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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

Banks rush to offer services for active older adults as life expectancy rises

Major commercial banks are ramping up efforts to roll out products and services targeting active older adults who are either retired or nearing retirement, according to industry officials, Friday. These people are generally aged 50 and above who continue to engage in economic and social activities even after retirement. With rising life expectancy, there is growing anticipation that their participation in various economic and social activities will become even more pronounced in the years ahead. On Wednesday, Woori Bank introduced a new loan product aimed exclusively at customers aged 50 and older. This marks the first time the bank has developed a loan offering specifically for this age group. Eligible applicants include wage earners with an annual income of at least 12 million won ($8,600) and a minimum of six months of employment. Public pension recipients — such as those receiving the National Pension — who receive at least 6 million won per year also qualify. The maximum borrowing limit is set at 100 million won. “Given the ongoing financial needs that arise for various reasons

May 9, 2025By Jun Ji-hye
Banks rush to offer services for active older adults as life expectancy rises
Banking & Finance

Will Kyobo’s SBI takeover revive interest in struggling savings banks?

Kyobo Life Insurance’s acquisition of SBI Savings Bank — the largest player in Korea’s savings bank industry — has drawn interest in whether the deal could revitalize mergers and acquisitions (M&As) in the sector, which has been grappling with declining profitability and worsening asset quality, industry officials said Wednesday. There are currently 79 savings banks operating in Korea, but many are small in terms of loan volume and face rising delinquency rates, prompting ongoing calls for industry-wide restructuring. Insiders say it may take time for the M&A market in the savings bank sector to gain meaningful momentum, as the industry remains in a slump with few players willing to jump in. They noted that Kyobo Life’s acquisition of SBI is considered an exceptional case, largely due to the bank’s strong position in the industry and its long-standing business ties with the insurer. On Monday, Kyobo’s board of directors approved a plan to gradually acquire a 50 percent plus one share stake in SBI Savings Bank by October 2026. The shares will be purchased from SBI Holdings,

Apr 30, 2025By Jun Ji-hye
Will Kyobo’s SBI takeover revive interest in struggling savings banks?
Policy

Financial authorities scramble to calm fears over SKT hacking fallout

Financial authorities are moving swiftly to set up an emergency response unit following a hacking incident that exposed SK Telecom customers’ universal subscriber identity module (USIM) data, officials said Wednesday. The authorities said the unit is intended to strengthen security inspections amid growing public concerns that the leak could lead to secondary damage such as financial fraud. They added that no unusual signs — such as a spike in unauthorized authentication attempts — have been detected in the financial sector. Earlier in the day, Kwon Dae-young, secretary-general of the Financial Services Commission (FSC), presided over a coordination meeting with the Financial Supervisory Service (FSS) and other related associations to discuss response measures following the cyberattack against SK Telecom first identified on April 18. “If the SKT hacking incident escalates into a financial security issue, it could lead to significant harm and trigger widespread public concern,” Kwon said. “We must stay alert and collaborate closely to guarantee that the public can continue the

Apr 30, 2025By Jun Ji-hye
Financial authorities scramble to calm fears over SKT hacking fallout
Banking & Finance

Foreign residents’ debit card spending in Korea jumps 75% over past 5 years

The number of foreign residents in Korea using debit cards has grown significantly, with their total spending on these cards soaring by 75 percent over the past five years, according to KB Kookmin Card Tuesday. In its latest analysis, the card issuer also reported that the number of its foreign debit card users rose by 46 percent in 2024 compared to 2019. This sharp increase is attributed to the growing population of foreign workers and international students living in Korea. Notably, the share of debit card holders in their 20s has risen markedly over the past three years. In 2024, foreign residents made an average of 22.8 debit card transactions per month and spent an average of 516,000 won ($359), marking increases of 20 percent and 19 percent, respectively, compared to five years earlier. Among all foreign debit card holders, those in their 30s accounted for the largest share at 27 percent. However, over the past three years, there has been a noticeable increase in the proportion of people in their 20s, who made up 39 percent of new card issuances. In terms of nationality, Chinese nat

Apr 29, 2025By Jun Ji-hye
Foreign residents’ debit card spending in Korea jumps 75% over past 5 years
Banking & Finance

Hana seeks tailored financial education for vulnerable groups in North Chungcheong Province

Hana Financial Group signed a business agreement with the Financial Supervisory Service, the government of North Chungcheong Province and the province’s education office to strengthen tailored financial education programs for youth and financially vulnerable groups in the region, the company said Monday. At the signing ceremony, Hana Financial Group Chairman Ham Young-joo vowed to provide comprehensive and effective education, saying, "We aim to expand a range of tailored programs specifically designed for children and teenagers." Lee Bok-hyun, governor of the Financial Supervisory Service (FSS) who was also present at the event, stressed that finance is not just a tool for economic activities but plays a vital role in shaping both individuals’ daily lives and society. “I hope this agreement marks the beginning of establishing a financial education ecosystem in the North Chungcheong region, where access to financial education has been more limited compared to the capital area and its surroundings,” Lee said. Under the agreement, a new initiative called the “Children’s Financi

Apr 28, 2025By Jun Ji-hye
Hana seeks tailored financial education for vulnerable groups in North Chungcheong Province
Banking & Finance

Credit card firms exit ID verification services amid dominance of telecom-led authentication

An increasing number of credit card companies are terminating card-based identity verification services due to low utilization rates, industry officials said Friday. The decline in usage is largely attributed to the dominance of authentication methods led by the three major telecommunications companies in addition to the expansion of private certification systems, which have diminished the market share of card-based verification services. KB Kookmin Card said it will discontinue its card-based identity verification service starting June 30, while Lotte Card will do so on July 31. BC Card already ceased offering the service in October 2023. Identity verification services enable users to verify their identity using alternative authentication methods for activities such as online and mobile sign-ups, password recovery and financial transactions, without relying on their resident registration number. The card industry had anticipated that these services could generate new sources of revenue, given the limitations on growth in their core business, particularly due to reduced card merchant fee

Apr 25, 2025By Jun Ji-hye
Credit card firms exit ID verification services amid dominance of telecom-led authentication
Companies

Why brokerages lowered SK hynix’s target price despite earnings surprise

Securities firms are revising down their target prices for SK hynix despite the company's stronger-than-expected earnings in the first quarter, industry officials said Friday. Analysts attribute the downward revisions to heightened uncertainties surrounding the U.S. Donald Trump administration’s proposed "reciprocal" tariffs, warning that the world’s second-largest memory chipmaker could face a possible demand correction in the latter half of the year. According to financial data provider FnGuide, Mirae Asset Securities lowered its target price for SK hynix to 244,000 won ($170) from 277,000 won, while Shinyoung Securities slashed its target to 260,000 won from 280,000 won. BNK Securities and iM Securities cut their estimates to 250,000 won from 310,000 won, and to 200,000 won from 210,000 won, respectively. SK hynix posted first-quarter revenue of 17.6 trillion won, a 41.9 percent increase year-on-year. Operating profit came in at 7.4 trillion won, up 157.8 percent from the same period last year. The surprise earnings results exceeded market consensus by 2.3 percent and 12.8 percent

Apr 25, 2025By Jun Ji-hye
Why brokerages lowered SK hynix’s target price despite earnings surprise
Banking & Finance

MBK denies prior knowledge of Homeplus credit downgrade, involvement in bonds issuance

MBK Partners and Homeplus did not anticipate the retailer’s credit rating downgrade, nor did they prepare for any rehabilitation procedures in advance, they said Thursday. The two also said they were not involved in the controversial issuance, sale and resale of asset-backed short-term bonds (ABSTB) tied to Homeplus’ card receivables. The rebuttal came hours after Lee Bok-hyun, governor of the Financial Supervisory Service, the country’s financial watchdog, said during a media briefing that his agency had secured concrete evidence suggesting that MBK was aware of Homeplus’ credit rating downgrade in advance and had planned to file for corporate rehabilitation long before the actual filing on March 4. Earlier this week, the financial authorities notified the prosecution about alleged unfair trading by key executives at Homeplus and its largest shareholder, MBK, through a fast-track process for an expedited investigation. In a joint press release, the private equity firm and the supermarket chain stated that they had taken proactive steps and filed for rehabilitation procedures to

Apr 24, 2025By Jun Ji-hye
MBK denies prior knowledge of Homeplus credit downgrade, involvement in bonds issuance
Policy

Financial watchdog cites lack of evidence against ex-first lady in Sambu unfair trading case

Former President Yoon Suk Yeol’s wife, Kim Keon Hee, was excluded from referral to the prosecution over alleged stock manipulation involving Sambu Construction, as “no grounds for indictment have been found,” the head of the country’s financial watchdog said Thursday. Lee Bok-hyun, governor of the Financial Supervisory Service (FSS), noted that the case has now been handed over to “a third party” — the prosecution — to verify the appropriateness and fairness of his agency’s judgment, dismissing suspicions that his personal acquaintance with Kim played a role in the decision. "We have handed over all financial tracking data related to individuals suspected of involvement in the alleged stock manipulation of Sambu Construction to the prosecution," Lee said during a media briefing in Seoul. "At the level of the financial authorities, no evidence has been found so far to confirm unfair trading by the individuals in question that would warrant a formal complaint." "The individuals in question" referred to by the governor are understood to include Won Hee-ryong, former land

Apr 24, 2025By Jun Ji-hye
Financial watchdog cites lack of evidence against ex-first lady in Sambu unfair trading case
Cryptocurrency

Bithumb volunteers host memorable day for underprivileged youth

Employees at cryptocurrency exchange Bithumb delivered a special day to children in need at Songjukwon, a child care facility run by a social welfare corporation in Seoul, the company said Thursday. The volunteer work was part of the exchange’s social contribution project, which was launched last year to mark its 10th anniversary. The company established a 10 billion won ($7 million) fund for the project and has since engaged in a wide range of activities aimed at providing practical and sustainable support to underprivileged groups in the country. During the latest activity on Saturday, Bithumb employees engaged in a hands-on volunteer effort, using a food truck to prepare and distribute lunch boxes filled with cube steak, fried rice and other dishes. The staff handled every step of the process — from designing the menu to cooking and serving — creating a meaningful experience shared with approximately 40 children. Following the meal, a series of interactive programs were held for the children, including a hands-on “dalgona” making experience, where they melted sugar to create

Apr 24, 2025By Jun Ji-hye
Bithumb volunteers host memorable day for underprivileged youth
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