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Jun Ji-hye

Korea Times Finance Reporter

Jun Ji-hye, a reporter at the finance desk of The Korea Times, focuses primarily on economic policy and government agencies, mainly covering the Ministry of Finance and Economy, the Ministry of Budget and Planning, the National Tax Service and the Korea Customs Service. She previously covered financial authorities, including the Financial Services Commission and the Financial Supervisory Service, and earlier worked on the political, city and business desks, reporting on a wide range of issues.

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Companies

Homeplus back in business, faces 3-week survival test

Homeplus, which had been on the brink of closure, is accelerating efforts to normalize operations after securing 200 billion won ($141 million) in emergency operating funds, company officials said Monday. Whether the large-scale retailer can restore customer trust and sales and prove its viability by the Sept. 4 deadline for approval of its rehabilitation plan will be a key test of its recovery, according to industry watchers. Homeplus resumed online orders at 2 p.m. Monday, following the reopening of 67 key stores nationwide on a trial basis last Friday. The retailer plans to resume full operations Thursday, along with marketing campaigns aimed at attracting customers. The reopening comes about a month after the 67 stores were temporarily closed starting July 13. Homeplus has been under court-led rehabilitation proceedings since March 4 last year. But the Seoul Bankruptcy Court ordered the proceedings terminated on July 3, saying the firm was unlikely to raise the necessary funds on its own after struggling to secure the 200 billion won in minimum operating funds required to implement i

1h agoBy Jun Ji-hye
Homeplus back in business, faces 3-week survival test
Banking & Finance

Hanwha, Heungkuk, Korea Investment bid for KDB Life in 7th sale attempt

Hanwha Life Insurance, Heungkuk Life Insurance and Korea Investment Holdings submitted final bids to acquire KDB Life Insurance, setting up a three-way race, investment banking industry sources said Friday. The sale of KDB Life, a subsidiary of state-run Korea Development Bank (KDB), has been ongoing since 2014, with six previous attempts to find a new owner falling through. Attention is now focused on whether the financially troubled insurer will finally find a new owner on the seventh attempt. KDB, along with Samil PwC, the lead manager of the sale, received bids from three potential buyers after closing the final round of bidding. Hanwha Life’s participation came as a surprise, as the insurer is already pursuing the acquisition of Acuon Capital and Acuon Savings Bank, a deal expected to require around 1 trillion won ($705 million). The firm's decision to join the race despite the anticipated financial burden suggests that it is willing to commit additional capital to expand its financial business, though the potential strain from a sizable capital injection could pose a challenge. Fo

Aug 7, 2026By Jun Ji-hye
Hanwha, Heungkuk, Korea Investment bid for KDB Life in 7th sale attempt
Banking & Finance

AIA Group ranks No. 1 in MDRT membership for 12th year

AIA Group has ranked No. 1 worldwide in the number of Million Dollar Round Table (MDRT) members for 12 consecutive years, AIA Korea said Friday. MDRT is a global association for leading insurance and financial services professionals, with membership limited to professionals who meet stringent production requirements and uphold high standards of expertise and ethics. AIA Group had 16,228 members qualify for MDRT membership this year, maintaining its position as the company with the world’s largest MDRT membership base. The latest figures also highlight the growing presence of high-performing insurance professionals at AIA Premier Partners, a subsidiary of AIA Korea that operates a network of face-to-face insurance agents. AIA Premier Partners had 302 agents qualify for MDRT membership this year, a 34.2 percent increase from a year earlier. The number of agents achieving even higher levels of performance grew at a faster pace. The number of Court of the Table (COT) members, whose production is at least three times the MDRT qualification threshold, rose 45.8 percent to 35, accounting for 11

Aug 7, 2026By Jun Ji-hye
AIA Group ranks No. 1 in MDRT membership for 12th year
Others

KOSPI tumbles 4.6% as chip stocks falter

The KOSPI plunged more than 4 percent Thursday, giving up gains from the previous two sessions as weakness in major semiconductor stocks weighed on the market. The tech-heavy Kosdaq swung between gains and losses before closing up 0.26 percent, extending its winning streak to five sessions. The KOSPI opened at 6,478.75, down by 119.51 points, or 1.81 percent, and extended its losses to close at 6,296.38, down 301.88 points, or 4.58 percent. Heavy selling pressure during the session prompted the Korea Exchange to suspend program selling orders for five minutes at around 10:18 a.m. under its sidecar mechanism. The benchmark index had climbed 3.76 percent the previous day for its second straight advance before reversing course Thursday. U.S. stocks provided mixed signals overnight. Nvidia, the leading AI chipmaker, gained 3.44 percent after SpaceX said it would use Nvidia chips exclusively for its data center infrastructure. AMD, on the other hand, dropped 7.04 percent after its outlook was viewed as weaker than expected. Alphabet also declined 4.06 percent after reports that Jeff Dean, a sen

Aug 6, 2026By Jun Ji-hye
KOSPI tumbles 4.6% as chip stocks falter
Others

Tax breaks fail to lure Korean investors back to local stocks

The government failed to lure Korean retail investors in U.S. stocks back to the local market even after introducing reshoring investment accounts (RIAs) in March, financial investment industry watchers said Thursday. They said growing volatility in the domestic stock market has left retail investors increasingly fatigued, while interest in U.S. stocks has picked up again. Tax benefits alone are unlikely to reverse retail investors’ preference for U.S. stocks, as they tend to prioritize returns over tax savings, they added. The RIA scheme was introduced to help stabilize the Korean won and shore up the local stock market. Under the program, investors can transfer overseas shares acquired by Dec. 23 last year to an RIA account at a Korean brokerage, sell them and invest the proceeds in local stocks or domestic equity funds for a year to qualify for a capital gains tax break. The tax deduction was set at 80 percent for overseas shares settled by the end of July and falls to 50 percent for sales settled from August through December. The full 100 percent deduction expired at the end of Ma

Aug 6, 2026By Jun Ji-hye
Tax breaks fail to lure Korean investors back to local stocks
Others

Semiconductor boom puts Korea on track for record high tax revenue

Korea’s tax revenue outlook is improving as a semiconductor-led economic recovery gains traction, offering relief to government finances after years of persistent shortfalls, government officials and analysts said Wednesday. Major tax revenues including income, corporate and securities transaction taxes have all surged from a year earlier on the back of stronger corporate earnings, rising wages and a pickup in stock trading. With Samsung Electronics and SK hynix set to make interim corporate tax payments this month based on their first-half earnings, total tax revenue could come in more than 50 trillion won above the government’s initial forecast, according to analysts. Data from the Ministry of Finance and Economy showed that the government collected 223 trillion won ($156 billion) in national tax revenue in the first half of 2026, up 17.4 percent from a year earlier. Income tax revenue rose by about 10.4 trillion won, while corporate tax receipts increased by 4.3 trillion won. Value-added tax revenue climbed 4.9 trillion won and securities transaction tax receipts rose 5.2 trillio

Aug 6, 2026By Jun Ji-hye
Semiconductor boom puts Korea on track for record high tax revenue
Policy

Stock price suppression rule faces backlash over narrow scope, weak tax impact

Criticism is mounting over the government’s tax reform plan aimed at preventing controlling shareholders from deliberately depressing share prices to reduce their tax burden when passing on their stakes to heirs, as lawmakers and experts voiced their concerns, Wednesday. Critics say the plan would do little to normalize the capital market or protect shareholder interests, while imposing only a limited tax burden on controlling shareholders. On Wednesday, the ruling Democratic Party of Korea (DPK) called for a full review of the government proposal and introduced a new bill to strengthen the measures. Rep. Lee So-young of the DPK, who pioneered the idea by introducing a bill to revise the Inheritance Tax and Gift Tax Act to curb share-price suppression in May last year, said on Facebook that the government’s proposal undermines the idea behind the bill. Under the current law, listed shares are valued using the average price for two months before and after the valuation date when they are inherited or gifted. Critics say this can encourage controlling shareholders to push down share pr

Aug 5, 2026By Jun Ji-hye
Stock price suppression rule faces backlash over narrow scope, weak tax impact
Policy

Up to 200 listed firms face new tax rule targeting stock price suppression

The government will introduce a new system aimed at curbing listed companies’ largest shareholders from keeping stock prices artificially low to reduce inheritance and gift tax bills, the Ministry of Finance and Economy said Tuesday. It estimates that as many as 200 listed companies could be subject to the rules, which take effect next April. The ministry plans to revise the Inheritance Tax and Gift Tax Act, requiring shareholders of companies deemed to have suppressed their stock prices to pay at least 30 percent more in inheritance and gift taxes when transferring shares to related parties. The measures were included in the ministry’s 2026 tax reform plans announced Monday. Under current inheritance and gift tax rules, the taxable market value of KOSPI- and Kosdaq-listed shares is calculated using the average closing price over the two months before and after the date of the transfer. Because lower share prices reduce tax burdens for major shareholders, critics have long blamed the rule for encouraging owners to keep stock prices low, contributing to the chronic undervaluation of K

Aug 4, 2026By Jun Ji-hye
Up to 200 listed firms face new tax rule targeting stock price suppression
Others

Real estate tax overhaul to have limited market impact: analysts

The government’s real estate tax overhaul is unlikely to have a significant impact on the housing market or construction stocks, as the measures are broadly in line with market expectations, according to analysts Tuesday. The changes could, however, prompt some multiple-home owners and holders of high-priced properties to put homes up for sale to reduce their tax burden, while expanded tax incentives for regional investment and second homes could provide some support for property markets and construction stocks outside the capital region. The assessments came a day after the Ministry of Finance and Economy announced its 2026 tax reform plans aimed at protecting single-home owners who actually live in their properties while raising the comprehensive real estate tax and capital gains tax burden on nonresident owners and high-priced homes. The government also plans to expand tax incentives for second homes in regional areas and corporate investment outside the capital region. Kiwoom Securities analyst Shin Dae-hyun said the tax changes are unlikely to meaningfully affect the market, as h

Aug 4, 2026By Jun Ji-hye
Real estate tax overhaul to have limited market impact: analysts
Policy

Gov't targets high-value, non-owner-occupied homes in tax overhaul

The government will significantly raise taxes on high-value homes not occupied by their owners by scaling back tax benefits for such properties, in what it calls a bid to promote greater fairness based on ownership and residency status, the finance ministry said Monday. The move is part of President Lee Jae Myung’s efforts to normalize the housing market, stabilize home prices and support "genuine" homebuyers. The government also plans to overhaul the tax system with a focus on fostering new growth engines, promoting balanced regional development and supporting low- and middle-income households. Those measures are part of the 2026 tax overhaul prepared by the Ministry of Finance and Economy. The key focus of the reform is to strengthen taxation on high-value and non-owner-occupied homes. The government plans to overhaul the capital gains tax and comprehensive real estate tax systems to ease the burden on genuine homebuyers while effectively increasing the tax burden on owners of homes they do not occupy and multiple-home owners. "We will overhaul property tax rules to establish a housin

Aug 3, 2026By Jun Ji-hye
Gov't targets high-value, non-owner-occupied homes in tax overhaul
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