my timesThe Korea Times
yistory

Yi Whan-woo

Korea Times Politics & City Reporter

Yi Whan-woo is a Korea Times journalist primarily covering finance. He writes in-depth articles on macroeconomy and financial markets and previously covered sports, politics, diplomacy and inter-Korean affairs, among others. Feel free to contact him at yistory@koreatimes.co.kr.

Go to Email

Read more

Foreign Affairs

USFK presence, energy route dependence give Washington leverage over Seoul

South Korea may be more vulnerable than most U.S. allies to pressure to join a proposed coalition to police the Strait of Hormuz, with U.S. security for the Korean Peninsula and the country’s reliance on the strait for energy shipments serving as instruments of U.S. influence. U.S. President Donald Trump has been campaigning for countries to join efforts to reopen the strait, Monday (local time), highlighted U.S. Forces Korea (USFK) and the share of South Korea’s crude oil imports that pass through the strait, analysts said, Tuesday. “You have to remember. We have 45,000 troops in Japan. We have 45,000 troops in South Korea. We have 45,000 ... 50,000 troops in Germany,” Trump said. “We defend all these countries.” However, these figures differ from actual troop levels. The U.S. currently stations about 50,000 troops in Japan, 28,500 in Korea and roughly 35,000 in Germany. With regard to countries’ percentage of crude oil imports transiting the Gulf shipping route, Trump said, “Japan gets 95 percent. China gets 90 percent. Many of the Europeans get quite a bit. South Korea

Mar 17, 2026By Yi Whan-woo
USFK presence, energy route dependence give Washington leverage over Seoul
Foreign Affairs

Trump's request tests Lee on alliance commitment, Middle East ties

President Lee Jae Myung faces a challenge posed by U.S. President Donald Trump’s request to deploy warships to the Strait of Hormuz, as he seeks to balance South Korea’s commitment to the U.S. alliance while maintaining stable relations with countries in the Middle East. Analysts said Monday that rejecting the request could strain the alliance, a central tenet of Lee’s foreign policy, by aggravating Trump’s dissatisfaction with Seoul. Trump included South Korea among five countries — alongside China, France, Japan and the United Kingdom — in a social media post, Saturday (local time), asking them to send warships in support of a U.S.-led effort to secure the strait. He intensified pressure, saying Sunday (local time) in a separate message to allies, “Whether we get support or not, I can say this — and I said it to them: we will remember.” Iran has effectively blockaded the vital Gulf shipping route amid a widening conflict with the U.S. and Israel since Feb. 28. Analysts warned that Trump could use the request as leverage to accelerate the repositioning of U.S. assets

Mar 16, 2026By Yi Whan-woo
Trump's request tests Lee on alliance commitment, Middle East ties
Policy

Top tax officials of Korea, Cambodia agree on swift exchange of data to tackle cross-border tax crimes

The top tax officials of Korea and Cambodia have agreed to cooperate in the “swift and accurate” exchange of data on assets linked to suspected cross-border tax crimes, the National Tax Service (NTS) said Sunday. The NTS said a memorandum of understanding was signed by Commissioner Lim Kwang-hyun and Kong Vibol, director general of Cambodia’s General Department of Taxation, during Lim’s visit to Phnom Penh for the fifth round of a bilateral meeting of top tax administrators last week. The agreement is aimed at “further materializing and documenting” the two countries’ previous deal, reached verbally in January in Seoul, on cross-border tax offenses and the exchange of related information, the NTS said. In particular, last week’s deal came after Cambodia-based online scams targeting Korean nationals, many of them students and job seekers, with illicit gains from the victims laundered out of the Southeast Asian country. “The two sides agreed that sharing transaction data on the suspects in a swift and accurate manner is essential to combat increasingly sophisticated offsh

Mar 15, 2026By Yi Whan-woo
Top tax officials of Korea, Cambodia agree on swift exchange of data to tackle cross-border tax crimes
Policy

Align Partners commits to responsible activism for minority shareholders

Align Partners founder and CEO Lee Changhwan underscores the firm’s long-term commitment to strengthening minority shareholders’ rights as a homegrown activist hedge fund, reflecting the growing wave of shareholder activism in Korea’s stock market. This wave is gaining momentum in line with President Lee Jae Myung’s investor-friendly policies, with investors increasingly seeking to influence corporate decisions and governance, often by pressing management to adopt changes that enhance shareholder value. Yet, it has drawn mixed reactions — welcomed by those who see it as progress, but met with caution by those recalling some foreign activist hedge funds criticized for prioritizing quick, speculative gains over broader shareholder value. “Under the circumstances, I would like to stress that Align Partners naturally pursues long-term, responsible investments, unlike foreign activist hedge funds that tend to view Korea as just one market among many,” Lee said in an interview with The Korea Times at the company’s office in Seoul’s financial district of Yeouido, Wednesday. Ba

Mar 12, 2026By Yi Whan-woo
Align Partners commits to responsible activism for minority shareholders
Economy

Private education spending fell after hitting record high in 2024

Korean households spent less on private supplemental education last year, a reversal after spending hit a record-high 29.2 trillion won ($19.7 billion) in 2024, as the school-age population continues to decline, according to government data released Thursday. The data, released by the Ministry of Data and Statistics, showed total spending on private after-school classes for primary, middle and high school students reached 27.5 trillion won in 2025. Spending by academic level fell across the board — down 7.9 percent to 12.2 trillion won for primary schoolers, 3.2 percent to 7.6 trillion won for middle schoolers and 4.3 percent for high schoolers — resulting in an aggregate decline of 5.7 percent from 2024 to 2025. This decline ended a four-year streak of increases, which had heightened concerns over excessive academic competition. The record-high spending in 2024 raised particular concerns, defying expectations that private education expenses would begin to fall as the school-age population declined as part of the larger demographic crisis. “Under these circumstances, the student pop

Mar 12, 2026By Yi Whan-woo
Private education spending fell after hitting record high in 2024
Economy

Tax agency embarks on tracking system for crypto investment gains for more revenue collection

The National Tax Service (NTS) has begun preparations to build a tracking system to levy taxes on cryptocurrency investment gains, in line with the government’s expansionary fiscal policy and the need for additional revenue, the agency said Thursday. The move comes particularly ahead of the government’s plan to begin collecting taxes on profits from virtual assets from January next year. The tax agency said it opened a bid to build an integrated system aimed at analyzing virtual asset transactions for corresponding taxation. The project, worth 3 billion won ($2.02 million), was posted on the electronic bidding platform operated by the Public Procurement Service, which is responsible for procuring goods and services for the government and related organizations. A successful bidder will be selected and contracted within this month. The system design will begin in April and, following various test runs, a pilot operation will begin in November. The system will be ready for launch between November and December. “It is expected to serve our goal of collecting individuals’ virtual asset

Mar 12, 2026By Yi Whan-woo
Tax agency embarks on tracking system for crypto investment gains for more revenue collection
Others

Aspiring TV producer turns Winter Games assignment into breakthrough

Kim Min-seo, an aspiring television producer in her early 20s, says the 2026 Winter Olympics gave her invaluable hands-on experience through a Woori Financial Group-sponsored university media team, letting her develop producing skills that can only be gained in the field. A Yonsei University junior, Kim found that her hard-fought efforts paid off, with the team’s clips and videos exceeding 1 million views on social media and achieving viral success. The achievement was especially celebrated on university campuses, sparking curiosity among students about how their peers were able to cover the world’s largest winter sporting event and capture action-packed moments by Korean athletes. Of the clips and videos produced, Kim noted, her work contributed to more than 650,000 clicks on Instagram and YouTube. During a phone interview with The Korea Times earlier this week, she said, “The process was often painful, but through this experience, I realized that I still love video production and have grown to cherish this world even more.” She added, “It ultimately helped me solidify my caree

Mar 12, 2026By Yi Whan-woo
Aspiring TV producer turns Winter Games assignment into breakthrough
Policy

KEPCO, KOGAS face higher debt service costs as global energy supply tightens

Public energy companies face growing concerns over a liquidity crunch in the bond market, as their bond yields may rise sharply amid disruptions in the global energy supply, industry officials said Tuesday. These energy sources include crude oil, liquefied natural gas (LNG) and coal, which are purchased by Korea Electric Power Corp. (KEPCO), Korea Gas Corp. and other domestic state-run energy firms. Global energy supply is tightening due to the escalating U.S.-Israeli war on Iran, driving energy prices higher. However, state-run energy firms cannot immediately pass these higher costs on to consumers because of government-regulated pricing, meaning they must bear the burden of the resulting losses themselves. The companies are tempted to issue more corporate bonds to make up for these losses. However, this measure can instead push bond yields higher, which in turn leads to falling bond prices, reduced profitability and a worsening liquidity risk. “The current situation, if mismanaged, could revive a crisis previously faced by KEPCO,” an industry official said. The crisis happened in 202

Mar 10, 2026By Yi Whan-woo
KEPCO, KOGAS face higher debt service costs as global energy supply tightens
Economy

Investors dump Seoul stocks as oil prices surge, won weakens

Seoul stocks fell Monday amid prolonged market volatility, as investors dumped blue‑chip shares over surging crude oil prices, which climbed past $100 a barrel amid the U.S. and Israel's escalating conflict with Iran. Unstable oil prices rattled the foreign exchange market, pushing the Korean currency to close at 1,495.5 won per dollar in onshore trading, its lowest in nearly 17 years. The benchmark KOSPI lost 5.96 percent, closing at 5,251.87 points Monday, while the secondary bourse Kosdaq fell 4.54 percent to finish at 1,102.28 points, in another up‑and‑down session after the U.S. and Israel began their military strikes on Iran on Feb. 28. After trading resumed following last week’s three-day weekend, both indexes fell on Tuesday and Wednesday — KOSPI down 7.24 percent and 12.06 percent respectively, and Kosdaq down 4.62 percent and 14 percent — before rebounding on Thursday and Friday, with KOSPI gaining 9.63 percent and 0.02 percent and Kosdaq rising 14.1 percent and 3.42 percent. The KOSPI opened on Monday down 5.72 percent at 5,265.37 points, and at one point during

Mar 9, 2026By Yi Whan-woo
Investors dump Seoul stocks as oil prices surge, won weakens
Policy

Listed companies move to secure management-friendly directors ahead of revised corporate act

Multiple publicly traded companies appear to be leveraging upcoming general meetings to secure management-friendly outside directors before tougher board accountability rules take effect in September, industry officials said Monday. The meetings are scheduled this month, before a revised Commerce Act takes effect in September to expand the fiduciary duties of board members and protect the interests of minority shareholders. The revised act could put pressure on management, as it requires outside directors to be selected independently of management’s influence and also calls for an increase in the number of independent directors on company boards. Under these circumstances, industry officials noted that several publicly listed companies, primarily KOSPI-traded and family-owned conglomerates, see their upcoming general meetings as a last-minute opportunity to adjust rules in favor of corporate chiefs who are also controlling shareholders. First, they aim to extend the terms of existing loyal directors. Second, they seek to reduce the number of board seats that could challenge management

Mar 9, 2026By Yi Whan-woo
Listed companies move to secure management-friendly directors ahead of revised corporate act
previous page
1213141516
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.