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Lee Hyo-sik

Korea Times Finance Reporter

Lee Hyo-sik is Finance Desk editor at The Korea Times. He manages finance-related stories on macroeconomics, banks, stocks, bonds, crypto etc. He is passionate about covering what's happening in Korea's financial industry and explaining it to both Korean and non-Korean readers. You can reach him at leehs@koreatimes.co.kr. Your insights and feedbacks are always appreciated.

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South Korea

Counseling call center for migrant workers to open

By Lee Hyo-sik The government will open a call center to counsel migrant workers here today, as part of efforts to help them adapt to life in Korea and better resolve disputes between workers and their Korean employers. A group of counselors will offer advice and answer questions in 10 different languages. The Ministry of Employment and Labor said Thursday that the call center will be set up in Ansan, Gyeonggi Province, where many migrant workers and their families reside. Those who want to receive counseling can either visit the center or call 1577-0071. Of the 25 call center counselors, 23 are migrant wives who can speak at least two different languages. Migrant workers from 10 countries can ask about job-related matters and other difficulties they face here without having to climb the language barrier. The 10 languages are Korean, English, Vietnamese, Chinese, Thai, Indonesian, Sri Lankan, Mongolian, Uzbek and Cambodian. The visiting hours are from 9 a.m. to 6 p.m. 365 days a year. From 6 p.m. through 9 a.m., only the center’s automated response system is av

Jun 30, 2011By Lee Hyo-sik
South Korea

Textbooks to go digital by 2015

By Lee Hyo-sik Paper-based textbooks will likely disappear from elementary and secondary schools here by 2015 as students will learn English, math and other subjects through computers and other digital devices, the government said Wednesday. In a report to President Lee Myung-bak, the Ministry of Education, Science and Technology, and the President’s Council on Information Strategies jointly unveiled “Smart Education Strategies,” aimed at enabling both students and teachers to more effectively engage in lectures and other learning activities. The education ministry said it will secure 2.23 trillion won to build the necessary infrastructure and purchase personal computers and other digital devices over the next four years. Under the plan, paper-based textbooks, reference books, dictionaries and other materials will be digitalized for elementary schools by 2014. By 2015, all middle- and high-school students will take lessons using digital textbooks and online-based materials on computers, smartphones and other devices. Meeting academic needs The government also p

Jun 29, 2011By Lee Hyo-sik
South Korea

Rain pounds central regions

Residential areas in Seoul suffer casualties By Kim Rahn Rain pounded central parts of the Korean Peninsula Wednesday, causing casualties from landslides, and flooding roads and houses in Seoul and the surrounding metropolitan area. Heavy rain alerts were issued in Seoul, Incheon, and Gyeonggi, western South Chungcheong and western Gangwon provinces, with warnings in eastern Gangwon Province. Seoul received more than 200 millimeters of rainfall. “The rain is a typical torrential downpour with a huge amount of rain during a short time. The precipitation varies from region to region, and some districts had 50 millimeters of rainfall per hour with thunder and lightning,” a Korea Meteorological Administration (KMA) official said. The rain caused a landslide at a construction site in Dobong, northeastern Seoul, at around 1 p.m. Three vehicles passing the site were buried under the landslide, killing one person and injuring three others. The landslide also buried a railroad section between Wolgye and Changdong Station of subway line No. 1, halting subway operatio

Jun 29, 2011By Lee Hyo-sik
Travel & Food

Experience luxury stay at InterContinental Seoul COEX

Located at the center of the trend-setting entertainment and business district in southern Seoul, InterContinental Seoul COEX holds a reputation for its stylish facilities, quality service and successful hosting of international events such as the G20 Seoul Summit. The hotel is committed to achieving sustainable growth as a global leading hotel by strengthening its premium brand image. It is part of the World Trade Center complex, with convenient direct access to business locations like the ASEM Tower and City Air Terminal which provides immigration service, luggage check-in and transportation to the airport. Entertainment and shopping facilities such as the COEX Mall and the Hyundai Department Store are in the vicinity, gaining popularity among young executives and businesspeople. The basic concept of the interior is simple and modern, using metal and glass with marble-looking granite. The lobby, guest rooms and the banquet area display many minimalism paintings and other art pieces. To give guests examples of Korean culture, all rooms are decorated with contemporary K

Jun 29, 2011By Lee Hyo-sik
Travel & Food

Experience best relaxation at W

Spa-savvy urban dwellers and travelers are welcomed to AWAY Spa at the W Seoul-Walkerhill, an exclusive world of sensory spa experiences destined to ignite and delight the senses. The W Seoul Walkerhill is part of W Hotels, the world’s “foremost style” hotel brand of Starwood Hotels and Resorts, which offers some of Asia’s most stunning getaway venues with up-to-date spa facilities and quality service. The spa check-in is on the third floor, along with restaurant Tonic, hair salon Style Lab, spa retail Take Away, fitness center SWEAT and indoor swimming pool WET. Spa treatment areas and the sauna Water Zone are located on the second floor. The first of its kind in Korea, AWAY Spa offers 5,000 square meters of pure luxury guaranteed to wow both the soul and senses. State-of-the-art technology and natural elements meld in perfect harmony in this cool, ultra-modern chill-out zone. Highlighted in the spa are private label products for the body designed with natural essential oils and ingredients, such as a W formulated scent from Eve Taylor oils. Newly launched product

Jun 29, 2011By Lee Hyo-sik
Travel & Food

Oakwood, total living solution

Oakwood Premier Coex Center Seoul, the first deluxe furnished serviced residence in Seoul, claims its reputation from not only the luxury facilities but also premium service to provide a total living solution for expats. By offering flexible and easy-to-use custom solutions it meets any temporary housing need. Oakwood Premier Coex Center’s staff of trained professionals, with innovative technologies and unparalleled customer service, has made the property the best choice in temporary housing solutions. Combining luxurious hotel services with the spaciousness of a private home, the property has 280 furnished apartments ranging from studio and one-, two-, three- and four-bedroom apartments to regal penthouses. Each of the residences, accessible by key-operated elevators, has separate living, dining and sleeping areas, along with a fully equipped kitchen. These residences meet high expectations in terms of products and services and are also designed to host gatherings or business meetings. Some of Oakwood’s signature amenities and services include a 24-hour concierge, s

Jun 29, 2011By Lee Hyo-sik
Travel & Food

Somerset Palace brings comforts of home

The name Somerset Palace Seoul comes from the picturesque Gyeongbok Palace located just about 100 meters away. As the palace was the center of the Joseon Kingdom’s capital and still is at the heart of Korea’ capital, Somerset is surrounded with many of Seoul’s diplomatic, business and financial institutions. Aside from those institutions, numerous restaurants, shopping arcades and entertainment outlets are also right in the vicinity, including those in Insadong, Jongno and Gwanghwamun. But Somerset Palace Seoul is more than just location. Along with spacious surroundings and up-to-date facilities, professionally-trained staff are there to meet and fulfill guests’ every need and provide an unrivalled level of luxury and comfort ― whether they are on business or enjoying a holiday with the family. The property is a good choice for families. Somerset knows the importance of keeping a balance between work and family life. It respects guests’ privacy and freedom to live as they want, whether they are working, relaxing or just spending time with family. Somerset’s apartments r

Jun 29, 2011By Lee Hyo-sik
Travel & Food

Imperial Palace, No. 1 choice for businesspeople in Gangnam

In the heart of Gangnam, Imperial Palace Hotel is the ideal place for those doing business in southern Seoul. Operating under the motto, “The Best of Everything,” the hotel’s convention center has two grand ballrooms and five small and medium-sized conference rooms, suitable for events of all kinds, including weddings, family gatherings, seminars and international conferences. Duhbe Hall, capable of accommodating up to 1,000 people, and Selena Hall, up to 500 people, both offer state-of-the-art audio-visual facilities. Reception areas of the halls feature an antique-style dining room with a cozy atmosphere. The hotel has 430 guest rooms and 13 restaurants and bars. Aiming to be a total cultural experience beyond just lodging, works of art fill the halls and lobbies. In a European decor, guest rooms are equipped with up-to-date facilities, such as 42-inch LCD or PDP TV and high-speed, wireless Internet service. Rooms on the fifth to ninth floors have been recently renovated, with iPod stations in each room. The hotel boast splendid suites; the Royal Suite for VIPs

Jun 29, 2011By Lee Hyo-sik
Travel & Food

Finest convention at Grand Hilton

Since the opening in 2001, Grand Hilton Seoul’s Convention Center has been the first choice for domestic and international meetings and conventions. The hotel is the ideal venue because it offers not only a peaceful locale but also the convenience of being just 15-minutes drive away from Seoul City Hall and other business institutions. Facing directly across from the main hotel building, the separate, four-story center houses a large convention hall along with small and medium-sized banquet halls and conference rooms. Unlike most other hotels where meetings and conventions are held at grand ballrooms inside the hotel buildings, Grand Hilton’s purpose-specific convention center offers a separate facility within a minute’s walk of the hotel. Featuring a spacious lobby and reception area, the center offers a quiet and tranquil atmosphere which facilitates smooth transitions between cocktail receptions, meals and meetings ― the all-in-one concept highly recognized by event organizers. The Convention Hall, the largest room, offers a contemporary atmosphere combined with state

Jun 29, 2011By Lee Hyo-sik
Society

Student Corner You probably wont read this

By Lee Ji-won You know that classic movie scene, right? The one where the suburban man steps out onto his front porch in his bathrobe, cup of coffee in hand; he bends down to pick up the morning newspaper while giving a friendly wave to his neighbor, who is also doing the same thing. Now, this image has changed to the man waking up and turning on his laptop, cup of coffee in hand. He then instead settles down into his chair and clicks on a link leading to an online newspaper article. It is inevitable that significant changes in media will occur as technology continues to advance, but some changes may be too dramatic. Well-known newspapers such as the New York Times and Wall Street Journal are certainly available in print, and people can still be found reading print newspapers. However, these newspapers are simultaneously conforming to the trend of going digital. Almost all newspapers that are still accessible in print form now have their own websites, offering readers sample articles of current events. They are largely promoting new offers as well, such as the Times Rea

Jun 29, 2011By Lee Hyo-sik
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