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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

10-won coins disappearing amid inflation, digital payments

The issuance of 10-won ($0.01) coins fell to its lowest level on record last month, as inflation and the widespread use of noncash payment methods, such as credit cards, reduces the need for small-denomination coins, the Bank of Korea (BOK) said Tuesday. In May, the central bank issued 17 million won worth of 10-won coins — 1.7 million coins — marking the lowest monthly total since the bank began tracking the data in January 1992. Meanwhile, 32 million won worth of 10-won coins — 3.2 million coins — were removed from circulation during the same period, nearly double the amount newly issued, resulting in a net reduction of 1.5 million 10-won coins in the market. The monthly issuance of 10-won coins has declined steadily from 263 million won in August 2019 to 20 million won in November last year. The highest monthly issuance on record was 593 million won in August 2000. Other coins are also disappearing quickly. Last month, 50-won coins saw 232 million won of redemption (removed from circulation), 13 times higher than the 18 million won issued. Similarly, 100-won coins recorded a rede

Jun 17, 2025By Jun Ji-hye
10-won coins disappearing amid inflation, digital payments
Policy

Ruling party's push for fund-based retirement system meets industry backlash

The financial sector is pushing back against a proposal by the ruling party to reform retirement pensions by integrating the current individually managed system into a unified fund model operated by a special institution, similar to the National Pension Service (NPS), industry officials said Tuesday. Rep. Ahn Do-geol of the Democratic Party of Korea, who was involved in shaping President Lee Jae-myung's economic pledges during the campaign, raised the need to pool retirement pension reserves from various companies and manage them as a unified fund worth over 50 trillion won ($37 billion). The idea emerged as retirement pensions have been yielding low returns and are therefore seen as failing to fulfill their role in securing post-retirement income. The financial industry agrees that expert-led asset allocation is key to improving returns. However, it opposes shifting to a unified fund system, arguing that structural issues — such as the heavy concentration in principal-guaranteed products and individual-led management — must be addressed first. According to data from the Ministry of

Jun 17, 2025By Jun Ji-hye
Ruling party's push for fund-based retirement system meets industry backlash
Banking & Finance

Insurance sector expands voluntary retirement amid digital transformation, M&As

The scale of voluntary retirements in the insurance sector during the second half of this year is expected to exceed that of previous years amid ongoing digital transformation and a series of mergers and acquisitions (M&As), industry officials said Monday. As workforce restructuring is seen as inevitable during the integration process, companies are expected to focus more on encouraging voluntary departures rather than enforcing layoffs. Hanwha General Insurance is scheduled to complete its merger with Carrot General Insurance by September, and voluntary retirements may follow. Older employees at Hanwha are expected to be the primary targets, given Carrot's relatively younger workforce. According to industry watchers, around 20 percent of employees are typically affected by workforce reductions during mergers. With labor costs largely fixed, insurers view restructuring as inevitable in their efforts to improve efficiency. Similar voluntary retirement plans are expected to be considered at Tongyang Life Insurance and ABL Life Insurance, as Woori Financial Group is set to complete its acqu

Jun 16, 2025By Jun Ji-hye
Insurance sector expands voluntary retirement amid digital transformation, M&As
Others

Generational shift in labor market: Older adults catch up to youth in employment rate

The share of economically active Koreans aged 60 and older has climbed to match that of the country's youth, according to Statistics Korea data released Monday. While older adults are joining the job market due to insufficient finances for retirement, a growing number of young people are giving up on job hunting, pushing older workers to the forefront of the nation's labor force. The data showed that 49.4 percent of Koreans aged 60 and older were either employed or actively seeking jobs last month, meaning nearly half of older adults participate in the labor force. The rate rose by 0.8 percent from a year earlier, reaching its highest level since the government began tracking this data in June 1999. As the country's population ages, senior labor force participation has steadily risen since 2011. Over the past five years, the senior employment rate is up by 4.6 percentage points — nearly twice the 2.6 percent increase for all working-age people aged 15 and older in the same period. The employment rate of older Koreans is now nearly on par with that of young adults. Last month, employment

Jun 16, 2025By Jun Ji-hye
Generational shift in labor market: Older adults catch up to youth in employment rate
Banking & Finance

Korea's first dedicated pet insurer set to launch next month

MyBrown, Korea's first insurer dedicated solely to pet insurance, is set to launch next month after securing final approval from the Financial Services Commission (FSC), according to company and industry officials, Sunday. This marks the first full license granted under the small-amount, short-term insurance system introduced in 2021, signaling a potential turning point for the insurance industry. The system allows companies with at least 2 billion won ($1.5 million) in capital to offer specialized insurance products tailored to everyday needs. MyBrown received its business license from the country's top financial regulator last Wednesday, allowing it to operate as a small-amount, short-term insurer specializing in pet insurance. Founded in March last year, the company received preliminary approval in September and has since fulfilled all necessary requirements, including capital funding, staffing and system development, over the past nine months. MyBrown said its mission is to improve standards in veterinary care and reduce the financial burden on pet owners. It sets itself apart by ope

Jun 16, 2025By Jun Ji-hye
Korea's first dedicated pet insurer set to launch next month
Companies

Is anyone willing to acquire Homeplus as its value drops?

Attention is focused on who will become the new largest shareholder of Homeplus, as the retail store chain, which filed for corporate rehabilitation proceedings in March, is now looking for a buyer to acquire or merge with the company to avoid bankruptcy, according to industry officials Sunday. This is expected to offer a rare opportunity to acquire the retail giant — valued at 3.7 trillion won ($2.7 billion) in liquidation — at a relatively low price, as MBK Partners, the private equity firm and current largest shareholder, decided to forgo its entire investment of 2.5 trillion won. In 2015, MBK acquired a 100 percent stake in Homeplus from the British retailer Tesco for 7.2 trillion won. Excluding the 1.2 trillion won in existing debt that Homeplus had assumed, the actual acquisition price was 6 trillion won. However, a series of unfavorable factors, including a prolonged slump in the retail industry, prevented MBK from selling Homeplus for over a decade. As the retailer continued to struggle with financial difficulties and faced credit rating downgrades, it ultimately filed for c

Jun 15, 2025By Jun Ji-hye
Is anyone willing to acquire Homeplus as its value drops?
Companies

Homeplus plans M&A ahead of rehabilitation as liquidation value exceeds going-concern value

Homeplus' liquidation value exceeds its going-concern value by over 1.2 trillion won ($883 million), according to a financial investigation released Thursday by the court-appointed accounting firm. In response, the major supermarket chain decided to pursue mergers and acquisitions (M&A) ahead of approval of its rehabilitation plan. Homeplus filed for corporate rehabilitation with the Seoul Bankruptcy Court on March 4, citing a credit rating downgrade. Samil PwC, the country's largest accounting firm and the court-appointed investigation committee, conducted the review. Earlier in the day, the firm submitted its report to the court and held a briefing for creditors at Homeplus headquarters to present its findings and outline the next steps. The report cited three main factors leading to Homeplus' rehabilitation filing — rising fixed costs, the impact of the COVID-19 pandemic coupled with a shift to online retail, and liquidity risks stemming from a credit rating downgrade. Homeplus' assets were reported at 6.8 trillion won, with liabilities totaling 2.9 trillion won, indicating a signific

Jun 12, 2025By Jun Ji-hye
Homeplus plans M&A ahead of rehabilitation as liquidation value exceeds going-concern value
Banking & Finance

Kbank surpasses 14 mil. customers amid rapid growth

Kbank's total number of users has surpassed 14 million amid continued growth since beginning operations in April 2017, the bank said Thursday. The internet-only bank reported that it attracted about 4.5 million new customers over the past year and a half, up from 9.53 million at the end of 2023. In 2025 alone, more than 1.26 million users joined the bank in the first five months, with an average of over 250,000 new signups per month. This rapid expansion of its customer base has been accompanied by a significant increase in asset size. The bank’s total assets reached 30.39 trillion won ($22 billion) in the first quarter of 2025, marking a 42 percent rise from 21.42 trillion won at the end of 2023. Kbank has seen balanced growth across age groups, with its customer base expanding steadily among both younger and older generations. Since the end of 2023, the share of customers aged 20 and under grew from 22 percent to 24 percent, while those aged 50 and above rose from 22 percent to 28 percent. The proportion of users in their 30s and 40s remained steady at 24 percent each. The firm explai

Jun 12, 2025By Jun Ji-hye
Kbank surpasses 14 mil. customers amid rapid growth
Policy

Financial authorities accelerate AI use guidelines in line with Lee's initiative

Financial authorities are accelerating efforts to revise guidelines on the use of artificial intelligence (AI) in the financial sector, in line with the newly launched Lee Jae-myung administration's push to make AI-related legislation a core policy, officials said Thursday. Lee has pledged to invest 100 trillion won ($73 billion) in AI and to position Korea as one of the world's top three AI powerhouses. He has also established a senior presidential secretary for AI within the presidential office. To align with the new administration's AI policy direction, the Financial Services Commission (FSC) recently signed an additional contract worth 20 million won to broaden an ongoing research project aimed at revising AI use guidelines in the financial sector. Initially launched in March, the study was extended to incorporate recent shifts in AI-related policies and to deepen its scope and focus. The existing guidelines, introduced in December 2021, are nonbinding recommendations that urge financial institutions to uphold principles such as fairness and accountability when deploying AI. However,

Jun 12, 2025By Jun Ji-hye
Financial authorities accelerate AI use guidelines in line with Lee's initiative
Companies

BTS military discharge boosts HYBE stocks amid lingering chairman risk

Expectations are growing for a rebound in HYBE's stock price as all BTS members have completed, or are soon expected to complete, their mandatory military service, according to market analysts, Wednesday. However, concerns are also mounting that Bang Si-hyuk, founder and chairman of the K-pop powerhouse corporation, could have a negative impact on the stock, as he is under investigation by the Financial Supervisory Service (FSS) for alleged violations of the Capital Markets Act, they said. On Tuesday, when RM and V were discharged from the military, HYBE shares closed at 309,000 won ($226), up 2.32 percent from the previous trading day. This marked the highest closing price since April 2022. HYBE's stock had reached 301,000 won on June 23, 2023, before experiencing a series of fluctuations and eventually falling to 158,000 won by Sept. 23 last year. On Wednesday, when Jimin and Jungkook were discharged, HYBE shares closed slightly lower, down 2.83 percent from the previous day at 300,250 won. Jin and J-Hope completed their service in June and October of last year, respectively. With RM an

Jun 11, 2025By Jun Ji-hye
BTS military discharge boosts HYBE stocks amid lingering chairman risk
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