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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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Banking & Finance

Capital soundness looms over major insurers' CEO reappointment decisions

With the terms of major insurers’ CEOs set to expire early next year, the companies’ capital strength is emerging as a key factor in their chances of reappointment, particularly as new rules requiring insurers to hold stronger financial cushion against losses are set to take effect in 2027, industry officials said Wednesday. The terms of Samsung Life Insurance CEO Hong Won-hak, Samsung Fire & Marine Insurance CEO Lee Mun-hwa, DB Insurance CEO Jeong Jong-pyo and Kyobo Life Insurance co-CEO Cho Dae-kyu are all due to expire in March. All four companies reported higher consolidated net profit in the first half of this year. Samsung Life posted 1.97 trillion won, followed by Samsung Fire & Marine with 1.37 trillion won, DB Insurance with 979.6 billion won and Kyobo Life with 704.8 billion won. But their capital positions showed a more mixed picture. The Korean Insurance Capital Standard (K-ICS) ratio, which measures an insurer’s financial ability to cover its liabilities and risks, rose at Samsung Fire & Marine in the second quarter to 282.8 percent, but fell at the other three — Sa

Oct 21, 2026By Park Han-sol
Capital soundness looms over major insurers' CEO reappointment decisions
Companies

Musinsa, Sono International face IPO uncertainty amid market volatility

Recent volatility in Korea’s stock market is adding uncertainty to the listing plans of companies like Musinsa, as a prolonged downturn could weigh on their valuations and dampen demand for new shares, according to industry analysts Tuesday. The benchmark KOSPI has largely declined since falling below 7,000 earlier this month, amid concerns over the sustainability of artificial intelligence (AI) spending and the outlook for the semiconductor industry. On Thursday, the index plunged more than 7 percent, triggering both a sell-side sidecar and a Level 1 circuit breaker, which temporarily halted trading. Such turbulence complicates the initial public offering (IPO) process. Firms must persuade investors that their valuations are justified even as the share prices of comparable listed peers fall. A broader market downturn could also leave newly listed shares trading below their offering prices, eroding their market value soon after they go public. Musinsa is one such candidate, with an estimated valuation of nearly 10 trillion won ($7.53 billion). The country’s largest fashion platform

Oct 20, 2026By Park Han-sol
Musinsa, Sono International face IPO uncertainty amid market volatility
Banking & Finance

Hanwha Life expands youth financial education program to Indonesia

Hanwha Life Insurance is expanding its financial education initiatives to Indonesia, aimed at helping teenagers build financial literacy in an increasingly digital landscape, the insurer said Tuesday. Developed with the international nonprofit Save the Children, the program is based in Indonesia’s Bandung, where young people face risks, including illegal lending and online scams and gambling, as digital financial services become more widespread. The project builds on Hanwha Life’s work in Vietnam last year, when it provided education to financially vulnerable groups, including women and young people. The Bandung program is designed to continue beyond its initial run by training local students and teachers to lead financial education. Ten high school students at each participating school are chosen to teach their peers, with support from university mentors at the Bandung Institute of Technology. Teachers are also receiving training to deliver lessons themselves. It has so far reached around 600 teenagers and 100 university students and teachers. In January, Hanwha Life plans to bring 2

Oct 20, 2026By Park Han-sol
Hanwha Life expands youth financial education program to Indonesia
Companies

Homeplus' recovery falters as sales slump, buyer search stalls

Homeplus, which narrowly avoided liquidation and resumed operations in August, is struggling to regain its footing as weak sales and stalled takeover efforts cloud its recovery, according to industry officials Monday. The uncertainty has also prompted a wave of voluntary resignations among employees. A major supermarket chain, Homeplus is currently undergoing court-led rehabilitation after struggling for years with the decline of the country’s hypermarket sector and consumers’ shift to online shopping. In July, the Seoul Bankruptcy Court briefly terminated the proceedings after the embattled retailer failed to secure the minimum 200 billion won ($150 million) in fresh funding needed to carry out its restructuring plan. Homeplus reversed that outcome only after obtaining emergency financing from Meritz Financial Group, its largest creditor, at the last minute. The retailer reopened all 67 of its remaining stores nationwide on Aug. 13, hoping to put its recovery back on track. Sales reached 10.63 billion won on the first day, followed by a daily average of 8.7 billion won over the nex

Oct 20, 2026By Park Han-sol
Homeplus' recovery falters as sales slump, buyer search stalls
Companies

6 bidders vie for control of JoongAng Ilbo as sale enters final round

The final round of bidding to acquire control of JoongAng Ilbo, one of Korea’s leading newspaper publishers, is officially down to six contenders, industry officials said Monday. The six bidders, all of whom participated in last month’s preliminary bidding, include confectionery maker Orion, Global Sae-A, Daou Kiwoom Group, OK Financial Group, Geumbo Development and eBroadcasting. Daou Kiwoom Group is participating as part of a consortium with CJ Group, which emerged as a surprise contender in reports on Friday. JoongAng Ilbo entered a creditor-led workout program in July after its parent, JoongAng Group, ran into a liquidity crisis. The program allows a company to negotiate debt restructuring with creditors while retaining greater control of its operations than it would under court-supervised rehabilitation. The buyer will gain control of the publisher by acquiring newly issued shares rather than buying out the existing controlling shareholder. This arrangement would channel the acquisition money directly into cash-strapped JoongAng Ilbo, giving it fresh capital to shore up its fin

Oct 19, 2026By Park Han-sol
6 bidders vie for control of JoongAng Ilbo as sale enters final round
Economy

BOK poised to hold rates as November hike remains in view

The Bank of Korea (BOK) is widely expected to keep its benchmark interest rate at 3 percent at Thursday’s policy meeting, while maintaining a hawkish stance that leaves the door open to further hikes in November, market analysts said Sunday. Expectations of a pause emerged after BOK Gov. Shin Hyun-song highlighted the burden that rapid rate increases have imposed on vulnerable borrowers. Holding rates steady at the upcoming Monetary Policy Board meeting would give policymakers time to gauge the impact of the recent hikes on inflation, foreign exchange markets and household debt. Still, strong exports and improving incomes continue to fuel price pressures, suggesting the bank will maintain a hawkish stance and signal that further increases remain possible. The BOK raised its benchmark rate from 2.5 percent to 2.75 percent in July, followed by another increase to 3 percent in August, describing the back-to-back moves as “a preemptive response” to mounting inflationary pressures. “This time, the BOK is likely to pause and assess the effects of its previous rate increases,” said Jo

Oct 19, 2026By Park Han-sol
BOK poised to hold rates as November hike remains in view
Economy

KOSPI rout deepens retail losses, fuels forced selling fears

Retail investors’ losses and unease are deepening as the KOSPI tumbled more than 7 percent Thursday, following a decline of over 5 percent just two days earlier. The slide, led by chip giants Samsung Electronics and SK hynix, has turned paper profits into losses. Many investors now feel they have missed their chance to sell and are struggling to decide whether to cut their losses or hold on in the hope of a rebound, as frustration mounts and confidence in Korean equities fades. "I don’t know where the market is headed anymore. I’ve stopped trying to lower my average purchase price by buying more shares," one investor wrote on an online stock forum. Those who bought stocks with borrowed money also face growing concerns about repaying their loans. Outstanding margin loans used to buy stocks topped 34 trillion won ($25 billion) for the first time in three months since July. The balance stood at 34.25 trillion won as of Tuesday, according to the Korea Financial Investment Association. Buying stocks with funds borrowed from brokerages can boost returns in a rising market, but it also exp

Oct 15, 2026By Park Han-sol
KOSPI rout deepens retail losses, fuels forced selling fears
Banking & Finance

Shinhan's Lotte Insurance deal faces profitability, capital hurdles

Shinhan Financial Group is seeking to bolster its nonbank operations by acquiring Lotte Insurance, but analysts cautioned Thursday that a meaningful contribution to group earnings may take time, as the insurer could require substantial additional capital to strengthen its financial position. Concerns over the cost of the deal weighed on Shinhan shares, which plunged 4.31 percent Wednesday following Tuesday’s announcement and fell a further 0.84 percent Thursday. The group agreed Tuesday to purchase a 77.04 percent stake in Lotte Insurance from private equity firm JKL Partners for 693.3 billion won ($514.6 million). After securing regulatory approval, it plans to acquire the remaining shares and eventually merge the insurer with its existing subsidiary, Shinhan EZ General Insurance. Lotte Insurance has 14 trillion won in assets and 3.34 million customers, giving Shinhan a substantially larger foothold in non-life insurance. The financial group aims to raise annual profit from the business to at least 120 billion won within three years. But market analysts warned that the insurer’s wea

Oct 15, 2026By Park Han-sol
Shinhan's Lotte Insurance deal faces profitability, capital hurdles
Banking & Finance

AI-driven cyberattacks hit 16 financial firms, expose 100,000 records

The number of financial firms affected by suspected artificial intelligence (AI) agent-driven cyberattacks has risen to 16, more than double the seven initially reported, financial regulators said Wednesday. About 100,000 records containing personal information, including resident registration numbers, were exposed. The tally could rise as companies continue checking their systems for signs of intrusion. Regulators also found security deficiencies at 130 of the 555 financial firms reviewed, including failures to apply the latest security patches. The Financial Services Commission (FSC) disclosed the findings at an emergency response meeting. It said the breaches, reported since the beginning of this month, have affected banks, savings banks, credit finance companies, electronic payment providers and cryptocurrency businesses. The affected firms include four banks — Shinhan, KB Kookmin, BNK Busan and Hana — and four savings banks — Yegaram, Welcome, DB and OK. Hyundai Capital and KDB Capital are among the affected credit finance companies. Others on the list include online investment

Oct 14, 2026By Park Han-sol
AI-driven cyberattacks hit 16 financial firms, expose 100,000 records
Economy

Korea bets on regional airports to spread tourism beyond capital area

Korea plans to invest 410 billion won ($306.4 million) next year to develop five major tourism regions centered on regional airports, seeking to draw more international tourists to venture beyond the Seoul metropolitan area. Finance Minister Lee Hyoung-il said Wednesday that the government aims to attract a combined 5 million international arrivals by 2029 to the five regions, selected last month around airports in Busan, Daegu, Cheongju in North Chungcheong Province, Yangyang in Gangwon Province and Muan in South Jeolla Province. The government hopes to turn these airports into gateways for travel beyond the capital and boost regional economies. Lee outlined the plan at a task force meeting on developing the service sector. Korea has welcomed a record 15.05 million international tourists as of Aug. 31 this year, according to the Ministry of Culture, Sports and Tourism. More are beginning to enter through regional gateways; arrivals via regional airports and seaports accounted for 27.8 percent of the total, marking the highest share. To build on that trend, the government will use 410 bi

Oct 14, 2026By Park Han-sol
Korea bets on regional airports to spread tourism beyond capital area
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