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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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Foreign Affairs

PHOTOS Recipients of Local Diplomacy Awards

Recipients of the Foreign Minister Award pose during a ceremony at the Korea Local Diplomacy Forum in Cheongju, North Chungcheong Province, Tuesday. From left are Um Jin-young, an official with the foreign ministry's youth and local diplomacy team; Seo Bin, director-general for public diplomacy at the ministry, who presented the award; and Lee Myung-kee, an official at the Governors Association of the Republic of Korea, who accepted the award on behalf of Park Gyun-ha, deputy consul general at the Korean Consulate General in Sydney. Korea Times photo by Choi Joo-yeon

Dec 3, 2025By Lee Hyo-jin
[PHOTOS] Recipients of Local Diplomacy Awards
Foreign Affairs

Local diplomacy gains ground in Korea's central province

CHEONGJU, North Chungcheong Province — Diplomacy in Korea is no longer the domain of the central government alone. Local governments are increasingly pursuing their own initiatives, forging international partnerships to attract global professionals and boost regional economies. The trend reflects a broader decentralization of diplomatic engagement, with cities, provinces and municipalities nationwide adopting innovative approaches to "local diplomacy," leveraging regional industries, culture and human resources to boost their competitiveness internationally. Government officials and experts gathered in Cheongju, North Chungcheong Province, on Tuesday to examine how local diplomacy can revitalize regional cities through key examples from the region. The Korea Local Diplomacy Forum was co-hosted by the Hankook Ilbo and its sister paper, The Korea Times, the North Chungcheong provincial government, the North Chungcheong Provincial Council and the Korean Association of Northeast Asia Studies. Launched in 2023, the annual forum provides a platform for municipalities to share experiences, hi

Dec 2, 2025By Lee Hyo-jin
Local diplomacy gains ground in Korea's central province
Foreign Affairs

North Chungcheong Province steps up efforts to attract foreign professionals

CHEONGJU, North Chungcheong Province — North Chungcheong Province is positioning itself as an emerging hub of Korea’s global outreach, stepping up efforts to attract foreign residents and seasoned specialists, Gov. Kim Young-hwan said Tuesday. In an interview with The Korea Times on the sidelines of the Korea Local Diplomacy Forum in Cheongju, Kim said that the centrally located province aims to build a global network through deeper cooperation with cities abroad. "Our province lies at the heart of Korea, which is historically known as Jungwon (central region), and has long served as a key axis of connectivity and expansion. With Cheongju International Airport rapidly strengthening links to major cities across Asia, the province is ideally positioned to function as a forward base for Korea's local diplomacy," the governor said. The forum — co-hosted by the North Chungcheong provincial government, The Hankook Ilbo and its sister paper, The Korea Times — brought together government officials and experts to examine how municipal diplomacy might help revive regional cities, a strate

Dec 2, 2025By Lee Hyo-jin
North Chungcheong Province steps up efforts to attract foreign professionals
Politics

PPP's internal turmoil deepens as martial law anniversary approaches

The main opposition People Power Party (PPP) is facing deepening internal turmoil, as lawmakers remain sharply divided over how the party should mark the first anniversary of the martial law fiasco. Party leader Rep. Jang Dong-hyeok is under growing pressure to issue a public apology for the political upheaval triggered by former President Yoon Suk Yeol, who entered office as the PPP-backed candidate. Yoon abruptly declared martial law on Dec. 3 last year and was impeached in April over the incident. One year on, the conservative party continues to grapple with Yoon’s tarnished legacy, its approval ratings still far below those of the ruling Democratic Party of Korea. Within the PPP, calls are mounting for a decisive break from the former president as leaders seek to improve the party’s prospects ahead of next June’s local elections. "We failed to prevent the (former) president's misjudgment. We neither checked nor restrained the power that we ourselves created," Yang Hyang-ja, a member of the PPP’s Supreme Council, said Monday during a meeting. "We must ask ourselves whether we

Dec 1, 2025By Lee Hyo-jin
PPP's internal turmoil deepens as martial law anniversary approaches
Foreign Affairs

Korea-US joint fact sheet does not require Assembly ratification: FM

Foreign Minister Cho Hyun said Friday that the Korea-U.S. joint fact sheet outlining trade and security commitments following the recent summit between Presidents Lee Jae Myung and Donald Trump does not require National Assembly ratification, as it is structured as a memorandum of understanding (MOU) rather than a legally binding treaty. "From the beginning of discussions, the United States preferred this to take the form of an MOU rather than a treaty or a binding obligation, and it has done the same with other countries. The MOU clearly states that it does not contain any mandatory provisions," Cho said during a session of the National Assembly’s Foreign Affairs and Unification Committee, when asked about the fact sheet. "Therefore, we have decided that the MOU itself does not require parliamentary ratification. However, if it imposes burden on the public, we will seek National Assembly approval through a separate bill." On the enforceability of the fact sheet, Cho said, "While we can suspend investment pledges midway, the U.S. position is that tariffs would be raised again in such

Nov 28, 2025By Lee Hyo-jin
Korea-US joint fact sheet does not require Assembly ratification: FM
Foreign Affairs

All options open on NK peace plan: acting US ambassador to Seoul

U.S. options for a peace plan on North Korea remain open, acting U.S. Ambassador to South Korea Kevin Kim said Friday, casting President Donald Trump as a “peacemaker” willing to pursue unconventional approaches toward Pyongyang. "Given my experience working for the president on North Korea, one must always talk to the fact that he is the peacemaker himself. He can take approaches that have not been tried before," Kim said at a forum hosted by the Korea-U.S. Alliance Foundation, when asked whether the Trump administration is considering a peace initiative for North Korea similar to those pursued in the Middle East. "Our job as a staff working for him is to increase the number of options for the president to choose from. He is the deciding one," he added. "I never want to say 'never' about any possible options moving forward ... On the Korean Peninsula, whichever path that's taken will be based on ensuring the security of the Korean Peninsula.” Kim, who took office in October, previously handled working-level negotiations on nuclear talks with North Korea during Trump's first term.

Nov 28, 2025By Lee Hyo-jin
All options open on NK peace plan: acting US ambassador to Seoul
Foreign Affairs

Korea imposes sweeping sanctions on Southeast Asian crime syndicates

The Korean government on Thursday imposed sanctions on individuals and companies across Southeast Asia tied to regional crime rings, in response to a surge in crimes targeting Korean nationals. The move marks the largest sanctions package the government has ever issued. The sweeping measures target 15 individuals and 132 entities believed to have been directly or indirectly involved in online scams, luring schemes and the confinement of Korean nationals in Cambodia. According to the Ministry of Foreign Affairs, the sanctions include the Cambodia-based Prince Group and its chairman Chen Zhi, who oversaw the operation of large-scale scam compounds such as the Taizi and Mango complexes, where many Koreans were detained. Sanctions were also imposed on the head of a scam syndicate active in Cambodia's Bohai region and a gang member identified as a key suspect in the assault, confinement and death of a Korean university student in August. The Prince Group was blacklisted by the United States and the United Kingdom last month, while the China-based Huiyuan Group — also included in Korea's sanc

Nov 27, 2025By Lee Hyo-jin
Korea imposes sweeping sanctions on Southeast Asian crime syndicates
Politics

Lawmakers push to end detention of kids at immigration facilities

Korean lawmakers on Thursday proposed amendments to the nation’s immigration laws that would fundamentally change how foreign minors are treated, barring their detention in immigration facilities. The legislation seeks to end the Ministry of Justice’s long-standing practice of holding minors — often those facing deportation — in facilities officially designated as “protection centers.” For years, activists have argued that the policy violates both domestic and international human rights standards, prompting lawmakers to take action. The bill was introduced by 20 lawmakers, including Rep. Seo Young-kyo of the ruling Democratic Party of Korea and Rep. Han Chang-min of the minor Social Democratic Party. It would revise the Immigration Control Act to explicitly prohibit the detention of foreign nationals under the age of 19. According to justice ministry data submitted to Han's office, 886 foreign children have been held in government-run detention facilities over the past five and a half years. The facilities — officially classified as "immigration protection centers" — hous

Nov 27, 2025By Lee Hyo-jin
Lawmakers push to end detention of kids at immigration facilities
Defense

Free sub transfer could boost Korea’s chances of winning Poland naval upgrade project

Korea plans to transfer its first submarine, the 1,200-ton ROKS Jang Bogo, to Poland at no cost once it is retired later this year, military sources said Wednesday. The move is part of Seoul’s efforts to support domestic defense firms competing for Poland’s next-generation submarine program, known as the Orka Project. Officials in Seoul hope the free transfer of the Jang Bogo submarine could give Korean firms a competitive edge by demonstrating operational expertise and long-term commitment to Poland’s naval upgrade program. The submarine, Korea’s first, was built at Germany’s HDW shipyard in 1991. The Korean Navy acquired the sub the following year and commissioned it in 1994, marking a milestone in the country’s indigenous submarine capabilities. For more than three decades, the vessel has played a central role in Korea’s undersea defense operations. Set to retire at year’s end, it completed its final two-hour voyage from Jinhae Naval Base on Nov. 19. "The ROKS Jang Bogo is planned to be utilized effectively for defense exports and cooperation after its retirement," a N

Nov 26, 2025By Lee Hyo-jin
Free sub transfer could boost Korea’s chances of winning Poland naval upgrade project
Defense

ROK Army women paratroopers win top honor at world championship

Korea’s Special Warfare Command women’s parachute team drew global attention by clinching first place at the World Military Parachuting Championship, the Army said. The annual championship hosted by the International Military Sports Council was held from Nov. 13 to 23 at Umm Al-Shokhot Airfield in Doha, Qatar. It brought together participants from 28 countries and featured three main categories: formation skydiving, style competitions and accuracy landing. According to the Army on Tuesday, the Korean women’s team secured gold in the overall rankings, followed by China and France in second and third place. The team included Staff Sgts. Lee Ji-seon, Lee Jin-young, Park Yi-seul, Lee Hyun-ji and Joo Yoon-seok, as well as Sgt. Kim Kyung-seo. They performed exceptionally well in formation skydiving, an event in which four jumpers exit the aircraft from approximately 11,000 feet and complete a 35-second freefall while attempting to form five preselected formations. A fifth team member, the camera flyer, descends alongside them to record the sequence for the judges. In this category, the K

Nov 26, 2025By Lee Hyo-jin
ROK Army women paratroopers win top honor at world championship
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