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Jun Ji-hye

Korea Times Finance Reporter

Hello, I am Jun Ji-hye, a reporter at The Korea Times. I primarily cover financial authorities and write articles on a wide range of topics related to finance and capital markets. If you have any information to share, feel free to email me at jjh@koreatimes.co.kr, and I will review it carefully. I am committed to always doing my best to communicate with readers through high-quality articles.

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Banking & Finance

Insurance industry pushes back against labor law overhaul

Opposition is emerging from both the insurance industry and insurance agents as the government moves to revise labor laws to incorporate special employment workers and freelancers into the formal employment framework, industry officials said Tuesday. Under the proposed system, around 650,000 insurance agents in Korea could be classified as statutory employees, making them subject to mandatory provisions of the Labor Standards Act, including severance pay. The resulting financial burden on insurers is expected to be several trillion won. Insurance agents, who have traditionally been treated as special employment workers — self-employed contractors — are also concerned that reclassification as employees could ultimately lead to a decline in their take-home earnings. The government and the ruling Democratic Party of Korea are advancing a legislative package that includes the “worker presumption rule” and a basic act governing working people’s rights. The related bills are expected to clear the legislative process around May 1, which is Labor Day. Among the proposed measures, the i

Mar 10, 2026By Jun Ji-hye
Insurance industry pushes back against labor law overhaul
Companies

INTERVIEW 'When the watched pick watchers': Korea Inc. still lags on board independence

Korean corporate governance has improved significantly over the past decade, but board independence remains a key structural weakness that continues to weigh on investor confidence, according to leaders at Egon Zehnder. In many conglomerate-affiliated companies, independent directors are still appointed with the influence of controlling shareholders, limiting the board’s ability to effectively challenge management, a factor that has contributed to the persistent “Korea discount," they said. Egon Zehnder is the world’s largest privately held executive search firm and the third-largest globally in executive search and leadership advisory. Its Seoul office has been operating for more than 25 years. “The most fundamental issue is board independence in practice, not just on paper. Independent directors exist, but in chaebol (conglomerate)-dominated companies, they have historically been appointed through controlling shareholder influence, which means the oversight function is often compromised,” Ashley Summerfield, Egon Zehnder's Global Board and CEO Practice Group leader, said in

Mar 10, 2026By Jun Ji-hye
[INTERVIEW] 'When the watched pick watchers': Korea Inc. still lags on board independence
Companies

Young Poong, MBK deny stance shift ahead of Korea Zinc shareholders’ meeting

Young Poong and MBK Partners, the largest shareholder alliance in Korea Zinc, rejected claims Sunday that they have changed their stance ahead of the zinc smelter’s upcoming shareholders’ meeting. The alliance said its stance has remained unchanged, pushing back against criticism from Korea Zinc Chairman Choi Yun-beom’s camp that it is trying to revive proposals it previously opposed and even challenged in courts. The alliance has been locked in a management control battle with Choi since launching a tender offer on Sept. 13, 2024. “The extraordinary shareholders’ meeting held in January 2025 was not conducted under normal circumstances, as Korea Zinc created an unlawful cross-shareholding structure shortly before the meeting, effectively stripping Young Poong, the largest shareholder, of its voting rights and disrupting the proceedings,” the alliance argued. It said courts later ruled that the restriction on voting rights was illegal and ordered the suspension of several resolutions adopted at the meeting. Both the district and appellate courts recognized the illegality of t

Mar 8, 2026By Jun Ji-hye
Young Poong, MBK deny stance shift ahead of Korea Zinc shareholders’ meeting
Others

Retail investors ramp up leveraged bets as Iran conflict destabilizes markets

Kim, a 38-year-old office worker in Seoul, recently withdrew an additional 30 million won ($20,000) from his bank overdraft account to buy domestic semiconductor stocks after their prices fell sharply during market turmoil triggered by the Iran crisis. “With market volatility rising, I saw sharp pullbacks as buying opportunities,” he said. “Deposit rates are not attractive enough, so I increased my investment exposure using leverage.” Lee, a 45-year-old self-employed resident of Gyeonggi Province, also moved more than half of his 100 million won in maturing time deposits into a brokerage account. “Even if deposit rates rise a bit, it is hard to grow assets meaningfully through savings alone,” Lee said. “When the stock market swings sharply, I believe there are opportunities to buy in installments, so I increased my investment funds.” Investor appetite for leveraged bets is rising as geopolitical tensions increase in the Middle East, helping to push Korean stocks into swings exceeding 10 percent and amplifying market volatility. As of last Thursday, the outstanding balance

Mar 8, 2026By Jun Ji-hye
Retail investors ramp up leveraged bets as Iran conflict destabilizes markets
Banking & Finance

Property ownership rule hampers insurers' push into senior care business

Insurers are weighing entry into the rapidly expanding senior care sector, including nursing homes and long-term care facilities, but regulatory requirements that mandate operators own the land and buildings used for such facilities are emerging as a major hurdle, industry officials said Thursday. According to the Ministry of Data and Statistics, the share of people aged 65 and older surpassed 20 percent of the population in 2025 and is projected to approach 30 percent by 2035. As Korea transitions deeper into a super-aged society, demand for long-term care services is expected to surge, prompting life insurers to explore the sector as a potential new growth engine. Despite the rising demand, only a handful of insurers affiliated with financial holding companies have entered the business so far. Most insurers remain cautious, largely because the regulatory framework creates high entry barriers by requiring heavy upfront investment in property ownership. Under the enforcement rules of the Welfare of Senior Citizens Act, businesses operating nursing facilities with 10 or more residents mu

Mar 6, 2026By Jun Ji-hye
Property ownership rule hampers insurers' push into senior care business
Cryptocurrency

Will gov't push ahead with crypto exchange ownership cap despite constitutional concerns?

Attention is focusing on the fate of the government’s plan to cap major shareholders’ stakes in virtual asset exchanges at 20 percent after the National Assembly’s research body warned that the measure may be unconstitutional, lawmakers and industry officials said Thursday. A policy consultation between the Financial Services Commission (FSC) and the ruling Democratic Party of Korea (DPK), originally scheduled for Thursday morning to finalize the proposed regulation, was postponed. Authorities said the delay was intended to allow financial authorities to prioritize market stabilization efforts as volatility in local equity and currency markets surged amid escalating tensions in the Middle East. The session had been expected to finalize a comprehensive bill that would impose a 20 percent ceiling on major shareholders of virtual asset exchanges and introduce a regulatory framework for stablecoins under the tentatively titled Digital Asset Basic Act. The FSC, the country’s top financial regulator, has maintained that exchange ownership should be capped at 15 to 20 percent, mirrorin

Mar 6, 2026By Jun Ji-hye
Will gov't push ahead with crypto exchange ownership cap despite constitutional concerns?
Others

Retail investors split as US-Iran war jolts Korean stock market

A recent post on Blind, an anonymous online community used by office workers, captured the mood among retail investors. “Investing is so simple. This month, I should sell all my semiconductor stocks and just buy defense and oil shares,” one user wrote. The writer claimed to have generated stronger-than-expected gains after shifting into defense contractors and refiners in the wake of the joint U.S.-Israeli strikes on Iran on Saturday. Similar comments followed, with some predicting that defense stocks would further surge amid geopolitical tensions sparked by U.S. President Donald Trump’s actions. In contrast, investors exposed to large-cap chipmakers expressed regret as share prices plunged. “As soon as I bought SK hynix, war broke out,” one user wrote. With the confrontation between Washington and Tehran unsettling Korea’s equity market, sector performance has diverged sharply, producing starkly different outcomes for individual investors. Data from the Korea Exchange showed that the KOSPI ended Tuesday at 5,791.91, down 452.22 points, or 7.24 percent, from the previous tradin

Mar 4, 2026By Jun Ji-hye
Retail investors split as US-Iran war jolts Korean stock market
Cryptocurrency

Won stablecoin push heightens turf war in payments industry

Players in the payments sector are facing intensifying competition to secure a dominant position in the evolving stablecoin market as the government and the ruling party accelerate efforts to institutionalize a won-denominated stablecoin, industry officials said Wednesday. Card issuers are pursuing a strategy of integrating stablecoins into their existing authorization and settlement networks, while payment gateway firms are seeking a larger role in the value chain by registering related trademarks and internalizing wallet infrastructure. The Financial Services Commission, the country’s top financial regulator, convened its public-private virtual asset committee on Wednesday to finalize discussions on stablecoin provisions under the proposed Digital Asset Basic Act. The ruling Democratic Party of Korea (DPK) aims to finalize a draft within the week. A separate stablecoin task force under the Credit Finance Association has circulated draft guidelines outlining how key compliance requirements, including anti-money laundering, know-your-customer procedures and fraud detection systems, co

Mar 4, 2026By Jun Ji-hye
Won stablecoin push heightens turf war in payments industry
Banking & Finance

Hana, Dunamu test blockchain FX remittance as alternative to global messaging system

Hana Financial Group has completed a proof-of-concept project for a blockchain-based cross-border remittance service in partnership with Dunamu, the operator of Korea’s largest cryptocurrency exchange, Upbit, the companies said Friday. The pilot replaced the conventional Society for Worldwide Interbank Financial Telecommunication (SWIFT) messaging network with Dunamu’s proprietary blockchain platform, the GIWA Chain, to test whether international transfers could be processed through the new system. According to Hana, the trial showed that blockchain can significantly reduce settlement times and transaction costs compared with the traditional SWIFT framework. The system also met key compliance requirements, including anti-money laundering and know-your-customer checks, as well as other internal control standards related to foreign exchange transactions. The initiative marks the first tangible outcome of the strategic alliance the two companies formed in December to jointly develop blockchain-based global financial services. Building on the results, Hana Financial Group plans to roll o

Feb 27, 2026By Jun Ji-hye
Hana, Dunamu test blockchain FX remittance as alternative to global messaging system
Others

Could KOSPI rally further on shareholder returns, property market curbs?

How much further the KOSPI can advance is drawing increasing attention, as expectations for stronger shareholder returns following the passage of the third revision to the Commercial Act and the government’s tighter property rules push idle liquidity into equities, securities industry officials said Friday. Driven by optimism over the amendment, Korea’s benchmark index repeatedly hit fresh record highs, surpassing the 6,000 mark for the first time on Wednesday. Gains extended into Thursday, with the index jumping 223.41 points, or 3.67 percent, to close at an all-time high of 6,307.27. It edged down on Friday to 6,244.13, falling 63.14 points, or 1 percent, from the previous session. The third amendment to the Commercial Act cleared a plenary vote at the National Assembly on Wednesday, spearheaded by the ruling Democratic Party of Korea. The law requires treasury shares purchased after it takes effect to be retired within one year, while shares already held must be canceled within 18 months to ease the compliance burden. Separately, President Lee Jae Myung has consistently underscor

Feb 27, 2026By Jun Ji-hye
Could KOSPI rally further on shareholder returns, property market curbs?
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