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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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Companies

Prolonged won weakness weighs on Korean firms, banks

Corporate and financial sectors are facing mounting pressure from the won's prolonged weakness, with the won-dollar exchange rate remaining at elevated levels for more than two months. According to the Seoul foreign exchange market, the won has hovered around the 1,500-per-dollar level since mid-May, fluctuating around the psychologically important threshold as foreign equity outflows offset strong stock market gains and a large current account surplus. This lifted the second-quarter average exchange rate to 1,501.6 won, its highest quarterly level since the Asian financial crisis in 1998. The won briefly strengthened on Friday, with the won-dollar exchange rate ending onshore trade at 1,478.5 per dollar, its lowest close since May 11, when it finished at 1,472.4. The rate saw little change on Monday, closing at 1,478.4. A weaker won is creating winners and losers across industries. Manufacturers that rely heavily on imported raw materials and components are facing higher production costs, while companies with foreign currency-denominated debt are shouldering heavier repayment burdens a

Jul 20, 2026By Jun Ji-hye
Prolonged won weakness weighs on Korean firms, banks
Others

Chip boom puts Korea's per capita GDP within reach of $40,000

Korea’s per capita gross domestic product (GDP) is on track for its largest increase in five years this year amid the global semiconductor boom, bringing the country close to the $40,000 threshold, government data showed Sunday. If the average won-dollar exchange rate declines in the second half of the year, Korea’s per capita GDP could surpass $40,000 for the first time this year. According to data provided by the Ministry of Finance and Economy and the Bank of Korea, the country’s per capita GDP is projected to reach $39,164 this year, up $2,750, or 7.6 percent, from a year earlier, marking the largest annual increase since 2021, when it jumped 11.5 percent. The estimate is based on the government’s announcement last week that nominal GDP is expected to grow 12.3 percent this year, the fastest pace since 1996, driven by a semiconductor-led export surge. Based on the government’s 2025 nominal GDP estimate of 2,676.7 trillion won ($1.8 trillion), this year’s nominal GDP is projected to rise to 3,005.9 trillion won. Converted into U.S. dollars using the average won-dollar exch

Jul 19, 2026By Jun Ji-hye
Chip boom puts Korea's per capita GDP within reach of $40,000
Policy

Korea to keep inflation below 3%, accelerate won internationalization

The government will focus on keeping consumer inflation below 3 percent in the second half of the year while accelerating the internationalization of the won, including measures to allow foreign investors to trade the Korean currency more freely offshore, Finance Minister Koo Yun-cheol said Wednesday. The finance ministry will also seek to enact a new national assets law to overhaul the management of more than 1,400 trillion won ($938 billion) in state-owned assets and broaden the framework to include emerging assets such as intellectual property and virtual assets. Koo outlined the plans to President Lee Jae Myung as part of a 10-point economic agenda for the second half of the year. The policy package focuses on stabilizing prices, fostering new growth engines and reforming the nation's economic systems. He said the ministry will launch unprecedented discount promotions on agricultural, livestock and fisheries products while lowering wholesale supply prices to curb rising price pressure fueled by the Middle East conflict and keep second-half consumer inflation below 3 percent. It will

Jul 15, 2026By Jun Ji-hye
Korea to keep inflation below 3%, accelerate won internationalization
Policy

Foreign exchange authorities prioritize market imbalances over exchange rate level

As the won-dollar exchange rate remains at unusually elevated levels despite record-high exports fueled by strong semiconductor demand, market attention has increasingly turned to the question of how much ammunition foreign exchange authorities have. Typically, stronger exports lead to increased dollar inflows, which support the won and push down the exchange rate. This time, however, the exchange rate has remained in the psychologically significant 1,500-won range for about two months. The won has fallen about 8 percent against the dollar this year, while the dollar index has risen about 3 percent during the first half. On Monday, the won also traded in the 1,500-won-per-dollar range before closing at 1,503.4 won in onshore trading, down 2.0 won. A prolonged period of won depreciation could fuel higher import costs, squeeze corporate margins and erode households' real purchasing power. Following the 1997 Asian financial crisis, Korea adopted a free-floating exchange rate system in which the won's value is driven by market demand and supply rather than government-set levels. More buyers

Jul 13, 2026By Jun Ji-hye
Foreign exchange authorities prioritize market imbalances over exchange rate level
Companies

JoongAng Ilbo begins workout as creditors back debt restructuring

JoongAng Ilbo, one of Korea's major newspaper publishers, won approval Friday to begin a workout program after facing a liquidity crisis. A workout is a debt restructuring process conducted through negotiations with creditors, allowing a company to retain greater control over its restructuring than under court-supervised rehabilitation. The decision came about three weeks after JoongAng Ilbo, the flagship of JoongAng Group, formally applied for a workout with its lead creditor, Hana Bank, on June 19, after a 22 billion won ($15 million) commercial paper issue was officially declared in default amid mounting financial strain across the group. Hana Bank and other financial creditors approved the launch of the workout at the first creditors' meeting, held through a written vote. By 6 p.m., creditors representing more than 75 percent of outstanding financial claims had backed the plan, meeting the threshold required to begin the process. Under Korean law, a workout requires approval from creditors representing at least three-quarters of outstanding financial claims. Following the approval, cre

Jul 10, 2026By Jun Ji-hye
JoongAng Ilbo begins workout as creditors back debt restructuring
Policy

Tighter ETF rules likely as gov't moves to strengthen investor protection

The government and the ruling party are weighing tighter rules for single-stock leveraged exchange-traded funds (ETFs) linked to Samsung Electronics and SK hynix after the products came under fire for exacerbating volatility in the domestic stock market, according to industry officials Thursday. With regulators signaling plans to strengthen investor protection and safeguard market stability, policymakers are expected to consider tightening investor eligibility requirements, lowering leverage limits, restricting approvals for new single-stock leveraged ETFs and strengthening oversight of fund size and rebalancing practices. Heightened market volatility since the high-risk products were introduced is reflected in market data. The KOSPI 200 Volatility Index, or VKOSPI, stood at 70.7 on May 27, when 14 leveraged ETFs and two inverse ETFs tracking the two major chipmakers, which together account for more than half of the KOSPI's market capitalization, began trading simultaneously. It had risen to 93.8 by June 30, exceeding the previous high of 89.3 reached during the 2008 global financial cr

Jul 9, 2026By Jun Ji-hye
Tighter ETF rules likely as gov't moves to strengthen investor protection
Others

IMF lifts Korea's growth outlook to 2.6%, biggest upgrade among 30 major economies

The International Monetary Fund (IMF) on Wednesday raised its forecast for Korea’s economic growth this year to 2.6 percent, up 0.7 percentage point from its April projection, marking the largest upward revision among the 30 major economies covered in its latest outlook. The IMF said stronger exports of semiconductors and artificial intelligence (AI)-related goods helped Seoul offset the impact of the conflict in the Middle East. In its July World Economic Outlook Update, the IMF lowered its global growth forecast for 2026 by 0.1 percentage point from April to 3 percent. In contrast, it raised Korea’s growth outlook by 0.7 percentage point to 2.6 percent for this year and by 0.4 percentage point to 2.5 percent for 2027. The IMF said the global economy is being shaped by two major forces — supply disruptions linked to the Middle East conflict and growth driven by the AI technology cycle. Korea was assessed as maintaining a relatively strong outlook due to steady external demand for semiconductors and strong exports of AI-related hardware. In particular, the fund identified Korea as

Jul 8, 2026By Jun Ji-hye
IMF lifts Korea's growth outlook to 2.6%, biggest upgrade among 30 major economies
Others

Why won isn't recovering despite record exports

The Korean won has continued to weaken despite record exports and a sustained bull run in the stock market, trading above the key psychological level of 1,500 won for nearly two months from mid-May. The won briefly strengthened on Wednesday, gaining 29.7 won to close at 1,498.5 won against the dollar in onshore trading, its first close below the 1,500-won level in 37 trading days since May 14. But the breach proved temporary, with the currency weakening 7.6 won on Thursday to finish at 1,506.1 per dollar and move back above the key threshold. The country’s monthly exports topped $100 billion for the first time on record in June, according to data released by the Ministry of Trade, Industry and Resources, while the benchmark KOSPI has been riding a historic bull run, trading in the 8,000-9,000 range, helped by an artificial intelligence-driven rally in semiconductor stocks. Conventionally, robust exports boost dollar inflows, a factor that would normally support the local currency. In addition, rising stock prices have traditionally been associated with foreign capital inflows, which i

Jul 8, 2026By Jun Ji-hye
Why won isn't recovering despite record exports
Companies

Calls grow to delist Samsung, SK hynix leveraged ETFs

Political pressure is mounting to delist single-stock leveraged exchange-traded funds (ETFs) tied to Samsung Electronics and SK hynix following successive risk warnings from financial authorities and the Bank of Korea (BOK), as the high-risk products are being increasingly blamed for recent turbulence in the domestic stock market. Rep. Ahn Cheol-soo of the main opposition People Power Party (PPP) slammed the rollout of the products as a complete policy failure, calling for aggressive regulatory intervention, including their delisting, to restore normal market operations. "KOSPI has devolved into a casino," Ahn wrote on Facebook Monday, pointing to the 212 trillion won ($139 billion) traded in the leveraged funds, which he argued has fueled sharp swings in stock prices. "All 14 single-stock leveraged ETFs tracking the two chipmakers have posted negative returns over the past month, with losses reaching as much as 35.9 percent," he wrote. "To stabilize the market, sweeping corrective measures, including forced delistings, are urgently needed." Ahn also urged President Lee Jae Myung to hold

Jul 7, 2026By Jun Ji-hye
Calls grow to delist Samsung, SK hynix leveraged ETFs
Others

Why Korea's IPO boom has turned into bust

Korea’s initial public offering (IPO) market is rapidly losing momentum despite a strong first-half rally in equities, as newly listed stocks have struggled to hold their offering prices, analysts said Monday. The weakness reflects a market increasingly concentrated in heavyweight semiconductor stocks, while expectations of stricter listing rules have further dampened investor appetite for new offerings, they said. Korea Exchange data show that the number of IPOs in Korea fell sharply in the first half, with just 17 companies listing on the markets — one on the KOSPI and 16 on the Kosdaq. This marks a significant decline from 38 companies a year earlier. Of the 17 newly listed firms, 14 were trading below their IPO prices as of the Thursday close. Peace Piece Studio has emerged as the worst performer among this year’s IPOs. The operator of fashion label Mardi Mercredi, once touted as a potential K-fashion unicorn, slumped more than 36 percent on its market debut on June 8. Its shares have since extended losses to more than 75 percent below the IPO price. Autonomous driving software

Jul 6, 2026By Jun Ji-hye
Why Korea's IPO boom has turned into bust
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