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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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South Korea

Government, Seoul clash over Taegeukgi

The artist’s drawing of a Taegeukgi that the Ministry of Patriots and Veterans Affairs wants to hoist at Gwanghwamun Plaza in central Seoul. / Courtesy of Ministry of Patriots and Veterans AffairsBy Jun Ji-hyeThe Ministry of Patriots and Veterans Affairs and the Seoul Metropolitan Government (SMG) are having a disagreement over flying a giant national flag at Gwanghwamun Plaza in central Seoul.The conflict emerged as the ministry wanted to fly the Taegeukgi measuring 12 meters by 8 meters on a 45-meter pole permanently affixed at the plaza to mark the 70th anniversary of Korea’s liberation from Japanese occupation this year, while the local government is refusing to do this.According to the ministry, Tuesday, the SMG told the ministry on Nov. 23 that the Taegeukgi can be flown only temporarily, saying that flying the national flag at the plaza all the time is an “old-fashioned idea.”The SMG has authority to permit the use of the plaza.“The city told us that it is proper to fly the Taegeukgi permanently only at government sites such as the government

Dec 15, 2015By Jun Ji-hye
Government, Seoul clash over Taegeukgi
South Korea

Gov't to trace draft-dodging senior officials, sons

By Jun Ji-hye The government will be empowered to check whether high-ranking public officials or their sons dodge the draft beginning next year.The Military Manpower Administration (MMA) said Tuesday it has revised the military service act so that it will be able to trace conscription records of the officials and their sons, based on the revised law approved by the National Assembly on Nov. 30.The revision is meaningful in that it established a legal basis to separately oversee military records of senior officials and their sons, some of whom often become targets of public criticism for their doubtful exemption from military service, MMA officials said.All physically able young men are subject to compulsory military service for about two years in South Korea, as the two Koreas remain technically at war.“The measure is to raise fairness and transparency over the course of senior officials and their sons’ fulfillment of their military duties,” said MMA vice spokesman Kim Yong-du.There have been frequent cases where high-ranking figures were exempted from military

Dec 15, 2015By Jun Ji-hye
South Korea

Army training goes high-tech

By Jun Ji-hyeThe Army has started test operations of a “smart recruit management system,” which utilizes the Internet of Things (IoT) technologies to comprehensively oversee the health conditions and training accomplishments of recruits.“We introduced the system in one regiment in an Army recruit training center for test operation,” the Army said in a release, Monday.The project to introduce the system was first launched on July 14, and development, testing and evaluations were completed earlier this month, the Army said.The application of the system is the first project from an agreement between the Ministry of National Defense and the Ministry of Science, ICT and Future Planning, signed in May to realize the so-called “Creative National Defense,” under which the government plans to employ advanced technology to enhance military capabilities.The smart management system operates by attaching devices to the wrists of recruits that automatically transmit information in real time such as location and training duration and progress to a personal digita

Dec 14, 2015By Jun Ji-hye
South Korea

N. Korea has history of diplomatic faux pas

By Jun Ji-hye Kim Jong-unNorth Korea’s abrupt cancellation of three scheduled concerts by a girl band from Pyongyang that was due to perform in Beijing has once again confirmed the diplomatic ineptitude, previously evident in other international incidents, of the repressive state’s young leader Kim Jong-un.The all-girl Moranbong Band came together in 2012 after aides of Kim Jong-un were directed to form the group. The women returned to the North’s capital a few hours before they were due to perform their first international concert on Saturday. No explanation was given for the group’s sudden departure.Cheong Seong-chang, a senior fellow at the Sejong Institute think tank, said, “The cancellation once again exposed Kim’s incompetence in diplomacy and lack of understanding of international society.”He cited the fact that this is not the first instance of Kim’s incompetence in international dealings.On May 20, the Kim Jung-un regime abruptly withdrew an earlier decision to permit U.N. Secretary-General Ban Ki-moon to visit the joint i

Dec 14, 2015By Jun Ji-hye
N. Korea has history of diplomatic faux pas
South Korea

Two Koreas remain apart on key issues

South and North Korean representatives shake hands at the start of inter-Korean talks in the border city of Gaeseong in the North, Friday. At left is South Korea's Vice Unification Minister Hwang Boo-gi, and at right is Jon Jong-su, vice director of the secretariat of the North's Committee for the Peaceful Reunification of Korea. / Joint Press CorpsBy Jun Ji-hye and Joint Press Corps South and North Korea appeared divided on key issues, during the first round of vice-ministerial talks Friday, such as the reunions of families torn apart by the 1950-53 Korean War and the resumption of the suspended joint tour program to Mount Geumgang.The dialogue opened amicably with a 30-minute session at 10:40 a.m. at the joint industrial complex in the North’s border city of Gaeseong, at which the two sides shared the need for mutual efforts in mending strained inter-Korean relations.But they made no more progress afterward, dragging their feet to return to the negotiating table in the afternoon. The delay raised speculation that they experienced difficulties in narrowing the differ

Dec 11, 2015By Jun Ji-hye
Two Koreas remain apart on key issues
South Korea

US to transfer 21 jet technologies to Korea

By Jun Ji-hyeThe U.S. government has approved the transfer of 21 jet technologies used in Lockheed Martin’s F-35 stealth fighter to Korea, setting the stage to kick-start the stalled KF-X project to develop locally produced fighter jets.The Defense Acquisition Program Administration (DAPA) said Wednesday that the U.S. agreed on transferring the 21 technologies in a “large frame” on Nov. 30 when a negotiating team was in Washington.A DAPA official said the two sides will continue to hold negotiations in the future to list in detail the technologies that Korea needs to receive, as hundreds of technical items are part of the 21.The 8.5 trillion won KF-X project aims to build fighter jets by 2025 to replace the Air Force’s aging fleet of F-4s and F-5s.“We anticipate the agreement with the U.S. will enable the KF-X project to begin within this year,” the official said on condition of anonymity.The official refused to elaborate on which technologies Korea will receive first.The U.S. government’s issuance of an export license regarding the 21 includ

Dec 9, 2015By Jun Ji-hye
US to transfer 21 jet technologies to Korea
South Korea

More women students want to enter military schools

By Jun Ji-hyeThe competition among women to become cadets at the Korea Military Academy (KMA) hit a record high ratio this year, according to the school, Wednesday.KMA said it has selected a total of 310 students, including 30 women, who will enter the academy next year. The overall competition rate was at 22:1 ― 19.1:1 among men applicants and 49.5:1 among women.The competition rate for women was the highest since the school began accepting women in 1998.Last year, the overall competition was 18.6:1, and competition for entrance among women stood at 40.4:1. Competition for admission to the ROK Naval Academy and the ROK Air Force Academy for women was the second highest of all time at 60:1 and 69.2:1, respectively.The schools attributed the high competition among women who want to become military officers to job stability amid the high youth unemployment rate.KMA said its successful applicants will enter the academy on Jan. 22 for four weeks of basic training. The official entrance ceremony will take place on Feb. 22.The Naval Academy announced a total of 170 students inclu

Dec 9, 2015By Jun Ji-hye
South Korea

Korea incapable of producing components for KF-X

By Jun Ji-hyeKorea has succeeded in localizing only 40 percent of components for airplanes, according to the state-run arms procurement agency, Tuesday.This analysis indicates that the country is overly dependent on imported aviation components, raising concerns that the nation may have difficulty in producing core components necessary for its KF-X fighter jet development program, which is in jeopardy due to uncertainties over technology transfers from the United States.The Defense Acquisition Program Administration (DAPA) said the localization rate for aviation components was only 39.6 percent, ranking last in the list of 10 other areas, including the components of chemical, biological and radiological (CBR) weapons.The figure was in stark contrast to a success rate of 94.1 percent for localizing components used in CBR weapons, 86.4 percent for electronic communications devices, 84.1 percent for firepower and 81.3 percent for guided weapons.DAPA released the data after analyzing projects for domestic development of core components, pushed from 2006 to last year.The data apparently a

Dec 8, 2015By Jun Ji-hye
South Korea

Washington asked to transfer F-35 technologies

By Jun Ji-hyeA South Korean team negotiating with Lockheed Martin has asked the U.S. State Department to lift its ban on the transfer of some of the 21 technologies related to Lockheed’s F-35 stealth fighter, officials said Monday.The negotiating team, including officials from the Ministry of National Defense, the Defense Acquisition Program Administration (DAPA) and the Ministry of Foreign Affairs returned home Saturday after week-long talks with Lockheed about the fighter technology transfer.During the visit, the team contacted the State Department separately to ask for the U.S. government’s issuance of an export license for all 21 technologies, officials said.An official told reporters on the condition of anonymity that the negotiation atmosphere was “not bad,” saying the State Department is trying to be as cooperative as it can be.But the official said that there were still many things to be ironed out.“The negotiations are not finished yet,” the official said, indicating that the decision about the transfer would be put off until next year.Ano

Dec 7, 2015By Jun Ji-hye
Washington asked to transfer F-35 technologies
  • 'Restart KF-X project from square one'
South Korea

'Restart KF-X project from square one'

An F-35 stealth fighter flies over the area of Luke Air Force Base in Arizona on Oct. 10, 2014. Korea signed a deal to purchase 40 F-35s in September last year but is now facing calls from some politicians and critics to cancel the deal due to uncertainties over the technology transfer from Washington that is causing a serious setback to Seoul’s own fighter jet development project. / Courtesy of Lockheed MartinBy Jun Ji-hye The government is facing growing calls to restart its problematic fighter jet development program from square one ― and cancel a deal with Lockheed Martin to purchase F-35 stealth fighters, if necessary.Some politicians and critics say it seems almost impossible for the nation to develop its own fighter jet by the designated year of 2025 due to growing uncertainties over technology transfers from Washington.“It is not an easy decision to cancel the F-35 deal, but the idea is well worth considering if it is hard for Korea to acquire the U.S. technology through the deal,” said Rep. Kim Kwang-jin of the main opposition New Politics Allianc

Dec 7, 2015By Jun Ji-hye
'Restart KF-X project from square one'
  • Washington asked to transfer F-35 technologies
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