Korea Macro Daily(Beta Mode)
Won Weakens Past 1,500 as KOSPI Slumps 6%
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| KOSPI | 7,493.18 | -6.12% |
| KOSDAQ | 1,129.82 | -5.14% |
| USD/KRW | 1,497.92 | +0.31% |
| Samsung | 270,500.00 | -8.61% |
| SK Hynix | 1,819,000.00 | -7.66% |
| Brent Crude | 109.26 | +3.35% |
| Gold | 4,561.90 | -2.48% |
| Bitcoin | 78,289.48 | +0.20% |
| Korea Short-term Rate | 2.52% | -0.40% |
| Korea Long-term Rate | 3.74% | +0.24% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Korea Short-term Policy Rate | Type: macro_line | Policy Rate %: 2.517 (2026-04-01) | Range: 0.51–3.639 | Trend(6pt): 0.51,2.263,3.517,3.055,2.541,2.517
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| Thursday (2026-05-21) | |||
| Consumer Confidence Index | 99.20 | - | 17:00 |
- KOSPI and KOSDAQ fell sharply on semiconductor weakness and foreign outflows
- USD/KRW rose to 1,497.92 as the won weakened past the 1,500 handle
- New BoK board member flagged rising inflation risks while markets price steady policy
Yesterday's Recap
Korean equities sold off heavily with KOSPI closing at 7,493.18, down 6.12 percent, and KOSDAQ dropping 5.14 percent to 1,129.82. Samsung Electronics fell 8.61 percent to 270,500 won while SK Hynix declined 7.66 percent to 1,819,000 won amid broad tech rotation. The won weakened further as USD/KRW climbed 0.31 percent to 1,497.92 on sustained foreign capital outflows.
A newly appointed Bank of Korea board member stated that inflation worries are heightening, while the departing member urged continued focus on inflation control. Short-term rates eased 0.40 percent to 2.52 percent, consistent with the BoK base rate, while long-term yields rose 0.24 percent to 3.74 percent. Brent crude gained 3.35 percent to 109.26, adding to imported inflation pressures.
The Day Ahead
Attention turns to the Consumer Confidence Index release scheduled for May 21 at 17:00 local time. No major domestic data prints are due today. Market participants will monitor any follow-up remarks from Governor Shin Hyunsong ahead of his first G7 Finance Ministers meeting in Paris.
Global risk sentiment and US data surprises could influence won flows and equity positioning. Traders will also watch stablecoin-related developments involving Toss for potential won volatility signals.
Other Economic Notes
Asset management deposits surged 100 trillion won, reflecting ongoing portfolio shifts amid equity weakness. Savings banks saw mid-interest loans contract by 1 trillion won, pointing to tighter credit conditions for smaller borrowers. The Bank of Korea continues to address the decline in ATMs despite 215 trillion won in circulation, seeking operational solutions.
Export-Import Bank of Korea launched an AI-based development project in Sri Lanka, expanding its overseas footprint.
Global Macro News
French CAC 40 equities slid 1.60 percent as geopolitical risks and rate concerns weighed on sentiment. Weaker China PMI readings helped ease global oil prices earlier but Brent rebounded, supporting Korea’s terms-of-trade outlook. US tech earnings strength provided limited relief to Korean semiconductor names given the broad market selloff.
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