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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

Escalating China-Japan tension puts Korea in diplomatic tight spot

Korea may find itself walking a tightrope between China and Japan as tensions intensify between its two closest neighbors, analysts said Wednesday, adding that Seoul is advised to pursue strategic ambiguity. While the current tensions between Tokyo and Beijing largely revolve around tourism and culture, they show signs of spilling over into trade and economic issues, according to experts, potentially creating broader challenges for Seoul. The latest flare-up was triggered by comments from Japanese Prime Minister Sanae Takaichi earlier this month, in which she said that a military emergency involving Taiwan could be construed as a threat to Japan’s survival. China quickly condemned the remarks as dangerously provocative. China escalated its response Wednesday by suspending imports of Japanese seafood, following Friday's advisory for its citizens to avoid traveling there. Tokyo cautioned its nationals in China to stay alert and avoid large crowds. Senior diplomats from both countries met in Beijing on Tuesday, but the talks ended without any signs of progress. For Korea, the ongoing spat

Nov 19, 2025By Lee Hyo-jin
Escalating China-Japan tension puts Korea in diplomatic tight spot
North Korea

N. Korea unlikely to respond to S. Korea's proposal for military talks: experts

North Korea is unlikely to respond to South Korea's proposal for military talks, analysts said Tuesday, undercutting the Lee Jae Myung administration's latest attempt at easing tensions on the Korean Peninsula. The proposal, announced Monday, is widely seen as South Korea's most assertive bid to revive inter-Korean dialogue since the president took office in June. But analysts said that Pyongyang has little incentive to treat Seoul as a serious negotiating partner, noting that the North’s policy toward the South remains unsettled. The Ministry of National Defense formally proposed that military authorities from both sides meet to establish a mutually recognized baseline for the Military Demarcation Line (MDL) to prevent unintended clashes near the border. The offer follows several incidents in recent months in which North Korean soldiers crossed over to the southern side of the Demilitarized Zone. This marks South Korea's first formal request for military talks with the North in seven years. The Ministry of Unification confirmed Tuesday that North Korea has not responded to the hotline

Nov 18, 2025By Lee Hyo-jin
N. Korea unlikely to respond to S. Korea's proposal for military talks: experts
Defense

Korea's nuclear sub plan carries wider role in countering China: US Navy chief

Korea's plan to build its first nuclear-powered submarine marks a step toward broader regional responsibilities for Seoul, particularly in countering China, U.S. Chief of Naval Operations Adm. Daryl Caudle said, Friday. The admiral described Washington's commitment to support the submarine acquisition as a historic milestone, while noting that such capabilities carry heightened strategic expectations for Seoul. "The difference between a country with a nuclear-powered submarine and a conventional power is significant. Once obtained, [Korea] will be having a submarine that truly is worldwide deployable," he said during a press conference in Seoul. The event took place during Caudle's first visit to Korea since assuming office in August, marking his first overseas trip as chief of naval operations. "With great power comes great responsibility," the admiral said, quoting a line from "Spider-Man" in the Marvel comics. “With that type of capability, I think the U.S. would expect our partnership to meet our combined goals on what the U.S. considers to be our pacing threat, which is China. To a

Nov 16, 2025By Lee Hyo-jin
Korea's nuclear sub plan carries wider role in countering China: US Navy chief
Foreign Affairs

Korea wins US support to reprocess spent nuclear fuel, enrich uranium

President Lee Jae Myung said Friday that Korea has secured U.S. support for expanding Seoul's authority over uranium enrichment and spent nuclear fuel reprocessing. He described the development as a highly significant step forward as the nation seeks to build its first nuclear-powered submarine. "Korea and the United States have agreed to move forward with the construction of nuclear-powered submarines, a long-standing goal for Korea and a strategic asset deemed essential for peace and stability on the Korean Peninsula," Lee said during a televised briefing announcing the conclusion of a joint fact sheet between the two countries. "In addition, the two sides will explore institutional changes that would allow not only U.S. commercial vessels but even U.S. Navy ships to be built in Korea," he added, calling the move a foundation for both nations to strengthen their shipbuilding industries. While Lee did not immediately clarify whether Korea's nuclear-powered submarine would be built at a Korean shipyard or in the U.S., National Security Advisor Wi Sung-lac confirmed during a follow-up bri

Nov 14, 2025By Lee Hyo-jin
Korea wins US support to reprocess spent nuclear fuel, enrich uranium
Politics

Seoul's plan to redevelop Jongmyo Shrine area triggers political pushback

Seoul Mayor Oh Se-hoon's push to build a high-rise commercial complex near Jongmyo Shrine, a UNESCO World Heritage site, has emerged as a political flash point, pitting the city government against the ruling Democratic Party of Korea (DPK). The dispute is intensifying ahead of the local elections slated for May 2026, with DPK members framing the controversy as a referendum on the mayor's governance. For the liberal party, reclaiming the capital from Oh — a member of the main opposition People Power Party (PPP) — is a key objective in the upcoming elections. The controversy deepened following a recent Supreme Court ruling that paved the way for the city to approve the Sewoon District 4 redevelopment plan, which envisions a 100-meter-tall commercial and residential complex located about 180 meters from Jongmyo. Under the plan, the height limit for nearby buildings will be raised from 55 to 101 meters. Critics warn that the redevelopment could undermine the shrine's historical integrity, while the Seoul mayor has defended the project as a necessary step to revive a dilapidated section

Nov 12, 2025By Lee Hyo-jin
Seoul's plan to redevelop Jongmyo Shrine area triggers political pushback
North Korea

South Korean civic group launches online broadcast aimed at NK

A new internet-based broadcast was launched on Tuesday to deliver uncensored information to North Koreans, as civic groups intensify efforts to connect citizens of the isolated regime with the outside world. The Korea Internet Studio (KIS), a Seoul-based internet broadcasting network, was created in response to what organizers called a growing "information vacuum" following the suspension of South Korean government-led broadcasts targeting North Korea earlier this year. "Information is the single most powerful force for change, and truth always finds a way," Jung Sung-jin, the network's inaugural chairman, said during a launch ceremony at the Korea Press Center in downtown Seoul. "Our mission is clear: to act as an information missionary linking North Korea to the wider world. Our broadcasts will serve as the oxygen that sustains and revitalizes North Korean society." Organizers said the new platform seeks to fill the gap left after the South Korean National Intelligence Service ended its decades-old propaganda transmissions to the North in July. The unprecedented decision to halt radio

Nov 11, 2025By Lee Hyo-jin
South Korean civic group launches online broadcast aimed at NK
North Korea

Unification minister's remarks send mixed signals on NK policy

A minister’s words carry particular weight — all the more so when that minister leads the agency steering North Korea policy for the Lee Jae Myung administration, which seeks rapprochement with Pyongyang. In recent months, Unification Minister Chung Dong-young's statements have often appeared uncoordinated with other security and foreign policy officials, leaving them scrambling to keep the government's message straight. On Thursday, he told reporters that scaling down South Korea-U.S. joint military exercises might be necessary to create conditions for renewed U.S.-North Korea diplomacy. On Monday, ministry spokesperson Yoon Min-ho clarified that Chung's comment reflected the broader implications of the exercises. While relevant ministries communicate closely, no specific adjustments are being discussed, the spokesperson said, suggesting that Chung's remarks had not been coordinated with defense officials in advance. This is not the first time the unification minister's comments on military drills have raised eyebrows. When Chung took office in July, he said he would recommend scalin

Nov 11, 2025By Lee Hyo-jin
Unification minister's remarks send mixed signals on NK policy
Politics

Security tightens around Cheong Wa Dae as presidential office eyes return by year end

Police are stepping up security around Cheong Wa Dae as the government prepares to move the presidential office back to the compound by year's end. According to local media reports on Sunday, Jongno Police Station is reviewing plans to restore 24-hour operations at nearby substations in preparation for the relocation. Currently, the substations are operating with reduced staff and are open only from 9 a.m. to 6 p.m. on weekdays. They are expected to return to a 24/7 schedule, with four rotating teams of five officers each to strengthen security. The Seoul Metropolitan Police Agency's units responsible for on-site and perimeter security around Cheong Wa Dae are also said to be completing preparatory work. These measures come as the Lee Jae Myung government prepares to relocate from the current presidential office in Seoul's Yongsan District to Cheong Wa Dae within the next two months. "Construction is underway with the goal of completing it by year-end," Kang Hoon-sik, the presidential chief of staff, said while speaking about the relocation during a National Assembly audit session Thursda

Nov 9, 2025By Lee Hyo-jin
Security tightens around Cheong Wa Dae as presidential office eyes return by year end
Politics

Debate heats up over extending retirement age to 65

Debate is heating up over raising Korea's statutory retirement age, as the ruling Democratic Party of Korea (DPK) moves to increase it from 60 to 65, citing the nation’s transition toward a super-aged society. Critics warn the move could reduce job opportunities for younger workers and place additional burdens on companies already facing high labor costs. The DPK stated that its special committee on raising the retirement age has been in discussions with leading labor and business organizations — including the Korean Confederation of Trade Unions (KCTU), the Federation of Korean Trade Unions (FKTU) and the Korea Enterprises Federation (KEF) — to coordinate their positions on the proposed legislation. The ruling party has pledged to pass the bill by year’s end, with gradual increases starting in 2027 bringing the age up to 65 by 2033. Raising the retirement age was a key campaign pledge of President Lee Jae Myung and remains a major national priority. If enacted, it would mark the first extension since the nation raised the mandatory retirement age from 58 to 60 in 2016. "Respectin

Nov 9, 2025By Lee Hyo-jin
Debate heats up over extending retirement age to 65
Global Community

Seoul council proposal to limit welfare programs based on nationality sparks criticism

A proposed ordinance at the Seoul Metropolitan Council has sparked controversy, as it would allow the city government to differentiate welfare and support programs for foreign residents based on nationality. According to the council, Shim Mi-kyung, a council member from the conservative People Power Party, along with 32 party colleagues, recently introduced a bill to make foreign residents eligible for certain city-funded programs only if their home countries provide similar benefits to Korean nationals. It would also require the mayor to review whether those countries provide similar support before implementing policies aimed at assisting foreign nationals. Under the proposal, foreign nationals could be excluded from city support programs if their home countries fail to provide equivalent benefits or if Koreans are deemed to face discriminatory treatment there. Exceptions would be made for refugees, those in need of humanitarian aid and foreign entrepreneurs or skilled workers who contribute to the local economy and job market. The bill, introduced in late October, has not yet been refer

Nov 6, 2025By Lee Hyo-jin
Seoul council proposal to limit welfare programs based on nationality sparks criticism
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