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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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Travel agency CEO turns Korea's aging society into opportunity with tailored experiences

Koo Ja-man, CEO of older adult-focused travel agency Respect U, is creating experiences exclusively tailored for seniors, a group often overlooked in favor of younger, more active generations. First entering the travel industry in the mid-2000s after working as a web designer, Koo launched the company in 2020. And his insight proved accurate as Korea became a super-aged society in 2024, with the market now estimated to be worth 100 billion won ($67.9 million). The market is expected to grow further as the country ages more rapidly, with 30 percent of the population projected to be 65 or older by 2035 and 40 percent by 2050. “Travel is something everyone desires, but when it comes to seniors, the choices tend to be surprisingly limited,” Koo said during a recent telephone interview with The Korea Times. “That’s when I realized the need to design travel specifically around their comfort and physical condition.” Koo bet on the potential of the older adult market, as retirees are increasingly wealthier and healthier, giving them greater freedom to travel independently. “I see an ag

Jan 14, 2026By Yi Whan-woo
Travel agency CEO turns Korea's aging society into opportunity with tailored experiences
Economy

Money leaves banks at faster pace as stock market rallies

For Sung Moon-kyu, a salaried worker in Seoul, keeping money in the bank had long been the most reliable financial safety net as he was not adventurous and had never been tempted by riskier products such as stocks. But his wealth strategy recently shifted, spurred by a bullish KOSPI, prompting him to withdraw tens of millions of won he had saved over the years and invest them in the stock market. “The rally is accelerating at an even faster pace over time, convincing me that it’s a matter of how much I can gain, not whether I gain or lose,” he said. Sung represents many savings-minded investors who are increasingly moving into stocks as the benchmark KOSPI has risen in all nine trading sessions since the start of 2026. On Wednesday, the main index gained 0.65 percent to close at 4723.10 points, marking the first time it has closed above 4,700 after consecutively breaking 4,300, 4,400, 4,500 and 4,600 over the previous eight sessions. The step-by-step climb is rarely seen and comes after a 75.62 percent gain in 2025 — the highest among major economies — prompting speculation that

Jan 14, 2026By Yi Whan-woo
Money leaves banks at faster pace as stock market rallies
Policy

Procurement agency partners with KOTRA for SMEs’ overseas advancement

The Public Procurement Service (PPS) has partnered with the Korea Trade-Investment Promotion Agency (KOTRA) to boost Korean businesses’ expansion into overseas procurement markets, PPS said Wednesday. It said a joint seminar was held at The Ambassador Seoul — A Pullman Hotel, attracting more than 60 small and medium-sized enterprises (SMEs) to explore opportunities in around 190 countries. The seminar took place as part of a cross-ministry effort to lower barriers and enhance cooperation for SMEs, which have relatively fewer opportunities than larger companies. PPS operates under the Ministry of Economy and Finance and is in charge of procuring goods and services for all government agencies and state-run organizations. KOTRA is a state-run company responsible for promoting trade and investment under the Ministry of Trade, Industry and Energy. The seminar was a follow-up event to last year’s PPS-hosted Global Public Procurement Marketplace, the nation’s largest overseas procurement consultation fair. “The seminar is expected to encourage more Korean companies to enter overseas pro

Jan 14, 2026By Yi Whan-woo
Procurement agency partners with KOTRA for SMEs’ overseas advancement
Banking & Finance

Korean won weakens again amid growing geopolitical risks

The Korean won is once again weakening against the U.S. dollar after a temporary rebound sparked by aggressive verbal intervention from monetary authorities in late December, according to market analysts, Tuesday. The won closed at 1,473.7 per dollar, Tuesday, down 5.3 percent from the previous day and moving back toward the 1,480-level it had hovered around before the Dec. 24, 2025, intervention — a level that reflected volatility similar to past financial crises. The intervention measure led to a sharp rebound, with the won gaining 33.8 won, strengthening from 1,483.6 to 1,449.8 per dollar — its largest one-day gain in more than three years. The won-dollar exchange rate stabilized over the next two sessions — Dec. 26 and Dec. 29 — reaching 1,429.8 won per dollar. Beginning on Dec. 30, however, it resumed an upward trajectory, breaching the 1,430, 1,440, 1,450, and 1,460 levels before returning to 1,470 per dollar, Tuesday. Economists and analysts said the government’s foreign exchange measures have yet to show a clear effect and that authorities should be cautious with further

Jan 13, 2026By Yi Whan-woo
Korean won weakens again amid growing geopolitical risks
Others

Counterfeit gold containing tungsten spreads as prices soar

Counterfeit gold is spreading through the Korean market as the precious metal’s price steadily rises toward an unprecedented 100 million won ($680) per 3.75 grams, according to industry officials, Monday. The standard retail unit in Korea, a 3.75-gram pure gold piece, was priced at 948,000 won, Monday, surpassing the 940,000-won mark for the first time after rising about 80 percent in 2025, according to the Korea Gold Exchange. An average of 49,712 users per month requested authentication of their gold through the mobile appraisal platform Geumbang Geumbang in the fourth quarter of 2025, up 50.5 percent from a year earlier, the platform said. "The number is expected to rise even faster in the first quarter this year, given the surge in gold prices and suspected smuggling of counterfeit gold," an industry official said. The official referred to a warning from the Korea Jewelry Federation, which recently identified counterfeit gold containing about impurities of up to 9 percent, including materials such as tungsten. The rate suggests the loss of at least 20 million won in pure gold per k

Jan 12, 2026By Yi Whan-woo
Counterfeit gold containing tungsten spreads as prices soar
Others

Stock polarization deepens among top 10 conglomerates

The top 10 conglomerates listed on the KOSPI are experiencing increasing polarization in market capitalization, reflecting a broader trend of widening disparities now spreading among peer business groups, according to market watchers Monday. This polarization corresponds with global business developments, with second-ranked SK Group, driven by global chip demand, and seventh-placed Hanwha Group, supported by U.S. shipbuilding cooperation, standing out among the top 10 as each surged toward 200 percent over the past year. In contrast, share price growth was less than 10 percent for fourth-largest LG Group and 20 percent for sixth-ranked POSCO, as a slowdown in secondary batteries and steel held back performance in each core business. “The widening gap among top-tier companies suggests that polarization is no longer limited to typical divides between the rich and the poor or between conglomerates and small and medium-sized enterprises (SMEs),” Jung Eui-jung, head of the Korean Stockholders’ Alliance, said. “A bullish KOSPI does not guarantee returns and therefore investors should c

Jan 12, 2026By Yi Whan-woo
Stock polarization deepens among top 10 conglomerates
Economy

Korea to speed up internationalization of won as part of 2026 growth plan

Korea will unveil a roadmap to internationalize its currency in the first half of 2026, aiming to strengthen economic resilience against external risks that increasingly destabilize the foreign exchange market, the government said Friday. It also said it will aim to manage and execute 25 percent of the national treasury using digital currency by 2030, addressing the rise of decentralized crypto assets being explored by central governments worldwide. These measures, jointly announced by the Ministry of Economy and Finance and other ministries, are part of the 2026 economic growth strategy designed to build on the positive momentum from President Lee Jae Myung’s first year in office. The finance ministry projected 2 percent gross domestic product (GDP) growth in 2026, marking the first time it has formally specified a growth target, up from an estimated 1 percent in 2025. But long-term economic concerns persist, as the potential growth rate — the economy’s maximum sustainable pace — has slowed to 1 percent and could approach zero by 2040 amid unpredictable domestic and global chall

Jan 9, 2026By Yi Whan-woo
Korea to speed up internationalization of won as part of 2026 growth plan
Others

Southeast Asia courts Korean buyers, offering remedy to Seoul’s high apartment prices

Southeast Asian real estate firms are seeking to attract Koreans to buy property, as soaring apartment prices in Seoul make premium homes abroad comparatively more affordable, industry officials said Friday. PropEasy, a Malaysian developer, recently invited Seoul-based real estate brokers to Kuala Lumpur as part of a promotional campaign for residential projects currently under construction. “The campaign was organized as a three-night, four-day tour,” an industry official said, noting that this marked the first time Korean brokers had been invited to participate in a group tour program. Another official said developers from the Philippines and Thailand are also in talks with Korean counterparts to launch similar tours for domestic brokers. “Tour schedules are currently being coordinated,” he said. The outreach reflects a broader shift in strategy, as companies that previously focused on Japanese and American buyers are now expanding their attention to Koreans. “Koreans are viewed as a new source of demand with strong purchasing power,” a third official said, adding that overse

Jan 9, 2026By Yi Whan-woo
Southeast Asia courts Korean buyers, offering remedy to Seoul’s high apartment prices
Economy

KOSPI surges toward 5,000 points faster than expected

The benchmark KOSPI is climbing faster than expected toward an unprecedented 5,000 points, with analysts Wednesday projecting it could reach the milestone as early as the first quarter of this year. The index has broken the all-time closing high in each of the first four trading days of the year, finishing at 4,309.63 points Friday, 4,457.52 on Monday and 4,525.48 on Tuesday. On Wednesday, KOSPI briefly climbed above the 4,600-point mark, reaching an intraday high of 4,611.72 before closing at 4,551.06 points, hitting another all-time high. In particular, KOSPI’s step-by-step climb along the 100-point marks — 4,300, 4,400, 4,500 and 4,600 — has been rarely seen, prompting analysts to revise their forecasts and suggest that the index could reach 5,000 points within the first three months of 2026. Many analysts have agreed that the milestone is within reach this year, citing KOSPI’s 75.62 percent gain in 2025 — the highest among major economies. “I bet President Lee Jae Myung will be most surprised by KOSPI’s accelerated rally,” said Jung Eui-jung, head of the Korean Stockho

Jan 7, 2026By Yi Whan-woo
KOSPI surges toward 5,000 points faster than expected
Economy

Tax agency urges foreign workers to take advantage of exclusive benefits for year-end tax filing

The National Tax Service (NTS) said Wednesday that foreign workers in Korea are encouraged to take advantage of exclusive benefits for the year-end tax filing, which runs through February. The tax agency estimates that 700,000 foreign nationals are eligible to file taxes, including spouses of Korean nationals, highly skilled engineers and native English teachers. Foreigners married to Korean citizens can receive a 40 percent income tax deduction on contributions to long-term housing savings, if their annual salary does not exceed 70 million won ($48,300) and their spouse does not yet own a home. The maximum tax deduction is limited to 3 million won per year. “This benefit was previously available only to heads of households and did not apply to foreigners who cannot be registered as such under the Resident Registration Act, but it has now been expanded,” the NTS explained. Engineers with a bachelor’s degree or higher and overseas R&D experience are eligible for a 50 percent income tax reduction for 10 years from the start of their employment in Korea. Native English teachers may be

Jan 7, 2026By Yi Whan-woo
Tax agency urges foreign workers to take advantage of exclusive benefits for year-end tax filing
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