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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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Policy

Over 60% of firms oppose plan for mandatory retirement of treasury stocks

The business community is raising concerns over the government’s push to enforce the compulsory cancellation of treasury stocks, with more than 60 percent of companies opposing the plan in a survey released Wednesday. The survey, conducted by the Korea Chamber of Commerce & Industry, found that 62.5 percent of the 104 listed firms polled opposed the government’s proposal to mandate the retirement of shares repurchased from shareholders. The 104 firms included in the poll held at least 10 percent of their own shares. Opposition was much greater than the 22.8 percent who remained neutral and the 14.7 percent who supported the measure. The government, backed by the ruling Democratic Party of Korea, is moving to pass a third amendment to the Commercial Act and aims to have the bill approved by the end of this month. The proposed reform would require listed companies to retire their repurchased shares, in line with President Lee Jae Myung’s push to bolster the stock market and strengthen shareholder value. Retirement of treasury stocks would reduce the number of outstanding shares, potent

Nov 12, 2025By Yi Whan-woo
Over 60% of firms oppose plan for mandatory retirement of treasury stocks
Economy

Why Koreans become less willing to make post-death donations

Choi, a retiree in his 70s, says he is not alone among his peers in feeling skeptical about donating wealth after death, citing longer lifespans, financial insecurity and a growing tax burden among several reasons. “I used to be open to the idea of posthumous donations, but now I’m not sure I can,” said Choi, who asked to be identified only by his last name. “Most of my money goes toward daily living, and I also want to ensure there is enough left for my children after I pass away. With these needs, I’m not sure whether I could spare anything for donation as well.” Choi’s perspective reflects a broader trend in Korea, where willingness to make post-death donations has fallen to a record low this year. A survey released by the Ministry of Data and Statistics this week found that only 22.2 percent of respondents were willing to donate their assets posthumously. The survey tracks a wide range of societal issues, with specific topics revisited every two to four years. It showed that the figure has steadily declined from 34.5 percent in 2015, to 26.7 percent in 2019, 23.2 percent

Nov 12, 2025By Yi Whan-woo
Why Koreans become less willing to make post-death donations
Others

Currency designer holds 1st solo exhibition inspired by artistry, security

Kim Jae-min, a senior designer at Korea Minting and Security Printing Corp. (KOMSCO), is presenting a solo exhibition that highlights the delicate balance between artistry and security in currency design. Titled “Portraits of Objects: Stories of Silent Beings,” the exhibition runs from Nov. 4 to 23 at the Currency Museum of Korea in Daejeon, operated by KOMSCO. This marks Kim’s first solo exhibition after more than 22 years at the state-run KOMSCO — Korea’s sole manufacturer of banknotes and coins — where he has mastered the art of blending aesthetic expression with advanced anti-counterfeiting technologies. “This exhibition originated from my work exploring the shapes, materials and security features of money,” Kim, KOMSCO design project manager, said in an interview with The Korea Times. He added, “I wanted to show how art and technical precision can exist together in something we use every day but rarely notice,” briefly referencing his extensive public and commemorative projects, including the coins designed for the 2025 Asia-Pacific Economic Cooperation (APEC) Ec

Nov 12, 2025By Yi Whan-woo
Currency designer holds 1st solo exhibition inspired by artistry, security
Economy

Koreans spend most of free time watching online content, cut back on reading

Watching online content is the most frequent way Koreans spend their free time in 2025, with about 80 percent streaming regularly, a survey showed Tuesday. The survey, released by the Ministry of Data and Statistics, also found that fewer people are reading books compared to 10 years ago, with less than half engaging in the activity this year. The 2025 survey, conducted from May 14 to 29, examined welfare, social participation, leisure, income and spending and labor for about 34,000 individuals aged 13 and above in 19,000 households nationwide. The findings come as Koreans live longer and increasingly want to spend their post-retirement years pursuing hobbies, with 42.4 percent of respondents indicating this preference. However, in reality, many spend much of their time on less productive activities. A total of 85.9 percent of respondents reported watching online content on weekdays, compared with 75.6 percent on weekends. With multiple answers allowed, these rates were even higher than those who reported doing nothing and fully resting, which stood at 71.5 percent on weekdays and 71.6 per

Nov 11, 2025By Yi Whan-woo
Koreans spend most of free time watching online content, cut back on reading
Economy

KOSPI surpasses 4,000 again on dividend income tax cut

The benchmark KOSPI surged more than 3 percent to rebound above 4,000 points, Monday, supported by talks between the government and ruling party a day earlier on lowering the maximum tax rate on stock-derived dividend income. The index ended at 4,073.24 points, up 3.02 percent from Friday, when it slipped below 4,000 for the first time in 10 trading days after reaching an unprecedented high on Oct. 27. The market opened at 3,991.87 points and picked up momentum, briefly rising to 4,092.91 points before easing back to close. The rebound came after a political consensus was reached Sunday to set the top rate at 25 percent on returns from stock dividends, as proposed by the ruling Democratic Party of Korea (DPK), compared to the government’s initial plan of 35 percent. This builds on the government’s plan in July to tax stock dividends separately from other types of income, a move aimed at easing investor tax burden as companies would be encouraged to raise payouts, with the lower rate expected to further benefit investors. The rally was led by institutional investors, who net purchased

Nov 10, 2025By Yi Whan-woo
KOSPI surpasses 4,000 again on dividend income tax cut
Banking & Finance

Mirae Asset faces high-profile lawsuit from ex-Kakao executive

Mirae Asset Securities faces a high-profile lawsuit from a former Kakao executive seeking compensation for assets linked to a 2023 cybersecurity incident, which he claims are now valued at 11 billion won ($7.56 million), according to company and legal sources, Monday. The cyberattack, which occurred between October and November 2023, allegedly siphoned a total of 7.66 billion won — 3.73 billion won in cash and 3.93 billion won in stocks — from a Mirae Asset Securities account belonging to Bae Jae-hyun, former chief investment officer at Kakao. The incident took place while Bae was detained in connection with the SM Entertainment stock manipulation case. Other high-profile figures, including BTS member Jungkook and EcoPro Chairman Lee Dong-chae, were reportedly targeted, but their accounts were protected by the brokerage’s monitoring system. Bae has recovered 6.08 billion won of the stolen assets, leaving 1.58 billion won still unrecovered. He is demanding full compensation for this remaining amount, particularly noting that if he had kept the forcibly sold stocks, their current mar

Nov 10, 2025By Yi Whan-woo
Mirae Asset faces high-profile lawsuit from ex-Kakao executive
Banking & Finance

Financial groups race to partner with big tech for stablecoin edge

Major holding companies in Korea are racing to form partnerships with large tech firms, notably Naver, Kakao, and Samsung Electronics, to gain an edge in the fast-emerging stablecoin market, according to industry officials, Sunday. The move, undertaken by KB, Shinhan, Hana and Woori, comes as domestic stablecoin transaction volumes have already exceeded 60 trillion won ($41.15 billion), despite the market not yet being fully legalized. In response, financial regulators are preparing to submit a bill regulating stablecoins to the National Assembly by the end of 2025. Although discussions are ongoing, banks — the flagship business units of the holding groups — are viewed as viable options to serve as primary issuers of stablecoins pegged to the Korean won, either individually or through a joint consortium with related institutions. “Under these circumstances, alliances with big tech firms are considered essential, since it would take banks considerable time to develop the necessary technology on their own,” an industry official said. “Tech giants, on the other hand, already have

Nov 10, 2025By Yi Whan-woo
Financial groups race to partner with big tech for stablecoin edge
Economy

KOSPI falls below 4,000 amid foreign sell-offs

The benchmark KOSPI closed below 4,000 points for the first time in two weeks on Friday, as foreign and institutional investors sold off following an overnight U.S. market decline over artificial intelligence (AI) bubble fears and major job cuts. The sell-offs also pushed the Korean currency to below 1,450 won per dollar in daytime trading on Friday, adding to concerns that the 1,400-won level could be becoming the new normal. The KOSPI closed at 3,953.76 points, down 1.81 percent from Thursday's close. This marked the first time the main index finished below the 4,000-point level since reaching an unprecedented closing high above that threshold on Oct. 27. The index had subsequently passed 4,100 points on Oct. 31 and 4,200 points on Monday. The index opened the day at 3,963.72 points, down 1.56 percent from the previous session. It narrowed its losses and briefly recovered above the 4,000-point level but fluctuated throughout the day before finishing below it. Friday’s decline followed an overnight tumble in the U.S. market, where the S&P 500 fell 1.1 percent and the tech-heavy Nasdaq d

Nov 7, 2025By Yi Whan-woo
KOSPI falls below 4,000 amid foreign sell-offs
Others

Prospective mobility startups concerned about IPO plans over proposed e-scooter ban

Mobility startups valued at hundreds of billions of won could face challenges in going public, as a proposed bill seeks to completely ban electric scooters — the core of their shared transportation business, industry officials said Thursday. The bill, proposed by Rep. Kim So-hee of the main opposition People Power Party (PPP), aims to remove electric scooters from the legally recognized list of personal mobility devices and prohibit their operation entirely. The proposal, submitted on Oct. 31, comes amid a surge in accidents involving electric scooters. According to data from the Korea Road Traffic Authority, the number of such accidents increased more than 20-fold in six years — from 117 cases in 2017 to over 2,300 in 2023 — resulting in 24 deaths and around 2,600 injuries. Notably, 34 percent of the accidents involved unlicensed drivers, and among those cases, 67 percent of the offenders were under the age of 20, prompting calls for stricter safety regulations. However, industry officials warn that the ban could jeopardize mobility startups’ plans for initial public offerings (I

Nov 6, 2025By Yi Whan-woo
Prospective mobility startups concerned about IPO plans over proposed e-scooter ban
Economy

Stats minister urges participation in 100th‑anniversary census amid record foreign resident population

As Korea celebrates the 100th anniversary of its national census, Minister of Data and Statistics Ahn Hyung-jun is urging the country’s record 2.73 million foreign residents to actively participate in the on-site survey, which runs from Nov. 1 to 18. The minister emphasized that the 2025 Population and Housing Census aims to embrace and support foreign residents as valued members of Korea’s increasingly multicultural society, dismissing concerns that the data could be used to track undocumented individuals. This year’s census, the largest to date, began on Oct. 22 with online and phone surveys as part of the nationwide population count conducted every five years on a sample of households. It is designed to collect comprehensive data on all residents — both Korean citizens and foreign nationals — as well as their households, providing essential statistics for future policy development. However, some undocumented residents have expressed concerns that the large-scale survey could be used to identify them. “I ask every foreign resident to participate in the on-site survey when ap

Nov 6, 2025By Yi Whan-woo
Stats minister urges participation in 100th‑anniversary census amid record foreign resident population
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