my timesThe Korea Times
leehs

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.

Go to Email

Read more

Opinion

Trauma of being the first

By Lee Hyo-sikSince the coronavirus began sweeping the entire nation late January, many offices, plants and other business establishments have been shut down as a result of infections among workers.There is no doubt the closures tarnished the corporate reputations of those companies and hurt their bottom lines. The individuals who unintentionally led to these unexpected shutdowns have become the subject of criticism from their coworkers and others affected.According to a recent survey of coronavirus patients in the nation by Seoul National University, they were more worried about being criticized by other people and suffering financial and other damage as a consequence while they were found to be less concerned about whether they will be able to recover from the virus.In August, two employees at the Government Employees Pension Service tested positive for the virus, becoming Public Enemy No. 1 at the company. The head of pension manager even posted a message on Facebook, blaming the two for being reckless by going to a church in Yongin, Gyeonggi Province, where mass infections occurr

Sep 9, 2020By Lee Hyo-sik
Trauma of being the first
Politics

Korean Air demands Seoul city stop blocking land sale

The site owned by Korean Air in Songhyeon-dong, Jongno-gu, in downtown Seoul. / Korea Times FileBy Lee Hyo-sikKorean Air released a statement, Friday, demanding the Seoul Metropolitan Government stop blocking the sale of a site in downtown Seoul, which the air carrier seeks to dispose of to raise much-needed cash.Korea's largest flagship carrier said the city likely violated the law by designating its 37,000-square-meter site in Songhyeon-dong, Jongno-gu, as land for a public park, urging city officials to stop infringing on its property rights.The company bought the former compound of embassy housing for American diplomatic personnel for 290 billion won ($240 million) in 2008 to build a hotel. But it has been unable to do so because of opposition from the city government. To secure cash amid its worsening bottom line and plunging travel demand, the carrier now wants to sell the property, worth about 500 billion won. But Seoul city has designated the site as a public park, driving off those prospective buyers.“Seoul city has not secured enough money to buy the Songhyeon-dong la

Aug 28, 2020By Lee Hyo-sik
Politics

Top prosecutor rejects justice minister's reform proposal

The Supreme Prosecutors' Office in Seoul / YonhapBy Lee Hyo-sikThe Supreme Prosecutors' Office has rejected a recent proposal made by the Ministry of Justice to reorganize the prosecution, a move certain to deepen the ongoing rift between Justice Minister Choo Mi-ae and Prosecutor General Yoon Seok-youl, according to legal circles Friday. The highest prosecutors' office reportedly informed the ministry of its stance on the controversial proposal, which Yoon's supporters argue is largely designed to weaken the power of the top prosecutor, saying “It needs to be carefully reviewed.” The office also reportedly pointed out “flaws” in the overhaul plan and conveyed its own suggestions.The plan centers on abolishing four senior positions at the Supreme Prosecutors' Office, whose roles are to collect information on potential criminal activities and coordinate investigations conducted by regional offices for the top prosecutor.Since Tuesday when the ministry made the scheme public, a number of prosecutors have publicly issued protests, claiming it solely aims to reduc

Aug 14, 2020By Lee Hyo-sik
Top prosecutor rejects justice minister's reform proposal
  • Over 430,000 sign for removal of justice minister
Travel & Food

Tourism underrated as job creator, growth driver

By Edmund WongMy humble career in the tourism industry has given me the opportunity to experience some of the world's most dynamic tourism markets including Singapore, Malaysia, China, Australia and New Zealand, and exotic places such as Bangladesh and Mongolia. Yet the years spent in these markets failed to prepare me for the raw potential that is Korea's tourism sector when I first came to Jeju Island six years ago. For instance, the fact that 70 percent of Korea's land mass is covered in unspoiled mountains is a true blessing for the country's tourism industry. Korea also offers a diverse range of different landscapes including beaches, valleys, marshes and rivers all just a few short hours away from each other. Coupled with Korea's cultural charms, hospitality and some of the world's most advanced public infrastructure, the nation truly has all the ingredients to offer the world a delectable tourism feast. All this notwithstanding, the question must be asked: Is Korea living up to its full tourism potential? According to a recent OECD report issued early this year, the average co

Aug 10, 2020By Lee Hyo-sik
Tourism underrated as job creator, growth driver
Health

31 out of 72 arriving from Iraq show coronavirus symptoms

Korean workers arrive at Incheon International Airport from Iraq, Friday, via a chartered flight. YonhapBy Lee Hyo-sikThirty-one out of 72 workers arriving from Iraq, Friday, showed possible coronavirus symptoms, according to the government's COVID-10 response headquarters.“Seventy-two people coming from Iraq arrived at Incheon International Airport Friday morning via a chartered flight,” a quarantine official at the headquarters said. “Of these, 31 showed a fever or other symptoms of the virus.”Quarantine officials in Iraq checked workers' health before they boarded the plane in the Middle East nation. The officials then separated people showing symptoms from those who did not on the plane. The two groups then entered Incheon International Airport through separate arrival gates. On arrival, the 31 underwent coronavirus tests. The remaining passengers will undergo two weeks of self-quarantine. “People who test positive will be quarantined and treated for the virus at treatment centers,” the official said. “Those who test negative will be hous

Jul 31, 2020By Lee Hyo-sik
31 out of 72 arriving from Iraq show coronavirus symptoms
Health

'Go vegan'

Civic group members wearing pig-like face masks stage a performance to promote veganism at Gwanghwamun Square in Seoul, Sunday. Yonhap

Jun 14, 2020By Lee Hyo-sik
'Go vegan'
Society

Summer already?

Children play on Haeundae Beach, one of the most visited summer tourist spots in Busan, Sunday. The city will officially open the beach to the public Monday requiring them to keep 2 meters apart from one another and follow other social distancing rules. Yonhap

May 31, 2020By Lee Hyo-sik
Summer already?
Health

Court lifts sales ban on Meditoxin

By Lee Hyo-sikMedytox received a court order Friday allowing the company to resume the production, sale and use of three dosage units of Meditoxin, its flagship botulinum toxin product. This means Medytox can sell one of Korea's most popular botox products until the Ministry of Food and Drug Safety decides on whether or not to officially revoke the sales permit issued to the company. Daejeon High Court lifted the ministry's order to suspend the sale of Meditoxin, which went into effect on April 17, saying the controversial administrative action could inflict irreversible damage to the company. Medytox asked the court to nullify the ministry's order, saying Meditoxin products were safe.“Given that the petitioner will suffer financial and other damage as a result of (the ministry's) order, it is urgently necessary to prevent such a loss by halting it,” the court said in a statement. “The documents submitted (by the ministry) are insufficient to prove that the suspension of its administrative order will cause any significant harm to public health.”The ruling is e

May 22, 2020By Lee Hyo-sik
Court lifts sales ban on Meditoxin
Politics

Dermatologists oppose gov't move to cancel Meditoxin permit

By Lee Hyo-sikDermatologists are opposing a government move to nullify the permit issued to Medytox for the manufacture, sale and use of three dosage units of Meditoxin, the firm's flagship botulinum toxin product, according to their association Thursday.The Korean Society for Aesthetic and Dermatologic Surgery (KSADS) has filed a petition with the Ministry of Food and Drug Safety, saying it is “too harsh” to cancel Medytox's license for 50-unit, 100-unit and 150-unit Meditoxin products. On April 17, the ministry ordered a suspension of the production and use of the botulinum products and began the process of canceling the company's license. The decision was made after the prosecution disclosed the results of its investigation into Medytox's alleged use of an unapproved ingredient to produce the drug, and acquisition of export approval by fabricating efficacy test results.?In response, Medytox asked Daejeon District Court to cancel the ministry's order, saying the Meditoxin products in question were manufactured from December 2012 to June 2015, and had all been used a lon

May 21, 2020By Lee Hyo-sik
Health

To prevent virus spread

Teachers set up plastic partitions on cafeteria tables at Duksoo High School in Seoul, Wednesday, to prevent the possible spread of the coronavirus. High school seniors are scheduled to return to school May 20. Yonhap

May 13, 2020By Lee Hyo-sik
To prevent virus spread
previous page
56789
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.