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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

Korea seeks to expand influence in Pacific

President Yoon Suk Yeol poses with prime ministers and foreign ministers of 12 Pacific Island nations and the secretary general of the Pacific Islands Forum during a meeting held in Seoul, Oct. 27, 2022. Courtesy of Ministry of Foreign AffairsInaugural Korea-Pacific Islands Summit to take place in Seoul next weekBy Lee Hyo-jin Soft sand, palm trees and turquoise water are the first things to come to mind when most South Koreans think about Pacific Island nations. The Pacific Islands are perfect vacation spots for those who want to enjoy tropical landscapes and vibrant culture.But the island nations are more than just tourist destinations. These small-but-diverse nations are rising as key partners for Korea's foreign policy goal of becoming a global pivotal state. In recent years, Korea and the island nations have been exploring ways to build relations in many fronts including climate change, regional development and disaster response. To boost their cooperation in earnest, the Korean government will host an inaugural summit with the Pacific Island nations in Seoul on May 29 and 30, a

May 24, 2023By Lee Hyo-jin
Korea seeks to expand influence in Pacific
Foreign Affairs

ANALYSIS Korea could join G7, but experts question its advantage

G7 leaders and Ukraine's President Volodymyr Zelenskyy pose during a working session on the final day of the G7 Summit in Hiroshima, Japan, Sunday. AP-YonhapKorea's economic capabilities warrant inclusion in G7By Lee Hyo-jinThe prospect of Korea joining the Group of Seven (G7), the club of the world's seven most powerful nations, and thereby making it a G8, is becoming brighter as the Asian country continues to expand its influence on the global stage.Launched in 1975, the G7 is an informal bloc of the leading industrialized democracies ― the United States, the United Kingdom, Canada, Japan, France, Germany and Italy. Although Korea is not a member, it has participated as an observer in four of the annual G7 leaders' summits dating back to 2008.In recent years, policymakers here have debated whether Korea could get a permanent seat, and the idea seems to be gaining increasing support following President Yoon Suk Yeol's attendance at the latest G7 summit in Hiroshima, Japan.The ruling People Power Party hailed Yoon's pledge to have Korea play a bigger role in addressing global crises,

May 23, 2023By Lee Hyo-jin
[ANALYSIS] Korea could join G7, but experts question its advantage
Defense

Allies work on sharing North Korea missile warning data

From left, U.S. President Joe Biden, Japanese Prime Minister Fumio Kishida and President Yoon Suk Yeol meet ahead of a trilateral meeting on the sidelines of the G7 Summit Leaders' Meeting in Hiroshima, Japan, Sunday. AFP-YonhapBy Lee Hyo-jin South Korea, the United States and Japan are in talks over detailed plans regarding the real-time sharing of North Korean missile warning data, according to the Ministry of National Defense, Monday.The three countries have been discussing the possibility of launching a data-sharing framework for the last few months and speculation is rising that the arrangement may be announced in the near future.“The three nations have agreed to share real-time missile warning data during a trilateral summit held last November. And during the Defense Trilateral Talks (DTT) held in April, we have reviewed ways to utilize the existing Trilateral Information Sharing Arrangement (TISA) in doing so,” Defense Ministry spokesperson Jeon Ha-kyu said during a briefing, sharing the latest updates on the related talks. Although Jeon did not give an exact timel

May 22, 2023By Lee Hyo-jin
Allies work on sharing North Korea missile warning data
Foreign Affairs

Yoon vows more non-lethal aid to Ukraine in summit with Zelenskyy

President Yoon Suk Yeol attends a summit with Ukrainian President Volodymyr Zelenskyy held on the sidelines of the G7 summit in Hiroshima, Japan, Sunday. Joint Press CorpsUkrainian leader looks forward to further cooperation with S.KoreaBy Lee Hyo-jinPresident Yoon Suk Yeol vowed to swiftly provide additional non-lethal aid to war-torn Ukraine, such as mine clearing equipment, during his first summit with Ukrainian President Volodymyr Zelenskyy, Sunday. The bilateral meeting was held on the sidelines of the Group of Seven (G7) summit in Hiroshima, Japan. The summit, which came at the request of the Ukrainian leader, lasted for about 30 minutes, according to the Korean presidential office.“President Zelenskyy expressed gratitude for South Korea's timely provision of humanitarian support, such as medical aid, generators and computers used for educational purposes, and hoped for further assistance in non-lethal equipment,” Lee Do-woon, the presidential spokesperson, said in a statement distributed to reporters.“In response, President Yoon vowed efforts to swiftly provi

May 22, 2023By Lee Hyo-jin
Yoon vows more non-lethal aid to Ukraine in summit with Zelenskyy
  • PHOTOS G7 Hiroshima Summit
  • G7 condemns North Korea's nuclear ambitions
Foreign Affairs

G7 condemns North Korea's nuclear ambitions

Ukrainian President Volodymyr Zelenskyy, center rear, joins G7 world leaders at a working session on the final day of the G7 Summit in Hiroshima, Japan, Sunday. From left to right are: Japan's Prime Minister Fumio Kishida, U.S. President Joe Biden, German Chancellor Olaf Scholz, Britain's Prime Minister Rishi Sunak, European Commission President Ursula von der Leyen, Zelenskyy, European Council President Charles Michel, Gianluigi Benedetti, Italian ambassador to Japan, Canada's Prime Minister Justin Trudeau and France's President Emmanuel Macron. AP-Yonhap Fukushima wastewater discharge should meet IAEA safety standards, says G7 leadersBy Lee Hyo-jinThe leaders of seven of the world's most powerful countries condemned North Korea's nuclear ambitions and called on the reclusive regime to refrain from conducting further nuclear tests using ballistic missile technology.“We strongly condemn North Korea's unprecedented number of unlawful ballistic missile launches, each

May 21, 2023By Lee Hyo-jin
G7 condemns North Korea's nuclear ambitions
  • Yoon vows more non-lethal aid to Ukraine in summit with Zelenskyy
Politics

Navy stages anti-submarine drills

A Lynx maritime helicopter takes off from the flight deck of the ROKS Sejong the Great destroyer to participate in an anti-submarine exercise in waters off Busan, Tuesday. Courtesy of Republic of Korea Navy

May 18, 2023By Lee Hyo-jin
Navy stages anti-submarine drills
Foreign Affairs

Korea's Fukushima inspection in limbo

Tanks containing water from the damaged Fukushima Daiichi Nuclear Power Plant are seen at the power plant in Okuma town, Fukushima Prefecture, Japan, March 8. Reuters-YonhapTokyo plans to serve food from Fukushima at G7 summitBy Lee Hyo-jin Korea's upcoming inspection of the damaged Fukushima Daiichi Nuclear Power Plant is facing uncertainty with less than a week left until the dispatch of the delegation, as little progress has been made in talks with Japan on detailed plans.Seoul and Tokyo have so far agreed that the inspection team, comprised of some 20 experts, will make a four-day visit to Fukushima including the dates May 23 and 24. On Wednesday, the foreign ministries of Korea and Japan held a second meeting to discuss further details of the inspection plan. The closed-door virtual meeting between deputy-general-level officials lasted for over four hours, but the two sides failed to reach an agreement on specifically what the Korean inspectors will be allowed to examine.“Yesterday's meeting focused on technical issues such as the specific place and time of the inspection.

May 18, 2023By Lee Hyo-jin
Korea's Fukushima inspection in limbo
  • Korea to send 21-member team to Japan for Fukushima inspection
Foreign Affairs

INTERVIEW Japan's data on Fukushima wastewater should not be taken at face value: expert

Protesters, including people from Korea, hold a rally outside Tokyo Electric Power Company Holdings (TEPCO) headquarters building Tuesday in Tokyo, demanding Japan scrap its plan to start dumping radioactive wastewater into the ocean. AP-YonhapKorea encouraged to work with Pacific Island countries against Japan's planned water release By Lee Hyo-jin Japan's planned dumping of radioactive wastewater from the damaged Fukushima Daiichi Nuclear Power Plant into the Pacific Ocean is a shared concern between neighboring countries, including Korea, China and Pacific Island nations.The Pacific Island Forum (PIF), a group of 18 independent and self-governing states in the region, has been consistently urging Japan to delay the water discharge ― which is expected to begin this summer ― until Tokyo provides verified scientific evidence to back up its decision.A five-member global expert panel at the PIF has been providing independent technical advice to the member states in their dialogues with Japanese officials. One of them is Ferenc Dalnoki-Veress, a scientist-in-residence and adjunct profes

May 17, 2023By Lee Hyo-jin
[INTERVIEW] Japan's data on Fukushima wastewater should not be taken at face value: expert
Foreign Affairs

Interpreter shares insights into Yoon's US state visit

By Lee Hyo-jin Behind every high-stakes summit are interpreters. Tasked with overcoming language barriers between leaders, interpreters often become the closest witnesses to historical moments of international relations.Hong Sul-young, an adjunct professor of the Korea-English Department at the Graduate School of Interpretation and Translation (GSIT) at Hankuk University of Foreign Studies, accompanied President Yoon Suk Yeol last month on his state visit to Washington, D.C. The six-day visit from April 24 to 30 was the first trip of its kind by a Korean leader in 12 years. Hong served as the simultaneous interpreter throughout the visit and took part in major events, including the summit between Yoon and U.S. President Joe Biden; the joint conference of the two leaders; the Korea-U.S. business roundtable; the state luncheon hosted by the U.S. Vice President Kamala Harris and Secretary of State Antony Blinken and Yoon's speech at Harvard University. Interpreter Hong Sul-young poses at the White House in Washington, D.C., April 26 (local time), where the summit between President Yoon

May 17, 2023By Lee Hyo-jin
Interpreter shares insights into Yoon's US state visit
Defense

KF-21 achieves 'tentative' combat sustainability

The fifth KF-21 prototype conducts a test flight, Tuesday, from the Air Force's 3rd Flying Training Wing in Sacheon, South Gyeongsang Province. Courtesy of Defense Acquisition Program AdministrationBy Lee Hyo-jin Korea's homegrown KF-21 Boramae fighter jet has achieved “tentative” combat sustainability, laying the groundwork for mass production of the combat aircraft from next year, according to the Defense Acquisition Program Administration (DAPA), Tuesday.The state-run arms procurement agency announced that the KF-21 had passed the provisional testing scheme following hundreds of ground and test flights carried out over the last two years. Gaining tentative combat sustainability allows Korea Aerospace Industries (KAI) to begin mass production even before prototypes meet all combat requirements. The procedure, aimed at speeding up the overall manufacturing process, was also used in the development of T-50 supersonic trainer jets and light-armed helicopters (LAH).“Tentative combat sustainability has been successfully verified through various ground tests and some 20

May 16, 2023By Lee Hyo-jin
KF-21 achieves 'tentative' combat sustainability
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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.