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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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Defense

Washington could weigh shake-ups of top US commanders in S. Korea, Japan

Speculation is mounting that the United States may be considering a shake-up of its top military command structure in South Korea and Japan — a move that could reverse the long-standing strategic standing of U.S. Forces Korea (USFK) and U.S. Forces Japan (USFJ), elevating Tokyo's role while reducing Seoul's. Currently, the USFK commander holds a four-star rank, while USFJ is led by a three-star general. But with growing U.S. focus on China and the broader Indo-Pacific region, observers say Washington is weighing elevating the Japan post to four-star status while potentially downgrading the Korea command to three-star. In a recent op-ed in the Asahi Shimbun, Lt. Gen. Stephen Jost, commander of USFJ, outlined the restructuring of its forces to better align with regional challenges in the Indo-Pacific. "The security, freedom and prosperity in the Indo-Pacific face increasing challenges from adversarial nations, primarily the People’s Republic of China, and I can tell you firsthand that these threats are only intensifying," Jost wrote. "Moving from a headquarters primarily charged with a

Jul 10, 2025By Lee Hyo-jin and Bahk Eun-ji
Washington could weigh shake-ups of top US commanders in S. Korea, Japan
Foreign Affairs

KOICA recruits global supporters to promote Korea’s aid efforts

The Korea International Cooperation Agency (KOICA) has opened applications for the seventh round of its WeKO global supporters group, inviting both Korean and international participants to apply, the state-run development agency said Wednesday. WeKO, which stands for "We are KOICA," was launched in 2019 to help promote Korea’s official development assistance (ODA) efforts to a broader audience. Supporters are tasked with sharing KOICA’s development achievements through creative campaigns and storytelling, both in Korea and abroad. This year’s program runs under the slogan "Grow as you are, Cooperate as we are," which underscores a message of personal creativity, global solidarity and collective growth with developing nations. The supporters group is divided into two parts: domestic and global. Members of the domestic division will plan and execute their own public relations projects to boost awareness of KOICA's work. The global division will act as correspondents, keeping people up to date on how Korea’s ODA programs impact local communities around the globe. They will share sto

Jul 9, 2025By Lee Hyo-jin
KOICA recruits global supporters to promote Korea’s aid efforts
Foreign Affairs

UNESCO rebuff poses new hurdle for Seoul's efforts to mend ties with Tokyo

Korea’s setback at the UNESCO World Heritage Committee (WHC), where its bid to revisit Japan’s wartime industrial sites was denied, poses a challenge to President Lee Jae Myung’s push to sustain friendly relations with Tokyo. The latest development may reignite longstanding historical tensions between the neighbors, rooted in unresolved grievances from Japan's 1910-45 colonial rule over the Korean Peninsula. The presidential office expressed regret Tuesday over the outcome of the UNESCO vote and vowed to continue raising the issue on the international stage. “Our government's stance is that Japan must faithfully implement its own commitments, as well as the decisions of the World Heritage Committee, related to modern industrial facilities,” the office said in a statement. It added, “The government intends to clearly assert our position on historical issues while continuing forward-looking cooperation with Japan based on mutual trust.” The statement followed Monday’s UNESCO World Heritage Committee meeting in Paris, where members failed to reach a consensus on whether to pl

Jul 8, 2025By Lee Hyo-jin
UNESCO rebuff poses new hurdle for Seoul's efforts to mend ties with Tokyo
North Korea

South Korea to repatriate 6 North Korean residents

The government said Monday it will repatriate six North Korean residents who were rescued after drifting into South Korean waters earlier this year — a move that, if carried out, aligns with the Lee Jae Myung administration's push for reengagement with Pyongyang. Although Pyongyang has not responded to repeated notifications from Seoul about the planned repatriation, the Ministry of Unification said it will proceed with the operation on humanitarian grounds. "The government’s position is to promptly and safely repatriate all six North Korean residents rescued in the East and West Seas from a humanitarian standpoint, as they have all expressed a strong desire to return," ministry spokesperson Koo Byung-sam said during a press briefing. Koo declined to offer details on when or how the repatriation would take place, although the operation is reportedly set to occur as early as this week. The six North Koreans comprise two fishermen rescued in the West Sea in March and four individuals found in the East Sea on May 27. During investigation by South Korean authorities, all six stated they

Jul 7, 2025By Lee Hyo-jin
South Korea to repatriate 6 North Korean residents
Politics

Koreans to receive 150,000 won cash handouts starting July 21

The government will begin distributing at least 150,000 won ($110) per person starting July 21 in a bid to boost domestic spending and revive the sluggish economy. The payments, which will also be extended to some foreign residents and refugees, are a key element of the Lee Jae Myung administration's first supplementary budget. Under the plan, all Korean citizens registered as residents as of June 18 will receive the payment. Additional support will be provided based on income levels — households near poverty and single-parent families will receive up to 300,000 won, while recipients of the basic living allowance can get 400,000 won. Residents in nonmetropolitan areas outside of Seoul, Gyeonggi Province and Incheon will receive an extra 30,000 won. Those living in 84 government-designated rural communities facing severe population decline will receive an additional 50,000 won. According to the Ministry of the Interior and Safety, foreign residents are technically excluded from the cash handouts. However, several key exceptions apply. Foreign nationals are eligible if they are listed on

Jul 6, 2025By Lee Hyo-jin
Koreans to receive 150,000 won cash handouts starting July 21
Foreign Affairs

Foreign minister nominee Cho Hyun seen as best fit to lead 'pragmatic diplomacy'

Foreign Minister nominee Cho Hyun, 68, is a seasoned diplomat known for his pragmatism and deep experience in multilateral diplomacy. If confirmed in the coming weeks, Cho would become the first top diplomat under President Lee Jae Myung, tasked with spearheading Lee's vision of "pragmatic diplomacy" amid growing geopolitical challenges. Cho's nomination, announced late last month, came as little surprise within diplomatic circles. The retired diplomat had served as a key foreign policy adviser during Lee's presidential campaign. Born in Gimje, North Jeolla Province, in 1957, Cho studied political science and diplomacy at Yonsei University. He passed the 13th foreign service exam in 1979 and joined the ministry shortly after graduation. Fluent in English and French, Cho pursued graduate studies during his career at Columbia University, Sciences Po in Paris and Toulouse 1 University Capitole in France. During the Moon Jae-in administration, he served as second vice foreign minister and later as first vice minister — an uncommon career trajectory. The first vice minister oversees bilatera

Jul 3, 2025By Lee Hyo-jin
Foreign minister nominee Cho Hyun seen as best fit to lead 'pragmatic diplomacy'
Society

UN Women, Root Impact partner to promote male caregiving roles

U.N. Women announced Thursday that it has signed a memorandum of understanding (MOU) with Root Impact, a Seoul-based nonprofit organization, to collaborate on strengthening men’s caregiving capacities. Under the agreement, the two organizations will work together throughout 2025 and 2026 on a range of initiatives aimed at building care-friendly workplaces. A key focus will be bolstering caregiving capacity development programs for parents, especially fathers. According to U.N. Women’s Seoul-based Knowledge and Partnerships Centre, they will also support pilot projects that promote care-friendly work environments. This includes conducting joint research, engaging in advocacy for policy improvements and sharing promising practices and experiences with countries across the Asia-Pacific region. As an initial step, beginning this July, the two organizations will launch the “Caring Fathers, Caring Workplaces” project. The initiative will feature expert-led workshops for fathers as well as support for organizations aiming to expand a culture of care. “Through our partnership with Root

Jul 3, 2025By Lee Hyo-jin
UN Women, Root Impact partner to promote male caregiving roles
Foreign Affairs

US secretary of state cancels visit to Korea

U.S. Secretary of State Marco Rubio's planned trip to Korea next week has been canceled, according to the Ministry of Foreign Affairs on Thursday. "Korea and the United States had been in discussions regarding the possibility of Secretary Rubio visiting Seoul, but it now appears unlikely due to internal circumstances in the U.S.," ministry spokesperson Lee Jae-woong said during a briefing. "The two countries will continue consultations on high-level exchanges," he added. The presidential office confirmed the cancellation without sharing further details. The cancellation of Rubio's trip has postponed what would have marked the first visit by a senior U.S. official since President Lee Jae Myung took office on June 4. According to diplomatic sources, Rubio had initially been scheduled to visit Korea next Wednesday and Thursday, ahead of his expected attendance at the ASEAN Regional Forum (ARF) foreign ministers' meeting in Kuala Lumpur, scheduled from July 10-11. If the visit had proceeded, he had been widely anticipated to meet with National Security Adviser Wi Sung-lac. The two sides were e

Jul 3, 2025By Lee Hyo-jin
US secretary of state cancels visit to Korea
Defense

Korea announces $6 bil. K2 tank deal with Poland

The government announced Wednesday that it has reached an agreement with Poland to export an additional batch of K2 tanks valued at approximately $6 billion (8.12 trillion won), marking the first major weapons export deal under President Lee Jae Myung. According to Korea’s Defense Acquisition Program Administration (DAPA), Polish Defense Minister Władysław Kosiniak-Kamysz confirmed the conclusion of negotiations with Hyundai Rotem, the manufacturer of the K2 Black Panther tanks. While full details of the agreement will be disclosed later, sources familiar with the matter said the deal aligns with the scale that had been under negotiation, which covers 180 tanks. This makes it Korea's largest-ever arms export involving a single weapons system. An official signing ceremony involving senior officials from both countries is being planned and is expected to take place in the coming weeks. Warsaw emerged as Seoul’s largest defense customer after the two countries signed a $22 billion arms package deal in August 2022. That agreement included 180 K2 tanks, 212 K9 self-propelled howitzers,

Jul 2, 2025By Lee Hyo-jin
Korea announces $6 bil. K2 tank deal with Poland
Foreign Affairs

Uncertainty over Sado mine memorial puts Lee Jae Myung's Japan policy to test

Uncertainty over a planned memorial honoring Korean victims of forced labor at a former Japanese mine complex is emerging as an early test of President Lee Jae Myung's approach to relations with Japan. Lee, who has signaled a willingness to maintain stable ties with Tokyo despite lingering historical grievances, may face diplomatic fallout depending on how Japan addresses the dark legacy of the Sado mine site, where approximately 1,500 Koreans were forced to work during Japan's 1910–45 colonial rule. According to the Ministry of Foreign Affairs, it is unlikely the annual ceremony will be held this summer due to stalled negotiations. "Last year, the event was inevitably delayed due to the timing of the site's UNESCO inscription at the end of July. This year, it appears that holding the ceremony in the summer has again become difficult amid ongoing discussions," a ministry official said. Ministry spokesperson Lee Jae-woong declined to comment Tuesday on the details of the memorial, saying that discussions are underway with Japan. Hosting an annual memorial near the Sado mine complex site

Jul 1, 2025By Lee Hyo-jin
Uncertainty over Sado mine memorial puts Lee Jae Myung's Japan policy to test
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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.