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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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Foreign Affairs

Lee pledges $100 mil. to Ukraine in first summit with Zelenskyy at NATO meeting

ANKARA — President Lee Jae Myung had his first bilateral summit with Ukrainian President Volodymyr Zelenskyy on the sidelines of the NATO summit in Ankara, Wednesday. Lee announced a $100 million comprehensive support package for war-torn Ukraine, and they discussed how to handle North Korean prisoners of war (POWs) in the country in accordance with international law and humanitarian principles. "The president stressed that Korea will continue to provide humanitarian assistance needed by the Ukrainian people while also joining international efforts to support the country's recovery and reconstruction," Cheong Wa Dae spokesperson Kang Yu-jung said in a written briefing. According to Kang, Zelenskyy expressed gratitude for Korea's support and said he hopes to continue close cooperation with Korea and the broader international community to help bring about an end to the war and achieve peace and recovery. He also expressed hope for the continued interest and participation by the Korean government and companies in Ukraine's reconstruction. The two leaders agreed to address the issue of Nor

Jul 8, 2026By Yi Whan-woo
Lee pledges $100 mil. to Ukraine in first summit with Zelenskyy at NATO meeting
Foreign Affairs

Korea, NATO agree to open procurement talks for $9.9 bil. defense market

ANKARA — Korea and NATO agreed to open negotiations on a basic procurement agreement that would allow Korean defense companies to participate in NATO's joint procurement market, estimated to be worth 15 trillion won ($9.9 billion) annually, National Security Adviser Wi Sung-lac said Tuesday. Wi said the agreement was reached on the occasion of a meeting between President Lee Jae Myung and NATO Secretary General Mark Rutte in Ankara, where the NATO summit is being held from Tuesday to Wednesday. Lee is attending the summit at Rutte's invitation. "The agreement, once concluded, will provide an institutional framework for Korean companies to participate in NATO's joint procurement market," Wi said during a press briefing, pointing out that the market is estimated to be worth 15 trillion won per year. “The agreement would give Korea a foothold to enter NATO's defense market, the world's largest,” Wi added, referring to NATO's 32 member states, which make up the world's largest defense procurement market with a roughly 55 percent share of global defense spending. Wi said Korea and NATO

Jul 8, 2026By Yi Whan-woo
Korea, NATO agree to open procurement talks for $9.9 bil. defense market
Foreign Affairs

President calls for higher level of defense partnership between Korea, NATO

ANKARA — President Lee Jae Myung called for a higher level of defense partnership between Korea and NATO, Tuesday, with cooperation expanding beyond arms sales to the joint research, production and operation of weapons systems. In a keynote speech at the NATO Summit Defense Industry Forum on the sidelines of the NATO summit in Ankara, Lee underscored Korea's reputation as a trusted partner, saying it can ensure uninterrupted supply under any circumstances while safeguarding critical technologies. "I propose that we elevate our current defense cooperation, focused mainly on weapons system transactions, to a 'Korea-NATO Defense Industry Partnership 2.0,'" Lee said. He suggested expanding joint research on advanced technologies, expressing hope that Korea and NATO would launch more collaborative research initiatives similar to their existing cooperation programs on ammunition and space. Lee proposed strengthening defense cooperation in much the same way that members of the International Energy Agency jointly manage strategic oil reserves to respond to energy crises. Arguing that defense co

Jul 7, 2026By Yi Whan-woo
President calls for higher level of defense partnership between Korea, NATO
Foreign Affairs

President, NATO chief hold 1st in-person meeting as Korea eyes defense cooperation

ANKARA — President Lee Jae Myung and NATO Secretary General Mark Rutte held their first in-person meeting on the sidelines of the NATO summit in Ankara, Tuesday. The two leaders met after speaking by phone twice — first on July 3, 2025, shortly after Lee took office in June last year, and again on Feb. 10 this year — as the Lee administration seeks to expand defense exports and deepen strategic partnerships beyond Seoul’s traditional allies. Seoul has increasingly looked to NATO, whose 32 member states collectively account for about 55 percent of global defense spending and constitute the world's largest defense procurement market. NATO allies have also committed to a historic increase in defense spending, pledging to raise it to 5 percent of gross domestic product (GDP) in response to the changing global security environment. Rutte, speaking through an interpreter, greeted Lee, saying, "It's a great pleasure to meet you in person. Thank you for joining us, and thank you for your special efforts to ensure that relations between South Korea and NATO continue to grow stronger." Lee

Jul 7, 2026By Yi Whan-woo
President, NATO chief hold 1st in-person meeting as Korea eyes defense cooperation
Society

Paichai baseball team members apologize to Gwangju peers for disparaging chants

Students at a Seoul high school visited Gwangju Monday to formally apologize for chanting disparaging slogans about the 1980 Gwangju Uprising during a national baseball tournament last month. All 36 members of Seoul's Paichai High School baseball team visited Gwangju Jeil High School — the opposing team of which was targeted by the chants — for a reconciliation meeting. The 36 student athletes were accompanied by their headmaster, coaches, teachers and parents, bringing the delegation's total to 86 people. The visit was also accompanied by the superintendents of the Seoul and Gwangju regional education offices, Jung Keun-sik and Kim Dae-jung, respectively. "We sincerely apologize to the players and parents of Gwangju Jeil High School, as well as the citizens of Gwangju, who were deeply hurt by our inappropriate remarks and behavior," Paichai's team captain said, reading a written apology aloud before their Gwangju peers. "What we did was something that should never have happened between fellow athletes ... We know that our words and actions have hurt many people, and we will continue

Jul 6, 2026By Yi Whan-woo
Paichai baseball team members apologize to Gwangju peers for disparaging chants
Politics

Government eyes new fund to invest tax windfall from AI-driven chip boom

The government plans to establish a new fund to effectively invest windfall tax revenue generated by the semiconductor industry’s artificial intelligence (AI)-driven boom, presidential chief of staff Kang Hoon-sik said Sunday. He explained that the fund is intended to finance future priorities and challenges, including the government's three industrial megaprojects unveiled last week, as well as support for people in their 20s and 30s. "We must not spend the additional tax revenue resulting from the semiconductor upturn carelessly at this critical moment that will determine Korea's future," Kang said during a high-level meeting between the government and the ruling Democratic Party of Korea (DPK) at the prime minister’s official residence in Seoul. He went on to say the Lee Jae Myung administration plans to establish what he called a "future response fund" to use additional tax revenue as a "source of investment for future generations." “The creation of the future response fund will lay the foundation for realizing an ‘irreplaceable Korea,’” he added, calling for close cooper

Jul 5, 2026By Yi Whan-woo
Government eyes new fund to invest tax windfall from AI-driven chip boom
Foreign Affairs

Trump's Coupang stock trades raise conflict-of-interest questions amid diplomatic dispute

U.S. President Donald Trump repeatedly traded shares of Coupang Inc. through an asset management firm after beginning his second term, according to U.S. financial disclosure reports, raising questions over a potential conflict of interest in the company that has become a source of diplomatic unease between Korea and the United States. The reports, filed with the Office of Government Ethics (OGE) and released in May and again this month, show that Trump traded Coupang Inc. shares 18 times between October 2025 and May this year through two investment accounts. Trump is estimated to still hold up to $130,000 worth of common stock in U.S.-listed Coupang Inc., although it accounts for a relatively minor portion of his overall investment portfolio. Several senior foreign policy and trade officials in the Trump administration were also found to have received compensation from the company for speaking engagements, advisory work or consulting services before taking office, although they did not trade Coupang Inc. shares as Trump did. Among them were U.S. Trade Representative Jamieson Greer, who r

Jul 5, 2026By Yi Whan-woo
Trump's Coupang stock trades raise conflict-of-interest questions amid diplomatic dispute
Foreign Affairs

Korea's Coupang probe not discriminatory: presidential office

Cheong Wa Dae on Friday rejected a U.S. Congress report that accused Korea of discriminating against the U.S.-listed e-commerce giant Coupang during its investigation into a massive personal data breach. “Korea does not discriminate against corporate activities based on nationality or single out specific companies for investigation,” National Security Adviser Wi Sung-lac said in a press briefing. His remarks came after the U.S. House Judiciary Committee issued a report earlier this week criticizing the Seoul government for “discriminatory attacks” against Coupang. A White House official also argued that Coupang is being "singled out" by the Lee Jae Myung administration, when asked by a Korean media outlet for comment on the report. The 35-page report followed Korean authorities' investigations into Coupang's personal data leak, which is believed to have exposed the personal information of more than 33 million customers. “The report’s claims that the investigation is discriminatory, targeted or the result of unfair regulation are far from the facts,” Wi said. “It appears th

Jul 3, 2026By Yi Whan-woo
Korea's Coupang probe not discriminatory: presidential office
Foreign Affairs

President to embark on trip to NATO summit, Mongolia

President Lee Jae Myung will embark on a five-day, two-leg overseas trip next week, attending the NATO summit in Turkey before making a state visit to Mongolia, Cheong Wa Dae said Friday. It said Lee will travel to Ankara from July 7 to 8 to attend the NATO summit at the invitation of NATO Secretary General Mark Rutte, followed by a three-day state visit to Mongolia from July 9 to 11 at the invitation of President Ukhnaagiin Khürelsükh. The NATO summit will mark Lee's second major multilateral gathering in less than a month, following his attendance at the G7 summit in France, reflecting his administration's efforts to broaden Korea's diplomatic engagement. The summit also reflects the Lee government’s push to expand defense exports and deepen strategic partnerships beyond traditional allies. "The trip will further expand Korea's diplomatic outreach and, in particular, marks the beginning of a full-scale effort to strengthen defense industry cooperation with NATO allies." National Security Adviser Wi Sung-lac during a press briefing. He noted 32 NATO allies collectively account for 55

Jul 3, 2026By Yi Whan-woo
President to embark on trip to NATO summit, Mongolia
Politics

Lee proposes golf meeting with opposition lawmakers: PPP officials

President Lee Jae Myung has proposed a golf meeting with senior lawmakers from the People Power Party (PPP) as part of an effort to improve communication with the opposition, PPP officials said Thursday. They said a senior presidential official called three-term PPP lawmaker Shin Sung-bum in mid-June and invited him to join the president for a round of golf. The official said the meeting was intended to give Lee an opportunity to hear candid views and criticism from opposition lawmakers. The presidential office did not confirm the report. Shin, nevertheless, said, "I received a call from a senior Cheong Wa Dae official inviting me to play golf with the president." "The official said the purpose was for the president to meet opposition lawmakers and listen to their criticism," the lawmaker added. Shin said he declined the invitation because he does not play golf, but welcomed the idea. He added that he told the presidential official it would be worthwhile for the president to meet opposition lawmakers and hear their views on pending issues, including concerns over the government's handling

Jul 2, 2026By Yi Whan-woo
Lee proposes golf meeting with opposition lawmakers: PPP officials
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