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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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Banking & Finance

Korea Eximbank forges strategic partnership with Uzbek ministry

The Export-Import Bank of Korea (Korea Eximbank) signed a memorandum of understanding (MOU) with Uzbekistan's investment ministry to establish a strategic partnership, the state-run lender said Tuesday. The signing ceremony took place Sunday in Samarkand, on the sidelines of the annual meeting of the Asian Development Bank. Under the agreement, the two sides will expand cooperation in industrial development and strengthen information sharing to help stabilize supply chains. The partnership will also cover investments in energy transition and green infrastructure, as well as collaboration in artificial intelligence (AI) technologies. The MOU follows an agreement reached last December between the two countries' deputy prime ministers for economic affairs. The signing ceremony was attended by Finance Minister Koo Yun-cheol and Eximbank CEO Hwang Ki-yeon. Uzbek officials in attendance included Deputy Prime Minister Khodjaev Jamshid Abdukhakimovich, Finance Minister Kuchkarov Djamshid Anvarovich and Deputy Minister of Investment, Industry and Trade Gulamov Shokhrukh Khasanovich. Eximbank said

May 5, 2026By Lee Hyo-jin
Korea Eximbank forges strategic partnership with Uzbek ministry
Banking & Finance

Parents skeptical about gov't decision to allow credit cards for minors

The government’s decision to allow the issuance of credit cards to minors aged 12 and older has drawn skepticism from parents Tuesday, with some raising concerns about early exposure to overspending and the potential for delinquency. Credit cards had previously been limited to adults aged 19 and older, but the minimum eligibility age was lowered through a revision to the enforcement decree of the Specialized Credit Finance Business Act, which took effect Monday. A woman in her 40s surnamed Kim, who lives in Seoul’s Gangseo District and has a 13-year-old daughter, expressed doubts about the move, questioning whether a credit card is necessary when her child already has a debit card. Her daughter currently uses KakaoBank's "mini card," a debit card designed for teenagers, through which she receives a monthly allowance of 100,000 won ($67). "I don't see the need for a credit card, since it's ultimately a system where I have to pay for what my daughter spends," she said. "It feels like a policy designed to benefit card companies. If misused, it could lead to delinquencies or other side e

May 5, 2026By Lee Hyo-jin
Parents skeptical about gov't decision to allow credit cards for minors
Banking & Finance

Korea Eximbank sets up $500 mil. critical minerals supply chain alliance with ADB

The Export-Import Bank of Korea (Korea Eximbank) has signed a $500 million (735 billion won) financing agreement with the Asian Development Bank (ADB) to support critical minerals projects in developing countries, the state-run lender said Monday. The agreement was signed by Korea Eximbank CEO Hwang Ki-yeon and ADB President Masato Kanda the previous day in Samarkand, Uzbekistan, on the sidelines of the ADB's annual meeting. Under the deal, Eximbank will participate in a newly established ADB-led financing platform called the Critical Minerals-to-Manufacturing Financing Partnership Facility (CMM FPF), aimed at strengthening critical minerals supply chains across Asia and the Pacific. Eximbank plans to commit up to $500 million by 2029 through its supply chain stabilization fund, using a mix of loans, guarantees and investments. ADB aims to scale up the overall financing pool to between $2 billion and $3 billion. The two institutions will jointly identify promising critical minerals projects in developing countries and provide cofinancing across the value chain, including exploration, ext

May 4, 2026By Lee Hyo-jin
Korea Eximbank sets up $500 mil. critical minerals supply chain alliance with ADB
Global Community

Korean adoptee to Sweden traces roots to founder of ancient kingdom

Jenny Dargren, 51, a Korean adoptee to Sweden, says her yearslong search for her biological family led to an unexpected discovery — a possible lineage linked to Dae Jo-yeong, founder of Korea's ancient Balhae Kingdom (698-926). Born in Korea under the name Tae Jeong-sun, Dargren was adopted to Sweden as an infant in 1975 with little known background. She had questioned her identity for most of her life and began actively searching for her origins around 2014. "I reached out to a lot of government agencies and submitted DNA to multiple databases, but to find my biological family needs their approval, so everything remained sealed," Dargren told The Korea Times in a recent interview. However, a different route led to a breakthrough. After multiple inquiries to adoption agencies and local governments, Dargren was eventually connected — through officials in Gyeongsan, North Gyeongsang Province — to members of the "Yeongsun Tae" clan. The Tae clan is centered in a small community known as "Balhae Village" in Gyeongsan, where dozens of families bearing the Tae surname, believed to be desce

May 3, 2026By Lee Hyo-jin
Korean adoptee to Sweden traces roots to founder of ancient kingdom
Banking & Finance

Woori Bank hosts US investment seminar for Korean firms

Woori Bank held an investment seminar for small and medium-sized Korean companies seeking to enter the U.S. market amid tariff uncertainty and shifting trade conditions, the bank said Thursday. The event, held at the bank's headquarters in Seoul the previous day, was co-hosted with the Ministry of SMEs and Startups and brought together a range of public and private institutions. Participants included representatives from Woori Bank's Global Investment WON Center and its U.S. subsidiary Woori America Bank, as well as the Korea SMEs and Startups Agency, the Korea Trade-Investment Promotion Agency (KOTRA), the law firm Jipyong and accounting firm Samil PwC. The program featured 11 sessions on U.S. market entry strategies and the local business environment, along with one-on-one consultations covering financing, legal and tax issues, real estate and investment procedures. U.S.-based experts also shared practical insights and on-the-ground perspectives. The seminar followed a similar event held last year on investment opportunities in Vietnam. "This seminar was designed to give companies acces

Apr 30, 2026By Lee Hyo-jin
Woori Bank hosts US investment seminar for Korean firms
Economy

BOK expected to hold rates in May after Fed pause

The Bank of Korea (BOK) is expected to hold its benchmark interest rate at 2.5 percent at its May meeting, following the U.S. Federal Reserve’s decision to keep its policy rate unchanged, local analysts said Thursday. Amid heightened economic uncertainty from the Middle East conflict and rising inflationary pressure driven by a surge in global oil prices, the central bank, like its U.S. counterpart, faces limited room for rate adjustments, they said. The Fed held its benchmark rate in the range of 3.50 percent to 3.75 percent for a third straight meeting, but a surge in dissent — with four members of the Federal Open Market Committee (FOMC) opposing the decision, the most since 1992 — brought a hawkish undercurrent to the meeting. Market watchers say the central bank is likely to follow suit with a similar “hawkish hold” in May, while keeping the door open to further tightening in the second half of the year. The BOK's Monetary Policy Board meeting on May 28 will be the first under Gov. Shin Hyun-song, who took office on April 21. "Given the Fed's trajectory, the BOK is likely t

Apr 30, 2026By Lee Hyo-jin
BOK expected to hold rates in May after Fed pause
Economy

Korea unveils 'Youth New Deal' to tackle youth unemployment

The government unveiled Wednesday a package of youth employment measures aimed at supporting around 100,000 individuals, as the youth employment rate falls to its lowest level since the COVID-19 pandemic. The plan, dubbed the "Youth New Deal," is built around four pillars — training, work experience, reintegration support and hiring incentives — alongside expanded financial assistance for job seekers, according to the Ministry of Finance and Economy. Under the training pillar, the government will partner with private companies and universities to provide programs for 19,000 young people in fields such as artificial intelligence (AI), semiconductors, finance and content creation. It will also expand hands-on work experience opportunities to 23,000 young people across the public and private sectors, including new hiring for public projects and expanded internship programs at state-run institutions. The initiative is designed to ensure such experience can be formally recognized as part of job seekers' resumes. The reintegration component targets young people who have left their jobs or

Apr 29, 2026By Lee Hyo-jin
Korea unveils 'Youth New Deal' to tackle youth unemployment
Banking & Finance

Hana Financial, POSCO International, Dunamu team up on blockchain-based cross-border payments

Hana Financial Group said Wednesday it signed a memorandum of understanding with POSCO International and Dunamu to jointly develop blockchain-based overseas remittance services. The three companies aim to combine Hana Financial's foreign exchange network, POSCO International's global trading and supply chain operations, and Dunamu's blockchain technology to test real-time cross-border transfers. The agreement signing ceremony took place at the group's headquarters in Seoul and was attended by Lee Eun-hyung, vice chairman of Hana Financial Group, POSCO International CEO Lee Kye-in and Dunamu CEO Oh Kyoung-suk. Under the partnership, the companies will collaborate on building blockchain-based remittance systems, improving global cash management and payment infrastructure, and exploring new digital finance business opportunities. Hana Financial plans to leverage its global network to develop blockchain-based remittance services aimed at reducing transfer time and costs, particularly for corporate clients. POSCO International will act as a test bed by applying the system to its global trade o

Apr 29, 2026By Lee Hyo-jin
Hana Financial, POSCO International, Dunamu team up on blockchain-based cross-border payments
Economy

K-pop stocks underperform despite market rally

Shares of major K-pop agencies are struggling to gain traction despite a strong rally in the Korean stock market, as one-off, artist-driven events seem to have limited impact on investor sentiment, analysts said Tuesday. HYBE, the agency behind K-pop supergroup BTS, closed at 248,500 won ($168) on the Korea Exchange, Tuesday, down 0.6 percent from the previous session. Over the past month, HYBE has fallen 17.76 percent. YG Entertainment and JYP Entertainment declined 3.56 percent and 2.02 percent, respectively, while SM Entertainment rose 0.98 percent, effectively remaining flat. The benchmark KOSPI has gained 21.14 percent over the same period, highlighting the sector's underperformance. Hopes for a rebound had emerged following BTS' high-profile concert in central Seoul on March 21. However, attendance fell short of expectations. HYBE had projected about 260,000 attendees, but turnout stood at around 100,000. Investor sentiment has also been weighed down by recent legal risks surrounding HYBE Chairman Bang Si-hyuk. Police are seeking to refile a request for an arrest warrant against Ban

Apr 28, 2026By Lee Hyo-jin
K-pop stocks underperform despite market rally
Banking & Finance

BOK's Q1 net profit hits all-time high on weakening won

The Bank of Korea (BOK) reported a record first-quarter profit of more than 4 trillion won ($2.71 billion), as a weaker won against the dollar boosted returns on its foreign currency assets, according to data released Tuesday. While part of the windfall will be transferred to government revenue, supporting public finances, the gains driven by high exchange rates underscore the challenge facing the central bank in curbing currency volatility. According to the BOK's monthly balance sheet, cumulative net profit for the January-March period reached 4.21 trillion won. This is more than triple the 1.39 trillion won recorded during the same period in 2025, marking the highest first-quarter figure on record. It also nearly doubled the previous high of 2.22 trillion won set in March 2020. The BOK's earnings are largely driven by interest income and capital gains on foreign currency securities, leaving them sensitive to global financial conditions, including interest rates, equity markets and exchange-rate movements. A prolonged period of won weakness against the dollar — with the Korean currency

Apr 28, 2026By Lee Hyo-jin
BOK's Q1 net profit hits all-time high on weakening won
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