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Jun Ji-hye

Korea Times Finance Reporter

Jun Ji-hye, a reporter at the finance desk of The Korea Times, focuses primarily on economic policy and government agencies, mainly covering the Ministry of Finance and Economy, the Ministry of Budget and Planning, the National Tax Service and the Korea Customs Service. She previously covered financial authorities, including the Financial Services Commission and the Financial Supervisory Service, and earlier worked on the political, city and business desks, reporting on a wide range of issues.

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Finance minister resumes G20 trip after brief cancellation amid Cabinet reshuffle

Finance Minister Koo Yun-cheol, who was included in President Lee Jae Myung’s Cabinet shuffle on Sunday, departed for the United States to attend a meeting of Group of 20 finance ministers and central bank governors as originally planned after briefly canceling his trip, according to the ministry. “Koo departed as scheduled Sunday morning to attend the G20 gathering in Asheville, North Carolina, which runs Monday through Tuesday,” a ministry official said. Koo initially called off his U.S. trip after learning that he was set to be replaced in the Cabinet shuffle upon arriving at Incheon International Airport earlier in the day. Several hours later, the presidential office announced the Cabinet changes, with Lee nominating incumbent First Vice Minister Lee Hyoung-il as the new finance minister, among other appointments. Koo, however, reversed his decision and opted to make the trip as planned, given that he is expected to remain in office for about another month while his successor goes through a parliamentary confirmation hearing and formal appointment process. Another consideration

Aug 30, 2026By Jun Ji-hye
Finance minister resumes G20 trip after brief cancellation amid Cabinet reshuffle
Others

Youth backlash grows as gov't pushes ahead with crypto tax plan

The government’s plan to begin taxing digital assets in January is drawing mounting opposition from retail investors, opening a fresh political battlefront ahead of the 2028 general elections, as young voters protest what they see as unfair tax policy, according to market watchers on Thursday. The complaints come as a growing number of young people have already expressed frustration over a series of economic policies by the Lee Jae Myung administration targeting young people’s housing, savings and investments. The government and the ruling Democratic Party of Korea (DPK) say that crypto taxation will take effect on Jan. 1, when the current grace period expires. Under the framework, gains from trading or lending virtual assets exceeding 2.5 million won ($1,810) annually will face a 22 percent tax rate. “I understand the principle of taxing income where it is made,” said Choi, a 33-year-old office worker in Guri, Gyeonggi Province. “What is hard to accept is pushing this through when so many details remain unresolved, especially after the government scrapped the stock capital ga

Aug 28, 2026By Jun Ji-hye
Youth backlash grows as gov't pushes ahead with crypto tax plan
Law & Crime

Customs agency steps up controlled deliveries to nab drug smugglers

The Korea Customs Service (KCS) intercepted 5.6 kilograms of illicit drugs in 10 separate cases involving international mail from April to July through a newly established secondary screening network, the agency said Thursday. In particular, it used controlled deliveries, a covert investigative technique, to track the shipments, resulting in the arrest of all suspects involved. The new method involves a dual-layer drug screening system established in cooperation with Korea Post in April. Under the system, international mail that passes initial inspections at the border is subject to additional screening at one of five major postal distribution centers nationwide. Central to the agency’s success in arresting all suspects was the strategic use of controlled deliveries, under which law enforcement officers deliberately allow intercepted parcels to proceed to their destinations while remaining under tight surveillance. Because international mail allows authorities to maintain the normal delivery process without alerting traffickers, the tactic enables investigators to identify actual recip

Aug 27, 2026By Jun Ji-hye
Customs agency steps up controlled deliveries to nab drug smugglers
Others

Samsung, SK hynix shareholder returns seen driving further won strength

Samsung Electronics and SK hynix’s combined shareholder return plans worth more than 150 trillion won ($108 billion) could trigger additional dollar selling and put further downward pressure on the won-dollar exchange rate, according to market experts on Wednesday. NH Investment & Securities projected that the won could strengthen to the 1,340-1,350 per dollar range, citing the chipmakers’ large-scale shareholder return plans alongside broader weakness in the U.S. dollar. The won-dollar exchange rate recently fell to the high 1,300-won range for the first time in 11 months, reversing sharply from just two months earlier, when it surged to 1,560 won in June, nearing the 1,600-won level. On Wednesday, the won strengthened 1.3 won to close at 1,384.8 per dollar in onshore trading. SK hynix and Samsung Electronics have announced massive shareholder return programs worth 40 trillion won and 90 trillion to 110 trillion won, respectively, bringing the combined total to as much as 150 trillion won. Converting dollar holdings into won to fund dividends and share buybacks generally increases t

Aug 27, 2026By Jun Ji-hye
Samsung, SK hynix shareholder returns seen driving further won strength
Cryptocurrency

Global crypto rally sends trading volumes soaring at Korean exchanges

Trading volumes surged at Korean crypto exchanges in recent days after bitcoin and ethereum prices rebounded sharply, industry officials said Wednesday. The rebound is raising expectations that the recovery in crypto prices will translate into improved fee revenue for local exchanges, which have suffered weak earnings amid a prolonged trading slump. According to CoinMarketCap and other cryptocurrency data providers, daily trading volume on Upbit, the country’s largest crypto exchange, had hovered between 300 billion won ($217 million) and 600 billion won for a week before Aug. 20. It surpassed 1 trillion won on the afternoon of Aug. 20, when bitcoin approached $70,000, before reaching 4.61 trillion won as of 3 p.m. Saturday, nearly 10 times the level a week earlier. Trading volume has since moderated but remained at around 2 trillion won a day. Other won-denominated crypto exchanges also saw trading activity pick up over the weekend. Bithumb’s 24-hour trading volume exceeded 2 trillion won as of 3 p.m. Saturday, while Coinone, Korbit and GOPAX also recorded higher-than-usual trading v

Aug 26, 2026By Jun Ji-hye
Global crypto rally sends trading volumes soaring at Korean exchanges
Policy

AI, new growth engines, youth welfare, regions to receive big boost

The government plans to channel fiscal resources into artificial intelligence (AI), future industries, youth support and regional development by leveraging increased tax revenue from the semiconductor boom, government and ruling party officials said Tuesday. The plan comes as next year’s budget is expected to increase by more than 10 percent from this year’s 729.9 trillion won ($527 billion), surpassing 800 trillion won for the first time. Rather than spending the additional revenue on temporary programs, the government and the ruling party intend to reinvest it in future growth. “The Democratic Party of Korea (DPK) and the government have agreed on an active fiscal role to drive Korea’s structural transformation,” Rep. Kwon Chil-seung, the DPK’s policy chief, said following high-level budget consultations between the two sides. “We will boldly streamline nonessential expenditures to concentrate resources on strategic, high-growth areas.” According to Rep. Jung Tae-ho, the DPK’s representative on the National Assembly's Special Committee on Budget and Accounts, the gov

Aug 25, 2026By Jun Ji-hye
AI, new growth engines, youth welfare, regions to receive big boost
Policy

Korea set to draw up 'super budget' of over $578 bil. on chip boom

Next year’s budget is projected to top a record 800 trillion won ($578 billion), with national tax revenue expected to exceed 600 trillion won on the back of higher corporate tax receipts fueled by the semiconductor boom, government insiders said Tuesday. They said the Ministry of Planning and Budget is in the final stages of preparing the budget proposal. Last month, the ministry suggested a spending increase of 10 percent or more from this year’s 729.9 trillion won initial budget, signaling that next year’s budget could exceed 800 trillion won. This would mark the first double-digit increase in total expenditure since 2009, when spending rose 10.9 percent amid the global financial crisis. Total spending increased 8.1 percent this year from the previous year’s initial budget. The drivers behind the so-called “super budget” include improving revenue conditions, fueled by a semiconductor-driven surge in corporate tax payments and higher transaction tax revenues amid a bullish stock market. Budget Minister Park Hong-geun had earlier projected tax revenues to top 500 trillion won

Aug 25, 2026By Jun Ji-hye
Korea set to draw up 'super budget' of over $578 bil. on chip boom
Policy

Gov't set to revise property tax plan amid public backlash, ruling party pressure

The ruling party and government have agreed to ease the simultaneous increase in property holding and capital gains taxes for non-resident single-home owners, party officials said Monday. The agreement puts the government’s real estate tax reform package, unveiled on Aug. 3, back under review just three weeks after its announcement. “The government will broaden the circumstances under which periods of nonresidency can be recognized as residence when justified, while listening to public concerns and seeking a more reasonable solution,” Finance Minister Koo Yun-cheol said during his appearance before the National Assembly. The reconsideration comes amid growing resistance within the ruling party and mounting public complaints over housing policies, particularly in Seoul. With controversy over real estate policies emerging as one factor behind President Lee Jae Myung’s declining approval ratings, the presidential office has also signaled support for revisiting the plan. Specific revisions could be outlined as early as this week. Under the Aug. 3 proposal, the basic deduction for non

Aug 24, 2026By Jun Ji-hye
Gov't set to revise property tax plan amid public backlash, ruling party pressure
Others

KOSPI plunges more than 3% as Samsung, SK hynix shares tumble

The KOSPI fell more than 3 percent Monday as weakness in Samsung Electronics and SK hynix weighed on the broader market, reversing gains posted over the previous two sessions on expectations that the two semiconductor heavyweights would boost shareholder returns. The benchmark index opened 31.88 points, or 0.46 percent, lower at 6,881.07 before extending its losses to close at 6,696.96, down 215.99 points, or 3.12 percent. Foreign investors led the selling, offloading a net 3.69 trillion won ($2.67 billion) worth of KOSPI shares, while institutional investors sold 1.29 trillion won. Retail investors bucked the trend with net purchases of 3.32 trillion won, cushioning the market’s losses. Samsung Electronics and SK hynix shares dropped 8.70 percent and 3.41 percent, respectively, with the disparity in their losses largely attributed to differences in the shareholder return measures announced last week. Last Wednesday, SK hynix unveiled plans to repurchase 40 trillion won worth of its own shares and retire them in full, while pledging to return at least 50 percent of its free cash flow o

Aug 24, 2026By Jun Ji-hye
KOSPI plunges more than 3% as Samsung, SK hynix shares tumble
Policy

Gov't to channel semiconductor tax windfall into Future Fund

The government is set to establish the “Future Fund,” channeling additional and excess tax revenue generated by the semiconductor boom into long-term investments aimed at strengthening the economy, officials said Friday. The fund, estimated to reach at least 100 trillion won ($72.3 billion), will target four priority areas — supporting young people, developing new growth engines, promoting regional development and nurturing education and talent. The move will also overhaul the way the government allocates funding to education offices and local governments. Both local education grants and local government grants have traditionally been tied to national tax revenue. Under the new framework, however, money will first be set aside for the Future Fund, with both grants calculated under revised formulas. “The fund is intended to support strategic investments aimed at boosting Korea’s potential growth rate while helping stabilize public finances against fluctuations in tax revenue,” Budget Minister Park Hong-geun said during a press briefing attended by Education Minister Choi Kyo-

Aug 21, 2026By Jun Ji-hye
Gov't to channel semiconductor tax windfall into Future Fund
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