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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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Property tax changes complicate home ownership choices for couples

A salaried worker in his 40s surnamed Lee who lives in Seoul’s Dongjak District was caught off guard after learning that the government’s latest tax overhaul could increase the comprehensive real estate tax burden on couples who jointly own a single home. Under the tax reform plan announced on Aug. 3, some provisions of the comprehensive real estate tax would apply the same standards to couples who jointly own a single home as to multiple-home owners, potentially increasing their tax burden. “Wasn’t joint ownership between spouses encouraged by the government as a way to save on taxes?” Lee said. “I feel like I’ve been blindsided now that we’re suddenly being treated like multiple-home owners and facing tax disadvantages.” More than 4,000 comments have already been submitted to the Ministry of Government Legislation’s public legislative participation center since the proposed revisions to the tax law were posted for public comment on Aug. 4. Many of the comments raise concerns about how couples who jointly own a single home would be taxed. “It is wrong to treat coup

Aug 12, 2026By Jun Ji-hye
Property tax changes complicate home ownership choices for couples
Others

Gov't plan to relocate state-run financial institutions to regional areas faces backlash

Major state-run financial institutions, including the Korea Development Bank (KDB), are intensifying their opposition to a possible government plan to relocate their headquarters out of Seoul, industry officials said Tuesday. Unions at three major policy lenders, the KDB, the Export-Import Bank of Korea and the Industrial Bank of Korea, have planned a joint rally against the relocation, while unions at the Korea Deposit Insurance Corp. (KDIC) and Korea Trade Insurance Corp. (K-SURE) have also voiced opposition through policy forums and statements. While the government has yet to finalize the list of institutions to be relocated, local governments such as Busan are stepping up efforts to attract them to their regions. The unions of the three state-run banks argue, however, that relocating policy banks out of Seoul ignores the nature of financial markets and could weaken policy financing capabilities and national competitiveness by splitting up key financial institutions. “Even concentrating all financial capabilities in one city is not enough to compete with global financial hubs,” th

Aug 11, 2026By Jun Ji-hye
Gov't plan to relocate state-run financial institutions to regional areas faces backlash
Others

Korea's housing loan rules become patchwork of regulations, side effects, exceptions

The government’s drive to curb home prices and household debt through a series of tighter lending rules is creating growing confusion in the financial sector, with regulatory loopholes and unintended consequences emerging at every turn. The government is now scrambling to address the fallout, but its repeated reliance on adding exceptions whenever problems arise is turning housing finance regulations into an increasingly complicated patchwork. The Lee Jae Myung administration has rolled out four rounds of tighter lending rules since June 27, 2025, when it unveiled a sweeping package of measures aimed at cooling overheated home prices in the Seoul metropolitan area and curbing a surge in household debt. The latest came in its April 1 household debt management plan. The aggressive push to rein in overall lending has left banks under pressure to curb even loans tied to genuine housing demand, including balance-payment loans. Because the rules have failed to adequately distinguish between speculative and genuine demand, they have increasingly pushed ordinary homebuyers beyond the reach of

Aug 11, 2026By Jun Ji-hye
Korea's housing loan rules become patchwork of regulations, side effects, exceptions
Companies

Homeplus back in business, faces 3-week survival test

Homeplus, which had been on the brink of closure, is accelerating efforts to normalize operations after securing 200 billion won ($141 million) in emergency operating funds, company officials said Monday. Whether the large-scale retailer can restore customer trust and sales and prove its viability by the Sept. 4 deadline for approval of its rehabilitation plan will be a key test of its recovery, according to industry watchers. Homeplus resumed online orders at 2 p.m. Monday, following the reopening of 67 key stores nationwide on a trial basis last Friday. The retailer plans to resume full operations Thursday, along with marketing campaigns aimed at attracting customers. The reopening comes about a month after the 67 stores were temporarily closed starting July 13. Homeplus has been under court-led rehabilitation proceedings since March 4 last year. But the Seoul Bankruptcy Court ordered the proceedings terminated on July 3, saying the firm was unlikely to raise the necessary funds on its own after struggling to secure the 200 billion won in minimum operating funds required to implement i

Aug 10, 2026By Jun Ji-hye
Homeplus back in business, faces 3-week survival test
Banking & Finance

Hanwha, Heungkuk, Korea Investment bid for KDB Life in 7th sale attempt

Hanwha Life Insurance, Heungkuk Life Insurance and Korea Investment Holdings submitted final bids to acquire KDB Life Insurance, setting up a three-way race, investment banking industry sources said Friday. The sale of KDB Life, a subsidiary of state-run Korea Development Bank (KDB), has been ongoing since 2014, with six previous attempts to find a new owner falling through. Attention is now focused on whether the financially troubled insurer will finally find a new owner on the seventh attempt. KDB, along with Samil PwC, the lead manager of the sale, received bids from three potential buyers after closing the final round of bidding. Hanwha Life’s participation came as a surprise, as the insurer is already pursuing the acquisition of Acuon Capital and Acuon Savings Bank, a deal expected to require around 1 trillion won ($705 million). The firm's decision to join the race despite the anticipated financial burden suggests that it is willing to commit additional capital to expand its financial business, though the potential strain from a sizable capital injection could pose a challenge. Fo

Aug 7, 2026By Jun Ji-hye
Hanwha, Heungkuk, Korea Investment bid for KDB Life in 7th sale attempt
Banking & Finance

AIA Group ranks No. 1 in MDRT membership for 12th year

AIA Group has ranked No. 1 worldwide in the number of Million Dollar Round Table (MDRT) members for 12 consecutive years, AIA Korea said Friday. MDRT is a global association for leading insurance and financial services professionals, with membership limited to professionals who meet stringent production requirements and uphold high standards of expertise and ethics. AIA Group had 16,228 members qualify for MDRT membership this year, maintaining its position as the company with the world’s largest MDRT membership base. The latest figures also highlight the growing presence of high-performing insurance professionals at AIA Premier Partners, a subsidiary of AIA Korea that operates a network of face-to-face insurance agents. AIA Premier Partners had 302 agents qualify for MDRT membership this year, a 34.2 percent increase from a year earlier. The number of agents achieving even higher levels of performance grew at a faster pace. The number of Court of the Table (COT) members, whose production is at least three times the MDRT qualification threshold, rose 45.8 percent to 35, accounting for 11

Aug 7, 2026By Jun Ji-hye
AIA Group ranks No. 1 in MDRT membership for 12th year
Others

KOSPI tumbles 4.6% as chip stocks falter

The KOSPI plunged more than 4 percent Thursday, giving up gains from the previous two sessions as weakness in major semiconductor stocks weighed on the market. The tech-heavy Kosdaq swung between gains and losses before closing up 0.26 percent, extending its winning streak to five sessions. The KOSPI opened at 6,478.75, down by 119.51 points, or 1.81 percent, and extended its losses to close at 6,296.38, down 301.88 points, or 4.58 percent. Heavy selling pressure during the session prompted the Korea Exchange to suspend program selling orders for five minutes at around 10:18 a.m. under its sidecar mechanism. The benchmark index had climbed 3.76 percent the previous day for its second straight advance before reversing course Thursday. U.S. stocks provided mixed signals overnight. Nvidia, the leading AI chipmaker, gained 3.44 percent after SpaceX said it would use Nvidia chips exclusively for its data center infrastructure. AMD, on the other hand, dropped 7.04 percent after its outlook was viewed as weaker than expected. Alphabet also declined 4.06 percent after reports that Jeff Dean, a sen

Aug 6, 2026By Jun Ji-hye
KOSPI tumbles 4.6% as chip stocks falter
Others

Tax breaks fail to lure Korean investors back to local stocks

The government failed to lure Korean retail investors in U.S. stocks back to the local market even after introducing reshoring investment accounts (RIAs) in March, financial investment industry watchers said Thursday. They said growing volatility in the domestic stock market has left retail investors increasingly fatigued, while interest in U.S. stocks has picked up again. Tax benefits alone are unlikely to reverse retail investors’ preference for U.S. stocks, as they tend to prioritize returns over tax savings, they added. The RIA scheme was introduced to help stabilize the Korean won and shore up the local stock market. Under the program, investors can transfer overseas shares acquired by Dec. 23 last year to an RIA account at a Korean brokerage, sell them and invest the proceeds in local stocks or domestic equity funds for a year to qualify for a capital gains tax break. The tax deduction was set at 80 percent for overseas shares settled by the end of July and falls to 50 percent for sales settled from August through December. The full 100 percent deduction expired at the end of Ma

Aug 6, 2026By Jun Ji-hye
Tax breaks fail to lure Korean investors back to local stocks
Others

Semiconductor boom puts Korea on track for record high tax revenue

Korea’s tax revenue outlook is improving as a semiconductor-led economic recovery gains traction, offering relief to government finances after years of persistent shortfalls, government officials and analysts said Wednesday. Major tax revenues including income, corporate and securities transaction taxes have all surged from a year earlier on the back of stronger corporate earnings, rising wages and a pickup in stock trading. With Samsung Electronics and SK hynix set to make interim corporate tax payments this month based on their first-half earnings, total tax revenue could come in more than 50 trillion won above the government’s initial forecast, according to analysts. Data from the Ministry of Finance and Economy showed that the government collected 223 trillion won ($156 billion) in national tax revenue in the first half of 2026, up 17.4 percent from a year earlier. Income tax revenue rose by about 10.4 trillion won, while corporate tax receipts increased by 4.3 trillion won. Value-added tax revenue climbed 4.9 trillion won and securities transaction tax receipts rose 5.2 trillio

Aug 6, 2026By Jun Ji-hye
Semiconductor boom puts Korea on track for record high tax revenue
Policy

Stock price suppression rule faces backlash over narrow scope, weak tax impact

Criticism is mounting over the government’s tax reform plan aimed at preventing controlling shareholders from deliberately depressing share prices to reduce their tax burden when passing on their stakes to heirs, as lawmakers and experts voiced their concerns, Wednesday. Critics say the plan would do little to normalize the capital market or protect shareholder interests, while imposing only a limited tax burden on controlling shareholders. On Wednesday, the ruling Democratic Party of Korea (DPK) called for a full review of the government proposal and introduced a new bill to strengthen the measures. Rep. Lee So-young of the DPK, who pioneered the idea by introducing a bill to revise the Inheritance Tax and Gift Tax Act to curb share-price suppression in May last year, said on Facebook that the government’s proposal undermines the idea behind the bill. Under the current law, listed shares are valued using the average price for two months before and after the valuation date when they are inherited or gifted. Critics say this can encourage controlling shareholders to push down share pr

Aug 5, 2026By Jun Ji-hye
Stock price suppression rule faces backlash over narrow scope, weak tax impact
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