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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

Prosecutors search ex-President Yoon Suk Yeol's home for evidence linked to shaman

Prosecutors searched the Seoul residence of former President Yoon Suk Yeol on Wednesday as part of an ongoing corruption investigation involving a spiritual adviser. The Seoul Southern District Prosecutors’ Office sent investigators to seize evidence related to suspected lobbying and illicit financial exchanges between the former presidential couple and a shaman named Jeon Seong-bae, better known by his alias "Geonjin." The disgraced former president and his wife, Kim Keon Hee, face multiple criminal charges, including corruption and election interference, but Wednesday’s operation marked the first time investigators searched their residence. Jeon, 65, is under investigation on suspicion of receiving illegal political funds from candidates in the 2018 local elections. He was arrested in December 2024 on charges of violating the Political Funds Act, which governs how political parties and politicians can raise, manage and spend money for their activities. The probe later expanded to include Yoon and Kim following revelations linking them to the case. Jeon, who was reportedly involved i

Apr 30, 2025By Lee Hyo-jin
Prosecutors search ex-President Yoon Suk Yeol's home for evidence linked to shaman
Global Community

Next president tasked with driving real change for migrant workers' rights

Shekh al Mamun, a migrant rights activist, said Korea’s next president must move swiftly to strengthen protections for migrant workers that he believes were seriously eroded under former President Yoon Suk Yeol's administration. Shekh, a naturalized Korean from Bangladesh, has served as the deputy chief of the Migrants' Trade Union under the Korean Confederation of Trade Unions (KCTU), the country’s largest umbrella labor group, since 2013. "Things have only gotten worse under the Yoon government," Shekh said in an interview with The Korea Times to mark May 1 Labor Day. "Policies implemented in recent years haven’t been good for foreign workers nor for employers." Shekh criticized the Yoon administration for "ruining" the Employment Permit System (EPS), a government-run program that allows foreign nationals from 16 countries to enter Korea for low-wage jobs, mainly in the agriculture and manufacturing sectors. "They increased the quota to more than 160,000 workers a year without properly assessing how many jobs were actually available," he said. "With so many workers flowing in wit

Apr 29, 2025By Lee Hyo-jin
Next president tasked with driving real change for migrant workers' rights
Politics

Supreme Court to rule on Lee Jae-myung's election law violation case Thursday

The Supreme Court will deliver its ruling Thursday in an election law violation case involving liberal presidential candidate Lee Jae-myung — a decision that could determine the fate of his candidacy for the June 3 presidential election. The court announced Tuesday that the verdict will be issued at 3 p.m. The case was submitted on March 28 and reviewed by the full bench on April 22 and 24. Lee, who officially secured the presidential nomination of the liberal Democratic Party of Korea (DPK) on Sunday, was indicted in September 2022 for violating election laws by allegedly making false statements during a previous presidential campaign. The charges center on his public remarks about a high-profile land development project that happened during his time as mayor of Seongnam, Gyeonggi Province. In November 2024, the Seoul Central District Court sentenced him to one year in prison. However, the Seoul High Court overturned the ruling in March, acquitting him of all charges. Under the Public Official Election Act, individuals convicted of violating election laws and fined more than 1 million

Apr 29, 2025By Lee Hyo-jin
Supreme Court to rule on Lee Jae-myung's election law violation case Thursday
North Korea

Why did NK, Russia take months to confirm troop deployment?

North Korea and Russia have officially confirmed Pyongyang's deployment of troops to support Russia's war in Ukraine for the first time, a move analysts interpret as a calculated signal that the two countries aim to cement their military alliance beyond the ongoing war. The announcement, made just days before Russia’s May 9 Victory Day celebrations, carries both symbolic and practical implications, analysts said, including North Korea seeking to gain leverage over the fate of its captives in Ukraine. On Monday, the Korean Central News Agency (KCNA), North Korea’s state-run media, praised its troops fighting alongside Russian forces in the Kursk region, calling them "heroes" in operations to repel what it described as "Ukraine’s invasion of Russian territory." "The operations for liberating the Kursk area to repel the adventurous invasion of the Russian Federation by the Ukrainian authorities were victoriously concluded," the KCNA reported, quoting the Central Military Commission, noting that the operations were conducted under the direct order of North Korean leader Kim Jong-un. A

Apr 28, 2025By Lee Hyo-jin
Why did NK, Russia take months to confirm troop deployment?
Society

Mountain residents clash with US military over better access to village

DONGDUCHEON, Gyeonggi Province — Hwang Ok-seon, 74, a longtime resident of Geolsan Village in Dongducheon, Gyeonggi Province, suddenly experienced intense stomach pain one night a few months ago. She called for an ambulance, but it was delayed because emergency personnel had to detour around Camp Casey — a U.S. military base established in 1952 — as they lacked the necessary access permit to pass through. Often described as an inland island, the small village has long been isolated due to the presence of Camp Casey. "I was in so much pain, but it felt like forever before the ambulance arrived. Of course, they had to take this road late at night," she said, pointing to a mountain route that connects the village with the outside world. The journey from the entrance of the U.S. Army base to her home takes 40 minutes by car, winding through a narrow, hilly and bumpy road just a few meters wide. For over 70 years, there have been two ways to access the village: by a 10-kilometer mountain trail that takes 40 minutes by car or three hours on foot, or by driving through the U.S. military fa

Apr 28, 2025By Lee Hae-rin and Lee Hyo-jin
Mountain residents clash with US military over better access to village
Politics

Lee Jae-myung secures DPK's presidential nomination with ease

Lee Jae-myung, former chairman of the liberal Democratic Party of Korea (DPK), secured the party’s nomination for the June 3 presidential election, officially setting the stage for his third presidential bid, Sunday. The 61-year-old secured the nomination with 89.77 percent support in a weighted system, with 50 percent of the decision based on party members' votes and 50 percent on public opinion poll results. Lee’s commanding lead left the party's two other candidates far behind. Gyeonggi Province Gov. Kim Dong-yeon followed with 6.87 percent, while former South Gyeongsang Province Gov. Kim Kyoung-soo garnered 3.36 percent. The widely anticipated results were announced during the DPK’s fourth and final regional primary, taking place in Goyang, Gyeonggi Province. The primary covered party members in Seoul, Gyeonggi Province, Gangwon Province and Jeju Island. This marks Lee’s third presidential run, following the first time in 2017 when he was eliminated in the party’s primary, and the second one in 2022 when he was the DPK candidate but narrowly lost to then-conservative candid

Apr 27, 2025By Lee Hyo-jin
Lee Jae-myung secures DPK's presidential nomination with ease
Foreign Affairs

Korea-US tariff talks unlikely to bear fruit until June 3 presidential election: US expert

Korea’s tariff negotiations with the United States are unlikely to be concluded before the June 3 presidential election in Seoul, Victor Cha, Korea chair at the Center for Strategic and International Studies (CSIS) said Wednesday. This means the next Korean administration will face the daunting task of finalizing a trade deal before the 90-day suspension of "reciprocal" tariffs expires on July 9, he said. While Korea’s top government officials, including Finance Minister Choi Sang-mok and Trade Minister Ahn Duk-geun, headed to Washington for high-stakes tariff negotiations scheduled for Thursday (local time), Cha expressed skepticism about the possibility of a breakthrough. "We don't know how successful these negotiations will be. My understanding is that the Trump negotiating team are taking a pretty tough stand on these negotiations. So it's not clear what sort of exemptions Korea will be able to achieve," Cha said at a press conference in Seoul. The press conference took place during the 2025 Asan Plenum, an annual security forum hosted by the Asan Institute for Policy Studies. "It

Apr 23, 2025By Lee Hyo-jin
Korea-US tariff talks unlikely to bear fruit until June 3 presidential election: US expert
Foreign Affairs

US can't solely recognize NK as nuclear state: ex-UK envoy to Pyongyang

The United States cannot unilaterally recognize North Korea as a nuclear-armed state, says John Everard, former U.K. ambassador to Pyongyang. His remarks come amid growing concerns in Seoul that the Donald Trump administration may be considering such a move, potentially signaling a major shift in the U.S.' North Korea policy. "It is not for the United States to determine that North Korea is a nuclear state under the Non-Proliferation Treaty (NPT). That requires a vote, certainly by the U.N. Security Council (UNSC), and in practice, a question of that magnitude would probably go to the General Assembly," Everard said during a press conference in Seoul Wednesday. "Even if the United States wanted to recognize North Korea as a nuclear state under the NPT, we (the United Kingdom) and France would block it. I think there's no question about that." He made the remarks during a press conference held on the sidelines of the Asan Plenum 2025, an annual security forum organized by the Seoul-based think tank Asan Institute for Policy Studies. Everard served as the U.K.'s top envoy to Pyongyang from

Apr 23, 2025By Lee Hyo-jin
US can't solely recognize NK as nuclear state: ex-UK envoy to Pyongyang
Defense

With 4 spy satellites now in orbit, South Korea bolsters early warning on NK threats

South Korea successfully launched its fourth military reconnaissance satellite into orbit on Tuesday, further outpacing North Korea in an intensifying space race and significantly enhancing its satellite surveillance capabilities. According to the Ministry of National Defense, the satellite was launched aboard a SpaceX Falcon 9 rocket, which lifted off from Cape Canaveral Space Force Station in Florida at 9:48 a.m. Korea time, or 8:48 p.m. Monday local time in the U.S. The satellite was placed into orbit approximately 15 minutes after launch and successfully established communication with a ground station at 12:27 p.m. This satellite joins three others already in orbit — the first launched in December 2023, the second in April 2024 and the third in November. A fifth and final satellite is planned for launch later this year. Like the second and third, the fourth satellite is equipped with synthetic aperture radar (SAR) systems, while the first was equipped with electro-optical/infrared (EO/IR) sensors. SAR satellites can capture high-resolution imagery in all weather and lighting conditi

Apr 22, 2025By Lee Hyo-jin
With 4 spy satellites now in orbit, South Korea bolsters early warning on NK threats
Foreign Affairs

'Who let the dogs out?' Central Asian shepherds gifted to impeached leader now in zoo

Two dogs that were gifted to now-impeached former President Yoon Suk Yeol by the president of Turkmenistan have ended up at a zoo in Seoul rather than at Yoon’s private residence. According to Seoul Grand Park and the Presidential Archive on Friday, the two Central Asian shepherd dogs — also known as Turkmen Alabay — will continue to be housed at the zoo inside the park, with no plans to relocate them to Yoon’s home. Named Happy and Joy, the two dogs have been staying at the zoo since November 2024. Some had expected the furry companions to join the former president at his private residence since his departure from the presidential residence on April 8. However, the dogs’ relocation did not materialize, likely due to their big size and cost of care. A full-grown Central Asian shepherd can weigh up to 100 kilograms. Yoon and his wife Kim Keon Hee now reside in an apartment complex in Seoul’s Seocho District. The dogs were gifted by Turkmenistan President Serdar Berdimuhamedov as a symbol of friendship during the former presidential couple's state visit to the Central Asian cou

Apr 19, 2025By Lee Hyo-jin
'Who let the dogs out?' Central Asian shepherds gifted to impeached leader now in zoo
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