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Lee Hyo-jin

Korea Times Finance Reporter

Lee Hyo-jin covers the Bank of Korea, the banking industry and broader financial news. Her previous beats include foreign affairs, North Korea and general reporting on Korean society.

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Banking & Finance

Goldman Sachs eyes Tmap Mobility acquisition by year-end

Goldman Sachs is seeking to acquire a controlling stake in Tmap Mobility, operator of Korea’s leading navigation app, from SK Square by the end of this year, seeing an investment opportunity in its lower valuation and vast trove of mobility data as autonomous driving advances, industry sources said Friday. For SK Square, SK Group’s investment arm and the largest shareholder of SK hynix, the sale is part of a broader strategy to focus on artificial intelligence (AI) and semiconductors. The global investment bank is looking to invest between 600 billion won ($450 million) and 800 billion won to secure a 60 to 70 percent stake in Tmap Mobility. It is in talks to buy shares from SK Square, the largest shareholder with a 63.23 percent stake, as well as other financial investors, including Affirma Capital and EastBridge Partners, which each hold 9.83 percent, and KB Kookmin Bank, which owns 6.39 percent. Tmap Mobility traces its roots to a navigation service launched by SK Telecom in 2002. The telecom operator spun off its mobility business into a separate company in December 2020, and Tm

2d agoBy Lee Hyo-jin
Goldman Sachs eyes Tmap Mobility acquisition by year-end
Banking & Finance

US dividend ETFs draw attention amid stock market volatility

Growing volatility in the Korean stock market is prompting investors' attention to U.S. dividend-paying stocks, with some seeking regular income rather than relying solely on stock price gains, market watchers said Friday. One option is the Dow Jones U.S. Dividend 100 Index, which tracks 100 U.S. companies selected for their dividend records and financial strength. To qualify, companies must have paid dividends for at least 10 consecutive years. They are also assessed on their five-year dividend growth, return on equity and debt relative to cash flow. The index includes companies from a range of industries, including energy, consumer staples and health care. In Korea, Mirae Asset Global Investments' TIGER U.S. Dividend Dow Jones exchange-traded fund (ETF) had 4.56 trillion won ($3.41 billion) in net assets as of Thursday, making it the largest locally listed ETF tracking the index, according to the asset manager. Some asset managers are taking the strategy a step further by combining dividend-paying stocks with covered-call options, a strategy in which an investor sells call options on s

2d agoBy Lee Hyo-jin
US dividend ETFs draw attention amid stock market volatility
Global Community

WEEKENDER Beyond Korea: Foreign entrepreneurs turn Korean culture into business opportunities

The global popularity of Korean culture continues to grow, with K-pop, dramas, food and beauty products reaching audiences around the world. For some foreign nationals, that appeal goes beyond consumption. An increasing number of foreign entrepreneurs are turning their interest in Korean culture into business opportunities, finding new ways to bring the country's cultural assets to global markets. Yet starting a business in a foreign country comes with challenges, from unfamiliar administrative systems to differences in business culture. The Korea Times spoke with foreign entrepreneurs behind two businesses seeking to bring Korean culture to global markets, exploring the opportunities and challenges they have encountered along the way. Bringing K-dramas to European audiences French nationals Christophe Diez and Jeanne Dubresson are working to connect Korean content producers with overseas viewers through the streaming app Kyool. Diez's interest in Korea began in 2015, when he came across a Korean romantic comedy series while developing new stories. The project led him to explore Korean cul

Oct 30, 2026By Lee Hyo-jin
[WEEKENDER] Beyond Korea: Foreign entrepreneurs turn Korean culture into business opportunities
Banking & Finance

JB Financial expands partnerships with AI, fintech companies

JB Financial Group brought together strategic partners at its annual forum to expand cooperation in artificial intelligence (AI) and fintech, the company said Thursday. The group held its second annual JB Forum from last Friday to Saturday at its campus in Jeongeup, North Jeolla Province, with 14 partners from Korea and abroad participating. Held under the theme "Navigating Tomorrow," the two-day forum featured strategic partners including Finda, Upstage, Aigen Global, Higher Diversity and MediArk, which shared business developments and discussed potential areas of collaboration. JB Financial has made strategic investment in 17 companies so far, expanding its focus this year beyond domestic and overseas fintech firms to include AI and digital assets. Four companies joined its partner network this year including Upstage, Streami, U.S.-based AI security firm CipherData and Higher Diversity. Participants shared developments from the past year and discussed how AI could reshape financial services and workplace practices. The forum also featured demonstrations of physical AI, with humanoid robo

Oct 29, 2026By Lee Hyo-jin
JB Financial expands partnerships with AI, fintech companies
Banking & Finance

Fines won't fix problem: Korea needs new playbook as AI changes hacking paradigm

Fines and stricter regulations are no panacea for a growing wave of suspected artificial intelligence (AI)-assisted cyberattacks targeting Korea's financial sector, a cybersecurity expert said Thursday, calling for a government task force to overhaul the country’s cybersecurity defenses. "Humans simply cannot keep up with AI agents' hacking threats. The entire paradigm of cybersecurity has changed, requiring both the government and the private sector to rethink how they defend against cyberattacks," Lim Jong-in, chair of the AI committee at Soongsil University, said in a phone interview with The Korea Times. Lim, a former presidential special adviser on cybersecurity, called for the launch of a presidential office-led task force to coordinate responses to AI-driven threats, warning that such attacks will become more sophisticated. His warning comes as suspected AI-assisted cyberattacks ripple through Korea's financial sector, spreading from commercial banks to brokerages and cryptocurrency exchanges. Brokerage firm Daishin Securities, cryptocurrency exchange Bithumb and asset manager M

Oct 29, 2026By Lee Hyo-jin
Fines won't fix problem: Korea needs new playbook as AI changes hacking paradigm
Economy

Fed's hawkish hold strengthens case for BOK's hike in November

The U.S. Federal Reserve's hawkish decision to hold interest rates steady has strengthened the case for the Bank of Korea (BOK) to raise its benchmark rate as early as next month, as stronger-than-expected growth and persistent inflation reinforce the need for further monetary tightening, analysts said Thursday. The Fed kept its benchmark interest rate unchanged at 3.75 to 4 percent on Wednesday (local time), but signaled that inflation remains elevated and reaffirmed its commitment to bringing inflation back to its 2 percent target. The decision has kept markets focused on the possibility of another Fed rate hike in December, raising the prospect that the BOK could pursue further tightening before its U.S. counterpart makes its next move. The BOK held its benchmark rate at 3 percent at its rate-setting meeting last Thursday, saying it needed more time to assess domestic and external economic conditions and the effects of two previous rate hikes. Recent economic data have strengthened the case for further tightening. Korea's real gross domestic product grew 1 percent in the third quarter

Oct 29, 2026By Lee Hyo-jin
Fed's hawkish hold strengthens case for BOK's hike in November
Economy

Chip boom fails to lift spending as private consumption falls

Korea's economy is growing on the back of a semiconductor export boom, but consumers aren't feeling the benefits. Private consumption fell 0.2 percent in the third quarter from the previous quarter, marking its first decline since the second quarter of 2023, according to preliminary data on third quarter economic growth from the Bank of Korea (BOK), Tuesday. Private spending growth had already slowed from 0.6 percent in the first quarter to 0.4 percent in the second before turning negative in the third. Spending declined for both goods, including cars and home appliances, and services, such as financial and dining services. The decline came even as the economy expanded 1 percent in the third quarter from the previous quarter, exceeding the central bank's forecast of 0.3 percent. Weak private spending stood in contrast to stronger headline growth driven by robust semiconductor exports. While the export boom has lifted overall economic growth, its benefits have yet to result in a stronger recovery in domestic consumption. The BOK attributed the decline in private consumption partly to a drop

Oct 27, 2026By Lee Hyo-jin
Chip boom fails to lift spending as private consumption falls
Economy

COVER STORY Chip exports drive Korea's Q3 growth to 1%, triple BOK forecast

Korea's economy expanded 1 percent in the third quarter from the previous quarter, extending its stronger-than-expected growth on the back of booming semiconductor exports, the Bank of Korea (BOK) said Tuesday. After exceeding expectations in the first and second quarters, the economy continued to outperform forecasts in the third quarter, putting annual growth within reach of 3 percent, with some saying it may even reach up to 4 percent. Preliminary data from the central bank showed that real gross domestic product (GDP) rose 1 percent in the July-September period, significantly exceeding the BOK's own projection of 0.3 percent for the quarter. The country's quarterly growth rebounded sharply to 1.8 percent in the first quarter from a 0.1 percent contraction in the fourth quarter of 2025, before standing at 0.6 percent in the second quarter, also beating expectations. In the third quarter, facilities investment rose 4.1 percent, mainly on increased investment in machinery, including semiconductor manufacturing equipment. Investment in intellectual property products grew 2.3 percent as s

Oct 27, 2026By Lee Hyo-jin
[COVER STORY] Chip exports drive Korea's Q3 growth to 1%, triple BOK forecast
Economy

KOSPI falls as investors remain cautious ahead of chip earnings

The benchmark KOSPI fell Monday as renewed tensions in the Middle East sent oil prices higher, while investors remained cautious ahead of earnings announcements from Korea's major chipmakers later this week. The KOSPI closed at 5,469.47, down 1.46 percent, or 80.83 points, from the previous session. Foreign investors sold a net 6.955 trillion won ($5.26 billion) worth of shares, while institutional and retail investors bought a net 6.11 trillion won and 474 billion won, respectively. Blue-chip stocks also closed lower. SK hynix fell 2,000 won to 1,275,000 won, while Samsung Electronics dropped 2,500 won to 213,000 won. Renewed tensions in the Middle East weighed on investor sentiment, with reports that U.S. President Donald Trump was considering resuming strikes on Iran, fueling concerns over escalating conflicts. Brent crude futures hovered around $115 a barrel after rising about 6 percent last week on fears of disruptions to energy supplies. Investors also turned cautious ahead of earnings reports from Korea's two major chipmakers. SK hynix is scheduled to report its third-quarter result

Oct 26, 2026By Lee Hyo-jin
KOSPI falls as investors remain cautious ahead of chip earnings
Economy

Currency rally fuels hope for exchange rate below 1,300 won per dollar

The Korean won has strengthened sharply against the U.S. dollar in recent months, raising expectations that the won-dollar exchange rate could fall below 1,300 won per dollar and enter the 1,200 won range, market watchers said Monday. On Seoul's foreign exchange market, the exchange rate closed at 1,323.1 won per dollar, down 1.5 won from the previous session. The exchange rate has fallen by more than 200 won from its monthly average of 1,528 won in June, as strong semiconductor exports have helped offset dollar demand from foreign investors selling Korean stocks. The won's recovery is also reflected in its nominal effective exchange rate (NEER), which measures the currency's value against those of its major trading partners without adjusting for inflation. According to the Bank for International Settlements, the won's NEER index rose to 94.83 as of last Tuesday, up from 91.99 at the end of September. This marks the highest level since Oct. 9, 2024, when the index was 94.91. The NEER, which uses 2020 as its base year with a value of 100, fell to 81.99 in June. At the time, the won-dollar

Oct 26, 2026By Lee Hyo-jin
Currency rally fuels hope for exchange rate below 1,300 won per dollar
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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.