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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

S. Korea expected to play bigger role in operation of US nuclear assets

President Yoon Suk Yeol greets Korean nationals upon his arrival at Blair House in Washington, D.C., Monday (local time). Yoon is scheduled to hold a summit with U.S. President Joe Biden at the White House on Wednesday. Joint Press CorpsTwo nations likely to agree on joint planning, operation of nuclear weaponsBy Lee Hyo-jin Seoul and Washington are likely to agree on carrying out joint planning and joint execution of U.S. nuclear assets, according to defense analysts, Tuesday, which would mark a major upgrade of the U.S. extended deterrence provided to its ally.According to both governments, President Yoon Suk Yeol and U.S. President Joe Biden will release an additional joint statement on strengthened extended deterrence after their summit at the White House on Wednesday (local time).Regarding the document, U.S. National Security Adviser Jake Sullivan said it will send a “very clear and demonstrable signal of the United States' credibility when it comes to its extended deterrence commitments to the Republic of Korea and to the people of Korea.” Republic of Korea is South

Apr 25, 2023By Lee Hyo-jin
S. Korea expected to play bigger role in operation of US nuclear assets
  • 7 US firms to invest $4.4 bil. in Korea
Foreign Affairs

Biden urged to offer bold strategy against North Korean threats

A U.S. honor guard holds up Korean and U.S. national flags in front of the White House in Washington, D.C., Sunday (local time), a day before President Yoon Suk Yeol's six-day state visit to the United States. While in the U.S., Yoon will hold a summit with U.S. President Joe Biden and participate in various events to celebrate the 70th anniversary of the South Korea-U.S. alliance. YonhapBy Lee Hyo-jin Gaining clear reassurance from the U.S. on extended deterrence against North Korea's nuclear threats should be one of the top priorities for President Yoon Suk Yeol in his upcoming summit with U.S. President Joe Biden, according to overseas analysts, Monday.Earlier in the day, Yoon departed for Washington for a six-day state visit marking the 70th anniversary of the alliance between the two nations. Yoon and Biden are scheduled to hold a summit at the White House on Wednesday (local time).“President Yoon's mission is clear: to convince the Biden administration that trying to tackle the North Korean nuclear threat is worth the political risk and usage of little political capital b

Apr 24, 2023By Lee Hyo-jin
Biden urged to offer bold strategy against North Korean threats
  • INTERVIEW Yoon-Biden summit offers chance for Korea to become 'global pivotal state'
  • Yoon says he cannot accept notion Japan 'must kneel because of our history 100 years ago'
Foreign Affairs

INTERVIEW Yoon-Biden summit offers chance for Korea to become 'global pivotal state'

Oh Joon, then South Korean ambassador to the United Nations, speaks during a Security Council meeting at U.N. headquarters in New York in this 2016 file photo. Korea Times fileYoon gov't advised to deal more carefully with diplomatic protocolBy Lee Hyo-jin The summit between President Yoon Suk Yeol and U.S. President Joe Biden slated for Wednesday will be an opportunity for South Korea to show progress in its goal to become a “global pivotal state,” says Oh Joon, former South Korean ambassador to the United Nations.“The symbolism of the summit will be something to be played up. This one will be a state visit rarely given by the U.S. government and taking place on the 70th anniversary of the U.S.-ROK alliance,” Oh said in an interview with The Korea Times. ROK stands for the Republic of Korea, South Korea's official name.“No matter how you cut it, the alliance has been a great success story in the history of both countries, helping bring economic prosperity and democracy to South Korea against the odds,” he added.Oh is a career diplomat who served i

Apr 24, 2023By Lee Hyo-jin
[INTERVIEW] Yoon-Biden summit offers chance for Korea to become 'global pivotal state'
  • Yoon to embark on state visit to US
  • Biden urged to offer bold strategy against North Korean threats
Foreign Affairs

Korean military set to evacuate citizens from war-torn Sudan

Members of the Saudi armed forces pass out chocolates and flowers to Saudi citizens and other nationals upon their arrival in Jeddah, following their rescue from Sudan in this handout picture provided by the Saudi Press Agency on Saturday. A ship carrying Saudi Arabian citizens and other nationals rescued from battle-scarred Sudan arrived in Jeddah, Saudi television said, in the first announced evacuation of civilians since fighting began. The Korean government has also dispatched a military aircraft and a naval unit to Sudan to evacuate 28 Korean nationals amid an intensifying war between Sudanese armed forces. AP-YonhapBy Lee Hyo-jin A total of 28 Korean nationals gathered in Khartoum, the capital of Sudan, Sunday, as the Korean military prepares to evacuate them from the conflict-hit African nation.“All 28 people are safe. We are closely coordinating with the headquarters (Ministry of Foreign Affairs) and the response team on the evacuation plan,” Korean Ambassador to Sudan Namgoong Hwan was quoted as saying by Yonhap News Agency.“The situation is very volatile h

Apr 23, 2023By Lee Hyo-jin
Korean military set to evacuate citizens from war-torn Sudan
  • Foreign states start evacuations from Sudan as battle rages
Politics

Protest against lethal aid to Ukraine

Members of liberal labor groups stage a rally on a street in Jongno district, central Seoul, Sunday, to protest the government's possible decision to provide lethal weapons to Ukraine to support its war against Russia. In a recent interview, President Yoon Suk Yeol said his administration might consider offering lethal aid to Kyiv in the case of “large-scale” attacks on civilians or because of a massacre, marking a significant shift from Korea's current approach of refraining from offering deadly weapons to the war-torn nation. Yonhap

Apr 23, 2023By Lee Hyo-jin
Protest against lethal aid to Ukraine
Politics

Remembering Korean War heroes in NYC

This image shows 10 Korean War heroes jointly selected by the Ministry of Patriots and Veterans Affairs and the Korea-U.S. Combined Forces Command on the occasion of the 70th anniversary of the Korea-U.S. alliance. From the top, inside the number one, are Gen. Douglas MacArthur, Army Col. Ralph Puckett Jr., Gen. James Alward Van Fleet and his son Air Force Capt. James Alward Van Fleet Jr., while from the top left counterclockwise, inside the zero, are Air Force Col. Dean Elmer Hess, military chaplain William Earn Shaw and his son Navy Lt. William Hamilton Shaw, Gen. Paik Sun-yup, Army Col. Kim Dong-seok, Air Force Gen. Kim Doo-man, Korean American Army Col. Kim Young-oak and Marine Corps Col. Park-Jung-mo. A video featuring the heroes will be aired on two electronic billboards in New York's Times Square from Thursday to May 3 (local time). Courtesy of Ministry of Patriots and Veterans Affairs

Apr 20, 2023By Lee Hyo-jin
Remembering Korean War heroes in NYC
  • Samsung, LG unveil videos dedicated to Korean War veterans at Times Square
Foreign Affairs

EXCLUSIVE Ukraine welcomes South Korea's gesture of possible arms support

Ukrainian Ambassador to South Korea Dmytro Ponomarenko speaks during an interview with The Korea Times at the country's embassy in Seoul, Feb. 25, 2022. Korea Times photo by Choi Won-sukRussia threatens to send weapons to North KoreaBy Kwon Mee-yoo, Lee Hyo-jin Ukrainian Ambassador to South Korea Dmytro Ponomarenko welcomed Seoul's decision to possibly provide arms to his home country in its war with Russia.“We would welcome the decision by the Korean Government to extend its support for Ukraine beyond humanitarian and financial aid,” Ponomarenko told The Korea Times, Thursday. “Continuation of timely defense assistance from our partners is crucial to ending the war in 2023.” The ambassador also expressed hopes that South Korea will join efforts in leading democratic countries to support Ukraine's fight against Russian aggression by providing state-of-the-art defense equipment.In an interview with Reuters published the previous day, President Yoon Suk Yeol hinted at the possibility of providing arms to Kyiv, a major shift from Seoul's earlier stance of providi

Apr 20, 2023By Lee Hyo-jin
[EXCLUSIVE] Ukraine welcomes South Korea's gesture of possible arms support
  • Seoul's new stance on Ukraine war expected to affect inter-Korean relations
  • Russia warns South Korea against arming Ukraine
  • Decision on lethal aid to Ukraine depends on Russia: presidential office
  • Yoon's Ukraine remarks may have been intentional before Biden summit
Politics

INTERVIEW Moon calls for new paradigm for peace on Korean Peninsula

Hyunjin Preston Moon, the founder and chairman of the Global Peace Foundation (GPF), speaks during a joint interview with Korean media outlets at a hotel in New Delhi, India, April 13. Courtesy of GPFGlobal Peace Foundation aims to gather 10 million people's support for Korean unification by 2025By Lee Hyo-jin NEW DELHI, India ― In the last few decades, South Korea and its neighboring countries have engaged in various diplomatic efforts to make North Korea abandon its nuclear ambitions, which threaten the peace and stability of the Korean Peninsula and the international community.Under such efforts, numerous talks were held both at bilateral and multilateral levels. Some noteworthy agreements, such as the 2018 Pyongyang Joint Declaration, seemed to bring the two Koreas closer to achieving peace.Nevertheless, to this day, Pyongyang still shows no signs of giving up its nuclear arms, in what it calls “self-defense” capabilities. In recent months, the reclusive regime has been ratcheting up tensions on the peninsula through a barrage of missile tests as well as verbal provoc

Apr 20, 2023By Lee Hyo-jin
[INTERVIEW] Moon calls for new paradigm for peace on Korean Peninsula
Politics

Ancient Indian spirit meets Korean peacebuilding movement

Dignitaries of the 2023 Global Peace Leadership Conference, including Hyunjin Preston Moon, fourth from left, chairman of Global Peace Foundation, pose during a high plenary session held in New Delhi, April 13. Courtesy of Global Peace FoundationScholars, spiritual leaders gather in New Delhi to discuss shared global challenges By Lee Hyo-jin NEW DELHI, India ― India is a land of spiritual heritage, with its dynamic history and culture dating back to the beginning of human civilization. The South Asian nation now has a population of more than 1.3 billion, earning the title of the largest democratic country in the world. On the global stage, India is raising its presence as a bridging nation between various power states. Holding presidencies of both the G20 and the Shanghai Cooperation Organization (SCO) this year, much attention is paid to how the country will position itself as the leader of emerging and developing nations.The rising geopolitical position of India served as a perfect background for the Global Peace Foundation (GPF), a Washington D.C.-based non-profit group, to host

Apr 20, 2023By Lee Hyo-jin
Ancient Indian spirit meets Korean peacebuilding movement
Foreign Affairs

China wary of South Korea, US, Japan security cooperation

Missile destroyer Suzhou of the Chinese People's Liberation Army Navy returns to a military port in Zhoushan, China's eastern province of Zhejiang, Nov. 15, 2022. Xinhua-YonhapBeijing conducts major naval drill in West SeaBy Lee Hyo-jin China held a major naval drill in the West Sea, Tuesday, in an apparent protest over strengthened security cooperation between South Korea, the United States and Japan which was displayed by a trilateral missile defense exercise carried out the previous day.According to Chinese media, China's Maritime Safety Administration on Monday uploaded an announcement on its website that a major military exercise would take place in in its eastern waters from 9 a.m. to 12 p.m. (local time) the next day. It also warned that civilian vessels would be banned from entering the designated area in the waters off Shandong Province during the exercise, without providing further details.Local analysts saw the naval drill, which came just a day after the combined exercise between Seoul, Washington and Tokyo, as highlighting Beijing's deepening skepticism over the trilater

Apr 18, 2023By Lee Hyo-jin
China wary of South Korea, US, Japan security cooperation
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