Finance

Bank of Korea governor Shin Hyun-song says rate hikes needed before it is too late

Bank of Korea Governor Shin Hyun-song said there is a need to raise the policy interest rate before it is too late, stressing a focus on price stability. He said growth has strengthened on the back of solid semiconductor exports driven by the global spread of AI, but inflation burdens are rising. He also cited risks from the housing market, household debt and leveraged investing.

Fintech

KOSPI surges over 7 percent to reclaim 8,300 level; Kosdaq also back above 1,000

South Korea\'s KOSPI rose more than 7 percent early on Thursday, reclaiming the 8,300 level as investor sentiment improved after overnight gains on Wall Street. Semiconductor heavyweights including Samsung Electronics and SK Hynix led the advance. A buy-side car was triggered for the first time in three sessions as KOSPI200 futures surged. The Kosdaq also jumped, returning above 1,000. The won weakened to 1,521.80 per dollar.