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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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Politics

Jeolla region eyed for new semiconductor cluster: presidential policy chief

The government and chip companies are planning to establish a massive semiconductor cluster in the Jeolla region, separate from the current one near the capital, the presidential policy chief said Wednesday, citing abundant electricity and water in the southwestern provinces. He also stressed the need to start public discussion on how to share the benefits of the artificial intelligence (AI) era, saying the issue comprises social networks, labor policy and excess tax revenue generated by the booming AI-related industries. Speaking at a forum hosted by Kwanhun Club, an association of senior journalists, presidential adviser for policy Kim Yong-beom said the AI boom presents an opportunity to redraw Korea's industrial geography, drawing a parallel with how a manufacturing cluster in the southeastern region transformed Korea into an industrial powerhouse decades ago. He said the demand for chips has skyrocketed and companies are being pressed to advance their plans to construct relevant plants and facilities. While Samsung Electronics and SK hynix are currently building massive semiconduct

Jun 24, 2026By Yi Whan-woo
Jeolla region eyed for new semiconductor cluster: presidential policy chief
Politics

President ramps up regional growth blueprint, putting AI, chips at center

President Lee Jae Myung will introduce a sweeping growth strategy next week to spur balanced regional development in collaboration with the private sector, according to multiple officials from Cheong Wa Dae and business circles, Tuesday. The strategy will be presented at a public briefing on Monday set to be attended by business leaders from Samsung, SK, Hyundai Motor, LG and other major conglomerates. The plan is expected to serve as the Lee administration's first concrete blueprint for fostering artificial intelligence (AI), semiconductor and other cutting-edge industries beyond the Seoul metropolitan area, under a broader national transformation agenda for Lee's second year in office. The conglomerates are likely to outline domestically focused investment plans tied to their core businesses, including AI, semiconductors, data centers, future mobility, batteries and advanced materials. The government is expected to announce a package of support measures, including tax incentives, regulatory easing and assistance in securing electricity, water supplies and skilled workers for regional

Jun 23, 2026By Yi Whan-woo
President ramps up regional growth blueprint, putting AI, chips at center
Politics

Outgoing PM pledges to revive party ratings, prepares for party leadership race

Outgoing Prime Minister Kim Min-seok pledged efforts to lift public support for the Democratic Party of Korea (DPK) as he prepares to leave his post and focus on party affairs, signaling his intention to run for the party leadership. He implied that current DPK leaders, including Chairman Jung Chung-rae, were responsible for the disappointing results in the June 3 local elections and the downward trend in approval ratings for both the party and President Lee Jae Myung. Kim offered his evaluation of the party’s situation on Monday at a press conference, during which he also reviewed his experience as prime minister over the past year, which he is set to leave as soon as his successor is appointed. He is widely believed to be preparing to run in the party’s leadership race, in a national convention set for August. “Now is the time for the party and the administration to show perfect alignment and cooperation, and for the party to do more than it did before the elections to support the president's governance and work to raise overall support for both the party and the administration,

Jun 22, 2026By Yi Whan-woo
Outgoing PM pledges to revive party ratings, prepares for party leadership race
Politics

Lee looks to rebuild political momentum following diplomatic trip

President Lee Jae Myung appears to be trying to restore political momentum after returning from a 10-day diplomatic tour of Europe, Thursday, amid declining approval ratings and tensions within the ruling Democratic Party of Korea (DPK). On Friday, the president convened a press briefing on the outcome of diplomatic trip, which concluded Thursday, and also a meeting with senior presidential secretaries. The briefing was held amid speculation that the president believed the achievements of his trip had been overshadowed by domestic political issues, leading him to personally present the results instead of delegating the task to aides, as is customary. Meanwhile, Friday's meeting with senior presidential secretaries followed a previous gathering with corresponding aides in Seoul, Sunday, while Lee was in Italy for a state visit. Such a meeting was unprecedented, prompting speculation that Lee remained focused on developments at home even while abroad amid the fallout from the June 3 local elections. The DPK won most of the mayoral and gubernatorial races nationwide but lost the Seoul mayora

Jun 19, 2026By Yi Whan-woo
Lee looks to rebuild political momentum following diplomatic trip
Foreign Affairs

Lee says Trump believes time has come to refocus on North Korea

President Lee Jae Myung said Friday that U.S. President Donald Trump believes the time has come to pay attention again to North Korea, as he recounted his conversation with Trump on the sidelines of the G7 summit earlier this week. Lee also said he told Trump that North Korea's nuclear issue should not be approached in the same way that other countries' issues have been dealt with. He reiterated his earlier opinion that the U.S. is the only party capable of resuming dialogue with North Korea. "The topic we discussed at greatest length was North Korea's nuclear issue and how it should be approached going forward … President Trump said it is time to pay attention to the issue once again,” Lee said during a briefing on the outcome of his 10-day diplomatic tour of Europe through Thursday. The trip included participation in the G7 summit in France from Monday to Wednesday. Lee was seated next to Trump at the summit dinner on Tuesday, where the two leaders engaged in a conversation for more than 90 minutes on matters of mutual interest, reinforcing friendly ties, according to Cheong Wa Dae

Jun 19, 2026By Yi Whan-woo
Lee says Trump believes time has come to refocus on North Korea
Politics

DPK factional divide becomes more visible after local elections

A simmering factional divide within the ruling Democratic Party of Korea (DPK) has become increasingly visible nearly two weeks after the June 3 local elections, with loyalists of President Lee Jae Myung and party Chairman Jung Chung-rae exchanging mocking labels that lay bare the depth of the rift. The antagonism has proved more entrenched than many had assumed. Those aligned with the president have sought to disparage pro-Jung figures with a derogatory acronym: "Moon-Cho-Teol-Rae-Rhyu." The acronym, which references former President Moon Jae-in and four of his notable associates, including Jung, is crafted from syllables of their names and well-known personal traits of Moon and his allies — Cho Kuk, Kim Ou-joon, Jung and Rhyu Si-min. The former president remains a potent force within the DPK despite Lee having taken control of the party before being elected as president in June 2025. Cho served as Moon's justice minister, while Kim, a left-leaning journalist and broadcaster, is known for his trademark thick beard, earning him the nickname “teolbo,” or bearded man, from which the

Jun 18, 2026By Yi Whan-woo
DPK factional divide becomes more visible after local elections
Foreign Affairs

President to host dinner for diplomatic corps next Tuesday

President Lee Jae Myung will host a dinner reception next Tuesday for heads of diplomatic missions and representatives of international organizations in Korea, the presidential office said Thursday. The reception, to be held at Cheong Wa Dae, will bring together ambassadors representing all 118 resident diplomatic missions in Korea and delegates from 30 international organizations, presidential spokesperson Kang Yu-jung said in a written briefing. Among the guests will be Chafik Rachadi, Morocco's ambassador to Korea, who serves as dean of the diplomatic corps. Since 1998, Korea has regularly held presidential receptions for the diplomatic corps at Cheong Wa Dae to demonstrate its commitment to strengthening ties with foreign governments and to seek support and cooperation for major policy initiatives. This year's gathering will take place in Nokjiwon, a garden within the Cheong Wa Dae compound, for the first time since 2019. The presidential office returned from Yongsan District in central Seoul last year. Kang said the upcoming gathering reflects efforts to restore regular communication

Jun 18, 2026By Yi Whan-woo
President to host dinner for diplomatic corps next Tuesday
Foreign Affairs

Lee urges Trump to solve North Korea issue after Middle East deal

President Lee Jae Myung asked U.S. President Donald Trump to take the lead in peacefully resolving the North Korean issue, during a brief conversation on the sidelines of the G7 summit in France, the presidential office said. Senior presidential spokesperson Kang Yu-jung said Trump asked Lee about recent developments in inter-Korean relations in a written briefing, Tuesday. Lee replied that he hoped Trump would lead efforts for a peaceful resolution of the North Korean issue, just as he had helped conclude the Middle East conflict. Kang was referring to the tentative U.S.-Iran peace deal announced Sunday, which ends more than three months of war in the region. "President Trump responded by expressing his willingness to work toward resolving the North Korean issue," Kang added. The exchange took place during a group photo session at the G7 summit in Evian-les-Bains, France, where South Korea was invited as a guest country to the annual gathering of the seven member states — Canada, France, Germany, Italy, Japan, the United Kingdom and the U.S. As leaders assembled for the photograph, Lee

Jun 17, 2026By Yi Whan-woo
Lee urges Trump to solve North Korea issue after Middle East deal
Politics

Lee grapples with headwinds following local elections as party rift, ballot shortage issues deepen

President Lee Jae Myung is grappling with a difficult political moment at home, as a widening rift with ruling party leadership and a public backlash over ballot shortages in the June 3 local elections are pulling down his approval ratings. These political headwinds prompted Lee to remain focused on developments at home even during his diplomatic tour in Europe, leading to him convening an unprecedented virtual meeting with senior presidential aides in Seoul and commenting on political issues through social media. The unease between Cheong Wa Dae and the leadership of the ruling Democratic Party of Korea (DPK) has grown following the party's less-than-satisfactory local election results. The DPK won 12 of the nation's 16 metropolitan mayoral and provincial governorship elections. However, it lost the Seoul mayoral race — widely regarded as the bellwether of national elections. The outcome, coupled with defeats in closely watched battleground districts in the parliamentary by-elections held concurrently with the local elections, fueled criticism of DPK Chairman Jung Chung-rae and trigge

Jun 16, 2026By Yi Whan-woo
Lee grapples with headwinds following local elections as party rift, ballot shortage issues deepen
Law & Crime

Prosecutors seek warrants for HD Hyundai Oilbank employees in fuel-price collusion probe

Prosecutors are seeking arrest warrants for two employees of HD Hyundai Oilbank as part of an investigation into allegations that the country's four major refiners colluded to manipulate fuel prices, according to legal sources, Monday. The sources said the Seoul Central District Prosecutors' Office requested the warrants for two employees in the company's pricing division over allegations that the four refiners — SK Energy, GS Caltex, S-Oil and HD Hyundai Oilbank — coordinated in advance to raise or freeze prices of fuel and petroleum products sold in the domestic market. Prosecutors are expected to expand the investigation to other refiners once a court decides whether to approve the arrest warrants for the HD Hyundai Oilbank employees. The investigation centers on suspicions that the companies took advantage of heightened tensions in the Middle East to keep fuel prices at inflated levels. Prosecutors already searched the headquarters of the four refiners and the Korea Petroleum Association in March. The probe comes after President Lee Jae Myung called for a crackdown on illegal mark

Jun 15, 2026By Yi Whan-woo
Prosecutors seek warrants for HD Hyundai Oilbank employees in fuel-price collusion probe
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