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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.

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Tech & Science

FORUM Korean firms should move AI from routine tasks into core operations: PwC executive

Korean companies should shift their focus from choosing the best artificial intelligence (AI) models to helping AI understand their business processes and integrating the technology into their core operations, a PwC Korea executive said Tuesday. Speaking at the 2026 Korea Times Forum, Cho Yong-min, a partner at the Korean member firm of global consulting and accounting giant PwC, said many businesses have already adopted AI for tasks such as writing documents, conducting research and assisting with software development. However, he said the real payoff comes when AI is used to improve the day-to-day operations that drive a company's business, rather than simply handling routine tasks. “Using AI for productivity is important, but the bigger challenge is whether it can change a company's key operations,” he said during the forum co-organized by The Korea Times and GR Korea, a government relations and public affairs service company. Held at the Korea Chamber of Commerce and Industry in central Seoul, the forum was themed “Made in Korea: Global and AI enablement.” Cho participated as

Jun 9, 2026By Yi Whan-woo
[FORUM] Korean firms should move AI from routine tasks into core operations: PwC executive
Politics

FULL TEXT President Lee Jae Myung’s congratulatory message for 2026 Korea Times Forum

My sincere congratulations on the opening of The Korea Times Forum. I would like to express my deep appreciation to Seung Ji-soo, vice chairman of The Korea Times, and all its staff for organizing this meaningful event. I also extend a warm welcome to all distinguished participants, including Sir Martin Sorrell, chairman of S4 Capital, and James Kim, chairman and CEO of the American Chamber of Commerce in Korea (AMCHAM). Today, the world stands in a whirlwind of profound transformation. As global supply chains are being reshaped and geopolitical uncertainties continue to grow, the artificial intelligence (AI) revolution is rapidly rewriting the rules of the market and reshaping the landscape of industrial competition. In this era of profound change, where opportunities and challenges coexist, the future of our businesses and the lives of our people will depend on how we respond. Against this backdrop, I find it especially meaningful that this forum is being held under the theme, “Made in Korea : Global and AI enablement.” I hope it will serve as an opportunity to explore ways to act

Jun 9, 2026By Yi Whan-woo
[FULL TEXT] President Lee Jae Myung’s congratulatory message for 2026 Korea Times Forum
Politics

President urges prudent approach on sharing excess corporate gains

President Lee Jae Myung acknowledged on Monday that a new social debate has emerged over how to share companies’ excess profits, calling for a cautious approach because the issue could have far-reaching implications for the nation's industrial policy. The president said the debate should be elevated to the international level, warning that any unilateral action by Korea could prompt companies to relocate overseas and also weaken foreign investment. Speaking at a press conference marking his first year in office, Lee made the remarks while addressing a labor-management dispute at Samsung Electronics over how to share the massive operating profits generated amid the global artificial intelligence boom. “It is an agenda that can seriously affect the nation’s industrial policy and it must be dealt with in a prudent manner,” the president said. He said that the excess corporate gains involve contributions from multiple stakeholders, including workers and investors, as well as taxpayers whose money was used to provide subsidies or other benefits. “The issue is not something that can b

Jun 8, 2026By Yi Whan-woo
President urges prudent approach on sharing excess corporate gains
Defense

Senior presidential official downplays Korea-US gap over OPCON transfer timeline, conditions

A senior Cheong Wa Dae official said Friday that Korea and the United States have little difference over the transfer of wartime operational control (OPCON), downplaying concerns that the allies remain divided over its timing and conditions. “The gap between the two sides is not that large ... There is little difference in how the two sides assess relevant conditions," the official said on condition of anonymity, concerning bilateral consultations on Korea’s push to take over the wartime command from the U.S. Seoul is seeking to regain wartime OPCON around 2028, or even earlier if possible. Washington, however, is reportedly favoring a more cautious timeline, with U.S. Forces Korea (USFK) Commander Gen. Xavier Brunson saying in April that the conditions would be met by the first quarter of 2029. The official noted that the allies have been working for more than 10 years to meet the conditions for the transfer, even before the Lee administration started in 2025. The official also noted that differences over the timing of the transfer are manageable. “(The gap in timeline) is about o

Jun 5, 2026By Yi Whan-woo
Senior presidential official downplays Korea-US gap over OPCON transfer timeline, conditions
Politics

President may need to moderate policy push following local election outcome: analysts

President Lee Jae Myung may need to moderate the pace of his policy agenda following the recent local elections to more flexibly reflect public sentiment, as evidenced by voter concerns over housing issues in Seoul, analysts said Friday. "The Seoul mayoral election result suggests that the government will likely have to proceed more cautiously with its push for real estate regulation, as housing issues were a major factor behind the ruling party's defeat," a political commentator said, asking not to be named. He went on to say, “The implications could extend beyond housing to other politically sensitive issues that affect people's livelihoods." He pointed to how Oh Se-hoon, the incumbent Seoul mayor from the main opposition People Power Party (PPP), won reelection after overcoming an early deficit against Democratic Party of Korea (DPK) candidate Chong Won-o. The DPK contender's loss overshadowed the ruling party's victories in 12 of the 16 races for metropolitan and provincial leadership posts. The mounting frustration of home owners over the Lee administration’s real estate regulato

Jun 5, 2026By Yi Whan-woo
President may need to moderate policy push following local election outcome: analysts
Politics

Seoul mayoral race remains too close to call

The Seoul mayoral race in Wednesday's local elections still remains too close to call, with the winner uncertain more than 12 hours after polls closed Wednesday. As of 6:20 a.m. Thursday, Chong Won-o of the ruling Democratic Party of Korea (DPK) secured 48.94 percent of the vote, compared with 48.34 percent for incumbent Seoul Mayor Oh Se-hoon of the main opposition People Power Party (PPP), who was seeking reelection. However, the race later swung in Oh's favor, with the incumbent taking a slim lead of 48.78 percent to Chong's 48.5 percent as of 8:20 a.m. The DPK candidate had been projected to win, leading the PPP contender 51.4 percent to 46 percent in a joint exit poll released by broadcasters KBS, MBC and SBS after polls ended at 6 p.m. Wednesday. The vote counting, however, has not yet been finished yet following ballot paper shortages at polling stations in some southern Seoul districts. As the National Election Commission (NEC) extended the closure of voting from 6 p.m. to 10 p.m. Wednesday, to allow those waiting for the papers to cast ballots, people who claimed unfair and illeg

Jun 4, 2026By Yi Whan-woo
Seoul mayoral race remains too close to call
Politics

DPK reclaims Busan after 8 years, ending conservative rule

Chun Jae-soo of the ruling Democratic Party of Korea (DPK) won the Busan mayoral race in the June 3 local elections, as the party saw victories across most regions nationwide, reflecting voter support for the Lee Jae Myung administration. Chun secured 50.52 percent of the vote, compared with 47.9 percent for incumbent Busan Mayor Park Heong-joon of the main opposition People Power Party (PPP). Chun's victory marks the DPK's return to power in Busan, a conservative stronghold, for the first time in eight years. In his victory speech, Chun pledged to honor voters' call for change and work tirelessly on their behalf. “I will become the mayor that citizens want. I will prove myself through achievements and results, not words,” he said. Chun also extended thanks to the PPP contender, saying, “I would like to tell candidate Park Heong-joon, who competed with me for Busan's future, that he worked very hard.” A former three-term lawmaker and former minister of oceans and fisheries, Chun made his first bid for the Busan mayorship in this year's local elections. Throughout the campaign, he pr

Jun 4, 2026By Yi Whan-woo
DPK reclaims Busan after 8 years, ending conservative rule
Politics

Choo Kyung-ho elected Daegu mayor, retains conservative stronghold

Choo Kyung-ho of the main opposition People Power Party (PPP) was elected mayor of Daegu, Thursday, dashing what had appeared to be the liberal bloc's best chance in decades to break the conservative grip on the city. Multiple pre-election polls had shown the race within a razor-thin margin for the ruling Democratic Party of Korea (DPK), but Choo ultimately won in the June 3 local elections with 53.92 percent of the vote against DPK candidate Kim Boo-kyum's 45.05 percent. “I would like to thank the citizens of Daegu for their tremendous support and choice,” Choo said. "I will never forget the trust voters have placed in me and I will repay it with tangible results.” He also promised to foster unity to move Daegu forward. “I will respect not only those who supported me but also those who chose another candidate, as I seek to bring everyone together and devote all my efforts to the development of Daegu,” he said. He interpreted his victory as “a stern mandate from the people to revive the struggling Daegu economy and restore the city’s dormant potential.” He vowed to strength

Jun 4, 2026By Yi Whan-woo
Choo Kyung-ho elected Daegu mayor, retains conservative stronghold
Politics

Choo Mi-ae breaks gender barrier again as Korea's 1st female governor

Choo Mi-ae, a ruling Democratic Party of Korea (DPK) candidate who has repeatedly shattered gender barriers throughout her career, broke new ground again, as she was elected governor of Gyeonggi Province in the local elections, Wednesday. Choo garnered 55.04 percent of the vote, defeating the main opposition People Power Party's (PPP)'s Yang Hyang-ja who received 39.37 percent, in a rare all-female contest between the rival parties. The historic contest drew nationwide attention, as either candidate's win would have marked the first time a woman was elected to lead a provincial or metropolitan government in Korea. The victory marks another milestone in Choo’s career, which has been defined by a series of trailblazing achievements for a woman across the legislative, executive and judicial branches. Among those achievements are becoming the first female judge elected to the National Assembly, the first woman to serve six terms in parliament and the first elected female leader of a ruling party. She served as a judge for 10 years until 1995, when she entered politics after being recruited

Jun 3, 2026By Yi Whan-woo
Choo Mi-ae breaks gender barrier again as Korea's 1st female governor
Politics

Cheong Wa Dae eyes Cabinet, aide reshuffle after local elections

Cheong Wa Dae is poised to carry out a broad reshuffle spanning both the Cabinet and the presidential office after Wednesday’s local elections, according to ruling party and government officials, Tuesday. The projected shakeup comes as President Lee Jae Myung approaches his first anniversary in office, Thursday, and looks to build fresh momentum for the remainder of his term. The prospect of a reshuffle has been fueled by growing speculation that Prime Minister Kim Min-seok will resign after the elections to run for the leadership of the ruling Democratic Party of Korea (DPK). The leadership race has already begun to take shape, with Kim widely seen as a likely challenger to incumbent DPK Chairman Jung Chung-rae. Kim’s departure would require Lee to appoint a new prime minister, prompting speculation over potential successors, including Cabinet ministers and senior presidential aides. A chain of promotions and transfers would follow, leaving a number of posts to be filled across the government. “With the president marking his first anniversary in office, he will likely prefer someone

Jun 2, 2026By Yi Whan-woo
Cheong Wa Dae eyes Cabinet, aide reshuffle after local elections
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