the domestic market.
KOSPI reclaims the 7,000 mark intraday… after 15 trading days
The KOSPI reclaimed the 7,000 mark early on the 8th. As of 9:40 a.m. that day, the KOSPI stood at 7051.34, up 0.81% from the previous trading day. The index opened at 7045.79, up 50.40 points (0.72%) from the previous session. It was the first time in 15 trading days since August 18 that the KOSPI recovered the 7,000 level. Samsung Electronics was trading up 0.9% at $204.38 (272,500 KRW), and SK hynix was up 2.8% at $1,375.50 (1,834,000 KRW).
They say September has always been cruel to the KOSPI, but can the U.S. midterm elections save it?
The complex equation between politics and stocks September KOSPI: seasonal weakness + U.S. midterm election uncertainty In October, the mood for the KOSPI could change Market direction is driven more by rates·oil prices·the exchange rate than by the election This is the [What is the Economy] column written by reporters on the Kyunghyang Shinmun business desk. We deliver economic news from the week in an easy and engaging way.
“Prepare for a home-price crash,” yet··· Seoul apartment auctions are decreasing, and in some areas they are selling for more than their appraised values
As President Lee Jae Myung mentioned mortgage delinquencies and an increase in auction listings and raised the possibility of a decline in home prices, the Seoul apartment auction market appears to be moving in the opposite direction. Nationwide, auctions are increasing, but in Seoul the supply of apartment auction listings has fallen for two consecutive years, and in some areas demand is so strong that properties are being awarded at prices above appraisal.
Soldiers can leave service with 20 million won in hand, financial counseling will be provided···the risks of ‘leverage’ will also be taught
The Financial Services Commission will completely revamp financial education for service members, shifting from passive, lecture-only formats to proactive approaches such as tailored counseling.
For the KOSPI, the foe is not ‘earnings’ but ‘rates’···KOSPI stops short of 7000
As the KOSPI fails to reclaim the 7000 level and hesitates, with Korea entering a 3% base-rate era and the United States also discussing the possibility of rate hikes, some expect it will be even harder to find a catalyst for a rebound. According to the Korea Exchange on the 30th, the KOSPI, which attempted to break above 7000 on the 27th, ultimately finished at 6912.37 that day after the Bank of Korea Monetary Policy Board raised the base rate from 2.75% to 3.0% in the morning.
Borrowed 2 million won, told to “Repay 4 million” … illegal private loans, now ‘one-stop’ resolution on the Financial Supervisory Service website
A woman in her 40s, Ms. A, who is raising a middle-school-aged child alone, was in financial difficulty due to job loss and a failed business. Because basic livelihood benefits alone made it hard to cover monthly living costs, Ms. A borrowed 2 million won from five illegal private lenders. However, the total amount she had to repay under the contract was 4 million won, and the annual interest rate reached around 3,500%.
The ‘Invisible Hand’ Holding Back the KOSPI: U.S. Long-Term Treasury Yields Explained
This is the [What the Economy Is] column written by reporters on the Kyunghyang Shinmun business desk. We present the week's economic news in a simple and engaging way. Many investors have likely been disappointed with the domestic stock market recently. The KOSPI, which kept tumbling through last month, has bounced slightly in August but still sits more than 25% below its June peak.
KOSPI jumps 5% on SK hynix mega shareholder return… 7,000 in sight
The KOSPI index surged more than 5% on the 20th, putting a recovery of the 7,000 level within sight. A large-scale treasury-share cancellation announced by SK hynix the previous day served as a catalyst for the rally. On the day, the KOSPI closed at 6,852.58, up 381.41 points (5.89%) from the previous session. During the early surge, a buy sidecar (temporary halt of program trading) was triggered at one point in the morning. SK hynix led the overall rise in the index.
“What about my child, what about the house? I can’t sleep at night”···Employees unsettled by rumors of relocating financial institutions to the provinces
Government to announce plan for relocating public institutions to the provinces as early as the 25th Financial Services Commission·Financial Supervisory Service·Korea Deposit Insurance Corporation to Sejong, Export-Import Bank of Korea·Korea Development Bank·Industrial Bank of Korea likely to Busan Employees protest, saying “decisions on matters of livelihood are being made lightly for political reasons” NH NongHyup·National Federation of Fisheries Cooperatives also in turmoil···moving to...
KOSPI rose all week... semiconductor peak narrative lost steam
This week, the KOSPI rose for five consecutive sessions. On the 14th, the index briefly exceeded 7,000 during intraday trading. Sentiment is improving as concerns that the semiconductor industry had already peaked, which dragged shares lower last month, are gradually fading. That day, the KOSPI closed at 6,977.94, up 164.60 points (2.42%) from the previous session.
KakaoBank executives buy about 400 million KRW worth of company shares
KakaoBank’s executives have purchased just over 400 million KRW worth of company shares. The move reflects their confidence in the company’s medium- to long-term growth prospects and their commitment to enhancing corporate value. KakaoBank said on the 14th that 12 executives bought a total of 21,100 KakaoBank shares on the open market from June through August 12. According to the Financial Supervisory Service’s electronic disclosure system, the total purchase amount was 464.83 million KRW.
‘Scraped-together sites’ get a groundbreaking timetable, and even private redevelopment rules are eased··· mobilizing every available means
The government's plan unveiled on the 13th, titled ‘Housing Swift Supply Plan for Stabilizing the Real Estate Market’, can be seen as mobilizing every available tool. In addition to lifting greenbelt restrictions and launching public housing sites in the shortest possible time, it also eased private redevelopment and reconstruction rules by lowering initial consent thresholds for maintenance projects. Through this, it plans to push annual groundbreaking for 30,000 homes in Seoul alone.
About 30 trillion won more in household loans to be supplied this year···Relocation·final-payment loans likely to get breathing room
Financial authorities will double the target growth rate for total household debt this year, from 1.5% to around 3%. Consequently, loan supply capacity in the second half is expected to increase by about 30 trillion won, which should somewhat improve lending conditions for genuine end-users who have struggled to obtain relocation·final-payment loans.
‘Penny-Stock Purge’ Has Begun…36 Listed Companies Put on Watchlist, Countdown to Delisting
As the financial authorities strengthened delisting requirements starting last month to expel distressed companies, 36 issues with markedly low prices, so-called ‘penny stocks’, and those ‘below the market-cap standard’ were designated as watchlist items. If they fail to resolve the grounds for designation, delistings could materialize as early as October.
‘Debt-fueled investing’ that had withered in the bear market is resurfacing… Delinquencies on ‘overdraft credit lines’ are surging among young and older adults
As the KOSPI index, which had plunged recently, shows signs of rebounding, ‘debt-fueled investing’ (borrowing to invest) via brokerages is growing again. Another channel for ‘debt-fueled investing’, bank overdraft credit lines, appears to have seen delinquency rates surge, centered on older adults and young people. Experts warned that vulnerable borrowers should be more cautious about debt-fueled investing.
Plunge·plunge·drop at the ‘5,500 level’…retail investors dump again, foreigners ‘scoop up’
Down 34% on the KOSPI in July…brokerages steadily cut targets for Samsung Electronics·SK hynix On the 30th, individuals sold a net 1.4199 trillion won, while foreigners ‘bought the dip’ with 1.3329 trillion won Among overseas institutions, “Korea is like gambling”...warnings over extreme market volatility After two straight days of steep declines, the KOSPI failed to rebound on the 30th as well.
Late-session price whipsaws, to be tamed by single-stock leverage through ‘distributed rebalancing’
The Financial Investment Association held an emergency meeting with eight asset managers… decided to split trades during the session·after the close To reduce the market volatility that single-stock leveraged products on Samsung Electronics and SK hynix trigger just before the close, a plan will be pursued to split rebalancing (asset readjustment) into multiple intraday batches.
Curbing end-of-session ‘wild price swings’···Pursuing intraday dispersion of single-stock leveraged rebalancing
Eight asset managers to change leveraged trading methods The Korea Financial Investment Association: “Minimize the impact on underlying assets” They decided to pursue a plan to curb market volatility triggered just before the closing time by single-stock leveraged products on Samsung Electronics and SK hynix, by conducting rebalancing (asset readjustment) several times throughout the trading day.
“‘KOSPI will reach 15,000,’ they said; within a month it plunged to the 5,000 level… “Flows and sentiment outweigh negatives”
“The KOSPI will go to 15,000.” That was the outlook released on the 25th of last month by global investment bank Goldman Sachs. It came three days after the KOSPI hit an all-time high of 9,114.55 (June 22). At the time, not only retail investors but also domestic and overseas institutions were buoyed by rosy expectations. From that point, however, the KOSPI fell nearly 40% over the next month, taking a steep slide.
“Reviewing a 20% cap on leverage exposure to Samsung Electronics and SK hynix”… All-out push to rein in volatility
‘Also requesting dispersed rebalancing times, including early implementation of higher basic deposits and expanded trading units’ The financial authorities stated on the 28th that they would even consider measures to limit the per-person investment limit for the single-stock leverage products tied to Samsung Electronics and SK hynix, identified as a factor that has recently increased stock market volatility.
‘Samsung Electronics·SK hynix single-stock leverage’ base deposit hike D-3, financial authorities: “If it still does not calm down? Considering a ‘20% investment cap’”
On the 28th, the financial authorities said they would consider measures to cap individual exposure to ‘Samsung Electronics·SK hynix single-stock leverage’ products, which have been identified as a cause of the recent increase in stock market volatility.
July KOSPI: National Pension Service buys, retail investors exit
In a domestic market that fell 20% in a month National Pension Service defies ‘sell-off bomb’ fears Net buying of 68.4 billion won in SK Hynix and others Overseas retail flows more than quadruple As the KOSPI fell by more than 20% in July, domestic investors are once again turning to the United States. While sidelined cash in the domestic market is drying up quickly, funds flowing into U.S. equities nearly quadrupled within a month.
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