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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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Economy

SpaceX fever drives Korean investors to space-themed ETFs

Korean investors are rushing to gain exposure to SpaceX ahead of its Nasdaq debut, pouring money into space-themed exchange-traded funds (ETFs) as the Elon Musk-led company prepares for one of the largest initial public offerings (IPOs) in history, market watchers said Wednesday. The U.S. space giant is scheduled to begin trading on Nasdaq Friday (local time). SpaceX reportedly drew about $150 billion in investor demand during the book-building process, roughly double its fundraising target. If the offering proceeds as expected, it would be valued at about $1.75 trillion, potentially making it one of the 10 most valuable publicly traded companies in the United States. The anticipated listing has sparked strong interest among Korean investors across both institutional and retail channels. Mirae Asset Securities' second subscription offering for professional investors tied to the SpaceX IPO was fully subscribed in about two minutes on Monday morning, following a first round last Friday that closed in roughly one minute. The offering sought to raise a total of $500 million. Retail investors

Jun 10, 2026By Lee Hyo-jin
SpaceX fever drives Korean investors to space-themed ETFs
Banking & Finance

Woori Bank launches integrated services for Mongolian nationals

Woori Bank has partnered with telecommunications provider KT and Mongolia's Trade and Development Bank (TDB) to offer integrated financial services for Mongolian nationals preparing to move to Korea, the bank said Wednesday. The three parties signed a memorandum of understanding (MOU) at KT's headquarters in central Seoul. The partnership is designed to support Mongolian workers and students from the pre-arrival stage through their settlement in Korea, providing access to financial and mobile services. Under the agreement, TDB will introduce customers in Mongolia who plan to use Woori Bank's overseas remittance services and KT's mobile network after arriving in Korea. Those customers may receive preferential terms on selected TDB loan and deposit products before departure. After arriving in Korea, Woori Bank will help the Mongolian nationals open remittance accounts at the bank's foreigner-focused branches. It will also provide preferential exchange rates and reduced overseas remittance fees. KT, meanwhile, will offer its lowest price-tier mobile plan and allow customers to link their mo

Jun 10, 2026By Lee Hyo-jin
Woori Bank launches integrated services for Mongolian nationals
Economy

SK hynix tops job seekers' wish list amid semiconductor boom

For many young Koreans, landing a job at SK hynix has become a career goal. "After nearly three years of preparation, I finally landed a position in SK hynix's maintenance line, which had long been my dream," one user recently wrote on a Naver community for job seekers. Another user likened the hiring process to a "nationwide audition," saying it felt as though everyone was applying for a position at the chipmaker. These comments reflect the growing appeal of Korea's semiconductor industry among young Koreans. According to a report released by recruitment platform JobKorea, Tuesday, SK hynix ranked first on this year's list of the most desired employers. Samsung Electronics came in second, followed by Naver, Toss, Hyundai Motor and Amorepacific. SK hynix, which had ranked fifth in 2022, climbed to the top spot this year, while Kakao, the most preferred employer five years ago, fell to eighth place. Samsung Electronics has remained among the top two since 2021. The findings were based on a survey of 3,287 job seekers and an analysis of user data collected on JobKorea's platform. Compensation

Jun 10, 2026By Lee Hyo-jin
SK hynix tops job seekers' wish list amid semiconductor boom
Banking & Finance

Hana Financial, defense ministry join hands to boost welfare for service members

Hana Financial Group and the Ministry of National Defense launched a welfare program to support injured service members and their families, the financial group said Tuesday. The two sides signed a memorandum of understanding at the defense ministry headquarters in Seoul the previous day to operate the "Hero with Hana" program. The initiative is designed to ease the financial burden on service members, particularly those affected by service-related injuries, disabilities or challenging living conditions. Under the program, Hana Financial plans to provide about 1 billion won ($657,000) annually in welfare support to around 300 military personnel and family members. About 200 service members who are caring for children or parents with disabilities will receive assistance for medical expenses, rehabilitation and psychological treatment, as well as the purchase of assistive devices such as wheelchairs. The program will also support 60 children of service members who were killed or injured in the line of duty, as well as those stationed in remote areas, by helping cover the cost of educational

Jun 9, 2026By Lee Hyo-jin
Hana Financial, defense ministry join hands to boost welfare for service members
Economy

Lee attributes weakening won to foreign investors' portfolio rebalancing

President Lee Jae Myung on Monday attributed the won's recent weakness against the dollar to foreign investors rebalancing their portfolios after a sharp rally in local stocks, describing the Korean currency's decline as temporary. "It is true that the exchange rate is high, but I see it as temporary," Lee said during a televised press conference marking his first year in office. "Stock prices have risen so much that they are having an unusual impact on the foreign exchange market. The stock rally has become a factor pushing the exchange rate higher." Lee said foreign investors appeared to be selling off Korean stocks to rebalance their portfolios after the benchmark KOSPI's sharp rally. "Korean stocks have risen too much in a short period of time. From the perspective of foreign investment funds, the share of Korean assets in their portfolios has become too large," he said. "In the short term, this is the biggest factor. But it is unlikely to continue indefinitely. Eventually, the Korean stock market will find its balance." Lee's remarks came as the won-dollar exchange rate hovered arou

Jun 8, 2026By Lee Hyo-jin
Lee attributes weakening won to foreign investors' portfolio rebalancing
Economy

Koreans feel pinch from rising egg prices

Park, a woman in her 50s living in Seoul's Yangcheon District, said she recently scaled back her egg purchases as prices continue to climb. "When I went grocery shopping at Costco last weekend, customers were limited to two cartons per person, and there were barely any left on the shelves," she said. "I originally planned to buy two cartons for my family of five, but the prices had risen so much that I ended up buying just one." Consumers across Korea are increasingly feeling the impact of soaring egg prices and tightening supplies. Posts on online communities point to empty egg shelves at major discount stores and shortages at online grocery platforms such as Coupang and Kurly. According to data from the Korea Agro-Fisheries & Food Trade Corp., the average retail price of a 30-egg carton of large eggs stood at 7,413 won as of Saturday, up 8.6 percent from March. By region, Gyeonggi Province recorded the highest average price at 7,957 won per carton, nearing the 8,000 won ($5) mark. The sharp rise in prices has largely been attributed to outbreaks of highly pathogenic avian influenza last

Jun 8, 2026By Lee Hyo-jin
Koreans feel pinch from rising egg prices
Cryptocurrency

Bithumb's bitcoin payout blunder results in $1.6 mil. compensation

Korea's major cryptocurrency exchanges have paid out billions of won in compensation for hacking incidents and system failures in recent years, data showed Sunday, with Bithumb reimbursing users about 2.5 billion won ($1.6 million) following the erroneous distribution of 620,000 bitcoins earlier this year. According to data submitted by the Financial Supervisory Service and major cryptocurrency exchanges to Rep. Lee Hun-seung of the main opposition People Power Party, one of the costliest incidents involved Bithumb, following an accidental bitcoin crediting incident in February. An employee mistakenly entered bitcoin instead of Korean won when processing rewards for a promotional event, resulting in the erroneous distribution of about 620,000 bitcoins to 249 users. The error triggered sharp price distortions, prompting Bithumb to compensate affected users. In a separate case, Upbit paid about 790 million won in compensation following a security breach in November 2025. Upbit said Solana-based assets worth about 44.5 billion won were transferred to unauthorized external wallets within 54

Jun 7, 2026By Lee Hyo-jin
Bithumb's bitcoin payout blunder results in $1.6 mil. compensation
Economy

Expected BOK rate hike prompts concern over rising interest burdens on households, firms

Expectations of imminent interest rate hikes by the Bank of Korea (BOK) are adding to pressure on households and businesses already struggling with rising borrowing costs, analysts said Sunday. Lending rates at major banks have continued to climb as BOK Gov. Shin Hyun-song struck a hawkish tone following a Monetary Policy Board meeting on May 28, reinforcing market expectations that the central bank could begin raising rates as early as July. According to banking industry data, fixed-rate mortgage loans offered by the country's five major lenders — KB Kookmin, Shinhan, Hana, Woori and NH NongHyup — carried interest rates ranging from 4.39 percent to 7.33 percent as of Friday. The upper end of the range was up 0.33 percentage point from a month earlier, when rates stood between 4.4 percent and 7 percent. It marked the first time since October 2022 that the highest fixed mortgage rate among the five major lenders exceeded 7.3 percent. Personal credit loan rates have also moved higher. As of Friday, interest rates on personal credit loans for top-tier borrowers with one-year maturities ra

Jun 7, 2026By Lee Hyo-jin
Expected BOK rate hike prompts concern over rising interest burdens on households, firms
Cryptocurrency

Banks, fintech firms forge alliances for won-based stablecoins

Major financial institutions and fintech firms are exploring partnerships to gain an early foothold in the emerging stablecoin market ahead of the possible introduction of won-pegged stablecoins, according to industry officials Thursday. Earlier this week, officials from KB Financial Group, Shinhan Financial Group, BNK Financial Group, Industrial Bank of Korea, Toss and iM Bank held a closed-door meeting Monday to discuss developments in digital asset regulations and strategies for responding to the emerging stablecoin market. During the meeting, participants exchanged views on regulatory changes, the potential introduction of won-backed stablecoins and possible areas of cooperation. KB Financial is said to be considering entering the won-backed stablecoin market in partnership with fintech platform Toss. Under the arrangement being discussed, KB Kookmin Bank would issue the stablecoin while Toss would oversee distribution. Cryptocurrency exchange Bithumb, which currently maintains a bank account partnership with KB Kookmin Bank, is also viewed as a potential partner. In May, Hana Financi

Jun 5, 2026By Lee Hyo-jin
Banks, fintech firms forge alliances for won-based stablecoins
Politics

Ex-Minister Cho Kuk resigns as party leader after failed parliamentary comeback

Cho Kuk, leader of the minor liberal Rebuilding Korea Party (RKP), failed in his bid to return to the National Assembly in a by-election held alongside Wednesday's local elections, dealing a heavy blow to his political career. According to the National Election Commission Thursday, main opposition People Power Party (PPP) candidate Yoo Ui-dong won the by-election for the Pyeongtaek-B constituency in Gyeonggi Province with 34.83 percent of the vote. Ruling Democratic Party of Korea (DPK) candidate Kim Yong-nam came in second with 28.77 percent, while Cho came third with 27.24 percent. Cho conceded defeat at his campaign office around 3 a.m. after Yoo's victory became certain. "The top priority of this election was to realize a 'zero PPP' outcome. While meaningful progress was made nationwide, we failed to fulfill that mandate in Pyeongtaek. The responsibility lies entirely with me," Cho told reporters. Later that day, he announced his resignation as party leader, saying he would take responsibility for the election defeat. "I may be stepping aside, but I hope our party members will continue

Jun 4, 2026By Lee Hyo-jin
Ex-Minister Cho Kuk resigns as party leader after failed parliamentary comeback
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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.