President Yoon Suk-yeol said Friday the government will take necessary and timely steps to protect the people against increasing financial volatility. Yoon made the remark while presiding over a macrofinancial meeting with government and business officials, citing an "unprecedentedly strong dollar" and the US Federal Open Market Committee's decision last week to raise the interest rate. "The level of shock from the crisis that began from external factors will depend on how we

Seoul stocks opened lower Friday, taking a cue from overnight losses on Wall Street that stemmed from growing recession fears. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 7.64 points, or 0.35 percent, to 2,163.29 points in the first 15 minutes of trading. The market has been in the doldrums, as the key stock index closed at the lowest since July 2020 this week. In Seoul, market bellwether Samsung Electronics slid 0.962 percent, while chip giant SK hynix jumped 2.35 percent.

Combined assets held by 100 individuals worth W2.52tr, or 206 homes each