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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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Politics

Lee calls for tougher penalties as Coupang privacy breach scandal deepens

President Lee Jae Myung on Friday called for tougher penalties on companies that experience recurring personal data breaches, saying too many firms flout the rules without fear of consequences — a comment widely interpreted as alluding to high-profile lapses at e-commerce giant Coupang. He proposed imposing fines equal to 3 percent of a company's highest annual revenue over the past three years, while the Personal Information Protection Commission (PIPC) said it is seeking to introduce a punitive system to address repeated personal data leaks. Speaking at a policy briefing by the information privacy watchdog, the president said that companies must face consequences severe enough to make them fear going out of business if their negligence harms the public. "If you violate these rules, it should be a huge problem," he said. "But right now, companies seem to think, 'What are you going to do about it?' even after breaking them." Under current law, companies can be fined up to 3 percent of their total annual revenue for data breaches, calculated based on the average revenue of the past thre

Dec 12, 2025By Lee Hyo-jin
Lee calls for tougher penalties as Coupang privacy breach scandal deepens
Defense

USFK commander questions S.Korea's OPCON takeover schedule, saying readiness comes first

U.S. Forces Korea (USFK) Commander Gen. Xavier Brunson on Friday urged caution as Seoul moves to accelerate its recovery of wartime operational control (OPCON), suggesting the readiness hurdles may be steeper than the Lee Jae Myung administration envisions. Brunson, who leads the 28,500-strong USFK as well as the Korea-U.S. Combined Forces Command (CFC) and the U.N. Command, offered a cautious view as the Lee administration pushes to accelerate discussions on the OPCON transition, with the goal of completing it within Lee's five-year term that ends in 2030. "I know that, right now, President Lee says he wants to do this during his term of office. We know the start point and we know the end point, so we've got to meet the conditions in that time, but we've also got to be willing to say 'We can't get there from here,'" Brunson said during a webinar co-organized by the Korea Defense Veterans Association and the Korea-U.S. Alliance Forum. "We cannot say we're going to slide away from the conditions, just so that we can get this done in time," he added. "The conditions were written for a reas

Dec 12, 2025By Lee Hyo-jin
USFK commander questions S.Korea's OPCON takeover schedule, saying readiness comes first
North Korea

Unification minister hopes Trump’s China visit will help break inter-Korean deadlock

U.S. President Donald Trump’s anticipated visit to China in April could help thaw a prolonged stalemate in inter-Korean relations and inject new momentum into cross-border engagement, Unification Minister Chung Dong-young said Wednesday. His remarks come as the Lee Jae Myung government's outreach to Pyongyang over the past six months has drawn no response from North Korea. Officials in Seoul are hoping that Trump's willingness to reengage with North Korean leader Kim Jong-un could provide new momentum. "With President Trump's visit to China expected in April, the next four months will be a critical turning point in determining whether the situation moves toward peace or remains in the current stalemate," Chung said during a press conference in Goyang, Gyeonggi Province. "I see this as a pivotal period. Active steps are needed to help create the right conditions and shift the Korean Peninsula toward peace." Chung added that he plans to communicate closely with neighboring countries to help create a favorable environment for talks before the U.S. leader's visit to Beijing, noting that he

Dec 11, 2025By Lee Hyo-jin
Unification minister hopes Trump’s China visit will help break inter-Korean deadlock
North Korea

What options does Seoul have to bring NK to negotiating table?

South Korea’s options for coaxing North Korea back to the negotiating table appear to be narrowing after its national security adviser ruled out scaling back joint military exercises with the United States — a step some officials had floated as a possible incentive for talks. Diplomatic observers said Monday that Seoul’s remaining options include reviving an inter-Korean military agreement with Pyongyang intended to reduce tensions along the border, and bolstering its diplomatic leverage with China and Russia, the North’s traditional patrons. At a press conference the previous day, National Security Adviser Wi Sung-lac said scaling back annual South Korea-U.S. joint exercises to revive inter-Korean dialogue was not under consideration. His remarks pushed back against suggestions from senior officials, including Unification Minister Chung Dong-young, who hoped that such a move could help draw Pyongyang back to the table. "We have no specific comment on the national security adviser's remarks. However, the joint drills carry important implications not only for military affairs but

Dec 8, 2025By Lee Hyo-jin
What options does Seoul have to bring NK to negotiating table?
Foreign Affairs

South Korea alarmed by omission of NK denuclearization in US, China defense papers

The omission of North Korea's denuclearization from recent U.S. and Chinese security documents has raised concerns in Seoul, with analysts warning that the shift may reflect a growing belief among the two superpowers that Pyongyang's nuclear arsenal is now a permanent reality. Experts say the developments put South Korea's diplomacy to the test, forcing Seoul to step up efforts to keep Washington and Beijing engaged on the North Korean nuclear issue. The U.S. administration's new National Security Strategy (NSS), released Thursday (local time), makes no reference to North Korea or to Washington's long-standing commitment to the North's denuclearization. The 33-page document lays out the Trump administration’s top foreign policy and defense priorities, including deterring a conflict with China over the Taiwan Strait through strengthened military capabilities and greater cost-sharing by allies. The silence on Pyongyang stands out when compared to security documents published under the previous Joe Biden administration and during Trump's first term. The 2017 NSS issued under Trump mention

Dec 7, 2025By Lee Hyo-jin
South Korea alarmed by omission of NK denuclearization in US, China defense papers
Foreign Affairs

US Embassy in Korea launches dedicated desk to support corporate travelers after Georgia raid

The U.S. Embassy in Korea launched a dedicated support desk to assist Korean companies investing in the United States, Friday, a move that follows the detention of more than 300 Korean workers at a battery plant construction site in Georgia in September. The Korean Investment and Travel (KIT) Desk is designed to streamline visa processing and reduce entry problems for corporate travelers heading to U.S. project sites, according to Korea's Ministry of Foreign Affairs. The launch ceremony was attended by Second Vice Foreign Minister Kim Jina and Kevin Kim, the acting U.S. ambassador to Seoul. Located on the first floor of the U.S. Embassy, the KIT Desk operates through cooperation among the State Department, Commerce Department, Department of Homeland Security and U.S. Customs and Border Protection. Dedicated staff have already been assigned to support Korean companies. The desk has been operating on a trial basis since October, and has reportedly focused on providing support to major conglomerates with large investment plans in U.S., including Samsung, Hyundai, SK, LG and Hanwha. "The esta

Dec 5, 2025By Lee Hyo-jin
US Embassy in Korea launches dedicated desk to support corporate travelers after Georgia raid
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
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