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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

US willing to talk to North about denuclearization

By Jun Ji-hyeThe United States is willing to discuss denuclearization with North Korea minus any preconditions, and it does not matter where and in what format such talks are held, said a chief U.S. envoy Saturday.During an interview with Yonhap News Agency on the occasion of the 10th anniversary of the “Sept. 19 Joint Statement,” Sung Kim, the U.S. special representative for North Korea policy, said whether the discussion takes place in Pyongyang, or some other place, is not important. He stressed that Pyongyang should come back to the negotiating table with a commitment to give up its nuclear program.“What’s important is for us to be able to sit down with them and hear directly from them that they are committed to denuclearization and that if and when the six-party talks resume, they will work with us in meaningful and credible negotiations towards verifiable denuclearization,” he said.“When we conveyed to Pyongyang that we are open to dialogue to discuss how we can resume credible and meaningful negotiations, of course we meant it. It was not an

Sep 20, 2015By Jun Ji-hye
South Korea

Main opposition breakup accelerates

NPAD defector Chun to launch new party in Jan.By Jun Ji-hye Rep. Chun Jung-baeOpposition-turned-independent lawmaker Chun Jung-bae announced a plan Sunday to launch a new political party in January and vowed to secure a victory in the April 2016 general election.Chun, a former member of the main opposition New Politics Alliance for Democracy (NPAD), said his new party, tentatively named “the Reformative People’s Party,” will completely realign the nation’s politics.“I will work together with anyone who shares the value of reform, regardless of their current commitment to the existing parties,” Chun told reporters Sunday at the National Assembly.The five-term lawmaker underlined that he will include the public in the preparatory process.The party aims for victories in the general election and the presidential election. Chun suggested a middle path as a policy direction of the new party.“The new party will exclude both extremes,” he said. “It will embrace moderate progressivism and rational conservatism, and seek harmony among

Sep 20, 2015By Jun Ji-hye
Main opposition breakup accelerates
South Korea

F-22 Raptor, Global Hawk will be exhibited in Korea next month

F-22 RaptorBy Jun Ji-hyeGlobal HawkThe United States will send two F-22 Raptor fighters and one Global Hawk unmanned aerial vehicle to Korea next month for the Seoul International Aerospace and Defense Exhibition 2015 (Seoul ADEX 2015), officials said Thursday.A manager of the exhibition said, asking not to be named, “Those attending will be able to see two Raptor fighters and one Global Hawk.”This is the first time such strategic U.S. aircraft will be displayed at the biennial exhibition, which shows rising U.S. interest in Korea purchasing advanced weapons. Only a mock-up of the Global Hawk was shown during the last event in 2013.The official added that Washington is finalizing the number of jets to fly in from the U.S.The Ministry of National Defense said the Seoul ADEX 2015 will take place for six days from Oct. 20 at Seoul Airport in Seongnam, Gyeonggi Province.The event, which began in 1996, includes indoor exhibits, demonstration flights and an outdoor exhibition of aircraft and ground equipment.  Deputy defense ministry spokesman Col. Na Seung-yong said, &ldq

Sep 17, 2015By Jun Ji-hye
F-22 Raptor, Global Hawk will be exhibited in Korea next month
South Korea

KAI will export T-50s to Thailand

By Jun Ji-hyeKorea Aerospace Industries (KAI) said Thursday that it has signed a $110 million deal to export four T-50TH supersonic trainer jets to Thailand.Under the deal, the Korean company will deliver the trainer jets within 30 months.The signing ceremony took place at the JW Marriott Hotel in Seoul.Thailand has selected the KAI T-50TH over the Chinese-made L15 to replace aging trainer aircraft for its Air Force, according to sources. “Thailand, which has chosen countries whose air weapon industries are advanced, selected an Asian country this time,” KAI said in a statement. “This contract will be an opportunity for KAI to establish a long term partnership with the Thai Air Force,” it added, indicating that the export of more jets could follow.Thailand has been operating L39 trainer jets made by the Czech Republic, and is replacing them as it has been more than 30 years since their production. At the end of last year, the Thai government approved a budget to purchase four new trainers.Competitors in a bidding battle included the United States, Russia and I

Sep 17, 2015By Jun Ji-hye
South Korea

Lawmaker in hot seat for improper remarks on Africa

By Jun Ji-hye Rep. Na Seong-linA ruling party lawmaker has been slammed by other politicians for a disparaging remark he made about Africa during a party meeting Tuesday.  While criticizing opposition lawmakers for behaving rudely during a National Assembly audit session, Rep. Na Seong-lin of the ruling Saenuri Party compared their behavior to his assumptions about what occurs in African nations.“Some opposition lawmakers repeatedly made insulting remarks against government officials without giving a chance to answer questions at an audit session. It was like an African country,” Na said.“It was hard for me to sit together with them because it was so embarrassing.”Na later apologized for the remarks, but critics say Na’s comment was highly improper as a senior lawmaker of the ruling party _ and was based on his bias against Africa and people there.Bae Jong-chan, the chief director at political pollster Research and Research, said Na’s remarks exposed his narrow viewpoint about other cultures.“It can cause negative assessment toward

Sep 16, 2015By Jun Ji-hye
Lawmaker in hot seat for improper remarks on Africa
South Korea

Ministry to recall 'faulty' grenades

By Jun Ji-hyeThe Ministry of National Defense said Wednesday that it will recall 55,000 grenades made on the same production line as two that accidentally exploded last week and in September of last year.“The ministry decided to recall all grenades that have the same lot number as the ones that exploded,” a ministry official said, asking not to be named.The lot number is an alphanumeric code that details the year of production and the place where the grenades were manufactured.An Army sergeant first-class died last week at an Army recruit training center in Daegu, while another sergeant first-class and a recruit were wounded.The ministry also confirmed that the lot number of the grenade in the Daegu explosion was the same as that of the grenade that accidently exploded a year ago during a Marine Corp training exercise.The ministry initially planned to carry out a non-destructive test of 2,020 samples of 55,000 grenades, but later decided to recall the entire batch amid mounting concerns over soldiers’ safety.Follow Jun Ji-hye on Twitter @TheKopJihye

Sep 16, 2015By Jun Ji-hye
South Korea

18 sons of ranking officials exempted from draft after giving up citizenship

By Jun Ji-hyeEighteen sons of high-ranking public officials were exempted from military service this year after giving up their Korean citizenship, an opposition lawmaker claimed Tuesday.Citing data from the Military Manpower Administration, Rep. Ahn Gyu-baek of the main opposition New Politics Alliance for Democracy said most of their fathers are senior government officials.Ahn unveiled the data during a National Assembly audit session, without releasing the names of their fathers.Among them, four were the sons of officials of the Ministry of Science, ICT and Future Planning, while two were the sons of officials working at the Ministry of Foreign Affairs.Especially, two sons of a science ministry official obtained Canadian citizenship. The remaining 16 all gained American citizenship.“Sons of high-ranking public officials who avoid their obligation to serve in the military deserve criticism by every means,” Ahn said. “Stern measures against them are necessary.”   Rep. Ahn, who belongs to the National Assembly Defense Committee, noted that the number

Sep 15, 2015By Jun Ji-hye
South Korea

Defense forum focuses on Northeast Asian stability

By Jun Ji-hye Vice Defense Minister Baek Seung-joo speaks during an interview with The Korea Times on the sidelines of the 4th Seoul Defense Dialogue in the Westin Chosun Hotel in central Seoul, Friday, the last day of the three-day multilateral security forum hosted by Korea./ Courtesy of Ministry of National DefenseVice Defense Minister Baek Seung-joo expressed the hope that the Seoul Defense Dialogue (SDD), a multilateral security forum hosted by South Korea, will contribute to stability, security and prosperity in Northeast Asia.During an interview with The Korea Times on the sidelines of the SDD, Friday, Baek said the forum would allow countries in the region to meet regularly and discuss national security policies.The three-day SDD is an annual security forum of vice-minister level defense officials and security experts from 30 countries and global bodies including the United Nations and the European Union.The fourth forum, with the theme “Seventy Years after World War II and the Division of Korea,” was wrapped up on the day.“During the dialogue, a number

Sep 11, 2015By Jun Ji-hye
Defense forum focuses on Northeast Asian stability
South Korea

One soldier dead in Daegu grenade explosion

By Jun Ji-hyeAn Army sergeant first-class died Friday after a grenade exploded during an exercise at a recruit training center of the 50th Infantry Division in Daegu.Another sergeant first-class and a recruit were wounded.According to the Army, the blast occurred at 11:13 a.m. when the 20-year-old recruit identified only by his surname Sohn held the grenade in his right hand during a throwing drill.The 27-year-old sergeant first-class indentified by his surname Kim, who was a drill instructor, was seriously hurt and rushed to a hospital where he died at 12:53 p.m.Sohn had his right hand amputated from the wrist.Another sergeant first-class surnamed Park, 27, was hit by debris but was in stable condition, the Army said.“The blast occurred when Sohn took the pin off the grenade and bent his arm back to throw it,” said an Army official on the condition of anonymity.More than 200 recruits were participating in the training, but there were no additional victims as they were about 30 meters away at the time of the blast.The division immediately suspended the training in the wak

Sep 11, 2015By Jun Ji-hye
South Korea

'Data on military communication system hacked'

By Jun Ji-hyeInformation about the military’s joint tactical communications system has been stolen by unidentified hackers, Rep. Song Young-keun of the ruling Saenuri Party said Thursday.Song said computer networks of local defense equipment manufacturers were hacked in May 2013, and the hacked information included the source code of the tactical network system involving the Navy’s elite Aegis destroyers, and the digital C4I (command, control, communications, computers and intelligence) system. The companies participated in the development of the systems.The Defense Security Command (DSC) submitted the date to the lawmaker ahead of a parliamentary audit session.Defense observers said that the source code of the tactical communications system being hacked is a very serious problem because the code is key information about how the system works. If this information is handed over to the enemy, they could plant a malignant code and interrupt the operations of the South Korean military, they said.The tactical communications system is designed to enable the Army, Navy

Sep 10, 2015By Jun Ji-hye
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