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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

Gov't may loan W100 bil. for trans-Korea project

By Jun Ji-hyeThe government is considering providing a maximum of 100 billion won ($88 million) in low-interest loans to firms involved in a joint logistics project between the two Koreas and Russia, according to the Ministry of Unification, Thursday.The so-called Rajin-Khasan project is aimed at transporting bituminous coal produced in Western Siberia to South Korean firms through North Korea.An official from the ministry said on condition of anonymity, “The ministry is considering providing the loans to POSCO, Hyundai Merchant Marine and the Korea Railroad Corporation, which are planning to take part in the project.”The envisioned support is drawing attention about how it will affect inter-Korean relations.The Park Geun-hye government has said the Rajin-Khasan project is an integral part of its Eurasia initiative aimed at connecting roads and railways for the construction of a multi-purpose logistics networks among Eurasian nations.Embarked on in 2008, Pyongyang and Moscow have been refurbishing a railway between the Russian border town of Khasan and the North’s p

Nov 5, 2015By Jun Ji-hye
South Korea

Seoul, Tokyo, Beijing compete to sell arms overseas

South Korean defense firms run booths at Defense & Security 2015 in Bangkok, Thailand. The four-day exhibition will end Thursday. / Joint press corpsBy Joint press corps, Jun Ji-hyeSouth Korea, Japan and China are showcasing their latest arms and defense technologies in order to win contracts at a defense fair in Thailand, officials said Wednesday.It is the first time that the three countries have taken part in an international defense exhibition together ― it was Tokyo’s first-ever time to participate with a national pavilion following the country’s recent decision to expand its military role overseas.Defense & Security 2015 began on Monday in Bangkok for a four-day run with the participation of some 400 world defense and internal security companies from 50 countries, according to organizers of the exhibition.Korea’s pavilion at the biennial event featured the booths of the nation’s 22 defense firms including Daewoo Shipbuilding & Marine Engineering, and Korea Aerospace Industries (KAI).Daewoo displayed mockups of its frigate and submarine.Th

Nov 4, 2015By Jun Ji-hye
South Korea

Apache helicopters for ROK Army rolled out

AH-64E Apache GuardianBy Jun Ji-hyeAH-64E Apache Guardian advanced attack helicopters were unveiled in the United States, Monday, months before their delivery to the ROK Army, the Defense Acquisition Procurement Administration (DAPA) said Tuesday.DAPA said Boeing, the manufacturer of the helicopters, held a rollout ceremony in Mesa, Arizona, attended by some 50 officials from the nation’s arms procurement agency, Army and defense firms.A total of 36 Apache Guardians will be delivered to the ROK Army beginning in the middle of next year after first being delivered to the U.S. Army, DAPA said.  South Korea selected the AH-64E in April 2013 in a 1.8 trillion won ($1.6 billion) procurement deal.DAPA said the Guardian, the upgraded model of the AH-64D Longbow, is considered the best attack helicopter available with state-of-the-art fire control equipment, more powerful, fuel-efficient engines and improved systems for pilots’ situational awareness and strikes on smaller targets.“The Apache Guardian will significantly contribute to strengthening our military's combat

Nov 3, 2015By Jun Ji-hye
Apache helicopters for ROK Army rolled out
South Korea

ROK, US to to deter North Korea

U.S. Defense Secretary Ash Carter answers reporters’ questions during a joint news conference following talks with his South Korean counterpart Han Min-koo at the Ministry of National Defense in Seoul, Monday. / YonhapBy Jun Ji-hyeSouth Korea and the United States agreed Monday to enhance joint capabilities against North Korea’s nuclear threats and missiles.The allies adopted implementation guidance on the “4D Operational Concept,” which is designed to detect, disrupt, destroy and defend against Pyongyang’s missile threats, containing nuclear, chemical and biological warheads.They reached the agreement at a Security Consultative Meeting (SCM), their annual defense talks jointly headed by South Korean Defense Minister Han Min-koo and U.S. Defense Secretary Ash Carter.The two countries also decided to establish a defense cooperation group to strengthen coordination in ROK-U.S. defense technology and strategy.They also signed a condition-based transition of the South’s wartime operational control (OPCON) of its troops from the U.S. But they both noted

Nov 2, 2015By Jun Ji-hye
ROK, US to to deter North Korea
South Korea

'Don't worry about KF-X. It will succeed'

Chang Myoung-jin, head of the Defense Acquisition Program Administration (DAPA), holds an interview with The Korea Times at the DAPA headquarters in Seoul, Wednesday. / Korea Times photo by Shim Hyun-chulDAPA head says concerns are ‘overblown’By Jun Ji-hye Korean arms developers and researchers are capable of developing core technologies needed to produce indigenous fighter jets with help from foreign defense firms, according to the head of the nation’s arms procurement agency.“The KF-X is a national project that must be completed as scheduled by 2025,” said Chang Myoung-jin, head of the Defense Acquisition Program Administration (DAPA), during an exclusive interview with The Korea Times last week. “We already have most of the crucial technologies, accumulated during the course of developing other planes over past years.“We will receive help from foreign firms, if needed. Don’t worry about the project. We will succeed.”Chang dispelled concerns that Korea will not be able to meet the 2025 deadline to develop its own jets, rais

Nov 2, 2015By Jun Ji-hye
'Don't worry about KF-X. It will succeed'
North Korea

Direction of Korea-Japan military cooperation

Former Japanese defense minister and Professor of Takushoku University Satoshi MorimotoBy Satoshi MorimotoThe division of the Korean Peninsula is a negative legacy of World War II, and the unification of the two Koreas is the most important remaining agenda for promoting peace and stability not only in Northeast Asia but globally.However, North Korea is one of the most unpredictable states in the world and has periodically engaged in provocations of its neighbors, especially South Korea and Japan.The injuries of South Korean soldiers in landmine blasts inside the Demilitarized Zone in early August were a very regrettable incident.North Korea launched ballistic missiles toward or over Japan’s territory over three-yearly periods, in 2006, 2009, and 2012. There is speculation that it might engage in a similar provocation this year, three years on since the last such incident.The six-party talks have not worked yet due to the insistence by the North that it should join the talks with the status of a nuclear power and without any conditions attached. These pre-conditions a

Nov 1, 2015By Jun Ji-hye
Direction of Korea-Japan military cooperation
South Korea

Speculation over THAAD resurfaces ahead of Carter's visit

South Korean Defense Minister Han Min-koo, left, and U.S. Defense Secretary Ash CarterBy Jun Ji-hyeSpeculation over the United States’ possible deployment of its advanced missile defense system on the Korea Peninsula has resurfaced despite Seoul’s emphatic denials.A senior official in charge of air and missile defense at Lockheed Martin, a manufacturer of the system, claimed that the two countries have already been in “formal and informal discussions” on the issue.His remarks raised speculation that the possible deployment of the terminal high altitude area defense (THAAD) system on the peninsula might be a topic for the upcoming talks between of U.S. Defense Secretary Ash Carter and his South Korean counterpart, Han Min-koo, scheduled for Monday.Mike Trotsky, vice president of air and missile defense at the U.S. defense giant, said during a National Press Club news conference, Thursday, “The THAAD system is the subject of a policy discussion between the United States and the Republic of South Korea. Those policy discussions are ongoing now.”H

Oct 30, 2015By Jun Ji-hye
Speculation over THAAD resurfaces ahead of Carter's visit
South Korea

Sex slavery to be hot issue at Seoul-Tokyo summit

By Jun Ji-hyeThe issue of Korean comfort women forced to provide sex for Japanese soldiers before and during World War II is expected to be a hot issue during Monday’s Seoul-Tokyo summit.President Park Geun-hye said Friday that the Japanese government should suggest measures to resolve the sex slave issue which would be acceptable to the Korean people. She said the wounded hearts of the victims should be healed on the occasion of the summit.In response, however, Tokyo said the position of its government has not changed ― its existing stance is that the issue was settled in the 1965 Korea-Japan Normalization Treaty.The different positions of the two governments, which came just a few days ahead of the first bilateral summit between Park and Japanese Prime Minister Shinzo Abe, are tarnishing hopes to some extent that the latter will commit to resolving the issue.During a written interview with Japan’s Mainichi Shimbun and Asahi Shimbun, President Park said the two countries should use the summit as an opportunity to settle matters related to the sex slave issue as it r

Oct 30, 2015By Jun Ji-hye
South Korea

Gov't vows to wipe out defense corruption

Officials from the Prime Minister’s Office, the Ministry of National Defense and the Defense Acquisition Program Administration announce their joint measures to root out rampant corruption in the defense industry, at the Government Complex in Seoul, Thursday. / YonhapBy Jun Ji-hyeThe government plans to introduce a defense project supervisor next year as part of measures to root out diehard corruption in the defense industry.It will also toughen sanctions against defense contractors involved in corruption, banning them from participating in bidding for arms deals for up to two years.These were included in a set of measures jointly announced Thursday by the Prime Minister’s Office, the Ministry of National Defense and the Defense Acquisition Program Administration (DAPA) to ensure fair and transparent arms deals.A defense project supervisor would be a director-level post, directly under the DAPA head. A legal expert such as an incumbent prosecutor or an auditor from the Board of Audit and Inspection (BAI) is likely to be appointed to the post.“The supervisor will exa

Oct 29, 2015By Jun Ji-hye
South Korea

Korea, US defense chiefs to meet Monday

By Jun Ji-hyeSouth Korean Defense Minister Han Min-koo and U.S. Defense Secretary Ash Carter will meet in Seoul Monday to discuss nuclear and missile threats from North Korea, according to the Ministry of National Defense, Thursday.The two defense chiefs will lead the annual Security Consultative Meeting (SCM), in which defense and foreign affairs officials from the two countries will discuss ways to jointly cope with the North as well as follow-up measures for their decision last year to delay South Korea’s takeover of wartime operational control (OPCON) of its troops from the U.S.“The allies will discuss the North’s test-firing of a submarine-launched ballistic missile in May and its showcase of modified KN-08 missiles during a military parade in October to mark the 70th anniversary of the ruling Workers’ Party,” a ministry official told reporters on the condition of anonymity.During the parade, the repressive state displayed the KN-08 intercontinental ballistic missiles (ICBM) with round-shaped nose cones, presumed to be modified from the same kind of

Oct 29, 2015By Jun Ji-hye
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