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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

Will Korea finally win MSCI developed market status?

Korea's chances of joining Morgan Stanley Capital International's (MSCI) Developed Markets Index are back in focus as the benchmark KOSPI rallies toward the 9,000-point milestone, analysts said Wednesday. MSCI is scheduled to release the results of its 2026 Global Market Accessibility Review on June 18, followed by the results of its Annual Market Classification Review on June 23. Korea is seeking placement on MSCI's watch list in this year's classification review, a prerequisite for eventual reclassification as a developed market. Under MSCI's framework, markets typically remain on the watch list for at least one year before becoming eligible for an upgrade. Government officials hope a watch list designation this year will pave the way for Korea's reclassification as a developed market in 2027. The upcoming review is drawing particular attention as the Korean government has stepped up efforts to address long-standing issues that have repeatedly kept the country from being reclassified as a developed market. In its 2025 review, MSCI retained Korea in its "emerging market" category, citing

Jun 4, 2026By Lee Hyo-jin
Will Korea finally win MSCI developed market status?
Economy

KOSPI rally, chip bonuses fuel luxury spending

Park, an office worker in his 50s living in Seoul's Dongjak District, purchased a Tiffany bracelet worth more than 9 million won ($5,900) for his wife at a department store in May after cashing in gains from stock investments. "I sold part of my holdings in exchange-traded funds tracking the KOSPI and also took profits from Samsung Electronics shares," he said. "My wife was always concerned about me investing in stocks. But with the market performing well these days, she has become more supportive." Park is among a growing number of consumers capitalizing on the KOSPI rally, helping drive strong sales at department stores. According to industry data, Wednesday, the country's three major department store operators posted record first-quarter earnings this year. Lotte Department Store reported an operating profit of 191.2 billion won in the January-March period, up 47.1 percent from a year earlier. Shinsegae Department Store posted an operating profit of 141 billion won, a 30.7 percent increase on-year. Hyundai Department Store's operating profit rose 39.7 percent to 135.8 billion won. Luxu

Jun 3, 2026By Lee Hyo-jin
KOSPI rally, chip bonuses fuel luxury spending
Economy

KOSPI ends higher after recovering from sharp intraday losses

Korea's benchmark KOSPI recovered from steep intraday losses Tuesday as retail and institutional investors stepped in to offset heavy foreign selling following the market's recent rally. The benchmark index closed at 8,801.49, up 0.15 percent from the previous session, extending its streak of record-high closes to a third consecutive trading day. After rising as high as 8,933.62 shortly after the opening bell, just 66 points shy of the unprecedented 9,000 mark, KOSPI tumbled to the 8,500 level during intraday trading before rebounding late in the session. The volatile session came a day after the benchmark index closed at a record high of 8,788.38. Analysts attributed the sharp intraday swing to profit-taking by foreign investors following recent gains in semiconductor and other artificial intelligence (AI)-related shares. Retail and institutional investors, however, helped cushion the decline by scooping up stocks. According to the Korea Exchange, foreign investors sold a net 6.59 trillion won ($4.34 billion) worth of stocks, weighing on the index. Retail and institutional investors were

Jun 2, 2026By Lee Hyo-jin
KOSPI ends higher after recovering from sharp intraday losses
Economy

Consumer prices hit 26-month high, fueling rate hike expectations

Korea's consumer inflation accelerated to a 26-month high in May, driven by soaring oil prices amid the ongoing conflict in the Middle East, reinforcing market expectations that the Bank of Korea (BOK) could raise the base rate in July, market watchers said Tuesday. Consumer prices, a key gauge of inflation, rose 3.1 percent last month from a year earlier, marking the fastest pace of growth since March 2024, according to data released by the Ministry of Data and Statistics. The increase was largely driven by higher energy costs. Prices of industrial goods rose 4.2 percent from a year earlier, while petroleum product prices jumped 24.2 percent, contributing 0.92 percentage points to overall inflation. This marked the steepest increase since a 35.2 percent surge recorded in 2022, following Russia's invasion of Ukraine. The statistics ministry attributed the rise in consumer prices to a rebound in agricultural, livestock and fisheries product prices, as well as soaring oil costs linked to the conflict in the Middle East. On the same day, central bank officials held a meeting to review inflat

Jun 2, 2026By Lee Hyo-jin
Consumer prices hit 26-month high, fueling rate hike expectations
Economy

Retirees go all in on booming stock market

A 63-year-old retiree surnamed Lee in Seoul says stocks have largely replaced bank deposits in his portfolio. "Since retiring two years ago, I've kept most of my assets in brokerage accounts rather than savings accounts. I mainly invest in semiconductor stocks such as Samsung Electronics and SK hynix, along with shares of major financial groups," he said. Lee said he hopes the gains will help cover living expenses and allow him and his wife to travel abroad more often. Lee is not alone. As Korea's benchmark KOSPI index marches toward the unprecedented 9,000-point mark, a growing number of investors in their 50s and 60s are turning to equities in search of higher returns, industry data showed Monday. Data from Mirae Asset Securities showed that investors in their 50s and 60s accounted for 21.3 percent of the increase in newly opened brokerage accounts since the end of last year. The figure was the second-highest among all age groups, trailing only investors under 20, whose numbers were boosted by a surge in stock accounts opened by parents on behalf of their children. Notably, growth in new

Jun 2, 2026By Lee Hyo-jin
Retirees go all in on booming stock market
Cryptocurrency

Brokerages rush into crypto exchange investments to secure future growth

Local securities firms are ramping up investments in cryptocurrency exchanges as they seek to secure a foothold in the country's emerging digital asset market ahead of the planned introduction of a tokenized securities framework, industry officials said Friday. Korea Investment & Securities announced that it has signed a strategic investment agreement with cryptocurrency exchange Coinone, acquring a roughly 20 percent stake in the platform. The deal will make the brokerage Coinone's third-largest shareholder, following CEO Cha Myung-hoon, who holds a 30.36 percent stake, and Com2uS Holdings with 24.54 percent. The securities firm said its investment in Coinone is intended not merely as an equity acquisition but as a foundation for expanding into new digital finance businesses. "With this partnership, we have taken our first step beyond the boundaries of conventional finance toward blockchain-based digital financial services," Korea Investment & Securities CEO Kim Sung-hwan said. "We seek to position ourselves as a leading player in the global digital asset market through innovative token

May 29, 2026By Lee Hyo-jin
Brokerages rush into crypto exchange investments to secure future growth
Economy

Foreign home buying in Seoul drops sharply after land permit rules

Home purchases by foreign nationals in Seoul and surrounding areas have dropped sharply after the government designated the regions as land transaction permit zones for non-Korean buyers last August, government data showed Friday. This suggests that tighter regulations may have curbed speculative demand amid controversy over claims that overseas buyers, particularly Chinese nationals, are fueling demand for luxury housing in upscale neighborhoods. According to data released by the Ministry of Land, Infrastructure and Transport, housing transactions involving foreign buyers in Seoul and surrounding areas between September 2025 and April 2026 declined by 28 percent to 3,304 from 4,617 a year earlier. The decline was most evident in Seoul, where home purchases by foreign nationals fell 44 percent to 545 from 968. Transactions also decreased in Gyeonggi Province, down 23 percent to 2,205 from 2,857, and in Incheon, down 30 percent to 554 from 792. In the capital, the drop was particularly pronounced in affluent districts such as Gangnam, Seocho, Songpa and Yongsan districts, where purchases

May 29, 2026By Lee Hyo-jin
Foreign home buying in Seoul drops sharply after land permit rules
People & Events

9-month-old baby saves 3 lives through organ donation

A 9-month-old baby who died after contracting bacterial meningitis has saved the lives of three people through organ donation, the Korea Organ Donation Agency said Thursday. Jang So-min was declared brain-dead at Samsung Medical Center on May 1 after her condition rapidly deteriorated following days of high fever, according to the agency. With her parents' consent, the infant's liver, kidneys and small intestine were donated after her death to three patients in need of transplants. The infant first developed a fever on April 19 and was treated at a local pediatric clinic, but her symptoms persisted for several days. After visiting multiple hospitals, she was diagnosed with bacterial meningitis and later declared brain-dead. Born last July weighing 2.5 kilograms, Jang remained physically fragile throughout her short life, weighing just over 7 kilograms at 9 months old, according to her family. Her family said a cherry blossom outing this spring became their final memory together. Her mother, surnamed Park, said she initially opposed organ donation but later agreed after discussions with her

May 29, 2026By Lee Hyo-jin
9-month-old baby saves 3 lives through organ donation
Economy

BOK lifts 2026 growth forecast to 2.6% from 2% on strong chip exports

The Bank of Korea (BOK) raised its 2026 growth forecast to 2.6 percent from its previous projection of 2 percent, Thursday, citing a robust outlook for the country's semiconductor exports amid the global artificial intelligence (AI) boom. The central bank viewed continued strength in the chip sector as outweighing the economic downturn risks stemming from the prolonged conflict in the Middle East. "The sustainability of the current improvement in growth will ultimately depend on how long the current semiconductor cycle lasts," BOK Gov. Shin Hyun-song said during a press conference. "There are expectations that the semiconductor cycle would remain strong for a considerable period, as chip prices could stay elevated and semiconductors are not products whose supply can be ramped up quickly in the short term," he added. Shin also stressed that the benefits of the semiconductor boom would spread across the broader economy, dismissing concerns that gains would be concentrated solely in the chip sector. "The semiconductor sector will benefit the most directly at first, but there will also be tri

May 28, 2026By Lee Hyo-jin
BOK lifts 2026 growth forecast to 2.6% from 2% on strong chip exports
Economy

BOK's rate hike clock speeds up amid oil-fueled inflation pressure

The Bank of Korea (BOK) faces mounting pressure for further monetary tightening as a spike in global oil prices triggered by conflict in the Middle East fuels inflation and pushes up the won-dollar exchange rate. Market analysts increasingly expect the central bank to resume rate hikes in the second half of the year. BOK Gov. Shin Hyun-song is set to chair a Monetary Policy Board meeting on Thursday, his first since taking office in April, with markets closely watching for signals on his policy direction. The central bank has kept its benchmark interest rate unchanged for seven consecutive meetings after cutting it to 2.50 percent in May last year. The bank is widely expected to keep rates unchanged at the upcoming meeting, while signaling the possibility of future rate hikes. "In our base case, we expect BOK to deliver an evidently hawkish hold decision at 2.50 percent policy rate at the meeting," said Kim Jin-wook, chief economist at Citibank Korea. Surging oil prices and the won's sharp decline against the dollar are adding to inflation concerns and reinforcing expectations of monetary

May 25, 2026By Lee Hyo-jin
BOK's rate hike clock speeds up amid oil-fueled inflation pressure
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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.