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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

KF-X project will cost more than estimated

Gov’t  to set up task force soonBy Jun Ji-hyeThe government will likely have to spend more money than originally estimated on developing indigenous fighter jets by 2025 because developing core technologies jointly with foreign firms will incur additional costs, sources said Wednesday.According to the Defense Acquisition Program Administration (DAPA), the government plans to spend 8.5 trillion won on the KF-X project, and an additional 10 trillion won to produce 120 jets.However, the U.S. government refused to allow Lockheed Martin to transfer four core technologies related to its F-35 stealth fighters to Korea, which are crucial for the military here to develop its own jets.Accordingly, the agency is seeking to domestically develop these technologies, or sign partnership contracts with other foreign companies for the development.This will cause additional costs that may amount to tens of millions of dollars, the sources said.As President Park Geun-hye gave her support to the project ― about which questions of feasibility have been raised ― saying that it was the

Oct 28, 2015By Jun Ji-hye
South Korea

More female students to become military officers

By Jun Ji-hyeThe Ministry of National Defense plans to establish a college-based officer training program at one more women’s university that will open the doors for more female students to become military officers.The Reserve Officers’ Training Corps (ROTC) program is being operated at two women’s universities ― Sookmyung and Sungshin.The ministry said Wednesday that it will choose one more women’s university among five candidates ― Kwangju, Duksung, Seoul, Dongduk and Ewha.Under the ROTC program, cadets undergo physical and military training for four semesters, or two years, and serve for two years and six months after being commissioned.“The ministry will carry out document examinations, on-the-spot examinations and a final screening to choose one more women’s university by February next year,” said a ministry official.The official said the decision came as the existing ROTC programs at women’s universities are serving as good channels to nurture great female officers.The military first recruited female applicants for

Oct 28, 2015By Jun Ji-hye
South Korea

KF-X project gets boost from Park

Artist’s concept of Korea’s indigenous fight jetBy Jun Ji-hyePresident Park Geun-hye asked the Defense Acquisition Program Administration (DAPA), Tuesday, to make efforts to push forward the country’s KF-X project to develop indigenous fighter jets by 2025 as scheduled.The comments from the President came amid growing concerns that a delay in the project could be unavoidable because the National Assembly may cut the relevant budget following the U.S. refusal to allow Lockheed Martin to transfer core technologies related to its F-35 stealth fighters to Korea.She made the remarks when DAPA head Chang Myoung-jin visited Cheong Wa Dae to brief her about the procurement agency’s measures to handle the crisis facing the project.Chang was quoted as saying by lawmakers of the National Assembly Defense Committee, “After listening to my report, President Park asked me to do the best to push the KF-X as planned, because it is the nation’s most important project.”According to officials, Chang told Park about DAPA’s plans to push for domestic develo

Oct 27, 2015By Jun Ji-hye
South Korea

Taurus seeks to supply long-range missiles on Korea's FA-50

By Jun Ji-hyeTaurus Systems, a German-Swedish joint venture, is seeking to supply its long-range air-to-ground standoff cruise missiles for Korea’s indigenous FA-50 light attack fighters, the firm said Friday.Christoffer Drevstad, president of Taurus Systems Korea, said that the company has nearly completed the development of the Taurus KEPD 350K-2 with a range of 400 kilometers, and it would enhance the combat capability of the FA-50s.The Taurus KEPD 350K-2 is a shorter and lighter version of Taurus KEPD 350K with a range of 500 kilometers, which is scheduled to be deployed on the ROK Air Force’s F-15K fleet.“The Taurus KEPD 350K-2 is almost the same as the Taurus KEPD 350K. It has the same function, same components and same interface. The only thing we are changing is we are making the missile a little bit shorter,” Drevstad told The Korea Times during an interview on the sidelines of the Seoul International Aerospace and Defense Exhibition 2015 (Seoul ADEX 2015) at Seoul Airport in Seongnam, Gyeonggi Province.“In order to integrate the K2 on the FA-50

Oct 23, 2015By Jun Ji-hye
South Korea

Japan's military role discussed at trilateral meeting

By Jun Ji-hyeSouth Korea, the United States and Japan held working-level trilateral security talks in Tokyo, Thursday, to discuss the possibility of Japan conducting military operations in North Korea in the event of another war on the Korean Peninsula.According to the Ministry of National Defense, the talks will continue until today, and there will be further meetings in the coming months because there are many sensitive and complicated issues with which to deal.Ministry spokesman Kim Min-seok said Thursday, “Vice ministerial level officials from the three nations plan to discuss their mutual security concerns.”The ministry refused to elaborate further on the agenda. But sources here noted that the three nations discussed prospective scenarios in which Japan’s Self-Defense Forces (SDF) would be able to conduct military operations on the peninsula, and whether the SDF could enter the North without consent from South Korea.The scenarios include if Japan needs to carry out an evacuation operation to bring home Japanese personnel in a contingency situation on the penin

Oct 22, 2015By Jun Ji-hye
South Korea

'Japan military can't enter peninsula without consent'

Defense Minister Han Min-koo, right, shakes hands with his Japanese counterpart Gen Nakatani ahead of their talks at the Ministry of National Defense in Seoul, Tuesday. / YonhapBy Jun Ji-hyeDefense Minister Han Min-koo made it clear Tuesday that Japan must seek approval or consent from Seoul first for any military activities on or near South Korean territory.During a bilateral meeting with his Japanese counterpart Gen Nakatani at the Ministry of National Defense in Seoul, Han delivered Seoul’s concerns about Japan’s move to expand its military role.In response, Nakatani said Japan will seek approval from countries in accordance with international laws before sending its Self-Defense Forces (SDF) to their territories, according to a joint press release.Han also rejected Japan’s request to accelerate talks on signing bilateral pacts to share military information and boost defense exchanges, saying “The time is not yet ripe,” the ministry said.Nakatani’s visit came at a sensitive time amid growing concerns here over the possible entrance of the Japan&

Oct 20, 2015By Jun Ji-hye
South Korea

Patriot ministry to hold veterans' affairs forum

By Jun Ji-hyeThe Ministry of Patriots and Veterans Affairs said Tuesday that it will hold an international workshop to help participants compare their veterans’ welfare systems.The 2015 International Workshop on Patriots and Veterans Affairs will open Wednesday at the National Assembly Members’ Office Building and run until Thursday, the ministry said.Participants include officials in charge of veterans’ affairs from the United States, Canada, Australia, Germany and Korea as well as domestic experts on the matter.“Participants can compare and analyze the systems of veterans’ welfare of each country, and share their vision for future policies,” said the ministry in a release. “The in-depth discussion on the direction of the nation’s veterans’ affairs and diplomacy will take place as this year marks the 70th anniversary of Korea's liberation from Japanese colonial rule.”In its 11th year, the annual workshop will feature a lecture from retired Gen. John Tilelli, who served as commander of U.S. Forces Korea from 1996 to 1999, ab

Oct 20, 2015By Jun Ji-hye
South Korea

US Air Force presents F-22 Raptors

The 7th Air Force Commander Lt. Gen. Terrence O’Shaughnessy speaks during an interview with The Korea Times at the Osan Air Base in Gyeonggi Province, Thursday. / Korea Times photo by Choi Won-sukBy Jun Ji-hye The United States is excited about the this year’s air show and defense exhibition which starts here today because the U.S. Air Force is able to bring a lot more capability and platforms than it had been able to bring in past years, said the 7th Air Force Commander Lt. Gen. Terrence O’Shaughnessy.During an exclusive interview with The Korea Times that took place at the Osan Air Base Thursday, the commander said the South Korean people will have the whole spectrum of what platforms the U.S. Air Force has that will be operating in any kind of crisis or conflict on the Korean Peninsula.“We’re going to have not only F-16s and A-10s, which are stationed here, we’re going to have the U-2, which is also stationed here,” he said, referring to the Seoul International Aerospace and Defense Exhibition 2015 (Seoul ADEX 2015) that will be

Oct 19, 2015By Jun Ji-hye
US Air Force presents F-22 Raptors
South Korea

Concerns grow over possible vacuum in air power

By Jun Ji-hye Concerns are growing over a possible vacuum in the nation’s air power amid gloomy assessments about the feasibility of the Korean Fighter Experimental (KF-X) project to develop indigenous fighter jets by 2025.On Thursday, the U.S. government again refused to accept South Korea’s request for the transfer of key American technologies on F-35 stealth fighters, dealing a further blow to the nation’s 8.5 trillion won project, which calls for developing home -grown fighter jets to replace an aging fleet of F-4s and F-5s.The government is planning to produce 120 jets, which would require an additional 10 trillion won.But the outlook looks gloomy because the four core technologies that the U.S. refused to allow F-35 maker Lockheed Martin to hand over to Seoul are critical in high-tech fighter jets.The four are the active electronically scanned array (AESA) radar, infrared search and track (IRST), electronic optics targeting pod (EOTGP) and radio frequency (RF) jammer.Defense observers said that if the KF-X project was delayed or eventually failed, there w

Oct 18, 2015By Jun Ji-hye
Defense

Airbus to display A400M transport plane

A400M transport planeBy Jun Ji-hyeThe Airbus A400M military transport plane will be displayed at a defense exhibition in Korea next week.Visitors can see the cutting-edge aircraft during the Seoul International Aerospace and Defense Exhibition 2015 (Seoul ADEX 2015) that will run for six days from Oct. 20 at Seoul Airport in Seongnam, Gyeonggi Province.An official of Airbus Defense and Space said Friday that air forces of eight countries have placed orders for 174 A400Ms, and 14 of the aircraft are operating.The French Air Force received the Airbus military transport first in August 2013.“The A400M is famous for its performance, regardless of high and low altitude during its missions,” a company official said. The exhibition, which began in 1996, includes indoor exhibits, demonstration flights and an outdoor exhibition of aircraft and ground equipment.In June, Airbus beat its U.S. rival Boeing to win a 1.4 trillion won ($1.3 billion) deal to provide four in-flight refueling tankers by 2019 to the South Korea Air Force.

Oct 16, 2015By Jun Ji-hye
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