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Lee Kyung-min

Korea Times AI content 2 team Reporter

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Banking & Finance

Coupang customers on alert over phishing attempts after data breach

Lee Won-son, a woman in her 40s and a long-time Coupang customer, said she could not sleep after hearing about a friend who was almost duped in what appeared to be a voice-phishing attempt linked to the e-commerce giant. “I keep replaying the story in my head,” she said. Lee she wondered what she would have done if she had been the one to pick up the phone. “The details were unsettling. It sounded so real,” Lee said. “They knew her name, her phone number, even mentioned her bank account. I suddenly realized how easily it could have been me.” She said her friend, also a Coupang customer, recently received a call from a man claiming to be a credit card delivery serviceman. He told the friend that he had a “Coupang account-related credit card” issued in her name and needed to deliver it to her home. When the friend said she had not applied for such a card, the caller said that her identity may have been stolen through Coupang, instructing her to call a customer service number beginning with 1544. When she dialed the number, a person claiming to be a customer service worker cite

Jan 9, 2026By Lee Kyung-min
Coupang customers on alert over phishing attempts after data breach
Economy

Investors bet on dollar's long-term strength, despite won's recent gain

Kim So-young, a 35-year-old Seoul resident, said she decided to convert some of her savings into U.S. dollars. “I’ve been watching the won’s value relative to the U.S. dollar closely for weeks,” she said, adding that she saw an opportunity when the won gained briefly at the end of last month, following a government intervention. “I decided to buy U.S. dollars before the won weakens again. I think the Korean currency is likely to lose ground in the coming months, earning me money. Many could say it’s speculation, but I think this is a sound investment choice in light of market volatility," Kim said. She said she knew it was right the right move after watching a news report about a Hana Bank branch in Gangnam, southern Seoul, that ran out of $100 bills on Dec. 24. The branch made headlines after it posted a notice informing customers that U.S. currency was unavailable. “Many, like me, must have believed that the strong demand for dollars would continue and that any gain in the Korean won would be short-lived," she said. She is among many investors putting their holdings of the

Jan 8, 2026By Lee Kyung-min
Investors bet on dollar's long-term strength, despite won's recent gain
Banking & Finance

Gov't, ruling party at odds over won-denominated stablecoin issuance

Korea’s plan to legalize a bank-led won-denominated stablecoin is running into political resistance, intensifying the long-standing friction between financial regulators, the central bank and the ruling Democratic Party of Korea (DPK) over how and whether to open the market to non-bank players in the country’s first comprehensive digital asset law, market watchers said Thursday. Central to the issue is capital liberalization, where rich people use cash to buy won-denomiated stablecoins and bypass the country’s bank-mediated capital regulations and taxes by diverting their assets overseas. Currently, cash remittances of up to $100,000 are allowed per year without reporting to banks. The Bank of Korea (BOK) has long maintained that across-the-board stablecoin issuance by non-bank issuers would lead to a significant outflow of funds from Korea, undermining the principle of retaining national wealth within the country, a source of rapid economic growth over the past few decades. The Financial Services Commission (FSC), the nation’s financial regulator, together with the ruling party

Jan 8, 2026By Lee Kyung-min
Gov't, ruling party at odds over won-denominated stablecoin issuance
Banking & Finance

Hyundai Motor shares soar on expectations for robotics boom

Hyundai Motor shares jumped sharply on Tuesday, buoyed by investor optimism over the automaker’s entry into robotics as a physical artificial intelligence (AI) leader, market watchers said Wednesday. Many say the development bolsters expectations that the automaker could emerge as a long-term beneficiary of the rapidly expanding robotics industry, increasingly viewed as a new growth driver for global manufacturers facing softening demand in traditional sectors. According to the Korea Exchange, Hyundai Motor shares closed at 350,500 won ($241), up 13.8 percent from the previous session. Its intraday high peaked at 362,000 won. This was the second straight surge where the auto giant set a 52-week high, following a similar rally a day earlier, when shares climbed to 330,000 won. This coincided with the opening of CES 2026, where Hyundai Motor drew investor attention by showcasing its robotics vision. CES is an annual trade show organized by the Consumer Technology Association. Held in January at the Las Vegas Convention Center, the event typically hosts presentations of new products and te

Jan 7, 2026By Lee Kyung-min
Hyundai Motor shares soar on expectations for robotics boom
Others

Older adults fear poverty after retirement due to children’s education, wedding costs

Kim Jin-ho, 54, an office worker in Seoul, said he calculates numbers in his head before sleeping. “My son is getting married in October. The wedding will cost 100 million won ($69,000). After that, my savings will drop to below 50 million won. I still have a mortgage to pay and my retirement is less than 10 years away. I wonder if I’ll have to keep working after retirement to support my children, my wife and myself.” For Lee Sun-young, 55, who runs a clothing shop, the fear comes every time she gets tired sooner than usual. “I paid well over 150 million won for my daughter’s university tuition and her allowances, then another 70 million won for her wedding,” she said. “I had my savings to cover some, but took out loans for the rest. Now, I don’t think I need another big expenditure, just hoping that I don’t get seriously ill. I thought life in my early 60s would be easier, but I guess I was wrong.” Like Kim and Lee, many older adults fear poverty after retirement. Their stories are increasingly common as Korea enters a super-aged society where financial pressure does

Jan 7, 2026By Lee Kyung-min
Older adults fear poverty after retirement due to children’s education, wedding costs
Others

Half of financially strained older adults turn to high-interest loans, raising concerns over debt inheritance

More than half of financially strained older adults are taking out high-interest borrowing loans, fanning concerns that their debt could be passed on to their families in what could become a social, intergenerational problem, a study showed Tuesday. The findings come amid rapid population aging with the rising possibility of unsettled debt among older adults undermining not only their retirement security but also translating into unwanted financial stress for younger generations already burdened by higher housing and living costs. Also lingering are concerns over exposure to illegal debt collection, with reports of older adults being coerced to quickly repay their debts or have their family members threatened. According to a survey by BNP Paribas Cardif Life Insurance Korea, nearly half, or 45.6 percent, of older adults who have taken out loans said that they resorted to second- or third-tier higher interest-charging financial institutions, including capital firms and private lenders. These lenders are used by low-credit borrowers with weak credit, low income and unstable employment hist

Jan 6, 2026By Lee Kyung-min
Half of financially strained older adults turn to high-interest loans, raising concerns over debt inheritance
Economy

Korea's FX holdings shrink at steepest rate in 28 years to $428.05 billion

Korea’s foreign exchange (FX) reserves in December declined at the sharpest rate in 28 years, strained by the government's aggressive currency market intervention to limit further weakening of the Korean won against the U.S. dollar, central bank data showed Tuesday. The measures partially stabilized the currency, but doubts persist over the long-term effectiveness of such short-term interventions, especially if market volatility intensifies. Experts warn that FX reserves could face additional pressure in the near term, as financial institutions move to withdraw foreign currency temporarily deposited at the central bank to meet year-end regulatory ratio requirements. Still, large withdrawals of funds are likely to be limited because authorities are now paying interest on extra foreign currency deposits. There’s also hope that government intervention could ease, helping to stabilize FX reserves. According to Bank of Korea data, the country’s FX reserves stood at $428.05 billion at the end of December, down $2.6 billion from November. The drop was the second-sharpest December decline

Jan 6, 2026By Lee Kyung-min
Korea's FX holdings shrink at steepest rate in 28 years to $428.05 billion
Others

Lee administration tasked with balanced growth in 2026 as polarization deepens

Korea’s stagnant domestic spending and polarized growth among key growth-driving manufacturing industries, coupled with the won’s weakness relative to the U.S. dollar, are masked by record exports and the artificial intelligence (AI) sector-backed stock market boom, market watchers said Monday. The Korean economy’s heavy dependence on the semiconductor industry will put the economic drive of the Lee Jae Myung administration to the test, as the weakening won significantly reduces purchasing power and strains the cost of living for many people. Whether the government’s economic initiatives can steer the country away from chipmaking toward more balanced, inclusive growth amid a wider polarization in assets and income remains to be seen. To do this, experts urge steady structural reforms such as efficient exit strategies for declining industries and sweeping deregulation to foster new growth drivers. “On paper, everything looks great,” former Seoul National University (SNU) professor Lee In-ho said. Korea’s exports exceeded $700 billion for the first time, becoming the sixth eco

Jan 5, 2026By Lee Kyung-min
Lee administration tasked with balanced growth in 2026 as polarization deepens
Others

Decent retirement life for 2 costs at least $2,074 a month: report

Koreans aged 50 and older believe nearly 3 million won ($2,074) a month is needed for a household of two for a stable retirement life, a finding that highlights looming concerns as many approach old age without knowing how much pension income they will actually receive. The report comes as pressure grows on the public pension system, signaling a need for stronger retirement planning, policy intervention and financial education as Korea rapidly ages. According to findings by a research institute affiliated with the National Pension Service, the respondents said they perceive old age as beginning at an average age of 68.5, reflecting expectations of longer working lives amid increased life expectancy. The survey was based on 5,138 households with at least one member aged 50 or older, totaling 8,394 respondents, including spouses. More than half defined the start of old age as the point when physical strength begins to decline, while 26.7 percent said it begins when they stop engaging in paid work. When asked about retirement living costs, respondents said that an individual needs a minimum

Jan 4, 2026By Lee Kyung-min
Decent retirement life for 2 costs at least $2,074 a month: report
Others

From state pension to foreign workers, K-food: How policies will change in 2026

National pension contributions to rise Starting in 2026, Korea will gradually increase the national pension contribution rate, raising the monthly premium from 9 percent to 13 percent of workers’ salaries. The Ministry of Health and Welfare’s move is part of broader efforts to ensure the long-term sustainability of the pension system amid a rapidly aging population. Self-employed contributors who pay the full premium themselves will see their monthly payment increase by up to 31,850 won ($22), based on the income ceiling capped at 6.37 million won. For salaried workers — whose employers shoulder half of the contribution — the per-person cost will increase by up to 15,925 won a month. English disclosure requirement strengthened The Financial Services Commission will significantly expand mandatory English disclosures for listed firms to improve transparency and attract foreign investors. Under the new rule, KOSPI-listed companies with assets of at least 2 trillion won will be required to provide disclosures in English, tightening the previous threshold, which applied only to companies

Jan 1, 2026By Lee Kyung-min
From state pension to foreign workers, K-food: How policies will change in 2026
  • From AI child protection to visa reform: What social policies are changing in 2026
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