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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 expand services for foreign residents in Korea as their population grows

Banks are enhancing their services for foreign customers in response to the ongoing increase in the country’s foreign population, industry officials said Friday. Beyond merely supporting financial transactions for foreign workers, banks are expanding their offerings by introducing platforms to help foreign nationals better settle in Korea and launching services tailored to wealthy foreign individuals and corporations. JB Financial Group, which owns Kwangju Bank and Jeonbuk Bank, will become the first domestic financial company to launch a comprehensive financial and social integration platform for foreign nationals in April. Through this platform, tentatively named Bravo Korea, foreign customers will be able to access financial services such as deposit, installment savings and loan applications, as well as a wide range of essential everyday information, including visa-related services, Korean language education, house searches and job listings. To enhance these offerings, the group is collaborating with start-ups that specialize in services for foreign residents. Major commercial banks

Mar 28, 2025By Jun Ji-hye
Banks expand services for foreign residents in Korea as their population grows
Banking & Finance

JB chairman to lead group for 3 more years, launch 'Season II' of dynamic financial group

JB Financial Group confirmed the reappointment of Chairman Kim Ki-hong at its annual shareholders’ meeting held at its headquarters in Jeonju, North Jeolla Province, Thursday. Kim first took the helm of JB Financial in March 2019 and was reappointed in 2022, leading the group for the past six years. With this latest reappointment, he will serve as chairman for an additional three years, marking his third consecutive term. Over the past six years, Kim has pursued a vision of building a “small but strong financial group,” focusing on profit-driven qualitative growth. This approach has enabled JB Financial to achieve record-breaking performance year after year. In his inaugural address, Kim reaffirmed his commitment to continuing this vision, vowing to further strengthen the group’s competitive and sustainable profit base while also focusing on identifying new core businesses. Kim introduced his “Season II Strategy” to drive the discovery of new core businesses, highlighting three key focus areas. First, the group plans to strengthen strategic alliances with fintech and platform

Mar 27, 2025By Jun Ji-hye
JB chairman to lead group for 3 more years, launch 'Season II' of dynamic financial group
Banking & Finance

Banking services to expand via 3rd parties to better serve depopulated areas

The government is pushing to amend the Banking Act within the year to introduce a banking agency system aimed at improving accessibility to financial services for digitally marginalized customers, including older adults, the Financial Services Commission (FSC) announced Thursday. The banking agency system allows third parties to perform core banking services such as deposits, savings, loans and transfers on behalf of banks. The move comes as the number of physical bank branches continues to decline amid the accelerating digital transformation of the financial industry. The total number of bank branches nationwide dropped from 7,623 in 2011 to 5,794 in 2023. The country’s top financial regulator noted that the decline in physical bank branches is a global trend, driven by the rise of non-face-to-face transactions in the digital era. However, this shift raises concerns about limited financial accessibility, particularly for older adults and other digitally marginalized customers. According to the FSC's announcement of measures to promote the delegation of banking services, the system wil

Mar 27, 2025By Jun Ji-hye
Banking services to expand via 3rd parties to better serve depopulated areas
Banking & Finance

Financial regulator to push for PEF reform after MBK controversy

The country’s top financial regulator will review the need for private equity fund (PEF) reforms amid the ongoing controversy over MBK Partners, which has been criticized for irresponsibly placing Homeplus into corporate rehabilitation a decade after acquiring the retailer through a leveraged buyout, Financial Services Commission (FSC) Chairman Kim Byoung-hwan said Wednesday. Kim revealed that the FSC had officially commissioned the Korea Institute of Finance to conduct a study to analyze the influence of financial capital on the control of industrial capital. “The MBK case has sparked discussions about the issues surrounding PEFs,” Kim said during a press conference. “As it has been about 20 years since PEFs were introduced in the country, we will take a closer look at both their achievements and shortcomings, assessing their positive effects as well as the problems currently being raised.” He added, “We also plan to examine how PEF regulations have evolved in different countries over the years and compare them with our own regulatory framework to identify any gaps or areas

Mar 26, 2025By Jun Ji-hye
Financial regulator to push for PEF reform after MBK controversy
Banking & Finance

Woori Bank to help foreigners find jobs in Korea

Woori Bank has signed a business agreement with JobKorea, the country’s leading job search platform, to provide a job matching service and enhance employment support for foreign residents in Korea, the bank said Wednesday. Starting in the first half of this year, foreign nationals seeking jobs in Korea will be able to easily access job listings and recruitment information provided by JobKorea through the bank’s foreigner-exclusive platform, Woori WON Global. The customized mobile banking service enables foreign customers to conveniently access financial services such as account inquiries, transfers and international remittances in 17 languages, as well as essential daily life services, including departure maturity insurance services. “We hope this new service will assist our foreign customers in overcoming language barriers and limited access to job information,” a Woori Bank official said. “As the number of foreign residents in Korea has exceeded 2.65 million and continues to rise, we are committed to offering not just financial services but also a range of tailored services

Mar 26, 2025By Jun Ji-hye
Woori Bank to help foreigners find jobs in Korea
Sports

Next-generation short-distance track star signs sponsorship deal with KB Financial

Joel Jin Nwamadi, recognized as Korea’s next-generation runner in short-distance track and field, has signed a sponsorship deal with KB Financial Group. Nwamadi, born to a Korean mother and a Nigerian father, started his athletic career in track and field in fifth grade in elementary school. Despite facing a three-year hiatus due to growth pains in his heels, he overcame the setback with dedication and strong will. After moving on to high school, he consistently improved his times, demonstrating outstanding potential. As a high school senior in September 2024, Nwamadi set a new high school record of 10.30 seconds in the 100-meter sprint, garnering attention as a promising athlete with the potential to be the first to break Korea’s 10-second barrier. After graduating from high school in January, he joined Yecheon County’s athletic team, and continues to challenge himself to break new records through technical improvements. “Being with KB Financial Group feels like a dream, and I will do my best to repay that faith by producing excellent results,” Nwamadi said. A KB Financial offic

Mar 25, 2025By Jun Ji-hye
Next-generation short-distance track star signs sponsorship deal with KB Financial
Banking & Finance

Top proxy advisors demand greater oversight of Korea Zinc's board

Major domestic and international proxy advisory firms, as well as global sovereign wealth funds, called for stronger oversight of Korea Zinc’s current board ahead of Friday's regular shareholders’ meeting — widely seen as a pivotal moment in the prolonged management rights dispute, industry officials said Tuesday. They recommended supporting some or all director nominees proposed by the alliance of MBK Partners and Young Poong, which has been seeking to oust company Chairman Choi Yun-beom, while opposing those put forward by Choi. Norges Bank Investment Management, which oversees one of the world's largest sovereign wealth funds, Norway’s government pension fund, on Monday opposed all key proposals backed by Choi's side, including a proposal to cap the number of directors at 19. It also rejected all director nominees put forward by Choi. In contrast, it supported the shareholder proposal by the MBK alliance to appoint 17 directors and approved all 17 of its nominees. The two leading global proxy advisory firms — Institutional Shareholder Services (ISS) and Glass Lewis — both

Mar 25, 2025By Jun Ji-hye
Top proxy advisors demand greater oversight of Korea Zinc's board
Economy

Korea Exchange faces scrutiny over system failure that caused KOSPI outage

The Financial Supervisory Service (FSS), the country’s financial watchdog, is looking into the Korea Exchange’s (KRX) system failure that caused a KOSPI trading halt last week, evaluating whether a formal inspection is necessary, officials said Sunday. A system error at the exchange disrupted KOSPI stock trading for about seven minutes last Tuesday. While previous system failures have occasionally halted trading of specific stocks before or after market hours, this was the first full-scale trading halt during regular market hours since the KRX was established in 2005. “The trading halt in the stock market is a significant event that warrants regulatory review,” an FSS official said. “We are assessing the situation through the exchange and considering whether a formal inspection is necessary and, if so, the appropriate timing.” According to the exchange, the home trading systems of all securities firms froze for seven minutes from 11:37 a.m. to 11:44 a.m. last Tuesday, completely paralyzing both price quotations and order executions. KRX explained that the failure was caused b

Mar 23, 2025By Jun Ji-hye
Korea Exchange faces scrutiny over system failure that caused KOSPI outage
Economy

Will short selling resumption bring foreign investors back to KOSPI?

The full resumption of short selling in Korea on March 31 is expected to serve as a stepping stone for the return of foreign investors to the domestic stock market, analysts said Sunday. They said the influx of foreign capital following the resumption will help reinvigorate the local bourse, which has been struggling with weakened resilience after seven months of net selling by foreign investors in the main KOSPI market. Korea imposed a ban on short selling in November 2023 after financial authorities discovered a series of naked short selling violations by several global investment banks. The ban is set to be lifted next Monday, with the authorities emphasizing regulatory enhancements and stricter oversight. According to the Korea Exchange data, domestic stocks held by foreign investors were valued at 741 trillion won ($506 billion) as of Friday, accounting for 29.2 percent of the total market cap. The foreign ownership ratio has remained in the 20 percent range for six consecutive months after falling below 30 percent last September, due largely to foreign investors’ continued net se

Mar 23, 2025By Jun Ji-hye
Will short selling resumption bring foreign investors back to KOSPI?
Economy

7 in 10 report declining household finances amid surging inflation

Lee, the mother of a 3-year-old son who lives in Seoul's Jungnang District, recently started working part-time at a restaurant. She had to quit her job during pregnancy due to health issues, but with the recent surge in living costs, she felt that her husband’s salary alone was no longer enough to support the family. After dropping her child off at day care, she goes straight to work, where she stays until 4 p.m. helping the restaurant prepare for opening, and then picks her child up from day care. “Although my part-time job doesn’t pay as much as I used to earn in my full-time job, I need to earn money in any way I can because the costs of living have risen so much,” she said. “I want to have a second child, but given the current financial situation, I feel it is out of reach.” Lee is not the only one feeling the strain on household finances. According to a survey released Thursday by the Federation of Korean Industries (FKI), seven out of 10 people perceive their financial situation as worse than last year, with rising prices cited as the main reason. In the survey of 1,000

Mar 20, 2025By Jun Ji-hye
7 in 10 report declining household finances amid surging inflation
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