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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

Trump's brief visit, rebuff of Xi cast shadow over APEC meetings

U.S. President Donald Trump's potential brief stay in Korea during the Asia-Pacific Economic Cooperation (APEC) meetings, coupled with uncertainty over a summit with Chinese President Xi Jinping, is clouding what was expected to be a major diplomatic showcase for the Lee Jae Myung administration. Amid a raging trade war between the world's two largest economies, the fate of the planned Trump-Xi summit remains unclear. Analysts say this development may diminish global attention to the APEC Economic Leaders' Meeting, set to be held in Gyeongju, North Gyeongsang Province, from Oct. 31 to Nov. 1. According to diplomatic sources, Trump is expected to arrive in Korea on Oct. 29 and stay for only one or two days. This means the U.S. leader is likely to miss the two-day main event, which will gather the leaders of APEC member economies for a meeting and a gala dinner on Oct. 31 and a media briefing the following day. Trump's potential absence from the leaders' meeting has fueled skepticism over the summit's substance. At the event, the APEC members were set to discuss sensitive trade issues amid

Oct 12, 2025By Lee Hyo-jin
Trump's brief visit, rebuff of Xi cast shadow over APEC meetings
Foreign Affairs

Police to set up special unit in Cambodia amid rising crimes against Koreans

Korean police said Sunday that they plan to launch a "Korean Desk" in Cambodia to assist victims amid growing concerns over a surge in kidnapping and torture cases involving Korean nationals in the Southeast Asian country. The move comes as diplomatic tensions between the two nations have escalated over organized crime rings involved in online scams and kidnappings targeting Korean nationals. Cooperation in responding to such crimes will be a key agenda item during a bilateral meeting between the heads of the two police agencies on the sidelines of the International Police Summit 2025, to be held in Seoul from Oct. 20 to 23, according to the National Police Agency. The meeting is expected to include the signing of a memorandum of understanding to establish a Korean Desk and dispatch Korean police officers to Cambodia. "We will mobilize all of our international cooperation capabilities to protect the lives and safety of our citizens," the agency said in a statement. A Korean Desk refers to Korean police officers stationed within a foreign law enforcement agency to handle crimes involving K

Oct 12, 2025By Lee Hyo-jin
Police to set up special unit in Cambodia amid rising crimes against Koreans
Foreign Affairs

President orders ministries to stamp out anti-China rallies, citing harm to nat'l image

President Lee Jae Myung on Thursday ordered a crackdown on anti-China rallies in Seoul, saying the demonstrations are tarnishing the nation's image with their racist hate speech. "We must completely stamp out these self-defeating acts that harm the national interest and tarnish our country's image. At a time when our country is being recognized as a leading cultural nation, we cannot and should not turn a blind eye to these uncivilized acts that damage our national dignity," Lee said during a meeting with senior aides. "No foreign citizen would want to travel or shop in a country where they are subjected to baseless hate speech," he added. The president ordered relevant ministries to swiftly devise strong measures to curb the rallies and ensure that these actions do not pose threats to foreign tourists. Lee's remarks come as demonstrations targeting the Chinese government and its citizens organized largely by far-right groups have grown more aggressive amid a recent surge in Chinese visitors following Monday's launch of visa-free entry for tour groups. These developments follow months of

Oct 2, 2025By Lee Hyo-jin
President orders ministries to stamp out anti-China rallies, citing harm to nat'l image
North Korea

Trump's 'no preconditions' offer to Kim heightens speculation of meeting during APEC

U.S. President Donald Trump's offer to meet North Korean leader Kim Jong-un "without preconditions" has fueled speculation of a possible surprise encounter on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting in South Korea later this month, according to local analysts Wednesday. Seoul officials are watching cautiously for a potential Trump-Kim meeting as the U.S. leader is widely expected to attend the APEC summit in Gyeongju, North Gyeongsang Province, from Oct. 31 to Nov. 1. A White House official said Tuesday (local time) that Trump remains open to engagement with Kim. "President Trump in his first term held three historic summits with North Korean leader Kim Jong-un that stabilized the Korean Peninsula," the official said in response to a media question about whether Trump was willing to engage with Kim without raising the denuclearization issue. "U.S. policy on North Korea has not changed. President Trump remains open to talking with Kim Jong-un without any preconditions," the official added. Since taking office in January, Trump has repeatedly

Oct 1, 2025By Lee Hyo-jin
Trump's 'no preconditions' offer to Kim heightens speculation of meeting during APEC
Foreign Affairs

Mexico eyes Korea as key partner in official development assistance

Mexico is seeking to strengthen ties with Korea as it expands flagship aid programs, reflecting the Latin American nation’s growing role as a regional donor, according to Alejandra del Moral Vela, executive director of the Mexican Agency for International Development Cooperation (AMEXCID). "For us, Korea is a very good example. In a few decades, Korea passed from being a receiver of international cooperation to one of the most important countries of cooperation," del Moral said in an interview with The Korea Times in Seoul, Monday. "Its experience of transforming from an aid recipient to a leading donor resonates with Mexico," the head of the state-run aid agency added. The interview took place on the sidelines of the Seoul ODA International Conference on Monday, underscoring Korea’s growing role in official development assistance (ODA). Del Moral said the event gave the Mexican delegation a chance to gain Seoul’s perspective as it looks to strengthen ties with the Asian nation. "Korea brings a very practical and technology-driven approach. Its emphasis on science, digital solution

Oct 1, 2025By Lee Hyo-jin
Mexico eyes Korea as key partner in official development assistance
Foreign Affairs

OECD aid chief warns against cuts to int’l relief amid rising global crises

International development faces its most serious test in decades, as leading donor nations cut back official aid budgets even as climate disasters, regional conflicts and health emergencies fuel rising demand for assistance worldwide. Carsten Staur, chair of the OECD Development Assistance Committee (DAC), urged global players to act quickly to reverse this trend. “We need to turn this around. This is not an acceptable situation, given all the problems that the world is in. It’s not easy to fill it again, or to take the downward trajectory and make it positive, but we need to do that,” Staur said during an interview with The Korea Times, in Seoul on Monday. The OECD DAC is an international forum of 33 major donor countries. It is responsible for monitoring official development assistance (ODA), setting standards for development cooperation and conducting peer reviews of member nations. Korea joined DAC in 2010. Staur, a Danish diplomat with extensive experience in multilateral diplomacy, has chaired the committee since March 2023. According to OECD data, ODA from DAC member countrie

Oct 1, 2025By Lee Hyo-jin
OECD aid chief warns against cuts to int’l relief amid rising global crises
Foreign Affairs

Global Development Partnership Week highlights ODA cooperation in tackling global challenges

Korea became a focal point for discussions on official development assistance (ODA) as government officials, experts and civil society representatives from more than 100 countries gathered over the past two weeks to discuss ODA cooperation amid pressing global challenges. The Korea International Cooperation Agency (KOICA) and the Ministry of Foreign Affairs hosted the inaugural Global Development Partnership Week in Seoul, packed with a series of conferences and gatherings running from Sept. 21 to Oct. 3. The event was designed to raise awareness, both at home and abroad, of Korea's contributions to global development cooperation by bringing together major related events under a single platform, according to KOICA, the state-run ODA agency. ODA, a key source of financing for international development, refers to government aid intended to promote the economic well-being and welfare of developing countries. Korea's support spans a wide range of areas, from climate change mitigation and energy transition to agricultural transformation, education, digital technology and knowledge-sharing. Thi

Oct 1, 2025By Lee Hyo-jin
Global Development Partnership Week highlights ODA cooperation in tackling global challenges
Foreign Affairs

Gyeongju in last-minute sprint as APEC meeting nears

GYEONGJU, North Gyeongsang Province — With about one month to go before the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting, officials in Gyeongju are racing to finish preparations as the ancient city is set to host the high-stakes international summit for the first time. The meeting is scheduled for Oct. 31 and Nov. 1, with a week of related events beginning Oct. 27, including the APEC ministerial meeting and cultural programs for leaders' spouses. On Wednesday afternoon, the Hwabaek International Convention Center (HICO) in Bomun Tourist Complex — the summit's main venue — was bustling with construction crews. Outside, signs reading "2025 APEC Korea" had been put up as crews completed work on the sidewalk at the street out front and continued to work on the building's exterior walls. Inside the lobby, which will be open to working-level government officials, massive display screens were being installed, while tables, chairs, carpets and partition walls had yet to be set up. "We have significantly upgraded the building to meet multilateral summit standards. Reno

Sep 25, 2025By Lee Hyo-jin
Gyeongju in last-minute sprint as APEC meeting nears
Foreign Affairs

Gyeongju's cultural showcase fades as APEC gala dinner shifts to hotel

The government's decision to move the gala dinner for the Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting from a newly built hall at the Gyeongju National Museum to a hotel has sparked controversy over wasted taxpayer money and a missed opportunity to promote the ancient city's cultural heritage. The APEC event is due to take place in Gyeongju, North Gyeongsang Province, from Oct. 31 to Nov. 1, with the attendance of world leaders including U.S. President Donald Trump and Chinese President Xi Jinping expected. The dinner was initially planned to be held at a newly built traditional Korean hanok-style banquet hall in the central courtyard of the museum, according to the APEC organizing committee. But on Friday, the Ministry of Foreign Affairs, which oversees the committee, said the event will instead be held in the grand ballroom of Lahan Select Gyeongju, a five-star hotel in the Bomun Tourist Complex. The ministry said the change was necessary in order to accommodate a greater number of guests, noting that this multilateral gathering represents the Lee Jae Myung admini

Sep 22, 2025By Lee Hyo-jin
Gyeongju's cultural showcase fades as APEC gala dinner shifts to hotel
Foreign Affairs

APEC draws global focus as Trump, Xi confirm attendance

The Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting to be hosted by Korea next month is drawing heightened global attention, after U.S. President Donald Trump confirmed he would attend alongside Chinese President Xi Jinping. Seoul's presidential office said Sunday it welcomes the possibility of a U.S.-China summit in Korea and expressed support for efforts to facilitate their discussions on the sidelines of APEC events. The high-profile gathering of leaders from APEC member economies is scheduled for Oct. 31 to Nov. 1 in Gyeongju, North Gyeongsang Province. Following a phone call with Xi on Friday (local time), Trump wrote on social media: “I also agreed with President Xi that we would meet at the APEC Summit in South Korea," adding, "Both look forward to meeting at APEC!" The rare phone conversation came as the world's two largest economies continue discussions amid an ongoing trade war. The upcoming APEC event would mark the first meeting between the two leaders since Trump began his second term in January, and their first in-person encounter since 2019 when they me

Sep 21, 2025By Lee Hyo-jin
APEC draws global focus as Trump, Xi confirm attendance
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