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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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Companies

MBK Partners threatens legal action against Korea Zinc management over 'false' EGM materials

Private equity firm MBK Partners has threatened legal action against Korea Zinc management over what it called “false and misleading” claims about companies in its investment portfolio, escalating the latest fight for control of the zinc smelter ahead of an extraordinary general meeting (EGM). Korea Zinc is due to hold the EGM on Sept. 9, with shareholders set to vote on five outside directors, including one audit committee member. The MBK Partners-Young Poong alliance, the smelter’s largest shareholder, is seeking to take control of the board in a contest with Chairman Choi Yun-beom. MBK objected to explanatory materials for the meeting posted on Korea Zinc’s website by Choi’s camp, accusing the company of selectively presenting and distorting facts about the performance of executives at its portfolio companies. The private equity firm demanded that the problematic materials be removed and that measures be taken to prevent similar claims from being made again. It warned that it could pursue criminal complaints and other legal action if its demands are not met. The disputed mat

Aug 20, 2026By Park Han-sol
MBK Partners threatens legal action against Korea Zinc management over 'false' EGM materials
Economy

Deposit insurance fee hikes face pushback from financial firms

Financial companies are pushing back against plans to raise deposit insurance fees, warning that a steep increase could put an excessive burden on the industry and ultimately be passed on to customers, industry officials said Thursday. The Korea Deposit Insurance Corporation (KDIC) is currently considering higher deposit insurance rates across financial sectors, which would mark the first increase since 2009. The move follows the government’s decision last September to double the deposit protection limit from 50 million won ($36,000) to 100 million won. The KDIC, which collects fees from financial companies to build a fund used to reimburse depositors when institutions fail, says the industry should shoulder more of the cost as the number of failed financial companies — including dozens of savings banks and MG Non-Life Insurance — has grown over the years. The scale of the proposed increase, however, has become a sticking point. A recent study commissioned by the KDIC estimated that the deposit insurance rate for banks should rise to 0.13 percent of eligible deposit balance from the

Aug 20, 2026By Park Han-sol
Deposit insurance fee hikes face pushback from financial firms
Economy

Young Koreans' 1st-home buying hits 5-year high as Seoul rents soar

First-time home purchases by people in their 20s and 30s hit a nearly five-year high in Seoul in July, as rising “jeonse” rental costs and relatively accessible mortgage financing encouraged more young renters to enter the housing market, government data showed Wednesday. According to the Supreme Court’s real estate registration data, 7,547 first-home purchases were recorded in the capital city last month, the highest monthly figure since November 2021. Buyers in their 20s accounted for 887 transactions, or 11.8 percent of the total, while those in their 30s accounted for 4,300, or 57 percent. The surge comes as jeonse costs continue to rise. Under the uniquely Korean rental system, tenants pay a large lump-sum deposit instead of monthly rent. The apartment jeonse price index in Seoul rose to 104.39 in June from 100 at the start of the year, according to the Korea Real Estate Board. The rising jeonse deposits can make buying comparatively attractive for young eligible renters, particularly when policy-backed loans lower their upfront financing barrier. Eunpyeong recorded the most pu

Aug 19, 2026By Park Han-sol
Young Koreans' 1st-home buying hits 5-year high as Seoul rents soar
Companies

Korea Zinc ownership battle underscores need for truly independent boards: governance expert

As a candidate backed by the MBK Partners-Young Poong alliance for an audit committee seat at Korea Zinc, Park Yoo-kyung finds herself at the center of one of the country’s most closely watched battles for corporate control. The zinc smelter is due to hold an extraordinary shareholders meeting on Sept. 9, where participants will vote on the election of an audit committee member as the alliance vies for control of the board with the company’s chairman, Choi Yun-beom. Young Poong and MBK Partners, the smelter’s largest shareholders, are backing Park, while Choi’s camp is fielding Baek In-kyoo, a former chairman of Deloitte Korea’s board. For Park, however, the significance of the September vote goes far beyond the bruising battle between the two sides. After spending nearly two decades at APG Asset Management as its Asia-Pacific head of responsible governance and investment, she sees Korea Zinc as a real-world test case for whether the country’s recent Commercial Act revision can translate into tangible changes in how corporate governance is practiced. “The idea that good gov

Aug 18, 2026By Park Han-sol
Korea Zinc ownership battle underscores need for truly independent boards: governance expert
Economy

Young workers hit hardest as AI automation slashes jobs in Korea

More than half of the jobs lost by young Koreans in July were concentrated in industries heavily exposed to artificial intelligence (AI). This marks a dramatic departure from previous years, when youth employment dips were primarily driven by slowdowns in traditional manufacturing and in-person services. The latest figures from the Ministry of Data and Statistics reveal that the number of employed individuals aged 15 to 29 fell by more than 191,000 compared to the same period last year. Notably, the information and communications sector, which encompasses computer programming, telecommunications and digital media publishing, bore the brunt of this decline, shedding 74,517 positions. This represents the sector's steepest single-month drop since comparable tracking began in 2014. Simultaneously, employment in professional, scientific and technical services — covering fields such as legal advice, accounting, corporate consulting, and taxation — contracted by another 23,640 jobs. Together, these two knowledge-intensive sectors accounted for 51.3 percent of the total youth employment lo

Aug 16, 2026By Park Han-sol
Young workers hit hardest as AI automation slashes jobs in Korea
Companies

Samsung, SK hynix could deliver record $212 bil. in shareholder returns: reports

With Samsung Electronics and SK hynix expected to unveil new shareholder return plans as early as this month, analysts estimate that the two chipmakers could together return as much as 300 trillion won ($212 billion) to investors. Record second-quarter earnings — 89.5 trillion won in operating profit at Samsung and 60.5 trillion won at SK hynix — have strengthened their ability to reward shareholders. The prospect of outsized payouts is also raising hopes that the two stocks, which together account for more than half of the benchmark KOSPI’s total market capitalization, could help rekindle the broader Korean market rally. Samsung has pledged to return half of its free cash flow under its 2024-26 shareholder return policy, while SK hynix similarly plans to allocate 50 percent of its free cash flow generated from 2025 through 2027 to shareholders. That could leave Samsung with as much as 200 trillion won and SK hynix with up to 100 trillion won to distribute, according to market estimates. Kim Dong-won, head of research at KB Securities, expects Samsung’s new program to be large eno

Aug 16, 2026By Park Han-sol
Samsung, SK hynix could deliver record $212 bil. in shareholder returns: reports
Banking & Finance

SC Bank Korea launches country's 1st deposit offering interest in airline miles

Standard Chartered (SC) Bank Korea has rolled out a deposit product that lets customers receive their after-tax interest in Korean Air miles, becoming the first commercial bank in Korea to offer such a product, the lender said Friday. The account is available for six or 12 months, with annual interest rates of 3.15 percent and 3.55 percent, respectively. An additional 0.1 percentage point is available to those who deposit at least 100 million won ($70,600) or hold the bank’s private banking customer status or higher. As part of a launch promotion, anyone who opens the account by Oct. 31 will receive up to 5,000 bonus miles, depending on the amount deposited. Ten first-time customers who also sign up for the bank’s investment product will be chosen to receive an additional 10,000 miles each. Three customers who deposit at least 100 million won will also be selected to receive round-trip Korean Air tickets, either Prestige class to Phuket or Economy class to Guam. The offering is part of a strategic partnership between SC Bank Korea and Korean Air to link financial services with travel

Aug 14, 2026By Park Han-sol
SC Bank Korea launches country's 1st deposit offering interest in airline miles
Banking & Finance

KB Financial Group faces new uncertainty over leadership succession after tax probe into banking unit

Just as KB Financial Group’s race to choose its next chairman enters a decisive stage, tax authorities have launched a unscheduled investigation into its flagship unit, KB Kookmin Bank — a move that could add an unexpected complication to the succession process, according to industry experts, Friday. The National Tax Service (NTS) dispatched around 30 officials from its high-profile investigation bureau 4 to the bank’s Seoul headquarters, Thursday, to secure accounting records after reportedly detecting possible signs of tax evasion. The investigation is expected to run through the end of the year. Known in corporate circles as the NTS’ “grim reaper,” bureau 4 is an elite unit that handles major investigations into large companies and high-income individuals suspected of serious tax offenses. Its probes are relatively rare and can result in hefty tax bills, penalties or criminal charges. The bank said it had “no comment” on the investigation, while the NTS reiterated that it does not comment on individual taxpayers or ongoing audits. The inquiry is the latest in a string

Aug 14, 2026By Park Han-sol
KB Financial Group faces new uncertainty over leadership succession after tax probe into banking unit
Policy

Gov't to expand housing finance support for young, 1st-time buyers while keeping debt curbs

The Financial Services Commission (FSC) will expand housing finance support for young people, newlyweds and first-time homebuyers while maintaining its overall household-debt controls, as part of the government's efforts to stabilize the housing market, the regulator said Thursday. FSC Chairman Lee Eog-weon announced a package of measures aimed at ensuring tighter lending rules do not unnecessarily restrict financing for genuine homebuyers or new housing construction. The commission will maintain existing loan-to-value and debt-service ratio rules, while allowing banks to continue providing loans linked to new housing supply and home purchases by young and first-time buyers without being excessively constrained by household lending quotas. A key part of the package is a three-pronged housing finance program for younger borrowers. The FSC plans to introduce a mortgage loan providing longer-term financing for young people preparing to purchase homes, alongside a new guarantee product for "jeonse" deposit refunds. The regulator will also expand the use of borrowers' expected future income w

Aug 13, 2026By Park Han-sol
Gov't to expand housing finance support for young, 1st-time buyers while keeping debt curbs
Economy

Curbs on loans drive borrowers to higher-cost savings banks

Tighter lending restrictions at commercial banks are pushing more borrowers toward savings banks where interest rates are significantly higher, as the government continues its drive to rein in household debt, according to industry officials Wednesday. Annual interest rates on mid-interest loans for borrowers with low to medium credit scores range from 9.7 percent to 16.2 percent, roughly two to three times the average for comparable commercial bank loans. In the first half of this year, savings banks issued over 491,000 such loans, up 14 percent from the second half of last year and the highest level on record, according to the Korea Federation of Savings Banks. At the current pace, the annual tally could reach 1 million for the first time. The shift comes as banks tighten access to household credit, traditionally the main source of financing for consumers. In July, KB Kookmin Bank halved the maximum mortgage available to individual borrowers nationwide to 300 million won ($212,000) from 600 million won. Other major lenders like Hana Bank have also restricted online lending channels for

Aug 12, 2026By Park Han-sol
Curbs on loans drive borrowers to higher-cost savings banks
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