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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

Hana Financial Group launches annual internship program linking social enterprises, job seekers

Hana Financial Group said Monday that it launched its annual internship program aimed at helping social enterprises hire job seekers who face barriers to employment. The launch ceremony was held at the group's headquarters in central Seoul, Friday, and was attended by about 100 people, including Hana Financial Group Chairman Ham Young-joo, Vice Labor Minister Kwon Chang-jun, Korea Social Enterprise Promotion Agency President Jung Sung-gug, representatives of participating companies and interns. The event featured an introduction to this year's internship program and exhibition booths showcasing participating social enterprises and their products. "The internship program is meaningful in that it gives job seekers an opportunity to prove their potential while helping innovative companies grow with talented workers. We will continue supporting sustainable growth and development by connecting people with opportunities," Ham said. The annual internship program, introduced in 2022, aims to support employment at social innovation companies by matching participating firms with job seekers who of

May 18, 2026By Lee Hyo-jin
Hana Financial Group launches annual internship program linking social enterprises, job seekers
Banking & Finance

Banks raise deposit rates as stock rally accelerates cash exodus

A woman surnamed Park in her 60s living in Seoul's Yangcheon District closed two time deposit accounts worth a combined 50 million won ($33,000) last month and invested the money in shares of Samsung Electronics and SK hynix, Korea's two chipmaking giants. "I've never really been into stocks and usually stick to safer savings products," she said. "But lately, everyone around me has been talking about making money in the stock market, so I decided to close the deposit accounts I had opened just a few months earlier at KakaoBank and NH NongHyup Bank." She added, "Stock prices have been a little volatile recently, but I still think the returns will be much higher than deposit interest rates, so I don't regret the decision." An office worker in her 30s surnamed Choi also recently canceled an installment savings account at KakaoBank to invest in stocks. "I had been automatically putting 500,000 won into the account every month, but with rates in the low-3 percent range, there's little to gain after taxes," Choi said. "I thought I'd rather put the money into stocks instead." Park and Choi are a

May 18, 2026By Lee Hyo-jin
Banks raise deposit rates as stock rally accelerates cash exodus
Economy

Debate over national AI dividend premature: Nobel-winning economist

The proposed introduction of a “national dividend” system, aimed at redistributing excess tax revenue generated from windfall profits earned by companies during the artificial intelligence (AI) boom, is premature, Nobel Prize-winning economist Peter Howitt said Friday. The proposal surfaced earlier this week after Kim Yong-beom, top presidential policy adviser, suggested using excess tax revenues generated from the country’s booming AI and semiconductor industries, led by companies such as Samsung Electronics and SK hynix, for citizens under the name of national dividend. The proposal, rooted in the idea that the country’s AI infrastructure was built through decades of nationwide investment and support, immediately sparked controversy. Howitt said Korea’s fiscally responsible growth policies have been supported in part by rising tax revenues from highly profitable large corporations, which help fund government programs benefiting the broader public. He added that while some are questioning whether this is sufficient and whether redistribution should go further, it is still “

May 15, 2026By Lee Hyo-jin
Debate over national AI dividend premature: Nobel-winning economist
Banking & Finance

Fitch analyst warns SME borrower risks biggest threat to Korean banks

Small- and medium-sized enterprises (SMEs) and self-employed borrowers, whose repayment capacity may weaken under prolonged economic pressure stemming from the Iran war, remain the biggest weak spot for Korean banks, according to Fitch Ratings analyst Matt Choi. In an interview with The Korea Times in Seoul, Thursday, Choi said Korean banks are expected to maintain relatively stable earnings this year, but warned that risks tied to vulnerable borrowers should be closely monitored. "We expect Fitch-rated banks, particularly the large commercial banks, to maintain resilient credit profiles and deliver broadly stable near-term performance, given their ability supported by steady net interest margin and also the moderate loan growth for the sector overall," Choi said, adding that he expects Korea's policy rate to remain broadly stable, helping banks preserve interest margins. Choi is a director of financial institutions at Fitch Ratings. Based in Hong Kong, he covers bank credit ratings in Korea and Hong Kong. In a recent report, Fitch maintained an A+ operating environment score for Korea's

May 15, 2026By Lee Hyo-jin
Fitch analyst warns SME borrower risks biggest threat to Korean banks
Banking & Finance

Financial groups flag risks from gov't-led 'inclusive finance' in US filings

Korea's major financial groups have pointed to the government's push for easier financial access for low-income borrowers and funding for small businesses as a potential management risk in their U.S. regulatory filings, according to industry officials Thursday. The remarks, which were not included in domestic regulatory disclosures, appeared to reflect concerns within the industry over policy-driven lending initiatives and their potential impact on profitability and asset quality. According to industry officials, KB Financial Group, Shinhan Financial Group and Woori Financial Group recently submitted annual reports for fiscal year 2025 to the U.S. Securities and Exchange Commission (SEC), as their American depositary receipts (ADRs) are listed on the New York Stock Exchange. Hana Financial Group was excluded, as it does not have ADRs listed in the United States. These developments come as the Lee Jae Myung government has pushed local financial institutions to expand inclusive finance initiatives aimed at improving financial access for low-income and vulnerable borrowers, while also prom

May 14, 2026By Lee Hyo-jin
Financial groups flag risks from gov't-led 'inclusive finance' in US filings
Economy

Trump-Xi summit looms over Korea’s chip rally

A high-stakes summit between U.S. President Donald Trump and Chinese President Xi Jinping set for Thursday is putting Korea's semiconductor rally in the spotlight, market watchers said Wednesday. As the leaders of the world's two largest economies prepare to meet in Beijing, investors are closely watching whether the talks, expected to focus heavily on trade and economic issues, could affect Korea's export-driven stock market, particularly semiconductor shares that have powered recent gains. Market attention is centered on whether Washington and Beijing could reach agreements related to rare earth supplies and semiconductor trade restrictions. In recent years, Korean chipmakers have emerged as major beneficiaries of escalating U.S.-China tensions, as global customers increasingly turned to Korean suppliers viewed as less exposed to the trade and technology conflict. Analysts said a possible U.S.-China thaw in semiconductor tensions could undermine some of the advantages Korea's two chip giants — Samsung Electronics and SK hynix — have enjoyed during the prolonged trade dispute. From K

May 13, 2026By Lee Hyo-jin
Trump-Xi summit looms over Korea’s chip rally
Banking & Finance

Woori Bank targets foreign tourists with prepaid card issued at airport

Woori Bank said Wednesday that it has begun issuing a prepaid card tailored for foreign tourists at Incheon International Airport, as the bank looks to expand services for Korea's growing inbound tourism market. The NOL World Card, launched in partnership with travel platform Nol Universe and fintech firm Kona I, is designed to allow foreign visitors to exchange currency, make payments and withdraw cash immediately upon arrival in Korea. The rollout at Incheon airport marks the first on-site distribution of the card since the three companies signed a business agreement in March to develop financial services targeting foreign travelers, Woori said. The prepaid card, which offers preferential exchange rates for tourists, also allows them to reload or withdraw funds through multiple channels, including the bank's branches, ATMs, unmanned exchange machines and kiosks operated by partner companies nationwide. The bank said the card service was aimed at improving financial accessibility for short-term foreign visitors, who often face high exchange fees or payment limitations when using oversea

May 13, 2026By Lee Hyo-jin
Woori Bank targets foreign tourists with prepaid card issued at airport
Economy

KOSPI retreats from near 8,000-mark on foreign sell-off

Korea's benchmark KOSPI pulled back from the nearly 8,000-point milestone Tuesday as foreign investors turned heavy sellers to lock in profits following the market's recent rally, triggering a sharp reversal. After rising as high as 7,999.67 shortly after the opening bell, the benchmark index closed at 7,643.15, down 2.29 percent from the previous trading session. The index briefly plunged to the 7,400 level during intraday trading before paring some of its losses in the afternoon. The decline, which came after the benchmark index surged to an all-time high of 7,822.24 in the previous trading session, came as foreign investors turned heavy sellers following the recent steep rally in semiconductor stocks. According to the Korea Exchange, foreign investors and institutions offloaded 5.43 trillion won ($3.65 billion) and 798.9 billion won worth of shares, respectively, while retail investors bought 6.09 trillion won, though their buying failed to cushion the market decline. Leading chip shares also retreated. Samsung Electronics closed at 279,000 won, down 2.28 percent from the previous tra

May 12, 2026By Lee Hyo-jin
KOSPI retreats from near 8,000-mark on foreign sell-off
Banking & Finance

IBK head vows broader SME support to boost Kosdaq

Industrial Bank of Korea (IBK) CEO Chang Min-young pledged broader support for small and venture firms, Tuesday, as part of the bank's efforts to revitalize the secondary bourse Kosdaq market. "IBK will faithfully serve as a bridge so that companies with strong capabilities and growth potential can receive proper market valuations," Chang said during a press conference in Seoul marking his first 100 days in office. "As the government moves to introduce measures such as a two-tier segment system in October to revitalize the Kosdaq market, IBK will also align with that policy direction by expanding support for small and medium-sized enterprises (SMEs) and productive financing,” he added. IBK, a state-run lender focused on SMEs, plays a key role in implementing government-backed financing programs. The press conference was held on the sidelines of the "IBK Kosdaq Boom-Up Day" event, aimed at connecting Kosdaq-listed companies with investors and raising market interest. "Kosdaq is a key market for supporting the growth of small and venture firms and channeling funds to innovative companies,

May 12, 2026By Lee Hyo-jin
IBK head vows broader SME support to boost Kosdaq
Banking & Finance

Why Korea's state-run banks are no longer seen as dream jobs

Korea's state-run banks are seeing more employees leave as weakening wage competitiveness and relocation concerns weaken their appeal among young professionals, industry officials said Monday. According to data from ALIO, the public disclosure system for state-run institutions, the turnover rate among male employees at Korea Development Bank (KDB) rose to 9 percent last year from 3 percent in 2021. The rate for female employees edged up to 1.6 percent from 1.5 percent. Over the same period, male turnover at the Industrial Bank of Korea (IBK) climbed to 6.2 percent from 1.7 percent. At the Export-Import Bank of Korea (Korea Eximbank), the rate for men rose to 4.1 percent from 3.2 percent, while turnover among women jumped to 2.6 percent from 0.7 percent. Average years of service have also declined across these lenders. KDB employees stayed an average of 185 months last year, down from 199 months in 2021. Similar declines were seen at Eximbank and IBK. Industry officials said state-run banks no longer offer the same advantages they once held over commercial lenders, particularly in terms o

May 12, 2026By Lee Hyo-jin
Why Korea's state-run banks are no longer seen as dream jobs
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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.