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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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Society

'Revenge spending' gains momentum in Korea

Terminal 1 at Incheon International Airport is crowded with passengers, June 3. YonhapPeople flock to airports, shopping malls, theatersBy Lee Hyo-jin Lee Ha-kyung, a 29-year-old office worker in Seoul, recently booked a flight ticket to Spain scheduled for early July. Due to a recent hike in ticket prices, she had to pay about 2 million won for a round-trip flight, nearly double the price compared to that of pre-COVID-19 levels.But she said she doesn't regret it.“Considering that this is my first trip abroad in over two years and I haven't spent much money staying at home during the pandemic, it seems reasonable,” she said. “Also, I read in the news that we may see a resurgence of infections this fall, which would bring back the tough distancing measures, so I thought this summer might be the perfect chance to travel across borders.”Lee is one of many Koreans enjoying what's called “revenge spending,” which means making up for missed travel and shopping during the pandemic. Now that almost all social distancing restrictions are lifted, people are

Jun 5, 2022By Lee Hyo-jin
'Revenge spending' gains momentum in Korea
Politics

Ruling party sweeps elections to select Seoul's district heads

National Election Commission workers count votes at a ballot counting station in Eunpyeong District, Seoul, Wednesday, after the local elections ended earlier in the evening. Korea Times photo by Bae Woo-hanBy Lee Hyo-jinIn the local elections held on Wednesday, the ruling People Power Party (PPP) enjoyed a sweeping victory in the races for district office heads in Seoul, staging a successful comeback after its crushing defeat to the main opposition Democratic Party of Korea (DPK) in the 2018 local elections. According to the National Election Commission (NEC), the PPP won 17 out of the total 25 constituencies in the capital, while the DPK managed to retain control in eight districts ― Seongdong, Jungnang, Seongbuk, Gangbuk, Nowon, Eunpyeong, Geumcheon and Gwanak. The PPP's victory came after the conservative bloc had suffered a dismal loss to the liberals in the previous election.In 2018, the then-ruling DPK secured 24 out of 25 district head posts in Seoul, while the PPP managed to secure only one seat in southern Seoul's Seocho District, a region it has traditionally dominated.On

Jun 2, 2022By Lee Hyo-jin
Ruling party sweeps elections to select Seoul's district heads
  • Conservatives, liberals share spoils in educational superintendent elections
Politics

Slow pace seen at polling stations in Seoul reflects low voter turnout

A voter inserts ballots into a box at a polling station in Hongeun-dong, Seodaemun District, northwestern Seoul, Wednesday. Korea Times photo by Shim Hyun-chulBy Lee Hyo-jin The local elections on June 1 were marked by clear skies and warm weather, which apparently created a perfect environment for many people to bypass the polling stations and head outdoors for picnics instead. In fact, the weather may have been one of the culprits behind the low voter turnout.Voters began to trickle into a polling station in Hongeun-dong, Seodaemun District, northwestern Seoul, at around 10 a.m. But the pace did not pick up as the morning progressed, with only a few voters being seen. And those who showed up in the morning hours to exercise their right were mostly elderly voters.Among the total 270,219 eligible voters in the district, 59,095 ― or 21.75 percent ― already voted during the two-day early voting period which took place last weekend, according to the National Election Commission (NEC).“It was a little crowded early in the morning, but compared to the March 9 presidential election,

Jun 1, 2022By Lee Hyo-jin
Slow pace seen at polling stations in Seoul reflects low voter turnout
  • PHOTOS Voting for new mayors, governors
  • Uncontested winners: record-high 509 candidates win elections by default
  • Casting ballots in optical store: Korea's unusual polling stations
Global Community

Foreign-born voters feel invisible in local elections

Foreign residents participate in a mock poll held at a multicultural family support center in Daejeon, May 24, ahead of the June 1 local elections. YonhapOver 120,000 foreign residents eligible to vote, but lack of institutional support makes it difficult to exercise their right By Lee Hyo-jin A record-high number of over 120,000 immigrants will be eligible to vote in the local elections slated for Wednesday, reflecting the rapidly growing foreign population in Korea. While the local elections are the only chance for residents of foreign nationality to express their opinions through voting, many of them are left feeling helpless due to limited access to information about the candidates and their campaign pledges.Following a revision to the Public Official Election Act in August 2005, foreign nationals who have resided in Korea for three years or longer after obtaining permanent residency are given the right to vote in the quadrennial local elections.According to the National Election Commission (NEC), a total of 127,623 foreign residents are eligible to vote in this year's elections,

May 31, 2022By Lee Hyo-jin
Foreign-born voters feel invisible in local elections
  • Long way to go for inclusive politics in Korea
Society

Animal abandonment increases amid eased social distancing

Rescued dogs stay at The Bom Center, an animal-friendly rescue shelter run by Korean Animal Rights Advocates (KARA) in Paju, Gyeonggi Province, in this file photo taken on Sept. 9, 2021. Korea Times photo by Shim Hyun-chulBy Lee Hyo-jin While pandemic isolation and loneliness led to an increase in pet adoptions over the past two years in Korea, the trend seems to be coming to an end, as the country is seeing a surge of animal abandonment amid the eased social distancing measures.According to data from the Animal Protection Management System operated by the Animal and Plant Quarantine Agency, the number of pets abandoned in April alone surpassed 11,000, a 30 percent increase compared to the previous month.Experts view that the figure will also increase in the months to come, as animal abandonment usually soars during the summer holiday season. “This summer may be very tough for pets,” said Chae Il-taek, an official at the Korea Animal Welfare Association (KAWA). “Although there should be more accumulated data to figure out the correlation between the eased social dis

May 30, 2022By Lee Hyo-jin
Animal abandonment increases amid eased social distancing
Global Community

SPECIAL REPORT Asylum-seekers create Myanmartown from scratch in Bupyeong

A photo of ousted Myanmar leader Aung San Suu Kyi is hung on the window of a Burmese restaurant in Bupyeong District, Incheon, May 23. Korea Times photo by Choi Won-sukThis is the second in a series of articles to shed light on various ethnic groups living in Korea and have more of their voices heard. ― ED.Myanmarese who fled political turmoil in homeland, settle in Incheon's manufacturing district By Lee Hyo-jin Bupyeong, INCHEON ― Bupyeong District in Incheon, west of Seoul, may be best known for its huge underground shopping center and vibrant nightlife. But off the main street near exit 5 of Bupyeong Station are hidden several restaurants and grocery stores with colorful signs written in Burmese.In this small yet bustling “Myanmartown,” it is common to see groups of Southeast Asian people heading to restaurants looking for a taste of home.Among the restaurants is Mingalarpar, which means “hello” in Burmese, run by Win Lay, 50. “Any Myanmarese person would feel at home here in Bupyeong,” he said. “Burmese workers who live across the countr

May 27, 2022By Lee Hyo-jin
[SPECIAL REPORT] Asylum-seekers create Myanmartown from scratch in Bupyeong
Global Community

Will government establish new immigration agency?

Justice Minister Han Dong-hoon delivers his congratulatory remarks at a Together Day ceremony held at the ministry office in Gwacheon, Gyeonggi Province, May 20. Together Day was designated by the government as a day of national celebration in 2008, aiming to create a society where Korean and foreign national residents live harmoniously, respecting each other's cultures. YonhapExperts call for swift launch of immigration agencyBy Lee Hyo-jin Discussions over the possible launch of a new government agency encompassing migrant-related policies are expected to pick up speed under the Yoon Suk-yeol administration, as newly-appointed Justice Minister Han Dong-hoon vowed to carry out advanced immigration policies.Migrant experts welcomed the ministry's plan and called for the swift establishment of the immigration agency, pointing out that Korea's migration policies have already fallen behind those of other Asian countries.During his inauguration speech on May 17, Han said, “We will establish a system to carry out advanced immigration policies, including reviewing the launch of an im

May 25, 2022By Lee Hyo-jin
Will government establish new immigration agency?
Society

Ceremony held for 'No Hate Comments Day'

Students across the country participate in a seven-day campaign from May 17 to 23 to mark “No Hate Comments Day.” May 23 was designated by Sunfull Foundation as “No Hate Comments Day,” with an aim to promote civility online and posting of positive comments. Courtesy of Sunfull FoundationBy Lee Hyo-jinStudents and teachers from over 40 schools in the country have participated in a seven-day campaign from May 17 to 23 calling for the eradication of malicious comments online, according to the Sunfull Foundation.The foundation also held a virtual ceremony on Monday, marking “No Hate Comments Day.” It was the first such event to be held through a metaverse platform after the ceremony was launched on May 23, 2007, to tackle cyberbullying and online hate comments.According to the foundation, students and teachers engaged in various events over the past week to promote civility online and the posting of positive comments, by displaying banners and attending education programs. Moreover, the so-called “No Hate Comments Day Challenge,” where part

May 24, 2022By Lee Hyo-jin
Ceremony held for 'No Hate Comments Day'
Society

Labor union opposes resumption of late-night subway operations

Unionized workers stage a rally in front of Seoul Metropolitan Government office, Tuesday, in protest of the local government's plan to resume late-night subway operations. YonhapSeoul plans to extend subway operations amid taxi shortageBy Lee Hyo-jin Unionized workers of Seoul Metro are strongly protesting against the city government's plan to resume late-night subway operations, a measure proposed to tackle the worsening nighttime taxi shortage in the capital.The union that represents workers of a part of Seoul's subway system which runs lines 1 to 8, held a rally in front of the Seoul Metropolitan Government office, Tuesday, demanding the local government withdraw its plan to extend operating hours.“Late-night operations were suspended not only because of the coronavirus pandemic but also due to worsening operating losses, which nearly pushed the operator into bankruptcy. It is difficult to understand why the government has abruptly announced resumption of late-night operations, without any measures to resolve these issues,” the union said in a statement.Earlier this m

May 24, 2022By Lee Hyo-jin
Labor union opposes resumption of late-night subway operations
Foreign Affairs

Korea, US agree to establish global health security office in Seoul

President Yoon Suk-yeol, right, shakes hands with U.S President Joe Biden ahead of their summit held at the presidential office in Yongsan District, Seoul, Saturday. NewsisTwo countries set to enhance cooperation in health sectorBy Lee Hyo-jin Korea and the United States have agreed to establish a global health security (GHS) office in Seoul, which is expected to increase Korea's role in the US-led health security initiative.This decision was announced during a summit between President Yoon Suk-yeol and his U.S. counterpart, Joe Biden, on Saturday, where the two sides vowed to enhance their alliance in the health sector, a field which increasingly requires cross-country cooperation amid the ongoing COVID-19 pandemic, among other areas.Through a joint statement, the two leaders announced that the cooperation between the countries will further expand beyond responding to the coronavirus pandemic, to preventing future health crises through early prevention and detection.To move towards this goal, Korea will increase its engagement in the global health security agenda (GHSA) steering gro

May 23, 2022By Lee Hyo-jin
Korea, US agree to establish global health security office in Seoul
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