韩国公布了2026年创纪录的728万亿韩元预算计划，比今年增长8.1%，是2025年增长速度的三倍多。财政部指出，此次扩张旨在重振因美国关税、福利成本上升和人口压力而紧张的经济，将部分通过创纪录的232万亿韩元债券发行来融资。韩国总统李明博政府表示，这笔支出将推动“经济转型”，将支持引向人工智能、半导体、造船和韩国文化，同时促进小企业和地区增长。国防支出将增长8.3%，达到66.3万亿韩元，用于资助先进武器、无人机和应对朝鲜威胁。尽管特朗普总统敦促美国盟友提高国防开支，但官员们表示，与华盛顿的谈判正在进行中，并指出增加国防开支将使国防开支达到GDP的2.4%左右。

South Korea unveiled a record KRW 728 trillion budget plan for 2026, marking an 8.1% increase from this year, more than triple the pace of 2025’s rise. The expansion, aimed at reviving an economy strained by U.S. tariffs, rising welfare costs, and demographic pressures, will be financed partly through a record KRW 232 trillion bond issuance, the finance ministry noted. President Lee Jae Myung’s government said the spending will drive an “economic transformation,” channeling support into AI, semiconductors, shipbuilding, and K-culture, while fostering small businesses and regional growth. Defense outlays will climb 8.3% to KRW 66.3 trillion, funding advanced weapons, drones, and responses to North Korean threats. While President Trump has pressed U.S. allies to raise defense spending, officials said talks with Washington are ongoing, noting the increase would bring defense spending to about 2.4% of GDP.

周五，韩元兑美元汇率在连续两个交易日上涨后保持在1386美元左右，因为市场权衡了经济数据和韩国央行的稳定政策立场。7月份的报告显示，韩国工业产出、零售额和设施投资这三个关键指标罕见地同时增长，这是自2月份以来的首次“三倍增长”。这表明，尽管面临外部阻力，但国内势头更加强劲，对美国关税和出口放缓的担忧起到了平衡作用，同时也突显了政府刺激措施对消费和投资的切实影响。市场也继续消化韩国央行一天前决定将基准利率保持在2.50%不变，同时谨慎地将2025年的增长率上调至0.9%，并对家庭债务和房地产风险发出警告。从外部来看，美元在美国个人消费支出通胀数据公布之前企稳，交易员正在等待美联储9月份可能降息的确认。

The South Korean won held around 1,386 per dollar on Friday after rising for two straight sessions, as markets weighed economic data and the Bank of Korea’s steady policy stance. July reports showed a rare simultaneous gain in all three key indicators in South Korea: industrial output, retail sales, and facility investment, marking the first “triple increase” since February. This pointed to firmer domestic momentum despite external headwinds, providing a counterweight to concerns over US tariffs and slowing exports, while also underscoring the tangible impact of government stimulus on consumption and investment. Markets also continued to digest the Bank of Korea’s decision a day earlier to keep its base rate unchanged at 2.50%, alongside a cautious growth upgrade to 0.9% for 2025 and warnings over household debt and property risks. Externally, the dollar steadied ahead of the US PCE inflation release, with traders awaiting confirmation of potential Fed rate cuts in September.

基准韩国综合股价指数周五下跌0.15%，至3191点左右，结束了连续两天的上涨，金融和能源股的疲软抵消了国内经济复苏的迹象。金融股领跌，因韩国央行决定将利率维持在2.5%的不确定性，同时暗示可能在三个月内降息，引发了人们对银行贷款利润率的担忧，新韩金融集团（-1.21%）和KB金融集团（-0.18%）的跌幅显著。能源股也走弱，此前有报道称，石化行业将进行全面重组，削减石脑油裂解产能，拖累SI Resources（-3.05%）和SK Innovation（-1.17%）下跌。尽管如此，数据显示经济保持稳定，7月份工业产出连续第二个月增长0.3%，零售额增长2.5%，设施投资在经历了四个月的下降后反弹7.9%。

The benchmark KOSPI slipped 0.15% to around 3,191 on Friday, ending a two-day winning streak as weakness in financials and energy stocks offset signs of resilience in the domestic economy. Financials led declines as uncertainty over the Bank of Korea’s decision to hold rates at 2.5% while signaling possible cuts within three months raised concerns about banks’ lending margins, with notable declines from Shinhan Financial Group (-1.21%) and KB Financial Group (-0.18%). Energy counters also weakened after reports of a sweeping petrochemical sector restructuring that will trim naphtha-cracking capacity, dragging SI Resources (-3.05%) and SK Innovation (-1.17%) lower. Still, data showed the economy holding up, with industrial output rising 0.3% in July for a second month, retail sales jumping 2.5%, and facility investment rebounding 7.9% after four months of decline.

2025年7月，韩国零售额环比飙升2.5%，高于6月修正后的0.7%的增长，标志着两年多来增长最快。各类别销售额均有所增长，其中耐用品（+5.4%），如电信设备和电脑，半耐用品（+2.7%），包括服装和娱乐用品，以及非耐用品（+1.1%），例如食品、药品和文具。零售额是衡量私人消费的关键指标，可以洞察消费者行为和更广泛的经济情绪。

South Korea’s retail sales surged 2.5% month-over-month in July 2025, accelerating from a revised 0.7% increase in June and marking the fastest growth in over two years. Sales rose across categories, led by durable goods (+5.4%) such as telecommunications equipment and computers, semi-durable goods (+2.7%) including clothing and recreational items, and non-durable goods (+1.1%) such as food, pharmaceuticals, and stationery. Retail sales are a key gauge of private consumption, providing insights into consumer behavior and broader economic sentiment.