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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

Foreign ministry rejects Trump's claim over Korean ship sailing alone in Hormuz

The Ministry of Foreign Affairs on Thursday rebutted U.S. President Donald Trump’s assertion that a Korean-operated vessel was attacked as it was acting on its own without U.S. protection in the Strait of Hormuz — a focal point of the ongoing war between the U.S. and Iran. “The corresponding ship, for several days before the fire broke out, had been anchored in the relevant waters near the United Arab Emirates on the inner side of the Strait of Hormuz,” the ministry said in a statement. The remarks followed an explosion of unidentified cause that triggered a fire aboard the HMM Namu, a Panama-flagged bulk carrier operated by Korean shipping company HMM, Monday. Trump claimed the following day that the vessel had been struck by Iran for sailing without U.S. escort. Iran, through its embassy in Seoul, has since denied any involvement in the explosion aboard the Korean-operated ship. “Their ship was shot at. They were not in the cavalcade of ships they had. They decided to go it alone, and their ship got the hell knocked out of it yesterday,” Trump said, noting that Iran, on the

May 7, 2026By Yi Whan-woo
Foreign ministry rejects Trump's claim over Korean ship sailing alone in Hormuz
Politics

Lee pushes constitutional reform centered on curbing martial law

President Lee Jae Myung called for a phased constitutional reform, Wednesday, a day before a scheduled National Assembly vote on a ruling party-led bill primarily aimed at toughening conditions for declaring martial law. Speaking at a weekly Cabinet meeting, the president suggested a step-by-step approach, noting that the decades-old Constitution falls short of meeting today’s level of democracy, while a sweeping overhaul would nonetheless be burdensome. “Korea has undergone significant changes in political, economic and social aspects, yet the Constitution has remained virtually unchanged for over 40 years,” Lee said, highlighting that it was last revised in 1987. He compared Korea’s development to a body that has outgrown its clothes, using the metaphor to illustrate how the Constitution no longer fits the country’s realities. “With the current Constitution, it is difficult to fully guarantee the level of democracy in Korea today, the lives of its people, and the future of the nation … Our body has grown, but the clothes no longer fit — shouldn’t we fix the clothes?

May 6, 2026By Yi Whan-woo
Lee pushes constitutional reform centered on curbing martial law
Politics

PHOTO Children's Day at Cheong Wa Dae

President Lee Jae Myung, accompanied by first lady Kim Hea kyung and presidential aides, walks with children in the main building of Cheong Wa Dae during a Children's Day tour, Tuesday. About 200 children and their guardians were invited to the presidential compound to mark the annual celebration. Korea Times photo by Wang Tae-seog

May 5, 2026By Yi Whan-woo
[PHOTO] Children's Day at Cheong Wa Dae
Foreign Affairs

Korea discusses responses to explosion on Korean-operated ship in Strait of Hormuz

The government said Tuesday that it is taking all necessary measures to determine the exact cause and circumstances of an explosion aboard a Korean-operated vessel in the Strait of Hormuz, as U.S. President Donald Trump said Iran attacked the cargo ship. Its response came after the HMM Namu, a Panama-flagged cargo ship operated by Korean shipping company HMM, sustained damage after an explosion and fire broke out aboard the vessel, Monday (KST). The explosion happened on the same day the U.S. launched “Project Freedom,” aimed at guiding ships through the strait. It marked the first damage to a Korean vessel in the strait region since the U.S. and Israel began their war against Iran on Feb. 28. HMM Namu is one of the 26 stranded ships linked to Korea in the strait as a result of Iran's blockade. According to HMM, an explosion occurred in the engine room at 8:40 p.m., followed by a fire that was extinguished about four hours later. All 24 crew members — including six Korean nationals — were unharmed. It remains uncertain whether the vessel can resume normal operations. The ship is

May 5, 2026By Yi Whan-woo
Korea discusses responses to explosion on Korean-operated ship in Strait of Hormuz
Politics

President addresses livelihood concerns as local elections near

President Lee Jae Myung, together with his chief of staff for policy Kim Yong-beom, is intensively addressing social and economic issues associated with strain on public livelihood, in what is seen as an effort to shape public opinion ahead of the June 3 local elections. The issues span higher borrowing rates tied to lower credit ratings — a burden that falls disproportionately on lower-income households — as well as phone scams and illegal private lending that tend to victimize the same groups. Lee said in a post on X, formerly Twitter, Sunday, that borrowers are not obliged to repay “illegal lending that exceeds the legally permitted interest rate.” He also shared a news report on Friday saying the amount of financial damage from voice phishing had fallen by 45 percent. “It is truly a relief that such losses have decreased in such a short period of time," he said. Meanwhile, Kim published a series of three Facebook posts from Friday to Sunday, raising concerns about a structural disparity in which lower-income, lower-credit borrowers pay higher interest rates despite their gr

May 4, 2026By Yi Whan-woo
President addresses livelihood concerns as local elections near
Foreign Affairs

Korea weighs Hormuz mission options led by US, UK-France coalitions

Korea’s commitment to freedom of navigation at the Strait of Hormuz has become complicated as the United States has proposed a new initiative for this purpose, while Seoul remains engaged in separate talks for a coalition led by the United Kingdom and France. With President Lee Jae Myung promising Korea’s “practical contribution” to ensuring maritime security in the strait, the government is expected to weigh participation in the two separate initiatives by considering their diplomatic, economic and military impacts. A Ministry of National Defense official said Saturday that the government would “carefully review its position concerning the Maritime Freedom Construct (MFC),” referring to the new U.S. initiative announced last week to ensure safe passage of ships through the strait. A vital energy shipping route, the Strait of Hormuz has been effectively blocked by Iran since the U.S.-Israel war against Iran began on Feb. 28. Around 70 percent of Korea’s imported crude oil passes through the strait. “We are taking into account relevant issues in a comprehensive manner, inc

May 3, 2026By Yi Whan-woo
Korea weighs Hormuz mission options led by US, UK-France coalitions
Foreign Affairs

Diplomatic, trade burdens intensify as Coupang founder designated de facto controller

E-commerce giant Coupang is adding strain to Korea’s diplomatic and trade relations with the United States after its Korean American founder, Kim Bom-suk, was named the company’s legal controlling figure by Seoul’s antitrust watchdog, Wednesday. Kim’s inclusion on the Fair Trade Commission’s (FSC) list places him under more regulatory scrutiny, which analysts say could intensify debate over what some U.S. lawmakers have alleged amounts to “discriminatory regulatory action” against Coupang. Analysts also said the controversy could further disrupt security relations, with National Security Adviser Wi Sung-lac acknowledging last week that the issue has gone beyond a mere business matter and has spilled over into security concerns. Wi referred to delayed negotiations on nuclear-powered submarines, including uranium enrichment and reprocessing. “The FTC’s watchlist has raised speculation that if Coupang's founder is named as the controlling figure, it could have a negative effect on free trade agreements,” a private economic think tank researcher, who asked to remain anony

Apr 29, 2026By Yi Whan-woo
Diplomatic, trade burdens intensify as Coupang founder designated de facto controller
Politics

Presidential Security Service holds elite training for UAE agents in long-standing cooperation

The Presidential Security Service (PSS) recently conducted a commissioned training in Seoul for presidential security agents from the United Arab Emirates, the agency said Wednesday. The elite training was part of efforts to enhance high-level cooperation between the two countries in military, security, counterterrorism and special operations since 2010. The program took place at the PSS training institute in western Seoul, where 10 UAE agents tasked with presidential protection underwent a four-week course from March 30 to April 24. The course was customized to reflect the UAE’s requirements while incorporating Korea’s advanced protective service capabilities, according to the PSS. The first two weeks focused on security theory and basic skills, while the final two weeks covered advanced protection techniques and scenario-based response training. “We hope this training will serve as an opportunity to further strengthen security cooperation between our two countries,” PSS chief Hwang In-kwon said, noting that the UAE has been a key partner of Korea, with the two sides formally est

Apr 29, 2026By Yi Whan-woo
Presidential Security Service holds elite training for UAE agents in long-standing cooperation
South Korea

Korea's top AI official quits for Assembly by-election, raising doubts over DPK candidate strategy

Ha Jung-woo, senior presidential secretary for AI (artificial intelligence) policy and future planning, confirmed his resignation Tuesday in what is widely seen as a prelude to a parliamentary by-election bid on June 3. The move drew criticism over the vacancy it will create at the top of the government's AI strategy and raised questions about whether the ruling Democratic Party of Korea (DPK) needed to recruit sitting presidential aides as candidates. The bid is regarded as suitable given Ha’s public-friendly profile, especially considering that the by-elections, scheduled to be held concurrently with the quadrennial local elections, have expanded to more than a dozen constituencies and include contested regions. However, some say the decision was inconsiderate, as Ha was appointed less than 10 months ago and the DPK has a broader pool of talent to draw from. Criticism is also emerging from within the ruling party, with one official saying, “Ha’s decision to run in a by-election is out of the blue, at a time when the government should be laying the groundwork to become a top-thre

Apr 28, 2026By Yi Whan-woo
Korea's top AI official quits for Assembly by-election, raising doubts over DPK candidate strategy
Politics

Google to open AI campus in Korea

Google will open an artificial intelligence (AI) campus in Korea within this year in line with the Korean government’s expanded cooperation with global AI companies, a senior Cheong Wa Dae official said Monday. Kim Yong-beom, presidential chief of staff for policy, said the envisioned campus is anticipated to facilitate Google's cooperation with startups and researchers in Korea. It will be the first in the world outside the United Kingdom, where its AI research lab Google DeepMind is headquartered. Kim said Demis Hassabis, co-founder and CEO of Google DeepMind, disclosed the plan during his meeting with President Lee Jae Myung at Cheong Wa Dae. "Hassabis agreed to actively consider dispatching Google researchers to Korea," Kim said. "The CEO instantly accepted our request to send at least 10." The meeting came as Korea strives to become one of the world’s top three AI powerhouses, alongside the United States and China. Lee and Hassabis discussed a range of cooperative measures, such as advancing the country's AI ecosystem and promoting the responsible use of related technologies. The

Apr 27, 2026By Yi Whan-woo
Google to open AI campus in Korea
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