KOSPI KOSDAQ tumble; KRW weakness continues; Outdoor mask-wearing lifted; Blackpink tops Billboard 200

on

News happening now in Korea

Stock market tumbles; Currency weakness continues; Outdoor mask-wearing lifted; Blackpink tops Billboard 200


Monday, September 26, 2022


It is only the start of the week and there are a horde of hard news hitting this country. Here are some of the news happening now in South Korea.


KOSPI-KOSDAQ-September 26, 2022 (Source: Daum)

  • The benchmark Korea Composite Stock Price Index (KOSPI) plunged about 3.1%, while the tech-heavy KOSDAQ crossed the 700-point line by closing at 692.38, down 5.07% from the previous trading day.
  • South Korea’s currency, won (KRW), continued to slide and passed below the 1,430 won mark against the U.S. dollar, marking a 13-year low per greenback, over Federal Reserve’s and other central banks’ monetary tightening amid the grim economic outlook.
  • Bank of Korea (BOK) Governor Rhee Chang-yong said the central bank is “exchanging information with U.S. Federal Reserve” with regards to possible currency swap deals, though he said “we are not in a situation where a currency swap line is needed.”
  • South Korea fully lifted outdoor mask mandates from Monday as the country’s new Covid-19 cases fell to the lowest level over the past couple of months. But health authorities said the rules for indoor mask wearing will have to stay in place for the time.
  • Blackpink became the first K-pop girl group to top “Billboard 200” with its latest and second full-length album “Born Pink.” BTS, SuperM and Stray Kids - all boy groups - are the K-pop groups that made the same achievements before, but it is the first time for a girl group to make the feat.


(End of text)