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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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Society

INTERVIEW Korean adoptee in Germany reunites with birth family after 42 years

German citizen thanks his mother for never giving up searching for himBy Lee Hyo-jin Benjamin Joon went missing in January 1981 at the age of three at Suwon Bus Terminal in Gyeonggi Province, while travelling with his father. The two were holding hands, but the next minute, they were separated.That is the only memory Joon has of Korea.“My blind father was unable to find me and didn't inform my mother, who was living apart from him at that time. Someone must have found me at the terminal and brought me to the city hall of Suwon,” Joon, 45, told the Korea Times in a recent interview.The officials at Suwon city took him to Holt International, a local adoption agency. Five months later, he was sent for adoption to a German family. Benjamin Joon, who was sent for adoption to Germany in 1981, was able to reunite with his birth family in Korea on March 16 through a DNA matching service offered by the Korean government. Courtesy of Benjamin JoonJoon, who now works as a mindfulness instructor in Berlin, sought his biological roots for decades. He especially missed his birth mother

Mar 23, 2023By Lee Hyo-jin
[INTERVIEW] Korean adoptee in Germany reunites with birth family after 42 years
Foreign Affairs

S.Korea, US plan largest military drill to commemorate alliance

South Korean and U.S. troops conduct a combined combat training drill in Inje, Gangwon Province, as part of its 11-day Freedom Shield joint exercise, in this photo provided by the Republic of Korea Army on Monday. Courtesy of Republic of Korea ArmyDozens of events set for 70th anniversary of allianceBy Lee Hyo-jin Dozens of events marking the 70th anniversary of the alliance between South Korea and the United States will be held throughout this year, including their largest-ever live-fire joint exercise scheduled for June, according to related ministries, Wednesday.The Ministry of National Defense said the allies will demonstrate “formidable firepower and mobility on an unprecedented scale” in the planned drills amid North Korea's evolving nuclear and missile threats. Since the inaugural live-fire joint drill conducted in June 1977, there have been 11 such exercises so far, with the latest held in April 2017 in Pocheon, Gyeonggi Province. It involved South Korea's Apache helicopters, K2 battle tanks and F-15K fighters, along with the U.S.' Bradley armored vehicles and an

Mar 22, 2023By Lee Hyo-jin
S.Korea, US plan largest military drill to commemorate alliance
Foreign Affairs

Sexual assaults by Korean diplomats continue despite zero-tolerance policy

The foreign ministry office building in central Seoul / Korea Times fileBy Lee Hyo-jinA Korean diplomat has been accused of sexually assaulting a female staff member at a Korean embassy in a Latin American country, the Ministry of Foreign Affairs said Wednesday. This is the latest in a series of sexual offense cases involving Korean diplomats in recent years, sparking debate about the effectiveness of the ministry's zero-tolerance policy against sex crimes committed by its officials.“The accused official will be summoned to Seoul as early as this week, after which an internal investigation will pick up pace,” a foreign ministry official told The Korea Times, noting that headquarters has yet to glean further details concerning the allegation.However, the official refused to identify which embassy the case occurred at or the nationality of the victim, citing privacy reasons. “Disclosure of details about the suspect may reveal personal information of the victim and lead to secondary victimization,” he said. Korea operates embassies in 20 Latin American and Caribb

Mar 22, 2023By Lee Hyo-jin
Sexual assaults by Korean diplomats continue despite zero-tolerance policy
Society

Autistic golfer appointed as ambassador of veterans ministry-affiliated country club

Simon Seung-min Lee poses with the trophy after winning the U.S. Adaptive Open at Pinehurst Resort in North Carolina, July 20, 2022. YonhapBy Lee Hyo-jin Simon Seung-min Lee, a 26-year-old professional golfer with autism, has been appointed as the ambassador of the country club golf course that is owned by the Ministry of Patriots and Veterans Affairs, according to the ministry, Tuesday.Lee, who lives near the 88 Country Club, located in Yongin, Gyeonggi Province, will be offered membership benefits for its outdoor driving range. The ministry-affiliated country club was established in 1988 to raise funds in order to support veterans. “We will support Lee, who has been pursuing his dreams despite hardships, so that he can practice in a better environment,” Vice Minister Yoon Jong-jin said in a written statement. Lee believes that this will help him pursue his dreams, expressing hope to compete at the 2024 Paris Paralympics if golf is selected as a medal sport. Golf will be featured at the Paris Olympics, but the International Paralympic Committee has yet to announce whethe

Mar 22, 2023By Lee Hyo-jin
Autistic golfer appointed as ambassador of veterans ministry-affiliated country club
Politics

US report voices concerns over S. Korea's press freedom

Union members at broadcaster MBC stage a rally against ruling People Power Party lawmakers' visit to their office on Sept. 28, 2022. The lawmakers made the visit in protest against the broadcaster's media coverage of President Yoon Suk Yeol's hot mic incident. Joint Press CorpsBy Lee Hyo-jin Violence and harassment towards media professionals were listed among significant challenges to human rights in Korea in a report released by the U.S. Department of State, Monday (local time). The annual report on human rights referred to several events that took place here in 2022 including the presidential office's decision to ban a major broadcaster from boarding the presidential jet in response to media coverage of President Yoon Suk Yeol's hot mic incident.“On Nov. 10 (2022), the presidential office stated it had barred MBC from boarding the presidential aircraft to cover an overseas trip because of its 'repeated distorted and biased coverage of foreign policy issues recently,'” the report read, describing the incident as “violence and harassment on freedom of expression.&r

Mar 21, 2023By Lee Hyo-jin
US report voices concerns over S. Korea's press freedom
Defense

US strategic assets limited to stop NK provocations: experts

Two U.S. Air Force B-1B bombers, upper left, fly in formation with South Korean Air Force F-35A fighter jets and U.S. Air Force F-16 fighter jets over South Korean skies during a joint air drill, Sunday. Courtesy Ministry of DefensePyongyang will continue to raise belligerence, experts sayBy Lee Hyo-jin The United States' strategic assets deployed to South Korea seem to be having a limited effect in deterring North Korea's evolving nuclear threats, according to experts on Monday, as seen by Pyongyang's latest provocation that came just minutes before U.S. strategic bombers entered South Korean skies. North Korea test-fired yet another ballistic missile on Sunday, the same day U.S. strategic bombers took part in joint air drills with the Republic of Korea Air Force. According to the South Korean Joint Chiefs of Staff (JSC), a short-range ballistic missile was launched from the North's northwestern Tongchang-ri area around 11:05 a.m. and flew about 800 kilometers over land before falling into the waters off its east coast. The missile was launched some 25 minutes before the two B-1B bo

Mar 20, 2023By Lee Hyo-jin
US strategic assets limited to stop NK provocations: experts
  • N. Korea holds nuclear counterattack simulation drills; Kim urges perfect readiness
Defense

KAI aims to be world's No. 7 aerospace company by 2050

Korea Aerospace Industries CEO Kang Goo-young speaks during a press conference at the Air Force hotel in Seoul, Friday. Courtesy of Korea Aerospace IndustriesBy Lee Hyo-jin Korea Aerospace Industries (KAI), the country's sole aircraft manufacturer, aims to rise as the world's No. 7 aerospace company by 2050 through extensive investments in next-generation businesses, including sixth-generation fighter jets.The ambitious goal was unveiled by the company's CEO Kang Goo-young during a press conference held in Seoul, Friday, where he laid out his “Quantum Jump” strategy with a goal of reaching a yearly revenue of 40 trillion won ($33 billion) by 2050. KAI logged 2.87 trillion won in revenue last year. “We will invest 1.5 trillion won in the research and development sector throughout 2027, and 3 trillion for the next five years from 2028,” said Kang, who admitted that KAI has fallen four to five years behind its competitors due to a lack of long-term investment in future growth.“If we don't invest now, we will not be seeing continuous growth in the decades to

Mar 17, 2023By Lee Hyo-jin
KAI aims to be world's No. 7 aerospace company by 2050
Foreign Affairs

ANALYSIS Too early to hail success of Korea-Japan summit

President Yoon Suk Yeol shakes hands with Japanese Prime Minister Fumio Kishida during a summit held at the latter's official residence in Tokyo, Thursday. YonhapUnresolved historical disputes may hinder 'new era' of ties: expertsBy Lee Hyo-jin A milestone summit between President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida on Thursday ended on an upbeat tone. According to diplomatic observers, it has inarguably opened a new chapter in bilateral ties between Korea and Japan.But analysts viewed the summit as lacking concrete plans from Japan on the compensation of Korean forced labor victims, leaving room for related disputes to resurface in the future. “The summit has succeeded in putting bilateral relations back on track, and that's a notable achievement. Previous administrations of both countries had failed to hold a summit due to negative public sentiment on each other's leaders,” said Yang Ki-ho, a professor of Japanese studies at Sungkonghoe University. Thursday's summit was the first such event in 12 years. Mutual visits by Korean and Japanese leaders to

Mar 17, 2023By Lee Hyo-jin
[ANALYSIS] Too early to hail success of Korea-Japan summit
  • Yoon, Kishida build mutual trust by sharing drinks after summit
  • Business leaders from Korea, Japan meet to bolster bilateral ties
  • Political divide intensifies in Korea over Yoon-Kishida summit
Foreign Affairs

Breakthrough summit thaws up frozen S. Korea-Japan ties

President Yoon Suk Yeol and first lady Kim Keon Hee, left, and Japanese Prime Minister Fumio Kishida and his wife Yuko Kishida, pose ahead of a dinner hosted by Kishida at a restaurant in Ginza district, Tokyo, Thursday. YonhapYoon treated with his favorite dish 'Omurice'By Lee Hyo-jin A milestone summit between the leaders of South Korea and Japan held Thursday highlighted both nations' willingness to thaw bilateral relations which had been deeply frozen over the past few years.President Yoon Suk Yeol held talks with Japanese Prime Minister Fumio Kihsida on the first day of his two-day visit to Tokyo. It was the first time in 12 years for a South Korean president to visit Japan for a summit.It was the third time for the two leaders to sit down for talks, as they have previously held bilateral meetings only on the sidelines of multilateral gatherings. They met during the U.N. General Assembly in New York in September last year and then during a summit of the Association of Southeast Asian Nations (ASEAN) in Cambodia in November.Compared to their previous encounters, both Yoon and Kis

Mar 16, 2023By Lee Hyo-jin
Breakthrough summit thaws up frozen S. Korea-Japan ties
  • Yoon describes Japan as 'close neighbor' sharing democratic values
  • Yoon, Kishida bond over drinks at popular eatery
Foreign Affairs

Yoon calls for Japan's reciprocity in forced labor issue

President Yoon Suk Yeol and first lady Kim Keon Hee arrive at Haneda International Airport in Tokyo, Thursday. AP-YonhapBy Lee Hyo-jinPresident Yoon Suk Yeol called on Tokyo, Thursday, to take reciprocal steps in response to Seoul's plan to compensate Korean victims of Japan's wartime forced labor, just ahead of a milestone summit with his Japanese counterpart Prime Minister Fumio Kishida.Describing the settlement of the forced labor issue as a “grand decision” for Korea's national interest and its people, Yoon urged corresponding action from Japan.“Both countries should step up efforts to open a window of historic opportunity for the future, putting behind conflicts and hostility,” he was quoted as saying in a joint interview with Japanese media outlets.The written interviews were published on the front pages of major Japanese newspapers ― the Asahi Shimbun, the Mainichi Shimbun and the Nihon Keizai Shimbun ― hours before Yoon's bilateral summit with Kishida which took place later in the day in Tokyo. It was the first time in 12 years for a Korean president t

Mar 16, 2023By Lee Hyo-jin
Yoon calls for Japan's reciprocity in forced labor issue
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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.