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Lee Yeon-woo

Korea Times Finance Reporter

Lee Yeon-woo is a financial journalist at The Korea Times. Her wide range of reporting includes policies, macroeconomics, stock market, companies and even crypto. She is passionate about connecting the dots in Korean finance and making it easier for foreign nationals to understand. Based on her previous experience as a national reporter, she also has a keen interest in social issues within the sector, including gender equality and ESG. Your tips and insights are always appreciated. You can send them to yanu@koreatimes.co.kr.

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Banking & Finance

Hana Bank, Incheon establish 'culture bank' for foreign nationals

Hana Bank said Tuesday it signed a memorandum of understanding with Incheon to jointly operate a "culture bank" for foreign nationals. Through this partnership, Hana Bank and Incheon aim to create a hub that helps foreign nationals residing in Incheon integrate into the local community and achieve self-reliance through financial and cultural support. Hana Bank will provide financial fraud prevention training, hands-on digital finance education tailored for foreign nationals and customized services to help them better understand and use Korea's financial systems. Additionally, in collaboration with Incheon and other operating organizations, the program will offer step-by-step Korean language courses designed to support settlement and employment, assist with community activities such as multicultural clubs, and provide education on Korean culture and lifestyle. The new hub is located within Hana Bank's Namdong Industrial Complex Financial Center branch, making it easily accessible to foreign workers employed in the industrial complex. It will also operate on Sundays to improve accessibilit

Oct 14, 2025By Lee Yeon-woo
Hana Bank, Incheon establish 'culture bank' for foreign nationals
Cryptocurrency

Stablecoins trade above won-dollar exchange rate amid renewed US-China trade tensions

Dollar-pegged stablecoins are trading at a significant premium on Korean cryptocurrency exchanges, with prices roughly 5 percent above the official won–dollar rate, as renewed U.S.–China trade tensions roil markets, industry officials said Tuesday. At Upbit, Tether's USDT traded at around 1,490 won ($1.04) on Tuesday, following trades near 1,500 won the previous day. This was about 5 percent higher than the won–dollar exchange rate, which hovered at around 1,420 for the second consecutive day. Its price spiked as high as 1,655 won on Friday, following heightened concerns over escalating U.S.–China trade tensions. This marks the first time the token breached 1,650 won during trading hours since its Upbit debut in May. Circle's USDC, the no. 2 dollar-backed stablecoin, mirrored the trend, peaking at 1,647 won on Friday before retreating to 1,490 won by Tuesday — still above the official exchange rate. Smaller stablecoins saw wilder swings, with World Liberty Financial's USD1 briefly surging to 10,000 won on Friday before easing to around 1,500 won by Tuesday. "A surge of buy order

Oct 14, 2025By Lee Yeon-woo
Stablecoins trade above won-dollar exchange rate amid renewed US-China trade tensions
Cryptocurrency

KRW stablecoin could anchor global tech transactions: Tether CEO

It doesn't make sense to create a stablecoin for every country. Only a few nations are strategically suited for such a move, and Korea is one of them, according to Tether CEO Paolo Ardoino. "While the world goes toward more and more tech, the biggest tech players are basically you guys (Korea) and a couple of other countries," Ardoino told The Korea Times in a recent video interview. "So I think the Korean won is going to be one of the most important currencies for settling transactions and tech-related commodity trades, as well as international agreements for access to new technology," he added. Tether is the issuer of USDT, the world's largest and most widely used stablecoin. Each USDT is pegged to the U.S. dollar. For every token issued, Tether holds an equivalent amount of assets — such as cash or U.S. Treasury bills — to ensure full backing. This mechanism helps maintain price stability and minimize the volatility typical of other cryptocurrencies. Stablecoins like USDT are expected to expand financial access in developing economies and improve the efficiency of cross-border remi

Oct 14, 2025By Lee Yeon-woo
KRW stablecoin could anchor global tech transactions: Tether CEO
Economy

Rise in older adult debt relief signals growing financial vulnerability among nation's aging population

A restaurant owner in his 60s, who requested anonymity, recently put his Seoul eatery up for sale after just two years in business. "I thought things would get better after COVID-19 ended and tourism resumed, but it’s been difficult," he said. "As the store began running at a loss, I accumulated debt and have now been delinquent for over three months." He’s now seeking employment, but says the expected wage wouldn’t be enough to manage his debt. He’s exploring debt relief options through the Credit Counseling & Recovery Service (CCRS), a government-backed agency that helps individuals avoid bankruptcy and restore financial stability. His case underscores a growing concern among Korea’s aging population. The country is witnessing a sharp increase in the number of older adults seeking personal debt relief, highlighting the mounting financial pressures facing retirees. According to data obtained from CCRS by Rep. Lee Hun-seung of the main opposition People Power Party, the number of people in their 60s undergoing debt relief surged 82.6 percent between 2020 and 2024, outpacing all

Oct 11, 2025By Lee Yeon-woo
Rise in older adult debt relief signals growing financial vulnerability among nation's aging population
Economy

KOSPI tops 3,600 for 1st time as chip stocks lead post-holiday rally

Korea's benchmark KOSPI surged past the 3,600 mark for the first time on Friday, setting a fresh high as investors piled onto semiconductor shares after a weeklong Chuseok holiday. According to the Korea Exchange, KOSPI closed at 3,610.60, up 1.73 percent from Oct. 2, the last trading day before the break. The index touched an intraday high of 3,617.86 before trimming gains. Foreign investors purchased roughly 1.06 trillion won's ($746 million) worth of stocks, while institutions and individual investors offloaded around 597 billion won and 500 billion won, respectively. Secondary bourse Kosdaq rose 0.61 percent to close at 859.49, rebounding from a recent pullback after hitting a record 877.56 on Sept. 23. Semiconductor stocks led the gains, tracking overnight strength in Nvidia, which hit a new intraday high in New York after the U.S. cleared its chip exports to the United Arab Emirates. Samsung Electronics advanced 6.07 percent to close at 94,400 won, while SK hynix jumped 8.22 percent to close at 428,000 won. Investor sentiment was also buoyed by a post from Elon Musk, who wrote on so

Oct 10, 2025By Lee Yeon-woo
KOSPI tops 3,600 for 1st time as chip stocks lead post-holiday rally
Economy

From Baby Shark to aerospace: IPO market reignites after Chuseok

The once-quiet initial public offering (IPO) market is regaining momentum as companies line up to begin their book-building process after the Chuseok holiday, industry officials said Thursday. Eight companies are scheduled to begin demand forecasting this month, starting Oct. 14 with Nota, an AI solutions provider, according to the Korea Exchange. That marks a notable increase from just two and four IPO book-building sessions in August and September, respectively, as sentiment rebounds and companies move to profit from the favorable conditions of an increasingly active stock market. Among the most closely watched listings are those of Pinkfong Company, creator of Baby Shark and Bebefinn, and Nara Space, Korea's first small satellite developer. The Pinkfong Company has built a multilingual content production system spanning more than 25 languages, with overseas sales accounting for 76 percent of revenue. The firm is seeking to raise between 64 billion won ($45.1 million) and 76 billion won, with an estimated post-listing valuation of 459.2 billion won to 545.3 billion won. Nara Space, whic

Oct 10, 2025By Lee Yeon-woo
From Baby Shark to aerospace: IPO market reignites after Chuseok
Economy

Foreign investors reap 4 times higher returns than retail investors in stock rally

Foreign investors have posted returns nearly four times higher than those of retail investors amid a sharp rally in the Korean stock market this year, driven largely by booming semiconductor stocks, analysts said Thursday. According to data from the Korea Exchange, the 10 most actively purchased stocks by foreign investors from Jan. 1 to Oct. 2 (before the Chuseok holiday) returned an average of 145.6 percent. That's more than triple the 47.9 percent rise of the benchmark KOSPI during the same period. Samsung Electronics topped the list of foreign net purchases, with 5.6 trillion won ($3.9 billion) worth of shares acquired. Its share surged 67.3 percent year-to-date, climbing from 53,200 won at the end of 2024 to 89,000 won on Oct. 2. SK hynix was the second-most-purchased stock, with net foreign buying totaling 3.54 trillion won. Its share price also soared 127 percent, climbing from 173,900 won to 395,500 won. Investor sentiment received a notable boost on Oct. 1, when OpenAI CEO Sam Altman visited Seoul and announced strategic partnerships with both companies. The optimism extended bey

Oct 9, 2025By Lee Yeon-woo
Foreign investors reap 4 times higher returns than retail investors in stock rally
Cryptocurrency

Aptos seeks to rebuild global finance on-chain: CEO

A growing share of traditional Wall Street capital is being tokenized and deployed on blockchain infrastructure. This signals that digitized real-world assets (RWAs), including commodities, equities and currencies, are poised to become central to the global economy, according to Avery Ching, Chief Executive Officer of Aptos Labs. "Blockchains provide a platform that is permissionless, decentralized and very, very low-cost," Ching said in a recent video interview with The Korea Times. "In traditional finance, there are many distinct systems, such as settlement and credit risk, but blockchain allows you to solve that with one infrastructure." Aptos, a layer 1 blockchain launched in 2022 by Ching and Mo Shaikh — both former engineers on Meta's crypto project, called Diem — has positioned itself at the center of this emerging market. After Shaikh stepped down from leadership in December 2024, Ching moved from Chief Technology Officer to CEO. "A lot of blockchains were built as general-purpose infrastructure, and we ourselves were that way at first, to some degree," Ching said, explainin

Oct 4, 2025By Lee Yeon-woo
Aptos seeks to rebuild global finance on-chain: CEO
Banking & Finance

Korea, Vietnam deepen railway infrastructure cooperation through Knowledge Sharing Program

The Export-Import Bank of Korea (Eximbank) said Wednesday that it held a final report meeting for the Knowledge Sharing Program (KSP) on Vietnam's railway economic development in Ho Chi Minh City. The KSP is a knowledge-based development cooperation program that provides policy recommendations to partner countries based on Korea's economic development experience. It is supervised by the Ministry of Economy and Finance and managed by Eximbank. The project in Vietnam was jointly promoted by Eximbank and the country's Management Authority for Urban Railways (MAUR). It aimed to share policy consultations on systematizing urban railway technical regulations, investment attraction strategies and stakeholder role guidelines. At the final report meeting on Tuesday, the advising consortium led by Korea Railroad Corp. presented the results of the nine-month study and proposed policy recommendations. It also consulted with Vietnamese authorities to ensure that the recommendations could be incorporated into Ho Chi Minh's plans to construct 10 urban railway lines. More than 50 participants attended t

Oct 1, 2025By Lee Yeon-woo
Korea, Vietnam deepen railway infrastructure cooperation through Knowledge Sharing Program
Cryptocurrency

Could Dunamu's Nasdaq ambitions gain new life through Naver Financial?

Dunamu's long-held ambitions for a Nasdaq listing are regaining momentum, as ongoing merger talks with Naver Financial raise the possibility of a more competitive corporate valuation, analysts said Wednesday. "If a merger and equity swap between Dunamu and Naver were to take place, Dunamu Chair Song Chi-hyung would become the largest shareholder of Naver based on his stake in the merged entity, while Dunamu and Naver Financial would secure a pathway toward a potential Nasdaq listing," said Jo Tae-na, an analyst at Eugene Investment & Securities. "It’s seen as the best win-win strategy," Jo added. According to sources familiar with the matter, the two companies are in advanced talks to execute a comprehensive equity swap that would give Naver’s financial arm full ownership of Dunamu, the operator of the world’s fourth-largest cryptocurrency exchange Upbit. The proposed deal would enable Naver Financial to launch a comprehensive digital finance platform that integrates payments, e-commerce and cryptocurrency trading, while positioning Dunamu more favorably for entry into global capit

Oct 1, 2025By Lee Yeon-woo
Could Dunamu's Nasdaq ambitions gain new life through Naver Financial?
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