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.
Residents wait at a bus station near Gwanghwamun Square in central Seoul, Tuesday, as heavy snow began to fall in the afternoon. Heavy snow alerts were issued for central regions of the Korean Peninsula including the capital, Incheon, Gyeonggi Province and South Chungcheong Province, with the Ministry of the Interior and Safety warning of ice forming on roads. / Yonhap
By Jun Ji-hyeKim Kyung-wook, former vice minister for transport, has been nominated as the ninth president and CEO of Incheon International Airport Corp. (IIAC) to fill the leadership vacuum following the dismissal of the previous CEO in September.Kim Kyung-wookThe airport operator said last week that the decision to nominate Kim for the top post of the state-run company was made during its shareholders' meeting, Jan. 7.His official appointment requires the recommendation of Minister of Land, Infrastructure and Transport Byeon Chang-heum and the approval of President Moon Jae-in. Industry officials expect these procedures to be completed by as early as the end of the month.A native of Chungju in North Chungcheong Province, Kim graduated from the department of economics at Seoul National University, and became a civil servant in 1989. He has since served in multiple key posts at the transport ministry, such as head of the planning and coordination department and the vice minister. Kim quit as the vice transport minister in 2019 to run in the 2020 general election under the ticket of t
gettyimagesbankBy Jun Ji-hyeA Korean lawyer has received a suspended jail term for falsifying information in refugee applications for 184 Chinese nationals, the Supreme Court said, Monday. The top court rejected the lawyer's appeal and upheld a lower court ruling that sentenced him to a one-year prison term, suspended for two years, for violating the Immigration Control Act.It also confirmed a 5 million won (4,600) fine imposed on a law firm for which the lawyer, identified only by his surname Kang, was working.According to the court verdict, Kang helped 184 Chinese people, who were seeking to continue working in Korea, apply for refugee status by forging relevant documents from October 2016 to December 2017, in return for 2 million won to 3 million won per case.A broker connected the lawyer with the applicants. In the applications, the lawyer fabricated various stories to support the refugee status applications, including assertions that the applicants would suffer oppression in China for being part of minor religious groups such as Falun Gong.The lawyer also employed an undocumente
Cho Doo-soon, one of Korea's most notorious child rapists, leaves a probation center in Ansan, Gyeonggi Province, Dec. 12, after being released from prison earlier in the day. / Korea Times photo by Wang Tae-seokBy Jun Ji-hyeCho Doo-soon, one of Korea's most notorious child rapists who was released from prison last month, has applied for the basic livelihood security program, claiming that he and his wife are suffering financial difficulties.The government of Ansan City, Gyeonggi Province, which is currently examining Cho's application, said Friday that the couple seems to satisfy the conditions qualifying them for the government allowance as Cho, who is over 65 years old, is categorized as an elderly citizen who is incapable of work. His wife is under 65, but has faced difficulties finding a job due to a chronic illness in addition to her “high-profile” husband, according to city officials. If the application is approved, Cho and his wife are expected to receive about 1.2 million won ($1,100) per month in welfare allowances.Cho was released from prison, Dec. 12, after se
Korean ambassador to Japan Nam Gwan-pyo is surrounded by journalists at the Ministry of Foreign Affairs in Tokyo, Friday. He was summoned by the ministry after a Korean court ordered Japan to compensate Korean women who were forced to work as sex slaves for Japanese troops during World War II. / YonhapBy Jun Ji-hyeA Korean court ruling Friday ordering Japan to pay damages to Korean victims of wartime sex slavery is expected to aggravate the already frayed relations between Seoul and Tokyo.The two have been at odds over history-related issues, and matters were exacerbated after Japan imposed export restrictions on materials needed by Korean firms. The move was an act of retaliation imposed after the Supreme Court here in 2018 ordered two Japanese companies to compensate surviving Korean victims of wartime forced labor.Japan immediately protested the latest court ruling, maintaining the position that all history-related issues were resolved under a 1965 treaty that normalized relations between the two countries.In its ruling, the Seoul Central District Court ordered the Japanese govern
An inmate at the Dongbu Detention Center in southeastern Seoul holds up a piece of paper, which reads “Incompetent justice ministry, incompetent president,” Wednesday, amid growing criticism against the government to its failure to prevent mass infections there. / YonhapBy Jun Ji-hyeFour inmates who were infected with COVID-19 at the Dongbu Detention Center in southeastern Seoul have filed a damage suit against the government, claiming that its bungled management of correctional facilities amid the prolonged pandemic has resulted in the mass infections there.In their lawsuit submitted to the Seoul Central District Court, the four demanded compensation of 10 million won ($9,200) each.The detention center has emerged as one of the biggest COVID-19 hot spots in Korea, having reported more than 1,100 infection cases ― including former and current inmates and correctional officers ― and two deaths, since the first virus case was confirmed there on Nov. 27.Kwak Joon-ho, the lawyer for the plaintiffs, said Thursday the Ministry of Justice had failed to quickly isolate those who
A coffee shop owner stands as part of a one-person relay protest arranged by an alliance of coffee shop owners from across the country in front of the National Assembly, Wednesday, to protest the government's social distancing measures, aimed at stemming COVID-19 infections, which have banned them from offering dine-in service. / YonhapBy Jun Ji-hyeAn increasing number of small business owners who run coffee shops, PC rooms, bars and gyms are taking group action, such as relay protests and a constitutional appeal, against the government's enhanced social distancing measures that have banned or restricted their operations.The complaints of shop owners, who have already had a tough year due to the prolonged COVID-19 pandemic, have grown especially after the government extended the Level 2.5 social distancing measures ― the second-highest in the five-tier system ― for the greater Seoul area and the Level 2 measures for other parts of the nation until Jan. 17, as infections show no sign of slowing down.The owners claimed that the continued restrictions have seriously threatened their sur
A KT AI hotel robot delivers towels to guests. KT and Josun Hotels & Resorts signed a MOU, Dec. 17, to use the robots in the latter's new premises. / Courtesy of KTBy Jun Ji-hyeAn increasing number of hotels here are utilizing robots and contactless technologies as part of their efforts to overcome an unprecedented crisis caused by the prolonged COVID-19 pandemic. Information and communication technology-based services help hotels improve convenience and collect necessary data and feedback to develop better methods to protect guests amid the global public health crisis. Josun Hotels & Resorts signed a memorandum of understanding (MOU) with mobile carrier KT last month in a bid to innovate its services by utilizing the power of robotics and artificial intelligence (AI).Under the MOU, the two companies are set to jointly study and develop AI-based services, and employ use of AI robots in Josun Hotels & Resorts, including Gravity Seoul Pangyo, Autograph Collection. The robots, equipped with the advanced Fourth Industrial Revolution technologies, would play a role as a digita
Country's population falls for 1st time in 2020By Jun Ji-hyeKorea's population is predicted to drop by half to less than 25 million by 2060 accompanied by a growing number of elderly people, resulting in decreases in the number of those able to fill jobs and serve in the military, according to a forecast by the Korea Economic Research Institute.This was backed up by the latest census figures released by the Ministry of Interior and Safety, Sunday, which showed that dramatic population changes have already begun as in 2020 the nation's population fell year-on-year for the first time, with deaths surpassing births. The ministry's data showed that Korea had a population of 51,829,023 as of Dec. 31, 2020, down 20,838 from a year earlier. This marked the first time that the country's population has fallen since 1962 when the country implemented its resident registration system. Ministry officials attributed the population decline to a record low number of births ― the country reported 275,815 births in 2020, down 10.7 percent from the previous year; while 307,764 people died, a 3.1 percen
Citizens wait in line to go through COVID-19 testing at a temporary testing facility in front of Seoul Station, Sunday. / YonhapBy Jun Ji-hyeThe government's adjustment of detailed antivirus guidelines is triggering a “fairness” issue, as the decision allows private education institutes and ski resorts to resume operation while continuing to suspend the operation of indoor sports facilities such as gyms.Operators of indoor sports facilities are reacting to the government's decision, claiming that the continued suspension of their operation is threatening their survival, and that private education institutes and ski resorts also present infection risks as some of those places have already seen outbreaks. On Saturday, the government announced a decision to extend the current Level 2.5 social distancing measures ― the second-highest in the five-tier scheme ― for the greater Seoul area by two weeks until Jan. 17, as there has been no particular sign of a slowdown in infections in the region. According to the Korea Disease Control and Prevention Agency (KDCA), the country adde