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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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Banking & Finance

KakaoBank renews UNICEF partnership to support youth facing climate crisis

KakaoBank has joined hands with UNICEF by signing a global partnership agreement to support future generations vulnerable to climate change, the company said Tuesday. The latest partnership marks a tripartite collaboration among UNICEF headquarters, the Korean Committee for UNICEF and KakaoBank. Under the agreement, a total of $2 million will be donated over a two-year period to support young people in countries including Indonesia, Thailand and Cambodia. Korea's largest internet-only bank will contribute $1 million annually to implement global social responsibility programs. The signing ceremony took place on Monday at the Korean Committee for UNICEF office in Seoul. KakaoBank CEO Yun Ho-young, also known as Daniel Yun, attended the event alongside Sawako Kanetaka, head of UNICEF’s Asia Pacific Hub and Cho Mi-jin, secretary-general of the Korean Committee for UNICEF. The funds will be used to support a range of climate resilience initiatives across the region. In Indonesia, schools will be upgraded with improved water and sanitation infrastructure. Cambodia will see the development of

Jul 29, 2025By Jun Ji-hye
KakaoBank renews UNICEF partnership to support youth facing climate crisis
Banking & Finance

Don't miss out: Spend your consumption vouchers and get extra 50,000 won

Credit card companies have launched a joint promotional event, offering customers a chance to receive up to 50,000 won ($36) if they fully spend their government-issued voucher-based cash handouts by Aug. 31, industry officials said Monday. Organized collectively by card issuers, the event will be funded entirely through their own budgets, with a total prize pool of 2.5 billion won. The Lee Jae Myung administration began distributing the cash handouts last week as part of a broad effort to boost domestic consumption and reinvigorate the sluggish economy. Under the program, a one-time payment of 150,000 won or more is being provided to all Korean citizens and eligible foreign residents living in the country as of June 18, with additional support to be offered selectively based on income levels. Industry officials noted that consumers who use the full amount of their consumption vouchers issued by credit card companies by Aug. 31 will be automatically entered into the event, with no separate application required. A total of 310,000 winners will be selected — 10,000 will receive a 50,000

Jul 28, 2025By Jun Ji-hye
Don't miss out: Spend your consumption vouchers and get extra 50,000 won
Banking & Finance

Redirecting money flow: Banks shift from real estate to innovation

Financial authorities and industry leaders vowed to shift the flow of funds away from real estate financing and channel it into more productive sectors, including high-tech industries and venture companies, officials said Monday. They made the pledge during a meeting led by Vice Chairman Kwon Dae-young of the Financial Services Commission (FSC), the country’s top financial regulator. The closed-door meeting brought together heads of major financial associations, such as the Korea Federation of Banks, the Korea Financial Investment Association, the Korea Life Insurance Association, the General Insurance Association of Korea and the Korea Federation of Savings Banks. The meeting focused on regulatory improvements and industry-specific initiatives to support a transition toward productive finance and was held in response to President Lee Jae Myung’s repeated calls for financial sector reform. Lee has criticized financial institutions for relying on “easy profits” from mortgage lending and underscored the importance of expanding investment. “There is a need to redirect capital from

Jul 28, 2025By Jun Ji-hye
Redirecting money flow: Banks shift from real estate to innovation
Banking & Finance

Hahn & Co.'s $1.4 mil. flood donation tops Lotte, GS, CJ

Hahn & Co., Korea's leading private equity firm, has donated 2 billion won ($1.4 million) to support residents affected by recent nationwide heavy rainfall, the company said Sunday. The donation was made to the Hope Bridge Korea Disaster Relief Association and will be used to provide emergency relief supplies to those impacted by the floods and to aid the swift recovery of affected areas. Thirteen portfolio companies, in which Hahn & Co. has invested, participated in the donation drive, including Namyang Dairy Products, Korean Air C&D Service, Lahan Hotel, Cynosure Lutronic, Solmics, Ssangyong C&E, H-Line Shipping, SK Enpulse, K Car, Coavis, SK Microworks, SK Specialty and SK Shipping. From July 16 to 20, heavy rainfall swept the country, resulting in 24 confirmed deaths and forcing more than 10,000 households to evacuate. This year, in addition to severe landslide damage caused by the rain, extreme heat waves and tropical nights have intensified, leading to a sharp rise in simultaneous damage from both flooding and heat-related issues. The private equity firm’s 2 billion won donation

Jul 27, 2025By Jun Ji-hye
Hahn & Co.'s $1.4 mil. flood donation tops Lotte, GS, CJ
Banking & Finance

Banks on edge as president warns against 'easy profits' from mortgages

Banks are on high alert following President Lee Jae Myung's warning against relying on "easy profits" from mortgages, referring to their interest margin-driven business models, industry officials said Sunday. The timing of the president's call for a shift toward more productive financing adds to the pressure, as the four major financial groups — KB, Shinhan, Hana and Woori — posted a record-breaking combined net profit of over 10 trillion won ($7.2 billion) for the first half of the year, largely fueled by interest income. As political criticism grows over the banks' profit structures, calls for reform are intensifying. However, shifting focus to small and medium-sized enterprises (SMEs) and self-employed loans, as urged by the president, presents a dilemma for banks. Expanding such loans too aggressively could weaken key financial soundness indicators, potentially undermining their shareholder return strategies. During a meeting with his senior presidential secretaries last Thursday, Lee sharply criticized domestic financial institutions for their heavy reliance on interest income w

Jul 27, 2025By Jun Ji-hye
Banks on edge as president warns against 'easy profits' from mortgages
Banking & Finance

Korean card firms scramble to maintain footing amid won-based stablecoin push

The credit card industry is forming a joint task force and taking other measures in response to a perceived threat to its position in the payments market amid growing discussions of the introduction of won-based stablecoins and related legislation, industry officials said Thursday. Stablecoins are digital currencies designed to maintain a stable value by being tied to central bank-issued currencies, such as the U.S. dollar, or to physical assets like gold. As the promotion of won-based stablecoins was one of President Lee Jae Myung's campaign pledges, a related subcommittee has been established within the presidential state affairs committee. The ruling Democratic Party of Korea is also set to announce a bill on the issuance and operation of won-based stablecoins. According to financial industry officials, the Credit Finance Association and eight major credit card companies plan to form a task force on stablecoins and hold its inaugural meeting next week. The task force is expected to explore how the card industry should navigate the potential legalization of stablecoins and what role co

Jul 24, 2025By Jun Ji-hye
Korean card firms scramble to maintain footing amid won-based stablecoin push
Banking & Finance

Localization no longer optional: Ex-reporter guides Korean firms in US property market

Sydney Chun, a former journalist who worked for SBS CNBC covering macroeconomics and Korea's chaebols, wanted to go beyond reporting to help shape the very deals she once covered. This led her to join Cushman & Wakefield Korea, the Korean branch of the global real estate services firm. Now, as a deputy general manager leading the firm's cross-border transaction management team, she helps domestic conglomerates turn strategic intent into global real estate execution, especially in the United States, where, she said, "localization is no longer optional." The team was established in September 2023 to support Korean companies expanding overseas. It provides end-to-end advisories on global site selection, regulatory strategy, incentive negotiations and financial analysis for acquisitions or leases across sectors including IT, biotech, finance and manufacturing. In a recent interview with The Korea Times, Chun said Korea Inc. is betting big on the U.S. market and pursuing local production. But she noted this is not just about avoiding the Donald Trump administration’s aggressive tariffs —

Jul 24, 2025By Jun Ji-hye
Localization no longer optional: Ex-reporter guides Korean firms in US property market
Society

Cash handouts more likely to benefit academies than local restaurants

Choi, the owner of a dessert cafe in Seoul's Nowon District, one of the country's most education-focused areas, said the government's ongoing distribution of voucher-based cash handouts provides more frustration than hope. Having run a business in an area dense with private academies, the 39-year-old said she can already tell the vouchers are unlikely to translate into meaningful revenue for small business owners like herself. "I remember seeing news reports during the COVID-19 pandemic about how the relief funds provided by the government at the time mostly flowed into the private education market. I'm worried this round of handouts will do the same," she said. According to Choi, students usually head straight to their parents' waiting cars after class, either to go home or be dropped off at another academy. She said fewer and fewer students stop by nearby stores or cafes for a snack or drink. In fact, multiple posts have already appeared in online communities where parents share information about child-rearing and education, noting that the cash handouts are expected to provide meaning

Jul 23, 2025By Jun Ji-hye
Cash handouts more likely to benefit academies than local restaurants
Policy

Government cracks down on resale of cash handouts amid misuse concerns

Shortly after the first-round applications for the government's voucher-based cash handouts began nationwide Monday, multiple cases of the benefits being resold and purchased at discounted prices on secondhand online marketplaces have been reported, government officials said Tuesday. This raises concerns that the original purpose of the program — to stimulate domestic consumption and revitalize local economies — may be significantly undermined, prompting officials and online resale platforms to tighten oversight. According to the Ministry of the Interior and Safety, individuals caught reselling the cash handouts, called "consumption coupons," for cash could face up to three years in prison. Under the government initiative unveiled on June 19, every Korean citizen living in the country as of June 18 is eligible for a one-time benefit of 150,000 won ($108). Additional financial support will be distributed selectively based on income brackets. Recipients can choose how to receive the payment, with options including credit or debit cards, prepaid cards or gift certificates issued by loca

Jul 22, 2025By Jun Ji-hye
Government cracks down on resale of cash handouts amid misuse concerns
Banking & Finance

Car insurers face growing losses after heavy rains

More than 3,000 vehicles were reported to have been damaged by flooding over a five-day period due to heavy downpours that swept across the country last week, resulting in losses estimated at nearly 30 billion won ($22 million), according to industry officials Tuesday. They said the number is expected to rise further, as the scale of vehicle flood damage is higher than expected, making it inevitable for non-life insurers to face an additional increase in their vehicle insurance loss ratios. Data from the General Insurance Association of Korea shows that a total of 3,131 flood-damaged vehicles had been reported to 12 non-life insurance companies offering motor vehicle coverage between July 16 and 9 a.m. on July 21, following the heavy rainfall. The estimated losses amounted to about 29.6 billion won. "The scale of the damage is significant due to the many days of intense, prolonged rain. Since claims are still being filed, the figures are likely to rise," an official from the insurance industry said. What makes the situation more concerning is that the typhoon season has not even begun, s

Jul 22, 2025By Jun Ji-hye
Car insurers face growing losses after heavy rains
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