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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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Cryptocurrency

560,000 foreign nationals have Korean crypto accounts, but just 90 are active

The number of foreign nationals with accounts at domestic cryptocurrency exchanges has reached 560,000, but only 90 of them are active users, data showed Sunday. The accounts are believed to have been opened before foreign investment was effectively banned in 2021. According to data from the Financial Supervisory Service, the five major cryptocurrency exchanges — Upbit, Bithumb, Coinone, DigitalX and GOPAX — had a combined 566,352 accounts held by foreign nationals. The data was obtained and released by Rep. Park Sang-hyuk of the ruling Democratic Party of Korea. Of these, only 517 foreign-held accounts, or 0.09 percent, had completed know-your-customer verification. The number of active accounts that recorded at least one trade, staking transaction, deposit or withdrawal last month was even lower, at just 90, or 0.01 percent. Bithumb had the largest number of foreign-held accounts, at 484,846, followed by Upbit with 42,449, Coinone with 15,914, DigitalX with 11,622 and GOPAX with 11,521. Korea effectively barred foreign nationals from investing through domestic crypto exchanges foll

Aug 23, 2026By Lee Yeon-woo
560,000 foreign nationals have Korean crypto accounts, but just 90 are active
Cryptocurrency

Why Korean companies flock to Hong Kong to issue digital bonds

Korea's bond market is racking up a series of firsts. This year has seen the country's first digital bond issued by a securities firm, followed by firsts from a private company, a public institution, and, most recently, a bank. The issuers — Mirae Asset Securities, POSCO International, Korea Housing Finance Corporation and KB Kookmin Bank — come from different sectors. Yet the deals have something in common: All were issued on Hong Kong's blockchain rails. "Hong Kong has been taking active steps to develop our digital bond ecosystem," a Hong Kong Monetary Authority (HKMA) spokesperson said. "Issuers from various jurisdictions, including Korea, have successfully issued digital bonds in Hong Kong." Mirae Asset Securities kicked off the run in January with a one-year multicurrency digital bond comprising $41.4 million and $30 million. POSCO International followed in April with a three-year $99.5 million deal, while Korea Housing Finance Corporation issued a two-year $200 million bond in May. KB Kookmin Bank joined in June with a two-year $100 million issuance. All four digital bonds wer

Aug 23, 2026By Lee Yeon-woo
Why Korean companies flock to Hong Kong to issue digital bonds
Economy

KOSPI surges 5.9% as chipmakers rally on shareholder returns

The KOSPI surged past 6,800 on Thursday, as SK hynix and Samsung Electronics rallied on expectations for increased shareholder returns and easing U.S. Treasury yields boosted risk appetite. The benchmark KOSPI closed at 6,852.58, up 5.89 percent from the previous session. The index opened 3.23 percent higher and extended its advance, triggering a buying-side sidecar at 9:57 a.m. It was the 49th sidecar activation on KOSPI this year. Foreign investors bought a net 1.7 trillion won ($1.2 billion) of shares, while institutional and retail investors sold a net 219.5 billion won and 2.3 trillion won, respectively. SK hynix surged 12.73 percent to close at 1,691,000 won, while Samsung Electronics climbed 9.49 percent to 271,000 won, as expectations for stronger shareholder payouts fueled demand for the chipmakers. SK hynix announced a 40 trillion won share buyback and cancellation program after the previous session's close, helping reverse profit-taking pressure that had weighed on the stock following its recent rally. The company also strengthened its shareholder return policy, pledging to al

Aug 20, 2026By Lee Yeon-woo
KOSPI surges 5.9% as chipmakers rally on shareholder returns
Cryptocurrency

BitGo becomes 1st foreign digital asset entity to secure VASP license

BitGo's Korean unit received regulatory approval to operate as a virtual asset service provider (VASP), becoming the first foreign digital asset company to secure the registration in one of the world's most active crypto markets, the company said Thursday. The Korea Financial Intelligence Unit approved BitGo Korea's registration, allowing the unit to provide digital asset custody and transfer services, focusing on institutional and corporate clients. The move gives BitGo a direct foothold in Korea, where foreign crypto companies have struggled to navigate regulatory requirements. Other overseas operators, including Binance and OKX, have instead sought entry through investments in or acquisitions of local operators that already hold VASP registrations. "We chose to establish BitGo Korea locally and complete the VASP registration process directly because we believe serving Korean institutions requires a long-term commitment to the market and its regulatory framework," Chen Fang, CEO of BitGo Korea and chief revenue officer of BitGo, said in a statement. BitGo established its Korean venture

Aug 20, 2026By Lee Yeon-woo
BitGo becomes 1st foreign digital asset entity to secure VASP license
Economy

Won-dollar rate falls below 1,400 won for 1st time in 11 months

The Korean won strengthened to below the 1,400-won mark against the U.S. dollar for the first time in nearly 11 months, while the KOSPI plunged 5.8 percent on Wednesday. The won-dollar exchange rate closed at 1,397.7 won per dollar, down 14.1 won from the previous session. It was the first time that the rate fell below 1,400 won since Oct. 2 last year, when it stood at 1,399.5 won. Companies, including Samsung Electronics and SK hynix, are believed to have sold large amounts of dollars ahead of this month's interim corporate tax payments. Recent U.S. consumer and producer price data also came in below expectations, strengthening views that the Federal Reserve will refrain from raising rates next month. In contrast, the stock market was hit by a sharp sell-off amid growing concerns over rising global bond yields. The benchmark KOSPI closed at 6,471.17, down 5.8 percent. The index opened 4.96 percent lower and extended its losses, triggering a sell-side sidecar at 9:06 a.m. It was the 48th sidecar activation on KOSPI this year. Foreign and institutional investors sold a net 3.49 trillion wo

Aug 19, 2026By Lee Yeon-woo
Won-dollar rate falls below 1,400 won for 1st time in 11 months
Tech & Science

Tech funding nearly triples, but mega-rounds mask uneven recovery

Korea's tech funding nearly tripled year-on-year in the first half of 2026, but a handful of mega-rounds in artificial intelligence (AI) and semiconductors accounted for an outsized share of the rebound, data showed Wednesday. Tech companies in Korea raised $1.4 billion in the first six months, up 195 percent from the same period a year earlier, according to Tracxn, a data intelligence platform for private market research. Funding increased across all stages. Seed investment rose 131 percent to $127 million, while early-stage funding climbed 112 percent to $639 million. Late-stage investment recorded the sharpest increase, rising 440 percent to $621million. But the headline figures mask a heavy concentration of capital in a small number of companies, particularly in AI-related sectors. Rebellions, a Korean AI chipmaker, raised $400 million in a Series D round in March, while semiconductor start-up XCENA secured $135 million in Series B funding in May. Together, the two rounds accounted for about 38 percent of all Korean tech funding in the first half. The deals helped push semiconductor f

Aug 19, 2026By Lee Yeon-woo
Tech funding nearly triples, but mega-rounds mask uneven recovery
Economy

KOSPI falls as high US Treasury yields overshadow AI optimism

The KOSPI ended lower Tuesday, as heavy institutional selling and renewed concerns over high U.S. Treasury yields erased a chip-driven rally. According to the Korea Exchange, the benchmark KOSPI closed at 6,869.83, down 1.55 percent from the previous session. The index opened 2.15 percent higher and briefly surpassed the 7,200 mark on optimism over artificial intelligence (AI) and semiconductor stocks, but gave up all of its gains and fell below 7,000 amid heavy institutional selling. Foreign and retail investors net purchased 86.5 billion won ($61.21 million) and 731 billion won, respectively. Institutional investors dumped 785.4 billion won. SK hynix rose 1.03 percent to close at 1,662,000 won, while Samsung Electronics lost 2.19 percent to finish at 268,500 won. U.S. stocks closed lower overnight, with all three major indexes falling amid heightened geopolitical tensions between Iran and the U.S. and a surge in the benchmark 10-year U.S. Treasury yield to 4.726 percent. While the Dow Jones and Nasdaq indexes declined, the Philadelphia Semiconductor Index gained 1.6 percent after Anthro

Aug 18, 2026By Lee Yeon-woo
KOSPI falls as high US Treasury yields overshadow AI optimism
Economy

Inter-Korean stocks soar on hopes for renewed US-North Korea talks

Shares linked to inter-Korean economic cooperation skyrocketed, Tuesday, as U.S. President Donald Trump said North Korean leader Kim Jong-un had responded to his proposal for talks, according to the Korea Exchange. Good People soared 30 percent to close at 429 won ($0.31), hitting the daily price ceiling. Codes Combine and In the F also surged 30 percent and 29.81 percent, respectively, to close at 3,510 won and 2,395 won. Good People and In the F are considered inter-Korean cooperation stocks due to their past operations in the Gaeseong Industrial Complex. Codes Combine is also included because its largest shareholder previously operated there. Launched in 2004, the Gaeseong Industrial Complex was a jointly operated economic zone in North Korea, largely financed by South Korea to promote inter-Korean cooperation. In February 2016, the Park Geun-hye administration shut down the complex, citing concerns that funds generated there could be diverted to finance North Korea's weapons programs. Seen as a barometer of inter-Korean relations, shares of South Korean companies with ties to the Gae

Aug 18, 2026By Lee Yeon-woo
Inter-Korean stocks soar on hopes for renewed US-North Korea talks
Economy

KOSPI nears 7,000 after 5-day winning streak

KOSPI capped a weeklong rally Friday, briefly reclaiming the 7,000 level for the first time in three weeks as foreign investors piled into semiconductor stocks amid stronger sentiment toward the memory chip sector and easing U.S. inflation. The index nearly rose 25 percent from its July 30 low. The benchmark KOSPI closed at 6,977.94, up 2.42 percent from the previous session. The index opened 2.68 percent higher and reclaimed the 7,000 level for the first time in three weeks before giving up some of its gains as investors took profits following a five-session winning streak. Foreign investors purchased a net 3.03 trillion won ($2.13 billion) worth of shares, while institutional and retail investors sold a net 1.02 trillion won and 1.98 trillion won, respectively. SK hynix rose 3.26 percent to close at 1,645,000 won, while Samsung Electronics gained 2.43 percent to finish at 274,500 won. The gains came amid stronger sentiment across the memory chip sector after Sandisk revealed an upbeat long-term outlook at its investor day. The company said it is targeting revenue growth in the mid- to h

Aug 14, 2026By Lee Yeon-woo
KOSPI nears 7,000 after 5-day winning streak
Business

SK hynix faces backlash over potential Solidigm Nasdaq listing

SK hynix is facing mounting backlash over a potential Nasdaq listing of its U.S. subsidiary Solidigm, with investors warning that the move could effectively create a dual-listing structure and erode shareholder value, according to industry officials, Friday. Solidigm is reportedly exploring a pre-initial public offering (IPO) fundraising of 5 trillion won ($3.5 billion) to 10 trillion won, with Morgan Stanley and Goldman Sachs under consideration as potential underwriters. The company is also recruiting an executive to oversee U.S. Securities and Exchange Commission filings and external financial reporting. "If Solidigm goes public, this would amount to an unprecedented five-tier multiple-listing structure," said Rhee Nam-uh, chairman of the Korean Corporate Governance Forum. He noted that the ownership chain runs from SK Group Chairman Chey Tae-won through SK Inc., SK Square, SK hynix and SK hynix NAND Product Solutions Corp. to Solidigm. Solidigm was established in the U.S. in 2021 after SK hynix acquired Intel’s NAND flash memory business for about $8.8 billion. Rhee argued that the

Aug 14, 2026By Lee Yeon-woo
SK hynix faces backlash over potential Solidigm Nasdaq listing
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