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Park Han-sol

Korea Times Finance Reporter

Park Han-sol reports on Korea's financial regulators, along with fintech and insurance. She previously wrote about the art world, from biennales and exhibitions to fairs and auctions, with a focus on Seoul and the figures shaping the scene. Before joining The Korea Times, she spent a year at ABC News' Seoul bureau, contributing to coverage of major Asia-Pacific events.

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Economy

KOSPI tumbles as Democrat sweep fuels AI infrastructure concerns

Korean stocks plunged Thursday, as concerns over tighter U.S. regulation of artificial intelligence (AI) and data center development triggered a broad sell-off in semiconductor shares following sweeping Democratic victories in the midterm elections. The benchmark KOSPI opened at 5,580.09, down 1.82 percent from the previous close, according to the Korea Exchange. It remained in negative territory throughout the session, eventually closing at 5,383.80, down 5.28 percent. The decline was driven largely by a rout in Samsung Electronics and SK hynix, the country’s two semiconductor heavyweights, which together account for roughly half of KOSPI’s market capitalization. Their outsized weight left the index particularly vulnerable to a shift in sentiment toward the chip sector. SK hynix plunged 9.46 percent to 1.26 million won, while Samsung Electronics tumbled 7.57 percent to close at 201,500 won. The weakness in Korean chip stocks followed a sell-off in related U.S. shares overnight. Nvidia fell 3.17 percent, while chipmakers Micron and SanDisk lost 7 percent and 7.91 percent, respectivel

13h agoBy Park Han-sol
KOSPI tumbles as Democrat sweep fuels AI infrastructure concerns
Economy

Korea tightens corporate governance disclosure rules to strengthen shareholder protections

All companies listed on the benchmark KOSPI will face tougher disclosure requirements on boardroom changes and major corporate transactions under new rules designed to give shareholders greater oversight of corporate governance, financial authorities said Thursday. The changes, announced by the Financial Services Commission and the Korea Exchange, expand the information companies must provide in their annual corporate governance reports. The move comes after the reporting requirement was extended to all 826 KOSPI-listed companies this year. One focus is on preventing companies from circumventing the revised Commercial Act that is designed to give minority shareholders a greater say in board appointments. Under the law, listed companies with assets of at least 2 trillion won ($1.49 billion) must incorporate cumulative voting, which allows shareholders to pool their votes behind a particular director candidate, improving the chances of minority shareholders electing a representative to the board. Some companies, however, have sought to avoid the rule by shrinking their boards or changing d

14h agoBy Park Han-sol
Korea tightens corporate governance disclosure rules to strengthen shareholder protections
Economy

Democrats' win could compound pressures on AI spending, Korean chipmakers

Democrats’ sweeping gains in the U.S. midterm elections, combined with growing public opposition to data centers and mounting financing demands on Big Tech companies, could slow the pace of artificial intelligence (AI) investment and weigh on Korean chipmakers, market watchers said Wednesday. Although the vote counting is still under way, Democrats are poised to win control of both the Senate and the House of Representatives in a historic “blue wave,” representing a major setback for U.S. President Donald Trump and his Republican Party. According to a report by the Bank of Korea’s New York Representative Office, the election outcome is unlikely to prompt major changes in the Trump administration’s overall policy direction, but could “have a limited impact on AI regulation and the pace of related investment.” “Even if Democrats control both chambers, they are unlikely to have the two-thirds majority needed to override a presidential veto. That limits what they can actually block or push through. So it’s difficult to expect the election results alone to have an immediate

1d agoBy Park Han-sol
Democrats' win could compound pressures on AI spending, Korean chipmakers
Trends

Viral 'text hip' trend boosts bookstore sales, brings literature to food aisles

For years after graduating from college, Park, an office worker in her early 30s, barely set foot in a bookstore. Having spent so much of her academic life buried in texts, she thought her days of reading for pleasure were behind her. Then came October 2024, when Han Kang, author of the International Booker Prize-winning novel “The Vegetarian,” became the first Asian woman to win the Nobel Prize in Literature. “I remember going to Kyobo’s Gwanghwamun branch and being overwhelmed by the crowds of people trying to get their hands on Han's books,” she said. “That’s when I realized reading didn’t have to feel like an obligation. It could be something you enjoy for its own sake and share with other people.” The experience was made all the more appealing by the growing array of literary accessories — from fabric book covers and book pouches to bookmarks, paperweights and decorative book rings — that added an aesthetic dimension to the hobby. Since then, visiting bookstores has become a regular pastime for Park. Her most recent visit, a week ago, was to pick up “Autobiog

1d agoBy Park Han-sol
Viral 'text hip' trend boosts bookstore sales, brings literature to food aisles
Banking & Finance

Glass Lewis supports Lee Jae-keun's appointment as KB Financial chairman

Glass Lewis has advised shareholders to support the appointment of Lee Jae-keun as chairman of KB Financial Group, according to a voting recommendations report exclusively obtained by The Korea Times on Tuesday. The world’s second-largest proxy advisory firm said it had identified “no substantial issues for shareholder concern” regarding the proposed appointment. The report also flagged several ongoing issues facing the group, including allegations of collusion over loan terms and subsequent investigations by the Fair Trade Commission, as well as the Financial Supervisory Service’s investigation into the potential mis-selling of Hong Kong-linked equity-linked securities. While noting it had found no clear evidence linking the board to these matters that would warrant specific action at the upcoming shareholders’ meeting, Glass Lewis added that the ongoing legal proceedings and discussions would continue to be monitored. Such issues “may indicate weak internal controls or inadequate oversight of the Group, which could lead to undermining shareholder value, and therefore warran

2d agoBy Lee Yeon-woo and Park Han-sol
Glass Lewis supports Lee Jae-keun's appointment as KB Financial chairman
Economy

GS E&C data breach exposes blind spots in Korea's smart apartments

When Park, a 56-year-old homemaker living in an apartment complex in Suwon, Gyeonggi Province, heard that GS Engineering & Construction (GS E&C) had recently detected unauthorized access to a system containing residents’ personal information, the news struck a nerve. “Sure, I’ve had my personal information exposed in the Coupang and SK Telecom data breaches, among many others. Over time, I found myself becoming less concerned. Everyone seemed to be getting hit, and it felt like I was just another number in a database,” she said. This time, however, it felt much closer to home, quite literally. “The information involved could reveal details about my own household. Our apartment complex, like many newer developments, relies on smart home services for everyday tasks. We use an app to track package deliveries and vehicle entry and exit, another to access the building, and I hear the sports center is introducing facial recognition for entry. If that kind of information gets exposed, it feels like someone might actually be able to track my every move.” Her concerns point to a growi

Nov 2, 2026By Park Han-sol
GS E&C data breach exposes blind spots in Korea's smart apartments
Economy

Hanwha Life, Hyundai Steel, Lotte Shopping among 151 firms flagged for persistently low valuations

Hanwha Life Insurance, Hyundai Steel and Lotte Shopping are among 151 companies publicly flagged by the Korea Exchange for their persistently low valuations. The bourse operator revealed the list Sunday in an unprecedented move aimed at pushing listed firms to improve their corporate value. The initiative targets companies that have consistently traded at low price-to-book ratios (PBRs) while doing little to return capital to shareholders. Whether the public disclosure will spur them to take concrete steps to boost their valuations and help narrow the so-called "Korea discount" remains to be seen. The list comprises 96 KOSPI-listed companies and 55 on the Kosdaq that ranked in the bottom 25 percent and 10 percent, respectively, of their markets in terms of PBR over the past three years. PBR measures a company's market capitalization relative to its net assets, showing how much investors are willing to pay for each unit of book value. A ratio below 1 means the company is valued at less than its net assets, potentially reflecting concerns about its growth prospects or how efficiently it d

Nov 1, 2026By Park Han-sol
Hanwha Life, Hyundai Steel, Lotte Shopping among 151 firms flagged for persistently low valuations
Banking & Finance

KB Kookmin Bank to lead $9.45 bil. AI infrastructure financing

KB Kookmin Bank has secured the lead arranger role in a 12.6 trillion won ($9.45 billion) project to build artificial intelligence (AI) computing infrastructure in Korea, the lender said Sunday. Led by Brookfield, one of the world’s largest alternative asset managers, the project involves acquiring major high-performance computing equipment, including graphics processing units (GPUs), and supplying the infrastructure to Naver Cloud. The deal marks the largest syndicated loan arrangement in Korea’s history. Such loans allow multiple financial institutions to jointly finance a large-scale project. It is also the country’s first GPU financing deal — a departure from conventional project financing, which has typically centered on assets like real estate or power plants. Rather than relying on immediate returns, the structure uses anticipated long-term revenue from supplying AI computing capacity to support the project's substantial upfront investment needs. Of the 12.6 trillion won in total costs, roughly 10.7 trillion won will be raised through loans. As lead arranger, KB Kookmin Ba

Nov 1, 2026By Park Han-sol
KB Kookmin Bank to lead $9.45 bil. AI infrastructure financing
Banking & Finance

Major financial groups enjoy strong Q3 earnings, but face mounting regulatory pressure

Korea’s four largest financial groups — KB, Shinhan, Hana and Woori — have shown strong earnings for the third quarter of this year, posting a combined 5.76 trillion won ($4.31 billion) in net profit. But a recent wave of cyberattacks and data breaches, as well as tougher regulatory scrutiny of corporate governance, are adding to the challenges they face, industry officials said Thursday. According to market data, KB Financial Group led the pack with a third-quarter net profit of 1.91 trillion won, up 13.1 percent from a year earlier. Its cumulative profit for the first nine months reached a record 5.79 trillion won. Shinhan followed with 1.58 trillion won, an 11.3 percent increase from the same period last year. Its nine-month net profit also hit a record, at 5.03 trillion won. Hana logged a net profit of 1.22 trillion won, its highest quarterly figure since the 2015 merger of Hana Bank and Korea Exchange Bank. Woori was the only one of the four to post a decline, with net profit falling 15.7 percent to 1.04 trillion won. Even so, it recorded a quarterly profit of over 1 trillion

Oct 29, 2026By Park Han-sol
Major financial groups enjoy strong Q3 earnings, but face mounting regulatory pressure
Banking & Finance

Mirae Asset to reenter Japan with acquisition of Sanko Securities

A decade after it exited the country, Mirae Asset Securities is set to reenter Japan through its acquisition of local brokerage Sanko Securities, as it looks to expand its presence in a market where retail investment is gaining momentum, the company said Thursday. The company said its board approved a plan to purchase 100 percent of the stakes in Sanko Securities through its U.S. affiliate, Mirae Asset Securities Holdings. The deal is valued at an estimated 42.6 billion won ($35.62 million), with the final price to be determined at closing after regulatory approvals and other conditions are met. Mirae Asset will inject a total of 100.6 billion won into its U.S. affiliate to fund the acquisition and subsequent business expansion in Japan. Sanko, which operates under Okasan Securities Group, specializes in proprietary trading — buying and selling stocks, bonds and other securities with its own capital to generate returns. It posted a net profit of roughly 400 million won and net assets of 39.1 billion won for the fiscal year ended March 2026, the company said. The acquisition will give M

Oct 29, 2026By Park Han-sol
Mirae Asset to reenter Japan with acquisition of Sanko Securities
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