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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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North Korea

Funeral in Seoul seen as chance to revive stalled inter-Korean dialogue

A funeral for former Prime Minister Lee Hae-chan, a key figure in inter-Korean relations, is drawing attention over whether North Korea will send official condolences — a rare move that, if made, could signal a small opening after years of strained ties. Lee, who was serving as the vice chair of the Peaceful Unification Advisory Council, died Sunday during a trip to Vietnam. He was 73. His body is scheduled to arrive at Incheon International Airport early Tuesday and will be transferred to Seoul National University Hospital, where funeral services will be held. The funeral will be held over five days as a “social funeral,” jointly organized by the Peaceful Unification Advisory Council — a designation reserved for figures who made significant contributions to the state and society. For Seoul, a condolence message from Pyongyang would serve as a key diplomatic barometer. As one of the chief architects of the Sunshine Policy of rapprochement with the North, Lee was a central figure in inter-Korean relations, and a formal gesture from North Korean leader Kim Jong-un would signal a lo

Jan 26, 2026By Lee Hyo-jin
Funeral in Seoul seen as chance to revive stalled inter-Korean dialogue
Foreign Affairs

As Korea weighs joining Trump's 'Board of Peace,' experts see more gains than risks

Korea faces a diplomatic dilemma after receiving U.S. President Donald Trump’s invitation to join the “Board of Peace,” a Washington-led initiative initially framed around the Gaza conflict but expected to evolve into a broader global forum. Foreign policy experts, meanwhile, contend that Seoul has little choice but to secure a seat at the table. As of Sunday, the Korean government has not announced whether it would accept or reject the invitation, which it confirmed receiving earlier that week. Cheong Wa Dae said it was reviewing participation and would take into account the board’s contributions to peace and stability and Korea’s potential role in the forum. Several traditional U.S. allies in Europe, including France and the United Kingdom, have either declined to join or expressed reluctance. Russia has reportedly discussed participation on the condition of unfreezing Russian assets held in the U.S. in exchange for a $1 billion contribution. Amid the differing reactions from the invited states, analysts view Korea as likely to eventually accept the offer, as there is little

Jan 23, 2026By Lee Hyo-jin
As Korea weighs joining Trump's 'Board of Peace,' experts see more gains than risks
North Korea

South Korea earmarks $11.6 mil. for inter-Korean cooperation projects

The South Korean government said Thursday it has approved 17.1 billion won ($11.6 million) in funding for projects promoting inter-Korean exchanges in cultural, humanitarian and economic cooperation. Experts on North Korea said the move is significant, signaling that the Ministry of Unification has reasserted its leading role in overseeing such initiatives. The decision came at a meeting of the Inter-Korean Exchange and Cooperation Promotion Committee, chaired by Unification Minister Chung Dong-young. It was the committee’s first in-person meeting in four years. At the meeting, the committee approved funding for seven inter-Korean projects. Among them was 2.6 billion won for the inter-Korean compilation of the "Gyeoremal Dictionary," a joint project to document the Korean language as used in both Koreas. Another 845 million won was allocated for projects related to the joint excavation of the Manwoldae Palace site in the North Korean city of Gaesong, as the government seeks to revive the long-stalled cultural heritage initiative that has been suspended since 2018 amid heightened inter-

Jan 22, 2026By Lee Hyo-jin
South Korea earmarks $11.6 mil. for inter-Korean cooperation projects
North Korea

President prioritizes 'peaceful coexistence' over unification with North Korea

President Lee Jae Myung said Wednesday that the nation's ultimate goal of Korean unification is not an immediate priority, stressing that avoiding conflict and pursuing peaceful coexistence with North Korea should come first. His remarks reflect a pragmatic assessment of the current state of inter-Korean relations, with Pyongyang remaining unresponsive to the Lee administration’s repeated overtures toward rapprochement. "Unification feels like a distant prospect at the moment. We would be fortunate simply to avoid a war. Setting that aside for now, we must do everything possible to move toward a situation in which peaceful coexistence is achievable," Lee said during a New Year's press conference at Cheong Wa Dae. Lee also emphasized the importance of Washington's role in easing tensions with Pyongyang. "In that process, the role of the United States is very important," he said. "U.S. President Donald Trump is, in some ways, an unconventional figure. But I believe that quality could prove helpful in resolving issues on the Korean Peninsula." The president added that he was prepared to pl

Jan 21, 2026By Lee Hyo-jin
President prioritizes 'peaceful coexistence' over unification with North Korea
Music

Korean violinist wins US competition after car accident forces long hiatus

Violinist Lim Hyun-jae won the first prize at the 2026 Elmar Oliveira International Violin Competition (EOIVC) held in Florida on Sunday (local time), marking a major milestone in her comeback after a yearslong hiatus following a car accident. The 28-year-old Korean national clinched the top honor with a performance of Jean Sibelius Violin Concerto in D minor, accompanied by the Lynn University Philharmonia Orchestra, according to the competition's website. Video footage posted by the competition shows Lim performing in a wheelchair. As the winner, Lim received $30,000 in prize money, along with an additional $2,000 in special awards. She will also be offered performance opportunities over the next three years on international stages, including in New York, Boston and Italy. Lim moved to the United States at the age of 7 and later graduated from the Curtis Institute of Music, emerging as a promising young talent in the international classical music scene. Her career was abruptly interrupted in May 2020 when she was involved in a traffic accident while in Korea, forcing her to stop playin

Jan 21, 2026By Lee Hyo-jin
Korean violinist wins US competition after car accident forces long hiatus
Politics

Overseas Koreans Agency at odds with Incheon over potential relocation to Seoul

The Overseas Koreans Agency (OKA) is embroiled in a dispute with Incheon Metropolitan City after its chief raised the possibility of moving the agency's headquarters to Seoul, citing logistical hurdles in providing services from its current base in Incheon, located west of the capital. Following fierce backlash from Incheon officials, the agency has stepped back from formally pursuing the relocation. Officials say, however, that they may bring it up again if Incheon fails to provide sufficient logistical and institutional support. "For now, we have temporarily suspended the review of a relocation plan, but only on the condition that Incheon comes up with concrete improvement measures," an agency official told The Korea Times on Tuesday. The official added that the agency has proposed conducting a joint survey of overseas Koreans with the Incheon city government, through a credible polling firm, to assess whether they are satisfied with the agency's current location. "We understand that similar surveys had been carried out before Incheon was selected," the official said. "But now that the

Jan 20, 2026By Lee Hyo-jin
Overseas Koreans Agency at odds with Incheon over potential relocation to Seoul
Politics

Partisan standoff stalls confirmation hearing for budget minister nominee

Rival political parties were locked in a fierce standoff Monday over the parliamentary confirmation hearing for Lee Hye-hoon, the nominee to lead the newly launched Ministry of Planning and Budget, amid disputes over her qualifications and allegations of misconduct. The main opposition People Power Party (PPP) refused to hold the hearing, citing what it viewed as Lee's failure to adequately submit requested materials. The ruling Democratic Party of Korea (DPK) argued that the hearing should proceed as scheduled so that the National Assembly could properly evaluate the nominee. The Assembly's Strategy and Finance Committee chair, Rep. Lim Lee-ja of the PPP, declined to hold the confirmation hearing slated for 10 a.m. She told members of the two main parties in the committee to reach an agreement about the submission of the materials, such as records of real estate purchases. "If we are to hold a proper confirmation hearing, we need proper materials," Rep. Park Soo-young of the PPP said during the meeting. He claimed that the nominee had submitted only a small portion of the requested doc

Jan 19, 2026By Lee Hyo-jin
Partisan standoff stalls confirmation hearing for budget minister nominee
North Korea

Drone incursion probe focuses on 2 civilians who worked in Yoon administration

Accusations of South Korean drones entering North Korea have erupted into a political controversy after it emerged that two key suspects previously worked at the presidential office under former President Yoon Suk Yeol. One of the suspects, a man in his 30s who publicly claimed responsibility for flying the drones, worked as a contract staffer in the presidential spokesperson's office in 2022. The other suspect, who is under investigation for assembling the drones, is also known to have served in the same office during a similar period. A joint military-police investigative team said Sunday it plans to soon summon the man who claimed in a media interview that he sent drones across the inter-Korean border. In an interview with local broadcaster Channel A on Friday, the man said he personally flew drones toward North Korea three times since September 2025, claiming two crashed in the North while one returned safely. He presented what he described as aerial footage and other materials that showed the drone belonged to him. He said the flights were intended to measure radiation levels near a

Jan 18, 2026By Lee Hyo-jin
Drone incursion probe focuses on 2 civilians who worked in Yoon administration
Foreign Affairs

Korea opposes use of force against peaceful protests in Iran

The Korean government on Thursday voiced opposition to the use of force against peaceful demonstrations in Iran, expressing deep concern over growing instability in the region. "The Korean government is deeply concerned about the recent protests in Iran, which have resulted in numerous casualties and the worsening stability in the region," the Ministry of Foreign Affairs said in a statement released by its spokesperson, adding that it is closely monitoring developments. "The Korean government opposes any use of force against peaceful demonstrations and hopes for a peaceful resolution of the situation," the statement said. The ministry also said it is closely monitoring the safety of Korean nationals in Iran, and is taking all necessary measures to protect its citizens in case the local situation deteriorates further. The statement came amid reports that violent crackdowns by Iranian authorities on anti-government protesters have led to around 12,000 casualties, according to a human rights group. The protests, sparked by an economic crisis, have escalated into a broader anti-government mo

Jan 15, 2026By Lee Hyo-jin
Korea opposes use of force against peaceful protests in Iran
Society

Korea opens new pathway for refugee students through state scholarships

Korea has opened a new education pathway for refugee students by adding a dedicated track to its state-funded scholarship program, according to the U.N. refugee agency and education authorities. The U.N. High Commissioner for Refugees (UNHCR) Korea office, the Ministry of Education and the Ministry of Justice signed a trilateral memorandum of understanding Thursday to strengthen support for refugee students by expanding access to higher education in Korea. Under the agreement, up to five refugee students will be selected each year through a newly established refugee track within the government’s Global Korea Scholarship program for international students. The program targets refugees living in overseas camps or similar settings who demonstrate strong academic motivation and growth potential but lack access to higher education opportunities. Candidates will be recommended by the U.N. refugee agency and screened through a joint evaluation process involving Korean universities and the National Institute for International Education. The justice ministry will oversee necessary legal and adm

Jan 15, 2026By Lee Hyo-jin
Korea opens new pathway for refugee students through state scholarships
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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.