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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

Scammers impersonate financial chiefs to lure retail investors online

Impersonating prominent figures such as Bank of Korea (BOK) Gov. Shin Hyun-song on social media has emerged as a common tactic among investment scammers, who use fake profiles to lure retail investors into unauthorized investment chat rooms and pitch investment opportunities. The accounts use the officials' names, photos and career histories to appear legitimate, and promote investment-related content that could be linked to illegal investment schemes. Most recently, a fake account posing as Shin appeared on Threads, writing about economic trends and investment information. The account did not publicly recommend specific stocks but encouraged users to send messages in order to join a group chat. Users who entered the chat room were reportedly told they could receive stock recommendations and were asked to provide personal information. The BOK requested the platform operator remove the fake account, which was suspended within a few hours. "It is difficult to identify impersonation accounts in advance, but we will continue monitoring and take immediate action once they are found," a BOK off

Sep 27, 2026By Lee Hyo-jin
Scammers impersonate financial chiefs to lure retail investors online
Economy

Chip-driven growth faces headwinds from weak domestic demand, high oil prices

Korea's economy is expected to maintain strong growth in the fourth quarter on the back of robust semiconductor exports, but weak domestic demand and rising oil prices are emerging as renewed risks, analysts said Sunday. The Organization for Economic Cooperation and Development (OECD) recently raised its 2026 economic growth forecast for Korea to 3.7 percent from its June forecast of 2.6 percent, citing strong industrial production and export growth. The latest projection, announced Wednesday, represents a 1.1 percentage-point increase, the largest upward revision among the group of 20 major economies. On the same day, the Asian Development Bank also raised its growth forecast for Korea to 3.2 percent from its July projection of 2.6 percent, citing strong exports and corporate earnings amid the artificial intelligence (AI) boom. Strong export growth, driven largely by semiconductors, has been a key factor behind the positive outlook. According to the Ministry of Trade, Industry and Resources, Korea's exports reached a record $98.25 billion in August, up 68.7 percent from a year earlier. S

Sep 27, 2026By Lee Hyo-jin
Chip-driven growth faces headwinds from weak domestic demand, high oil prices
Economy

KOSPI falls on higher oil prices, global bond yields

The KOSPI edged lower Friday amid rising oil prices as renewed geopolitical tensions in the Middle East fueled concerns over inflation. The benchmark index opened 3.29 percent lower at 6,802.50 and pared some of its losses in afternoon trading before closing at 6,909.91, down 1.76 percent from the previous session. Foreign investors sold a net 2.29 trillion won ($1.70 billion) worth of shares, while institutional investors sold a net 1.22 trillion won. Retail investors were the net buyers, purchasing 1.87 trillion won worth of shares. Market bellwethers also fell. SK hynix fell 2.21 percent to close at 1.812 million won, while Samsung Electronics lost 3.35 percent to finish at 259,500 won. With little prospect of negotiations between Iran and the United States resuming in the near term, international oil prices continued to rise. West Texas Intermediate and Brent crude futures climbed above $100 per barrel, adding to concerns over inflation. Concerns over inflation were also heightened after the U.S. producer price index rose 5.4 percent in August from a year earlier, Thursday (local time

Sep 11, 2026By Lee Hyo-jin
KOSPI falls on higher oil prices, global bond yields
Economy

Korean retail investors in US stocks suffer as won strengthens

Hong, a woman in her 30s living in Seoul, is having second thoughts about her U.S. stock investments. "I increased the share of U.S. stocks in my portfolio about two months ago because the Korean market was doing poorly. But the stronger won has left my returns below expectations. I'm not sure whether to sell or just hold the stocks for the long term," she said. Hong is not alone. The won's recent strengthening against the dollar has cut returns for many Korean retail investors holding U.S. stocks, as currency losses offset stock gains. The won-dollar exchange rate closed at 1,339.2 won per dollar on Thursday, down sharply from the 1,550-won range seen two months ago after several weeks of declines. The won's strengthening can significantly reduce returns even when U.S. stocks rise. For example, a 20 percent gain on a U.S. stock would translate into a return of only about 4 percent for a Korean investor if the won-dollar exchange rate falls by around 14 percent. The recent currency move has led some investors to consider selling their U.S. stocks as the won continues to strengthen. However

Sep 11, 2026By Lee Hyo-jin
Korean retail investors in US stocks suffer as won strengthens
Banking & Finance

Korea Eximbank steps up financial diplomacy with 10 African nations

Hwang Ki-yeon, chairman and CEO of the Export-Import Bank of Korea (Korea Eximbank), held a series of high-level meetings with officials from 10 African countries in Seoul to discuss development projects and ways to support Korean companies seeking to enter the continent's growing markets, the bank said Friday. The meetings were held on the sidelines of the 8th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference, which brought together government delegations from 45 African countries. Hwang met with the vice president of Botswana and finance ministers from Tanzania, Kenya, Rwanda, Ghana, Egypt, Uganda, Zimbabwe, Lesotho and Sierra Leone on Wednesday and Thursday. The talks covered each country's development needs, potential projects financed through the Economic Development Cooperation Fund (EDCF) and ways to facilitate Korean companies' participation in development projects, according to Korea Eximbank. One of the projects discussed was the construction of an artificial intelligence (AI) and digital technology training institute in Tanzania. The project, approved in August

Sep 11, 2026By Lee Hyo-jin
Korea Eximbank steps up financial diplomacy with 10 African nations
Economy

Further rate hikes hinge on chip boom's impact on inflation: BOK

The Bank of Korea (BOK) on Thursday said the impact of the semiconductor export boom on inflation will be one of the key factors in deciding whether to raise interest rates further, keeping the door open to additional monetary tightening. In its September Monetary Policy Report, the central bank said it will need to closely monitor changes in domestic and external conditions before determining the timing and pace of additional rate hikes, given that solid growth and above-target inflation are expected to persist for some time. "From the perspective of the real economy, the key considerations are whether renewed tensions in the Middle East will push up cost pressures again, and how much and how quickly the strength of semiconductor exports will spill over into domestic demand and demand-side inflation," the report said. The report stressed the need to closely assess the lagged effects of its past rate increases, warning that weaker sectors could face heightened financial strain and calling for a tailored mix of macroeconomic policies to buffer the impact. On financial stability, the centr

Sep 10, 2026By Lee Hyo-jin
Further rate hikes hinge on chip boom's impact on inflation: BOK
Banking & Finance

Korea Eximbank taps Africa's AI, minerals, infrastructure markets

The Export-Import Bank of Korea (Korea Eximbank) has signed a memorandum of understanding (MOU) with the African Development Bank (AfDB) to expand financial cooperation in Africa, the state-run lender said Thursday. The agreement was signed in Seoul the previous day by Korea Eximbank Chairman and CEO Hwang Ki-yeon and AfDB President Sidi Ould Tah on the sidelines of the 8th Korea-Africa Economic Cooperation (KOAFEC) Ministerial Conference. The KOAFEC Ministerial Conference is jointly hosted by Korea's Ministry of Finance and Economy, Korea Eximbank and the AfDB to promote economic cooperation between Korea and Africa. The MOU covers financing cooperation in several areas, including artificial intelligence (AI), digital transformation, critical mineral supply chains, and green and renewable energy infrastructure. The two institutions agreed to work together to expand financing for projects addressing emerging global economic challenges and supporting new industries. The agreement marks a comprehensive revision of an MOU first signed by the two institutions in 2005, according to Korea Eximb

Sep 10, 2026By Lee Hyo-jin
Korea Eximbank taps Africa's AI, minerals, infrastructure markets
Economy

KOSPI reclaims 7,000 as chip gains offset oil price worries

The benchmark KOSPI reclaimed the 7,000 mark Wednesday, with chip stocks leading the rally despite lingering concerns over escalating tensions in the Middle East and rising oil prices. It marked the first close above 7,000 since July 23. The KOSPI closed at 7,051.64, up 1.4 percent from the previous session. The index opened 18.35 points, or 0.26 percent, higher at 6,972.87 and extended its gains throughout the session. Institutional investors were net buyers, purchasing 942 billion won ($705 million) worth of shares, while retail investors and foreign investors were net sellers, offloading 2.288 trillion won and 435.1 billion won, respectively. Market bellwethers showed mixed performances, with SK hynix rising 3.51 percent to close at 1,856,000 won, while Samsung Electronics was unchanged at 269,500 won. The KOSPI's advance came despite a weaker session on Wall Street overnight. The Dow, S&P 500 and Nasdaq all closed lower as renewed tensions in the Middle East and higher oil prices weighed on investor sentiment. The Philadelphia Semiconductor Index bucked the trend, rising more than 1 pe

Sep 9, 2026By Lee Hyo-jin
KOSPI reclaims 7,000 as chip gains offset oil price worries
Banking & Finance

IBK chief's leadership put to test by fraud accidents, relocation row

Industrial Bank of Korea (IBK) CEO Chang Min-young is facing a test of his leadership amid a series of fraud cases and growing tensions with the bank's labor union over a potential relocation. According to documents obtained by Rep. Shin Dong-wook of the People Power Party from the Financial Supervisory Service (FSS) and IBK on Wednesday, the state-run lender failed to immediately detect a real estate loan fraud case last year, despite receiving a police search warrant detailing the alleged scheme. The Incheon Metropolitan Police Agency sent IBK a search warrant and a request for cooperation on Sept. 24, 2025. The warrant said a real estate developer and brokers had allegedly used falsified sales contracts and down-payment records to obtain 965 million won ($722,000) in loans from the lender. IBK received the warrant but did not immediately recognize the case as financial fraud. The bank only identified it as a fraud case on Oct. 2, after the FSS asked it to confirm the police investigation. Even after reporting the fraud to the regulators, IBK extended an additional 1.9 billion won loan

Sep 9, 2026By Lee Hyo-jin
IBK chief's leadership put to test by fraud accidents, relocation row
Business

Yoon & Yang recruits former FSC official as partner lawyer

Yoon & Yang has appointed Ma Soon, a former Financial Services Commission (FSC) official, as a partner lawyer, bringing in a veteran financial policy expert with nearly two decades of government experience, the law firm said Tuesday. Ma worked across financial policy, licensing, regulation and enforcement during her career at the FSC, covering areas ranging from banking and insurance to financial consumer protection. She began her public sector career in 2007 as an administrative officer at the financial intelligence unit under the Ministry of Finance and Economy. At the ministry, Ma helped lead Korea's efforts to join the Financial Action Task Force, an international organization aimed at preventing money laundering. She worked on evaluation reports and on-site assessments ahead of Korea becoming a full member of the organization in 2009. After the FSC was established in 2008, Ma held positions in departments overseeing banking and insurance, where she worked on licensing and sanctions as well as regulatory frameworks. Her work has spanned several key financial legislations, including th

Sep 9, 2026By Lee Hyo-jin
Yoon & Yang recruits former FSC official as partner lawyer
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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.