The Korea Times

AI is rewriting corporate leadership playbook: MetLife global HR chief

“The playbook just hasn’t been written yet.” That’s how Shurawl Sibblies describes the challenge confronting today’s leaders as artificial intelligence (AI) accelerates change faster than organizations can comfortably absorb it. For the MetLife executive vice president and chief human resources officer (CHRO), however, the technology itself is only part of the story. The more profound shift, she argues, lies in the nature of leadership itself. “The pace of change, the velocity, is so fast and probably unlike anything we’ve ever experienced,” Sibblies said during her first visit to Korea last week. That, she believes, calls for a different leadership instinct. In an environment where change outpaces experience, the willingness of leaders to admit they don’t have every answer is becoming as important as their ability to provide direction. “Making it OK to be vulnerable with your teams and say, ‘I don’t have all the answers, but this is what I do know, and we’re going to learn together,’ makes such a difference,” she said. “It’s a bit of humility that’s re

Jul 15, 2026By Park Han-sol

AI is rewriting corporate leadership playbook: MetLife global HR chief

Banking & Finance

Citi Korea named best global custodian in Korea for 2nd straight year

Citi Korea has been named the best global custodian in Korea at The Asset Triple A Awards for the second consecutive year, the lender said Monday. The award recognizes the bank’s custody and asset servicing capabilities, including support for domestic institutions investing overseas and international clients investing in Korea. According to The Asset, a leading business news and research organization in Hong Kong, Citi Korea stood out for its ability to facilitate cross-border investment at a time of growing interest in Korean equities, particularly in the AI and semiconductor sectors, as well as the rapid expansion of the exchange-traded fund (ETF) market. Leveraging Citi’s global network, the bank offers a range of services spanning custody, fund administration and ETF servicing, supporting institutional clients’ cross-border investment and asset management activities. Citi Korea also said it has worked closely with financial authorities and market infrastructure operators on initiatives to improve the competitiveness of Korea’s capital markets, including reforms to the foreign

Jul 13, 2026By Park Han-sol

Citi Korea named best global custodian in Korea for 2nd straight year

Companies

EXPLAINER How $133 mil. funding dispute between MBK, Meritz pushed Homeplus toward collapse

Once Korea’s second-largest discount store operator, Homeplus decided to temporarily close stores beginning Monday after running out of cash, leaving it unable to pay suppliers or even cover basic operating expenses. The retailer now faces an uncertain future after the Seoul Bankruptcy Court terminated its rehabilitation proceedings earlier this month. Without an immediate 200 billion won ($133 million) cash injection, industry observers say it is effectively on the path toward liquidation unless a last-minute rescue materializes. Why $133 million? So why has 200 billion won become the figure that could determine Homeplus’ fate? The number represents the minimum amount the court said the company needed to carry out its restructuring plan. After years of struggling with the decline of Korea’s hypermarket sector and consumers’ shift to online shopping, Homeplus — owned by private equity firm MBK Partners — initially sought a buyer. But no deal materialized. One hurdle was an accounting assessment that valued the company more highly in liquidation than as a going concern — by mor

Jul 13, 2026By Park Han-sol

[EXPLAINER] How $133 mil. funding dispute between MBK, Meritz pushed Homeplus toward collapse

Economy

EV boom brings higher insurance costs for drivers

When the owner of a Volkswagen ID.5 checked his insurance renewal quote, he had to do a double take. Despite another year of accident-free driving, his annual premium jumped from 430,000 won ($286) to 700,000 won. “Has anyone else's insurance gone up this much?” wrote the driver, who is in his late 40s, in an online forum for electric vehicle (EV) owners. Another forum user, who is waiting on a delivery of a newly ordered EV, said the insurance quote alone gave him second thoughts. “I was told it would cost 300,000 to 400,000 won more than my gasoline car,” he wrote. “I guess I’ll have to make up for it through savings on charging and vehicle taxes.” For many EV owners in Korea, those experiences are becoming increasingly familiar. As EVs gain market share in the country — helped by lower running costs, government subsidies and a growing range of models — many drivers say unexpectedly high insurance premiums are eroding much of the financial advantage of switching from gasoline-powered cars. According to the Ministry of Land, Infrastructure and Transport, 220,177 new EVs

Jul 12, 2026By Park Han-sol

EV boom brings higher insurance costs for drivers

Banking & Finance

Korea Eximbank partners with Mongolia to boost Korean consumer goods exports

The Export-Import Bank of Korea (Korea Eximbank) signed a memorandum of understanding with Mongolia's Trade and Development Bank (TDB) to provide a $30 million on-lending facility aimed at boosting exports of Korean consumer goods, the state-run lender said Sunday. Under the arrangement, Korea Eximbank will extend financing to TDB, which will then lend the funds to local importers purchasing Korean products. The indirect financing scheme is intended to improve access to trade finance while supporting bilateral commerce. The agreement comes as demand for Korean consumer goods and K-culture continues to grow in Mongolia. TDB, which operates more than 90 branches nationwide, serves a broad base of importers of Korean food, beverages, cosmetics and other products. The facility marks Korea Eximbank's first on-lending program for Mongolia since the country's 2017 foreign exchange crisis. The lender said it expects the program to help Korean exporters expand their presence in the market while easing funding constraints for companies already operating there. Leveraging TDB's nationwide network,

Jul 12, 2026By Park Han-sol

Korea Eximbank partners with Mongolia to boost Korean consumer goods exports

Banking & Finance

Hana Financial's private reverse mortgage draws $220 mil. in 1st year

Hana Financial Group’s private reverse mortgage has attracted more than 330 billion won ($220 million) in subscriptions from over 260 customers since its launch a year ago, the group said Thursday. Introduced in May 2025, the product was designed to fill a gap in Korea’s reverse mortgage market, where government-backed programs dominate. A reverse mortgage allows older homeowners to convert part of the value of their home into a steady stream of income while continuing to live in the property. Because public reverse mortgages are unavailable for homes valued above 1.2 billion won, many seniors with high-value properties have had few options for unlocking housing wealth in retirement. Hana’s offering combines Hana Bank’s real estate trust service with a lifetime annuity from Hana Life. It also adopts a nonrecourse structure, ensuring customers receive pension payments for life even if the total amount ultimately exceeds the value of the property. To mark the product’s first anniversary, the group hosted an appreciation event for more than 50 customers at its Seoul headquarters o

Jul 9, 2026By Park Han-sol

Hana Financial's private reverse mortgage draws $220 mil. in 1st year

Banking & Finance

Hyundai Card tests stablecoin in live cross-border corporate payment

Hyundai Card has completed what it said was the first stablecoin-based intercompany payment between overseas subsidiaries of Hyundai Motor, signaling the technology’s potential for broader corporate use, the company said Thursday. The proof-of-concept testing involved a cross-border payment between Hyundai Motor’s operations in the United States and Mexico. A second trial involving the automaker’s European subsidiaries is scheduled to take place later this month. According to Hyundai Card, the initiative is significant as it applied stablecoin technology to an actual intercompany settlement at a major multinational, rather than limiting its use to experimental projects led by IT or fintech firms. In the first pilot, Hyundai Motor America converted $20,000 into the U.S. dollar-pegged stablecoin and sent it to Hyundai Motor Mexico, where it was converted back into dollars. Among the partners in the project were stablecoin issuer Tether, blockchain platform Avalanche and blockchain payments infrastructure provider Axiym. The entire process, from payment to settlement verification, took

Jul 9, 2026By Park Han-sol

Hyundai Card tests stablecoin in live cross-border corporate payment

Education

Semiconductor tax windfall revives debate over Korea's education funding formula

Korea earmarks 20.79 percent of each year's domestic tax revenue to fund elementary, middle and high schools across the country under a decades-old formula designed to insulate education spending from economic and political fluctuations. This year, however, an unprecedented semiconductor boom is set to swell corporate tax receipts, automatically channeling a substantial share of the windfall into education. Yet the allocation has already more than doubled over the past decade — rising from 39 trillion won ($25.9 billion) in 2015 to a projected record high of over 80 trillion won this year — even as the school-age population shrank from 6.4 million to 4.92 million. That growing disconnect has fueled calls from fiscal authorities to overhaul the current formula. At a public forum co-hosted by the Ministry of Planning and Budget and the Ministry of Education on Wednesday, government officials and experts debated whether the half-century-old system still makes sense in today's demographic and fiscal realities. Budget Minister Park Hong-keun said the current funding system no longer reflec

Jul 8, 2026By Park Han-sol

Semiconductor tax windfall revives debate over Korea's education funding formula

Banking & Finance

Korea Investment Corp. opens Tokyo office to expand Asia-Pacific presence

Korea Investment Corp. (KIC), the country’s sovereign wealth fund, has opened its sixth overseas outpost in Tokyo as it seeks to strengthen its investment presence across the Asia-Pacific region, the company said Tuesday. The move comes as Japan’s economy shows signs of a structural recovery after years of sluggish growth and deflation, with wages, prices and corporate earnings all on the rise. The improving outlook has made the country increasingly attractive to global investors. The Tokyo office will oversee investments across both traditional asset classes, including equities and fixed income, and alternatives such as private equity and real estate. KIC said a local presence will allow it to build stronger relationships in a market where trust and long-standing networks are critical to sourcing investment opportunities. It will also focus on uncovering opportunities available only on the ground while serving as a hub for information sharing and cooperation with Korean financial institutions operating in Japan. “The Tokyo office will play a pivotal role as a strategic hub, enabli

Jul 7, 2026By Park Han-sol

Korea Investment Corp. opens Tokyo office to expand Asia-Pacific presence

Economy

HD Hyundai, SK, CJ, Lotte face IPO dilemma under Korea's new subsidiary listing rules

The government’s new guidelines, which effectively bar the separate listing of subsidiaries spun off from listed parent companies that can erode shareholder value, have cast uncertainty over the initial public offering (IPO) plans of several high-profile Korean firms, according to industry experts, Tuesday. Among those forced to rethink their listing strategies are HD Hyundai Robotics, CJ Olive Young, Lotte Biologics and SK ecoplant, all of which have been regarded as strong IPO candidates. At the heart of the new regulations, unveiled Monday by the Financial Services Commission and the Korea Exchange, is a requirement that listed companies secure shareholder approval before separately listing subsidiaries created by spinning off part of their business while retaining control. The change puts minority shareholder protection at the center of the process. Boards will also be expected to present concrete measures to preserve shareholder value, such as raising cash dividends, canceling treasury shares or strengthening the parent company’s earnings power through new investments. HD Hyunda

Jul 7, 2026By Park Han-sol

Park Han-sol

Read more

AI is rewriting corporate leadership playbook: MetLife global HR chief

Citi Korea named best global custodian in Korea for 2nd straight year

EXPLAINER How $133 mil. funding dispute between MBK, Meritz pushed Homeplus toward collapse

EV boom brings higher insurance costs for drivers

Korea Eximbank partners with Mongolia to boost Korean consumer goods exports

Hana Financial's private reverse mortgage draws $220 mil. in 1st year

Hyundai Card tests stablecoin in live cross-border corporate payment

Semiconductor tax windfall revives debate over Korea's education funding formula

Korea Investment Corp. opens Tokyo office to expand Asia-Pacific presence

HD Hyundai, SK, CJ, Lotte face IPO dilemma under Korea's new subsidiary listing rules

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