my timesThe Korea Times
lkm

Lee Kyung-min

Korea Times AI content 2 team Reporter

Value context and insight. lkm@koreatimes.co.kr

Go to EmailGo to URL

Read more

Others

Weak won fuels inflation, deepens economic polarization: BOK head

The sharp weakness of the Korean currency against the U.S. dollar is not a sign of a “financial crisis” in the traditional sense, but it is a significant concern because of its implications for social and economic cohesion, the country’s top monetary policymaker said Wednesday. Bank of Korea (BOK) Gov. Rhee Chang-yong said the Ministry of Health and Welfare’s recent decision to factor currency dynamics into the operation of the National Pension Service (NPS), the state pension fund, represents meaningful progress. He added that the NPS needs strategic ambiguity, keeping the beginning and end of its currency hedging undisclosed, to temper expectations about the currency’s trajectory. “Korea is currently a net external creditor, so the possibility of a sovereign default accompanied by a series of financial entity closures is low,” Rhee said during a press conference at the bank's headquarters, Wednesday. However, the weak won has heightened inflation concerns by driving up import prices, placing additional strain on households. Importers have also been affected, particularly

Dec 17, 2025By Lee Kyung-min
Weak won fuels inflation, deepens economic polarization: BOK head
Banking & Finance

Coupang founder may face entry ban for refusing to attend Assembly hearings

A ruling party lawmaker has proposed legislation that would ban foreign nationals from entering the country if they fail to appear before National Assembly hearings without justifiable reasons, according to officials Wednesday. Prompting the tightened parliamentary oversight power is growing political backlash over repeated refusals by Coupang Inc. Chairman Bom Kim, who is a U.S. citizen, to attend committee hearings related to a massive personal data breach at the e-commerce giant. Lawmakers say the proposal seeks to close a legal loophole that executives based outside Korea have exploited to evade accountability despite running major businesses here. Rep. Jeon Yong-gi of the ruling Democratic Party of Korea (DPK) introduced a bill to revise two laws, each governing parliamentary witness testimonies and immigration control, late Tuesday. The revisions would allow the National Assembly to request that the Ministry of Justice impose an entry ban on non-Korean witnesses who fail to appear before the committee hearings without valid grounds. The justice minister would be required to enforce

Dec 17, 2025By Lee Kyung-min
Coupang founder may face entry ban for refusing to attend Assembly hearings
Banking & Finance

Won-based stablecoin law to reduce regulatory uncertainty, provide 'rule book'

Korea is positioning itself ahead of strong regional players in the field of cryptocurrency, like Singapore and Japan, by focusing on a smarter institutional strategy, according to a blockchain expert on Friday. While Singapore and Japan have been pioneers, Korea is making a clear commitment to proactive regulatory control, said Marcos Viriato, co-founder and CEO of Parfin, the developer of Rayls. With the Bank of Korea (BOK) signaling its preference for won-based stablecoins to be introduced gradually through regulated banks, it is ensuring that digital currency used for settlement has the same integrity and trust as the Korean won itself, he added. Rayls combines the compliance with governance regulators’ demands with the scalability and security Web3 requires. It’s a chain being designed for real-world adoption, where central banks, asset managers and fintech companies can safely build and transact at scale. “Recently, the issue of how the Digital Asset Basic Act and stablecoin policy create the regulatory foundation for institutional-grade digital markets is taking center stage

Dec 17, 2025By Lee Kyung-min
Won-based stablecoin law to reduce regulatory uncertainty, provide 'rule book'
Others

Concerns mount over weakening won amid surging US dollar demands

The Korean won has rapidly been weakening to nearly 1,480 won against the dollar despite the receding strength of the global currency, prompting concern over the country’s structural imbalance brought on by sizable offshore investment by the National Pension Service (NPS) and retail investors upping U.S. equity holdings, market watchers said Monday. The weaker currency is also accelerating inflationary pressures due to higher import costs, as prospects of tempered U.S. dollar demands fade due to more financial and private firms seeking to hedge in an effort to limit fallout from more currency volatility. The government has activated an inter-agency task force to monitor developments in foreign exchange market and exporters’ currency conversion, outlining measures to encourage dollar selling. The won-dollar rate closed at 1,471 won as of 3:30 p.m. Monday, up 2.7 won from the previous session. “The won is decoupling from global dollar trends, indicating that Korea’s currency is shaped less by external factors but more by domestic capital flows,” Standard Chartered Korea economist

Dec 15, 2025By Lee Kyung-min
Concerns mount over weakening won amid surging US dollar demands
Banking & Finance

Mirae Asset Global Investments’ assets under management top $338 bil.

Mirae Asset Global Investments said Monday that it has surpassed 500 trillion ($338 billion) in total assets under management (AUM), a feat underpinned by competitiveness through outstanding investment strategies and continued innovation. The investment arm under Mirae Asset Financial Group manages 504 trillion won across 16 regions, including Korea, the United States, Vietnam, Brazil, the United Kingdom, India and Japan as of November. This is a steady growth since its Hong Kong subsidiary was established in 2003, when it became the first Korean asset manager to expand overseas. The November figure is nearly double from 250 trillion won at the end of 2022. The figure climbed to 305 trillion won at the end of 2023 and further to 378 trillion won at the end of 2024. The figure surpassed 400 trillion won in May, and has rapidly increased by another 100 trillion won in just six months. The firm’s overseas subsidiaries accounted for about 43 percent of its total net income for the first three quarters of this year. This was based on a strategy of prioritizing global expansion despite challen

Dec 15, 2025By Lee Kyung-min
Mirae Asset Global Investments’ assets under management top $338 bil.
Banking & Finance

Investors up in arms over KRX’s 'warning' on SK hynix

Investors holding SK hynix shares are expressing frustration over the Korea Exchange's (KRX) decision to place the artificial intelligence (AI) chip maker under an “investment warning”, a measure that triggered sharp losses, market watchers said Friday. Many say the bourse operator’s unreasonable regulatory priority is out of sync with the Lee Jae Myung administration’s drive to push the KOSPI to 5,000 points, accelerating a retail investor exodus from Korea to the U.S. equity market. The say the collective stance is justified, since the “warning” is to curb small-cap shares prone to short-term manipulation, not large-cap shares leading the country’s monthslong artificial intelligence (AI) rally with robust performance and earnings outlook. According to the KRX, SK hynix shares were placed under a warning on Thursday because its price closed more than 200 percent higher than a year ago, posting the highest closing price in the past 15 trading days. This led to investors being banned from increasing holdings through stock or margin loans. Further price spikes could prompt a

Dec 12, 2025By Lee Kyung-min
Investors up in arms over KRX’s 'warning' on SK hynix
Others

Gov't expected to create W6 tril. sovereign wealth fund through nonlisted shares of state firms

The Lee Jae Myung administration is planning to establish a government-run sovereign wealth fund aimed at supporting strategic growth industries, with investment returns intended to benefit the public, market watchers said Friday. Led by the Ministry of Economy and Finance, the initiative aims to create a fund that will pursue aggressive strategies: investing in overseas megaprojects, supporting domestic artificial intelligence (AI) and semiconductor firms, and channeling state assets into long-term sources of national wealth. Comparable models include Singapore’s Temasek and Australia’s Future Fund. However, concerns linger over inefficiencies in resource allocation and management, as existing government funds of over 2 trillion won ($1.3 billion) have yet to find suitable investment targets. Questions also remain about whether the ministry-driven fund would be managed in a way that is meaningfully distinct from the 150 trillion won government-run growth fund launched Thursday. Experts say the launch of the envisioned fund is likely to mobilize about 6 trillion won in government-own

Dec 12, 2025By Lee Kyung-min
Gov't expected to create W6 tril. sovereign wealth fund through nonlisted shares of state firms
Banking & Finance

More older adults open to learning AI tech for financial services

Older adults aged 60 and older are most eager to learn and adopt the artificial intelligence (AI) technology, especially in financial services, despite having the lowest current usage of AI tools, a Woori Financial Group report showed Thursday. The finding comes amid a major shift in how older adults are preparing for retirement, wealth management and digital inclusion in an AI-driven economy. The report was based on a survey of 10,000 people aged 20 to 69 and a series of in-depth interviews. More than half, or 56.3 percent, of those aged 60 and older said they have used AI services, which was lower than their younger peers (70 percent). Only 29 percent of respondents aged 60 and older said they tried generative AI tools, and most of the use was limited to simple information searches. However, over 84 percent of them said they are willing to increase AI usage, especially for financial services. They were more confident than younger groups that AI-based financial services, including robo-advisers, would outperform human advisors in the long term. Of those over 60 with the largest financial

Dec 11, 2025By Lee Kyung-min
More older adults open to learning AI tech for financial services
Others

BOK likely to hold in January despite Fed's 3 consecutive rate cuts

The Bank of Korea (BOK) is widely expected to hold steady in January, despite three consecutive rate cuts by the U.S. Federal Reserve, hamstrung by sustained sharp weakness of the Korean currency and persistent rise in household debt, market watchers said Thursday. The Korea-U.S. interest rate differential has narrowed to 1.25 percentage points, limiting concerns about foreign capital outflow. However, a recent sharp demand for the U.S. dollar driven by asset managers including the National Pension Service and retail investors seeking increased holdings in the U.S. equity remains a key deterrent for the central bank against further monetary easing. Many say Korea is in a “monetary policy bind," with external conditions strengthening the case for easing, while domestic concerns make it risky. The central bank is likely to hold steady as the Fed hinted at a slower pace of easing. The Fed lowered the federal funds rate by 25 basis points this week to 3.50-3.75 percent, its third straight cut following September and October. The Fed said in its statement that downside risks to employment ha

Dec 11, 2025By Lee Kyung-min
BOK likely to hold in January despite Fed's 3 consecutive rate cuts
Others

More university graduates pessimistic about job prospects

Kim Sung-jin, 24, a business major, says he is applying for jobs without expectations to actually land any. “I apply because I feel like I have to, not because I think I’ll get in,” he said. He said he scrolls through job postings every night but that doesn’t mean he is motivated to prepare seriously. “Last month I sent out seven applications and haven’t heard anything back. It’s hard to imagine that anything will change.” The scariest part isn’t rejection, he added, but the feeling that there is no place for him at all. “My friends have all been searching for full-time jobs for many months now. We all spend hours tailoring resumes only to face rejections. The more I try to think I’m getting almost there, the more I feel depressed at the rejection notice. At this point, I’m just doing what I can to not fall behind.” Similarly, Ahn Ji-yoon, 26, says she feels trapped in a vicious cycle of repeated rejection. “I never thought I’d still be looking for jobs after graduation,” she said. She said she is getting to used to finding out there are almost no openings at

Dec 11, 2025By Lee Kyung-min
More university graduates pessimistic about job prospects
previous page
5051525354
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
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.