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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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BTS concert to boost retail stocks as fans flock to Seoul

A much-anticipated comeback concert by K-pop juggernaut BTS set for this Saturday is raising expectations of a boost to retail stocks as tourists continue to flock in, market watchers said Thursday. Yu Jung-hyun, an analyst at Daishin Securities, recommended an overweight view on the retail sector in her report, saying inbound visitor numbers are likely to hit fresh record highs as global fans travel to Korea ahead of the concert. Shinsegae Department Store was named the top pick, with a target price of 410,000 won ($273). Hyundai Department Store and Lotte Shopping are also expected to benefit, with target prices set at 145,000 won and 115,000 won, respectively. "With many overseas fans expected to visit Korea for the BTS concert, expectations are rising for a tourism-driven boost in nearby hotels and department stores," Yu said. The country is also seeing an increase in foreign visitors' spending, the analyst added. Overseas card spending in Korea reached a record 20 trillion won in 2025, accounting for about 3 percent of total retail sales. The actual share is likely higher when inclu

Mar 19, 2026By Lee Hyo-jin
BTS concert to boost retail stocks as fans flock to Seoul
Banking & Finance

Delayed BOK chief nomination fuels leadership gap concerns

A delay in naming the next governor of the Bank of Korea (BOK) is adding to market uncertainty, with the incumbent's term set to expire next month and no successor yet announced, according to industry officials Thursday. Gov. Rhee Chang-yong's four-year term ends April 20, but the presidential office has yet to put forward a nominee. The post requires a parliamentary confirmation hearing, a process that typically takes three to four weeks, raising concerns about a potential leadership vacuum. The delay comes amid mounting economic uncertainty, as prolonged tensions in the Middle East push up fuel prices while inflationary pressures persist, with markets closely watching the central bank's policy direction. Observers say the government needs to move quickly, warning that a vacancy at the top could delay policy responses. "If a nominee is named within this week, we expect a new governor could be appointed in time. We are still waiting for an official announcement," a BOK official said, declining to comment further on the leadership transition. Speculation over potential candidates is buildi

Mar 19, 2026By Lee Hyo-jin
Delayed BOK chief nomination fuels leadership gap concerns
Banking & Finance

Woori Bank teams up with viral ex-civil servant YouTuber

Woori Bank has teamed up with rising YouTuber Kim Sun-tae, known as "Chungju Man," to produce promotional content as the lender looks to expand its marketing reach among younger audiences, industry officials said Wednesday. The bank recently filmed a video with Kim though a release date has not been set. Woori employees said the YouTuber was seen at the bank's headquarters in Jung District, Seoul, earlier this week. The collaboration is said to be a one-off project rather than a formal brand ambassadorship. Kim, a former civil servant, rose to prominence for his creative content while working in media relations at the Chungju City Government. His work is widely regarded as a successful case of YouTube marketing in the public sector. After resigning in February, Kim launched his own channel which quickly gained traction, surpassing 1 million subscribers within 48 hours. Operating under the slogan "Promoting everything in the world," Kim has since drawn a flood of partnership offers from companies and public institutions. Dozens of firms and state-run agencies left comments on his first vid

Mar 18, 2026By Lee Hyo-jin
Woori Bank teams up with viral ex-civil servant YouTuber
Others

Commuters turn to public transit as fuel prices soar amid Iran conflict

Lim Joo-young, an office worker in her 30s who commutes from Seongnam, Gyeonggi Province, to Seoul's Seocho District, recently switched from driving to taking the subway as fuel costs climb. "I used to drive to work, so taking the subway during the rush hour has been uncomfortable," she said. "But fuel costs have become too high, so I plan to keep taking the subway for now. I used to fill up about three times a month, but I'm trying to cut that down to once or twice." Another office worker, surnamed Park, who lives in Yangcheon District in Seoul, has also began cutting back on driving. Though her workplace is just a 20-minute drive away, she now rides a bus that takes about an hour. "I've started taking the bus twice a week. I'm trying to rely less on my car overall," Park said. "I'm also cutting back on longer drives to shopping malls on the weekend to save on fuel." Data shows that more commuters are shifting to public transportation as high fuel prices, driven by the escalating conflict in the Middle East, weigh on household budgets. According to Seoul Metro on Wednesday, average daily

Mar 18, 2026By Lee Hyo-jin
Commuters turn to public transit as fuel prices soar amid Iran conflict
Banking & Finance

Hana Bank to offer $104 mil. financing for SMEs in Jeolla region

Hana Bank said Tuesday it will provide 155.6 billion won ($104 million) in financing support for small and medium-sized enterprises (SMEs) in North and South Jeolla provinces in partnership with local authorities and state-backed guarantee agencies. The bank signed a memorandum of understanding the previous day with the Gwangju Metropolitan Government, the Gwangju Chamber of Commerce and Industry, the Korea Credit Guarantee Fund (KODIT) and the Korea Technology Finance Corporation (KOTEC) to support financing for SMEs in the Jeolla region. According to Hana officials, the initiative aims to help build sustainable growth momentum for businesses in the region while supporting the government's push for balanced national development and revitalizing the local economy. The bank will contribute a total of 4 billion won to guarantee funds run by KODIT and KOTEC, enabling up to 155.6 billion won in financing for companies in six strategic industries; artificial intelligence, biotechnology, content, defense, energy and smart manufacturing. The program will also provide a 0.6 percent guarantee fee

Mar 17, 2026By Lee Hyo-jin
Hana Bank to offer $104 mil. financing for SMEs in Jeolla region
Policy

Prolonged Iran crisis could drag Korea's growth rate toward 0%: report

The ongoing U.S.-Israel war against Iran could push Korea's economic growth rate toward zero percent if the conflict drags on for a year, a report showed Tuesday, underscoring the risks facing Asia's fourth-largest economy stemming from the Middle East crisis. According to a report by NH Financial Research Institute, if the Iran conflict persists, Korea could face rising inflation alongside contracting exports and consumption, raising the risk of stagflation. The report estimated that Korea's gross domestic product (GDP) growth this year would decline by about 0.3 percentage points if the war lasts three months, and that it could fall to the zero percent range if the conflict continues for a year. The forecast casts a shadow over the government's target of about 2 percent GDP growth for 2026, up from an estimated 1 percent in 2025. "Under a scenario of a prolonged conflict, mounting inflationary pressures and their side effects could shift the Bank of Korea's policy focus from cushioning the economic slowdown to curbing inflation, potentially leading to interest rate hikes and a prolonge

Mar 17, 2026By Lee Hyo-jin
Prolonged Iran crisis could drag Korea's growth rate toward 0%: report
Banking & Finance

Banks scramble to ensure safety of workers in Middle East

Korean banks with operations in the Middle East are rushing to secure the safety of their employees as the U.S.-Israel war against Iran spreads across the region, industry officials said Monday. No Korean financial institutions in the region have reported direct damage so far, but banks have begun relocating staff from conflict-affected areas and shifting operations to remote work, they said. Shinhan Bank's branch in Dubai currently has 11 employees, including three Korean staff members and eight locally hired workers, all working remotely. Families of the Korean employees have already returned to Korea. "The branch has remained closed and is currently conducting only non-face-to-face operations," a Shinhan Bank official said. "No employees have been injured or suffered damage, and we are checking the safety of our staff through real-time communication channels." Concerns intensified after buildings in the Dubai International Financial Centre were hit in an Iranian airstrike last Thursday, 500 meters from the building where Shinhan Bank's branch is located. Woori Bank, whose Dubai branch

Mar 16, 2026By Lee Hyo-jin
Banks scramble to ensure safety of workers in Middle East
Banking & Finance

Hana Financial to set up $340 mil. fund to back renewable energy, AI industries

Hana Financial Group will set up a 500 billion won ($340 million) infrastructure fund to invest in renewable energy and artificial intelligence (AI), the company said Monday. The fund will support major projects tied to national strategic priorities, including renewable energy and AI-related digital infrastructure. One of the key renewable energy investments will be an offshore wind power project in Wando, South Jeolla Province, one of the largest eco-friendly energy developments in Korea. Electricity generated from the wind farm is expected to supply power to AI data centers and advanced industrial facilities in the North and South Jeolla provinces. In the AI and digital infrastructure sector, the fund plans to invest in major AI hub centers in Bucheon, Gyeonggi Province, and in Incheon. The company said the infrastructure fund will go beyond simple equity investments by participating in projects at the early development stage. Through early investments, the group aims to secure high-quality assets and obtain financing arrangement rights when projects later require large-scale funding,

Mar 16, 2026By Lee Hyo-jin
Hana Financial to set up $340 mil. fund to back renewable energy, AI industries
Foreign Affairs

Operation Desert Shine: Military aircraft evacuates over 200 Koreans from Middle East

A Korean military aircraft evacuated more than 200 citizens stranded in the Middle East and brought them home from Saudi Arabia Sunday, amid the ongoing U.S.-Israeli war against Iran. Carried out jointly by the Ministry of National Defense and the Ministry of Foreign Affairs, the operation involved a KC-330 Cygnus multirole aerial tanker that landed at Seoul Air Base in Seongnam, Gyeonggi Province, around 6 p.m. It carried 204 Koreans and seven foreign nationals, including five family members of Korean citizens and two Japanese nationals. The Japanese nationals were included given the close ties between the two countries, officials said. The Cygnus military transport plane, which departed from Korea the previous day, arrived in Riyadh Saturday afternoon local time before departing for Korea hours later with passengers aboard. More than 140 of the evacuees had been in Saudi Arabia, while 24 came from Bahrain, 14 from Kuwait and 28 from Lebanon. Those staying in Kuwait traveled by bus to Riyadh under the guidance of embassy officials, while others in Lebanon caught commercial flights to th

Mar 15, 2026By Lee Hyo-jin
Operation Desert Shine: Military aircraft evacuates over 200 Koreans from Middle East
Foreign Affairs

Trump’s request to send warships to Hormuz puts pressure on Korea

Korea faces a strategic dilemma after U.S. President Donald Trump publicly called on Seoul and several other countries to send warships to the Strait of Hormuz to support a U.S.-led effort to secure the vital Gulf shipping route. The request forces Seoul to weigh its alliance with Washington and its reliance on Middle Eastern energy supplies against the risks of being drawn into an escalating conflict involving Iran, analysts said Sunday. On Saturday, Trump urged five countries, including Korea, to send warships to the region as the United States seeks to reopen the key maritime passage that Iran has effectively blockaded. "Many Countries, especially those who are affected by Iran's attempted closure of the Hormuz Strait, will be sending War Ships, in conjunction with the United States of America, to keep the Strait open and safe," Trump wrote on social media. "Hopefully China, France, Japan, South Korea, the UK, and others, that are affected by this artificial constraint, will send Ships to the area so that the Hormuz Strait will no longer be a threat by a Nation that has been totally d

Mar 15, 2026By Lee Hyo-jin
Trump’s request to send warships to Hormuz puts pressure on Korea
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