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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

`Indonesia factor' bars KF-X tech transfer

By Jun Ji-hye The United States appears reluctant to share technologies for Korea’s indigenous fighter jet development project due to the “Indonesia factor,” analysts said Wednesday.Indonesia maintains close defense ties with Russia and its partnership with Korea is worrying the U.S. government, they said.Korea plans to develop its own jets in close cooperation with Indonesia, the No. 1 importer of Russian weapons. But Washington, mindful of Indonesia’s relations with Russia, is concerned about possible leakage of core technologies in high-tech fighter jets, they said. They also said Indonesia’s participation may become an obstacle to the 8.5 trillion won KF-X project, aimed at developing indigenous fighter jets by 2025 to replace the Air Force’s aging fleet of F-4s and F-5s.On Sunday, Korea Aerospace Industries (KAI), the project’s preferred bidder, signed tentative deals with the Indonesian government and state-run defense company PT Dirgantara Indonesia. Under the deals, Indonesia will pay 20 percent of the costs and participate in th

Nov 25, 2015By Jun Ji-hye
`Indonesia factor' bars KF-X tech transfer
South Korea

Support for border island residents remains less than promised

By Jun Ji-hyeComplaints from residents of frontline islands located in the West Sea that live in constant fear of North Korea’s provocations came to the fore Monday, the fifth’s anniversary of the North’s deadly shelling of Yeonpyeong Island in which two soldiers and two civilians were killed and 16 soldiers injured.After the tragic incident, the government vowed to increase support for residents and strengthen the military deployed on the islands.However, five years after the North’s bombardment, residents feel that support there is still insufficient. They said the government’s monthly support fund of 50,000 won per person is the only substantial support they have been able to feel.Ongjin County Governor Cho Yoon-kil told reporters, “It is regrettable that complaints among residents have increased because the government’s promise to provide support has fizzled out. The government needs to additionally inspect what residents really want and establish more practical support plans.”  In 2011, the government announced that it wo

Nov 23, 2015By Jun Ji-hye
South Korea

Tech transfer, budget still matter to KF-X

By Jun Ji-hyeKorea’s tentative deal with Indonesia to share the costs of the KF-X project, reached Sunday, bodes well for the nation’s indigenous fighter program.The signing is expected to ease concerns over the feasibility of the 8.5 trillion won project that were raised after Seoul failed to receive four core technologies related to the F-35 stealth fighter from Lockheed Martin in April.However, the transfer of the remaining 21 technologies from the U.S. defense giant and the budget issue still remain major obstacles to completing the project on time. The project is aimed at building new fighter aircraft by 2025 to replace the Air Force’s aging fleet of F-4s and F-5s.Whether or not Lockheed Martin will hand over all of the remaining technologies to Seoul is cited as the biggest matter now. Company officials visited the Defense Acquisition Program Administration (DAPA) last week to discuss and check on the progress of the U.S. government’s inspection of the transfer.The transfer of 25 technologies, including the four, was included in the offset deal in return

Nov 23, 2015By Jun Ji-hye
South Korea

Korea signs KF-X deal with Indonesia

By Jun Ji-hye Korea signed a tentative deal Sunday with Indonesia, under which the Southeast Asian country will pay 20 percent of the 8.5 trillion won cost for the KF-X project.The KF-X project is aimed at developing indigenous fighter jets by 2025 to replace the Air Force’s aging fleet of F-4s and F-5s.Korea Aerospace Industries (KAI), the nation’s sole aircraft maker, announced that it has signed two separate deals with the Indonesian government and its state-run defense company PT Dirgantara Indonesia (PTDI) in Seoul.Under the deal, Jakarta will invest some 1.7 trillion won in the project and would participate in the process of design and component production. It would also acquire one prototype and technology data afterward.The deal with the Indonesian government was about cost sharing, while the one with PTDI called for work sharing.   The government plans to spend 8.5 trillion won in the KF-X project and an additional 10 trillion won to produce 120 jets.KAI was selected as the preferred bidder for the project over Korean Air in March.In October last y

Nov 22, 2015By Jun Ji-hye
South Korea

'Two Kim' era disappears into history

Former Presidents Kim Young-sam, left, and Kim Dae-jung hold a meeting at a Seoul hotel in this July 1986 file photo. They were longtime colleagues and rivals in the pro-democracy movement and politics.  / YonhapBy Jun Ji-hye The death of former President Kim Young-sam, Sunday, brought an end to the “Two Kim” era that once dominated Korean politics, beginning in the 1970s.The term encapsulates the nation’s process of democratization and refers to Kim and Kim Dae-jung, who was president from 1998 until 2003 and died in 2009.Kim Young-sam’s presidency preceded his from 1993 to 1998.The two Kims were longtime colleagues during the fight against the military dictatorships of the 1970s and 1980s, but they later became rivals when they both made bids for the presidency.Kim Young-sam described the relationship between the two men as “the oldest rivals and allies” and “a special relationship that is unprecedented in the world.” He made the remark when visiting Kim Dae-jung in hospital just before his death in August 2009.The two first

Nov 22, 2015By Jun Ji-hye
'Two Kim' era disappears into history
  • Kim Young-sam passes away
South Korea

Will UN chief address NK human rights?

Ban’s trip to Pyongyang is being discussed, UN saysBy Jun Ji-hye Ban Ki-moonWhether U.N. Secretary-General Ban Ki-moon will mention North Korea’s deplorable human rights record is drawing keen attention in advance of him possibly meeting with leader Kim Jong-un.Stephane Dujarric, spokesman for the U.N. chief, said at a regular press briefing Wednesday that discussions to set up his visit to the repressive state are under way.“The secretary-general has always expressed his willingness to play a constructive role on the situation of the Korean Peninsula, including traveling there, and discussions are ongoing,” the spokesman said.If what would be Ban’s first visit to the isolated state is settled, he is highly likely to meet with North Korean leader Kim Jong-un. During the meeting, Ban is expected to mention a variety of pending issues including the North’s nuclear ambitions and human rights violations.The North’s human rights record has been described as abysmal and led to a recommendation that Pyongyang’s leaders be prosecuted by th

Nov 19, 2015By Jun Ji-hye
Will UN chief address NK human rights?
South Korea

Defense firms suffer hacking attacks

By Jun Ji-hyeSome of the 386 defense firms that participated in an international defense exhibition held at Seoul Airport last month were hacked, according to the Ministry of National Defense, Thursday.Ministry spokesman Kim Min-seok told a regular briefing, “The Defense Security Command (DSC) is carrying out an investigation into the suspected hacking.”The ministry said hackers sent emails containing malignant codes last week to a total of 386 domestic and foreign defense firms that took part in the event.Officials of some of the companies opened the email without due caution because the exhibition had only recently finished, only to find that their computers were then infected by malicious codes.The title of the email was “10 masterpiece weapons displayed at the Seoul air show,” and the sender was falsely stated as the headquarters of the Seoul International Aerospace and Defense Exhibition 2015 (Seoul ADEX).The sender’s address was “seouladex@daum.net.”The Seoul ADEX ran for six days from Oct. 20 at Seoul Airport in Seongnam, Gyeonggi Prov

Nov 19, 2015By Jun Ji-hye
South Korea

Lawmakers call for audit of KF-X

By Jun Ji-hyeLawmakers from the ruling and opposition parties have asked the state auditor to launch an inspection into the country’s troubled fighter jet development program.They claim the KF-X project, worth 8.5 trillion won, is in jeopardy because the Defense Acquisition Program Administration (DAPA) failed to acquire the necessary technologies.Rep. Chung Doo-un of the ruling Saenuri Party, who chairs the National Assembly Defense Committee, said Tuesday, “If there is nobody who will take responsibility for the project in crisis, an audit by the Board of Audit and Inspection (BAI) will be unavoidable.”The KF-X project, which calls for developing indigenous fighter jets by 2025 to replace the Air Force’s fleet of F-4s and F-5s, faced a big setback in April after the U.S. government refused to allow Lockheed Martin to transfer to Korea four core technologies related to the F-35 stealth fighter for security reasons.The four technologies, including the active electronically scanned array (AESA) radar, are considered critical in the development of the high-tech

Nov 18, 2015By Jun Ji-hye
South Korea

'Commercial technologies can improve combat capability'

By Jun Ji-hyeKorean defense firm LIG Nex1 unveiled a naval combat concept using commercial technology, Wednesday.During a seminar held at the Ministry of National Defense Convention in Seoul, the company said the new concept can considerably reduce the amount of money and time that are put into the development or upgrading of combat systems as it uses software already available in the market.The concept can help develop a system that automatically carries out the whole process of warfare from target detection to battle by integrating a variety of arms and other equipment in a naval vessel, the company said.An LIG Nex1 official said it is a worldwide trend to use technologies that are already on the market in the development of weapons. For example, CA Technologies’ CA UIM IT monitoring system could be used to monitor nodes that make up the combat system, the official explained.“In the past, the development of a combat system called for seeking new technologies from A to Z for only one project,” he said.The company said that its advanced concept calls for choosing su

Nov 18, 2015By Jun Ji-hye
South Korea

Lockheed staff will visit Seoul

By Jun Ji-hyeLockheed Martin officials will visit Korea this week to discuss the transfer of technologies related to the country’s KF-X project, the development of an indigenous fighter.“Lockheed Martin officials will visit the Defense Acquisition Program Administration (DAPA) this week,” said spokesman Col. Kim Si-cheol, Tuesday. “Working-level officials of the company and DAPA are checking on the progress of the U.S. government’s inspection into the transfer of 21 technologies to Korea.”Kim, however, showed a subtle change from his existing position that the transfer of the 21 technologies, stipulated in an offset deal, including a flight control system, was a done deal.He said it is a contractual obligation for Lockheed Martin to transfer technologies worth $1.41 billion, noting that although the company is changing the types to be handed over to Korea from the original list, it should be valued at the agreed amount.The remark was construed to mean the list of technologies to be transferred could be changed after the U.S. government inspection.T

Nov 17, 2015By Jun Ji-hye
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