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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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Politics

DPK official warns against affair allegations over viral cheek-poking video

Lee Ji-eun, left, head of the Democratic Party of Korea's (DPK) Mapo A district chapter in Seoul, pokes DPK leadership candidate Jung Chung-rae in the cheek during the party's joint campaign speech event for the Chungcheong region, Saturday. After footage of the moment went viral, Lee apologized Tuesday for the gesture but warned of legal action against those alleging that she and Jung were having an affair. Screenshot from YouTube

Aug 4, 2026By Lee Yeon-woophoto
DPK official warns against affair allegations over viral cheek-poking video
Economy

Kosdaq gains momentum as chip stocks jitter

Korean stocks ended mixed Tuesday, as the tech-heavy Kosdaq extended its rally on expectations of stronger investor inflows while continued weakness in major chipmakers weighed on the benchmark KOSPI. The benchmark KOSPI closed at 6,358.95, up 1.62 percent from the previous session. The index climbed to 6,389.40 shortly after the opening bell but reversed course later in the day. Foreign and institutional investors sold a net 369.7 billion won ($257.7 million) and 539.1 billion won worth of shares, respectively. Retail investors, meanwhile, bought a net 810 billion won. SK hynix rose 0.64 percent to close at 1,577,000 won, while Samsung Electronics gained 0.21 percent to finish at 240,000 won. Sentiment toward memory chipmakers continued to weaken overnight following reports that China's largest memory chipmaker, CXMT, is considering building a new semiconductor plant in Beijing. Although details such as production capacity and investment size were not disclosed, the prospect of increased memory supply added downward pressure to chip stocks. Still, U.S. memory chip stocks managed to rebou

Aug 4, 2026By Lee Yeon-woo
Kosdaq gains momentum as chip stocks jitter
Economy

Korean won seen as biggest Asian FX winner from yen support

The Korean won is poised to be the biggest beneficiary among Asian currencies after U.S. and Japanese authorities carried out a coordinated yen-buying intervention, given the won's relatively high sensitivity to moves in the Japanese yen, analysts said Tuesday. "The suppression on the dollar-yen rate should favor a lower dollar-won rate, along with other Asian currencies against the U.S. dollar, with the Korean won emerging as a clear beneficiary," said Stephen Chiu, chief emerging markets FX strategist at Bloomberg Intelligence. Barclays also noted in a research published Monday that yen-sensitive Asian currencies, particularly the Korean won, could extend gains in the short term. While most Asian currencies have relatively low sensitivity to moves in the Japanese yen, the Korean won, Singapore dollar and Thai baht are the most responsive, in that order, it said. "Following an almost uninterrupted decline in the dollar-won exchange rate since early July ... the currency (won) received additional support after the dollar-yen rate fell sharply amid reports of Japanese intervention," said

Aug 4, 2026By Lee Yeon-woo
Korean won seen as biggest Asian FX winner from yen support
Economy

Korean investors flock to leveraged US ETFs, take another hit

A retail investor surnamed Min knew the risks before pressing the buy button. But the urge to make up for the gains he had missed overwhelmed his better judgment. In early July, the 29-year-old purchased 5 million won ($3,496.26) worth of Direxion Daily Semiconductor Bull 3X Shares, an exchange-traded fund (ETF) known by its ticker, SOXL. The fund seeks to deliver three times the daily return of the Philadelphia Semiconductor Index. When he checked his account the next morning, his position was already down more than 10 percent. He saw the decline as another buying opportunity and added to his holdings. His losses continued to deepen, eventually reaching 30 percent. "I naively thought that the bad news surrounding chip stocks would end just after I bought in, followed by a sharp rebound," he said. "I let the fear of missing out take over." Min is one of many retail investors who have piled into triple-leveraged U.S. ETFs as chip stocks have languished at home and Korean authorities have tightened regulations on trading single-stock leveraged ETFs tied to Samsung Electronics and SK hynix.

Aug 4, 2026By Lee Yeon-woo
Korean investors flock to leveraged US ETFs, take another hit
Economy

KOSPI slides 5% after record surge, while funds rotate to Kosdaq

Korea's stock indexes moved sharply in opposite directions Monday, with the KOSPI tumbling more than 5 percent while the tech-heavy Kosdaq triggered a buy-side trading curb after a sharp intraday rebound. The benchmark KOSPI closed at 6,257.45, down 5.12 percent from the previous session, when it surged nearly 18 percent for its biggest gain on record. The index opened 3.6 percent lower, slipped below the 6,500 mark and extended losses throughout the session. Foreign and institutional investors sold a net 2.84 trillion won ($1.98 billion) and 1.95 trillion won of shares, respectively. Retail investors bought a net 4.65 trillion won. SK hynix fell 8.79 percent to close at 1,567,000 won, while Samsung Electronics dropped 8.76 percent to 239,500 won. The shares had gained 29 percent and 30 percent, respectively, in the previous session before coming under profit-taking pressure. Kosdaq rose 2.44 percent to close at 737.35. The index opened 1.36 percent lower before reversing course around 9:30 a.m. A buy-side sidecar was triggered at 10:28 a.m., though the index pared some gains before the

Aug 3, 2026By Lee Yeon-woo
KOSPI slides 5% after record surge, while funds rotate to Kosdaq
Economy

KOSPI rockets 18% in record-breaking rally

KOSPI surged nearly 18 percent on Friday to reclaim the 6,500 level, posting record gains in both percentage and point terms as chip stocks staged a dramatic rally. The benchmark closed at 6,595.45, up 17.91 percent from the previous session. It jumped immediately after the open, triggering a buy-side sidecar at 9:06 a.m., and extended gains through the session. The only other time KOSPI rose more than 10 percent in a single day was Oct. 30, 2008. Foreign and institutional investors led the buying, snapping up a net 7.22 trillion won ($5.06 billion) and 1.18 trillion won in shares, respectively. Retail investors, meanwhile, net sold 8.25 trillion won. SK hynix surged 29.95 percent to close at 1,718,000 won. Korea's second-largest company by market value touched the 30 percent daily limit during the session. Samsung Electronics also jumped 26.81 percent to 262,500 won, its biggest daily percentage gain on record. The rally erased losses from the previous three sessions. SK hynix had fallen 29.9 percent and Samsung Electronics 19.34 percent over the three trading days through Thursday. Stron

Jul 31, 2026By Lee Yeon-woo
KOSPI rockets 18% in record-breaking rally
Economy

Korea to launch $13.9 bil. sovereign wealth fund for strategic industries

The government will launch a 20 trillion won ($13.9 billion) sovereign wealth fund next year to make long-term investments in strategic domestic industries, including artificial intelligence, chips, robotics, defense and biotechnology, officials said Friday. The fund will be established within the Korea Investment Corp. (KIC). The plan was announced Friday at a meeting of economic affairs ministers chaired by Minister of Finance and Economy Koo Yun-cheol. The government plans to capitalize the fund with about 16 trillion won in shares it holds in state-run financial institutions, including the Korea Development Bank, the Export-Import Bank of Korea and the Industrial Bank of Korea. It will also contribute roughly 4 trillion won in shares received in lieu of inheritance and gift taxes. Additional funding may come from surplus tax revenue generated by the semiconductor industry and from private donations. Unlike existing policy funds, the new vehicle will operate as "ultralong-term patient" capital, with no predetermined maturity or liquidation date. It will make direct equity investments i

Jul 31, 2026By Lee Yeon-woo
Korea to launch $13.9 bil. sovereign wealth fund for strategic industries
Economy

Leveraged ETF fiasco weighs on Lee administration's economic team

When President Lee Jae Myung took office in June 2025, he promised to lift Korea's benchmark index to 5,000. Within a year, the KOSPI reached that target and kept surging to peak at 9,000, powered by a semiconductor boom and expectations of corporate governance reform. Barely a year into his presidency, the rally is unraveling. KOSPI has fallen back to around 5,000, this time amid an even more troubling development: extreme volatility. At the center of the volatility are single-stock leveraged exchange-traded funds (ETFs) tied to Samsung Electronics and SK hynix. The issue is weighing heavily on the Lee administration's financial team, and calls are growing for the resignations of top policymakers, as investors largely regard their countermeasures as makeshift and far from a fundamental solution. Introduced on May 27, the funds were intended in part to draw Korean retail investors away from leveraged products listed in Hong Kong and to ease pressure on the won-dollar exchange rate. However, the products have magnified gains and losses in some of the country's most heavily traded shares,

Jul 30, 2026By Lee Yeon-woo
Leveraged ETF fiasco weighs on Lee administration's economic team
Economy

Korea's sidecar system faces test as triggers hit record high

Once a rarely used emergency brake, the sidecar mechanism has become a recurring feature of Korea's stock market amid bouts of extreme volatility. Its growing use has raised questions about its effectiveness, as stocks have often continued to plunge until circuit breakers were triggered, industry officials said Thursday. According to the Korea Exchange, sidecars have been triggered 43 times in the benchmark KOSPI this year, far surpassing the 26 activations recorded during the 2008 global financial crisis. They have also been triggered 29 times on the secondary Kosdaq, bringing the total number of sidecar activations in Korea’s stock markets this year to 72. Introduced in 1996, the sidecar is designed to prevent sharp price swings in the futures market from spilling over into the spot market through program trading. On KOSPI, a sidecar is triggered when KOSPI 200 futures move by at least 5 percent and remain at or beyond that threshold for one minute. On Kosdaq, it is activated when Kosdaq 150 futures move by at least 6 percent and the spot index moves by at least 3 percent in the same

Jul 30, 2026By Lee Yeon-woo
Korea's sidecar system faces test as triggers hit record high
Economy

Seoul stocks plunge for 2nd day amid growing panic sell-off

KOSPI tumbled below the 6,000-point mark after suffering steep losses for the second consecutive day, deepening concerns that the market sell-off has entered a self-reinforcing phase, analysts said Wednesday. KOSPI closed at 5,663.24, down 5.98 percent from the previous session. The benchmark index opened at 6,089.11 and climbed as high as 6,228.52 during the session. Selling then intensified rapidly, with a sell-side sidecar issued at 9:06 a.m. and a circuit breaker activated at 12:32 p.m. The index plunged to the 5,200-level intraday before paring some of its losses. Foreign and retail investors led the selling spree, dumping 764.4 billion won ($527.8 million) and 2.93 trillion won in shares, respectively. Institutional investors purchased 3.61 trillion won in shares, but the buying was not enough to halt the plunge. SK hynix fell 9.61 percent to close at 1,401,000 won despite announcing record quarterly earnings, while Samsung Electronics plunged 5.23 percent to close at 208,500 won. SK hynix shares plunged 22.85 percent over two consecutive day. Although SK hynix posted record second

Jul 29, 2026By Lee Yeon-woo
Seoul stocks plunge for 2nd day amid growing panic sell-off
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