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.
For years, it’s been this reporter's weekly ritual to go to a large discount store in the neighborhood for groceries and other daily necessities. It seems to be pretty much the same for most households here, except for those who have shifted entirely to shopping online.
Dyson, a global consumer product tech company, has vowed to improve its customer service in Korea following a series of complaints concerning its hair driers and other products, the company said Thursday.
Nexen Tire, a leading global tire manufacturer, said Wednesday that its N’Blue 4 Season 2 tires have received the “Green Tire” seal of Auto Bild, one of Germany’s most prestigious automobile magazines.
A reporter who had worked at The Korea Times for nearly 10 years recently moved to one of the country’s major entertainment agencies. He has his own reasons to quit being a journalist and become one of many who have left the press in recent years to pursue a new career in a different field, but his departure reflects the undeniable reality that the media has increasingly become a less attractive workplace.
Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won speaks during a press briefing at Haevichi Hotels & Resorts on Jeju Island, Wednesday. Courtesy of KCCIBy Lee Hyo-sikJEJU ― Korea will be able to further expand its “economic territory” if its second-largest city of Busan hosts the World Expo in 2030 as the nation forms closer ties with countries in South America, Africa and elsewhere, according to the head of the biggest business lobby here, Wednesday.“World Expo is not just a mere international event. I think it enables the host nation to explore new markets through its bidding campaign and preparation process,” Chairman of the Korea Chamber of Commerce and Industry (KCCI) Chey Tae-won told reporters on Jeju Island. “If Busan wins the bid, we will work more closely with 179 member states (of the Bureau International des Expositions (BIE)). This will create new business opportunities for Korean companies in less-known countries.”The BIE is the international body in charge of overseeing the World Expo. Busan is competing with t
By Lee Hyo-sikThe 123rd U.S. Open, overseen by the United States Golf Association (USGA), ended in a dramatic fashion Sunday (local time), with American golfer Wyndham Clark winning his first career major title. As always, this year's third major championship attracted a great deal of attention from Korean golf fans. Many of them stayed up all night to watch PGA tour players give their best with the best-available equipment to conquer Los Angeles Country Club.But we may not be able to see the spectacular performances of these world's top-class golfers, such as over-300-yard tee shots, in 2026 as the USGA and The Royal & Ancient (R&A), which hosts The Open in the United Kingdom, are pushing to limit the performance of golf balls. The two bodies, which govern the rules of golf and advocate the interests of golf clubs in their respective countries, seem to view an increasing number of professional golfers that drive balls to over 300 yards as a threat to the sport. As a way to rein in how far tour players can hit the balls, the two organizations proposed in March two different s
By Lee Hyo-sikWe have only five more months to go until 179 countries around the world vote to decide which city will host the World Expo 2030. Government officials and businesspeople have been working tirelessly to attract the international event to the southeastern port city of Busan since President Yoon Suk Yeol took office in May last year.Yoon and most of his Cabinet members will head to Paris next week to attend a meeting of the Bureau International des Expositions (BIE), the international body in charge of overseeing the World Expo. The heads of Korea's top four business groups ― Samsung Group's Lee Jae-yong, SK Group's Chey Tae-won, Hyundai Motor's Chung Euisun and LG Group's Koo Kwang-mo ― will also be in the French capital to pitch for Busan.All 179 member states are expected to attend the BIE general assembly set for next Tuesday and Wednesday, and when they meet next time in November, they will pick the host city of the World Expo 2030. On Tuesday, Korea will give a presentation on how it will organize the event and why it should earn the much-coveted right. The next day,
From left, Thales Senior Vice President Guy Bonassi, poses with Huneed Technologies President Kim Wang-kyung, after signing a memorandum of understanding to cooperate on naval command and control systems businesses during the International Maritime Defense Industry Exhibition (MADEX 2023) at BEXCO in Busan, Wednesday. Courtesy of Huneed Technologies By Lee Hyo-sikHuneed Technologies, a global aerospace and defense manufacturer, said Friday that the global it recently signed a memorandum of understanding (MOU) with Thales, an international defense contractor, to cooperate on the development of advanced naval command and control systems.Huneed plans to work with Thales to expand its development of Identification Friend or Foe (IFF) equipment and naval command systems. The signing took place during the International Maritime Defense Industry Exhibition (MADEX 2023) at BEXCO in Busan, Wednesday, attended by Huneed President Kim Wang-kyung and Thales Senior Vice Presiden
An instructor explains Korean food preparation to foreign correspondents at E:eum, a Korean food cultural venue in Jongno District, Seoul, Thursday. Courtesy of Korean Food Promotion InstituteKwon Jae-han, deputy minister for agricultural innovation policy at the Ministry of Agriculture, Food and Rural AffairsBy Lee Hyo-sikInterest in Korean culture is higher than ever today, in line with the ever-growing popularity of K-content, which encompasses K-pop, movies, entertainment, and food sectors.Recently, TV programs have been featuring the launch of Korean restaurants overseas to promote the country's food to local people. In 2022, ATOMIX became the first Korean restaurant to be listed on the World's 50 Best Restaurants (W50B) ― known as the Oscars of the culinary industry.With the increasing recognition of Korean food brands globally, Kwon Jae-han, deputy minister for agricultural innovation policy at the Ministry of Agriculture, Food and Rural Affairs, said in a recent interview with The Korea Times that the government has been introducing a range of policies to promote Korean food
Pernod Ricard Korea Marketing Director Miguel A. Pascual Nombela poses with Ballantine's, Chivas Regal and other products at the company headquarters in Seoul. Courtesy of Pernod Ricard Korea Company posts 32.5% sales increase for 2022 By Lee Hyo-sik Korea's imported liquor market has seen a steady increase in sales over the past year as more and more young consumers here turn to whisky and other types of hard liquor. Pernod Ricard Korea (PRK) has been riding high on the trend, posting a 32.5 percent increase in sales last year from 2021. The Korean unit of the French spirits maker plans to focus on marketing activities to engage directly with Korean consumers both online and offline, as well as offering a variety of products and services.The Korea Times conducted an interview with PRK Marketing Director Miguel A. Pascual Nombela, a marketing expert who won Lions creativity awards at Cannes and a number of brand campaign prizes and marketing effectiveness awards. He