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Yoon Ja-young

Korea Times AI content 1 team Reporter

Yoon Ja-young is in charge of articles translated by a generative AI system and edited by The Korea Times. She is interested in improving the newspaper through AI.

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Economy

NH Investment and Securities leading ETN market

NH Investment and Securities has been leading the exchange-traded notes (ETN) market, having launched diverse ETN products./ Courtesy of NH Investment and SecuritiesBy Yoon Ja-youngAn increasing number of investors are turning their eyes to exchange-traded note (ETN) as a mid-risk, mid-return investment tool, especially following the central bank’s slashing of the key rate to a historically low 1.5 percent. NH Investment and Securities has been leading the new market, with diverse lineup of ETN products.The investment return on ETNs is determined by diverse benchmark indices such as stocks, overseas stocks and foreign exchange rates. It is listed on the market to be freely traded like stocks.The biggest strength of ETNs is that they promise to pay the exact amount reflected in the index.On top of that, investors find ETNs attractive as they suggest investment strategies. “octo Big Vol ETN,” the first ETN launched by NH Investment and Securities, for instance, composed its portfolio based on the idea that “large stocks that had shown high volatility for past si

Jun 28, 2015By Yoon Ja-young
Economy

Stimulus criticized for lack of details

By Yoon Ja-youngThe hurriedly announced package of stimulus steps is unlikely to give a substantial boost to the economy as it is lacking in details, economists said Friday.They said one big uncertainty about the latest pump-priming is exactly how much the government will secure for the supplementary budget out of the 15 trillion won in total fiscal spending pledges it made.It faces an uphill battle to get approval for the supplementary budget at the National Assembly. At the same time, falling tax revenue will also restrict the government from aggressively spending tax money, they said.The spread of Middle East Respiratory Syndrome (MERS) prompted the government to set a supplementary budget to prevent the economy from further losing steam, but many economists doubt whether it will be effective.The government revealed the fiscal stimulus, Thursday, aiming to sustain this year’s economic growth rate at more than 3 percent. It includes setting a supplementary budget.However, analysts point out that the government has not come up with concrete plans.“The government said it

Jun 26, 2015By Yoon Ja-young
Economy

2nd-quarter growth likely to dip below 1%

By Yoon Ja-youngThe government said Thursday it will earmark 10 trillion won for a supplementary budget and spend an additional 5 trillion won from state funds in the second half of the year to boost the economy marred by the Middle East Respiratory Syndrome (MERS) epidemic.The outlook for growth this year was drastically cut from 3.8 percent to 3.1 percent with second quarter growth likely coming in at less than 1 percent.“We expected the economy to grow 1 percent in the second quarter, but this will be difficult now due to MERS,” Strategy and Finance Minister Choi Kyung-hwan said.The finance ministry said it had no other option but to cut its growth forecast as MERS had damaged consumption and the services sector.The outbreak is estimated to have reduced economic growth by between 0.2 and 0.3 percentage points.It added that even if the MERS outbreak stabilizes, weak consumer sentiment will continue for the time being, affecting the whole economy.“If we don’t take measures such as the supplementary budget, the economic growth rate for this year is expected to

Jun 25, 2015By Yoon Ja-young
2nd-quarter growth likely to dip below 1%
Economy

Concern over fiscal soundness growing

By Yoon Ja-youngThe government decided to set a supplementary budget to prop up the sagging economy, but concern is increasing that this will negatively affect its fiscal soundness.Government debt is expected to surpass 580 trillion won this year, with the ratio to GDP nearing 37 percent.Strategy and Finance Minister Choi Kyung-hwan said that the supplementary budget will deteriorate fiscal soundness for the time being. “However, if the economy fails to grow, it will aggravate fiscal soundness even further in the mid- to long-term. It is an inevitable measure,” he said, announcing the economic plan for the latter half of the year.“For the mid- to long-term, the government will prevent deterioration of fiscal soundness through reform and the adoption of strict regulations,” the minister said.He added that it would be inevitable to issue government bonds for the supplementary budget.Previously, it could use surpluses from tax or the central bank as high economic growth enabled it to collect more revenue than estimated.With the economic slowdown, however, the gov

Jun 25, 2015By Yoon Ja-young
Economy

Samsung launches new insurance for children

Samsung Fire and Marine Insurance launched “New Insurance that Satisfies Mom” which helps parents prepare for risks they face while raising children./ Courtesy of Samsung Fire and Marine InsuranceBy Yoon Ja-youngRaising children is a great joy, but it also involves a lot of risks.Samsung Fire and Marine Insurance has launched a new insurance policy for children that can help parents prepare for diverse risks.The “New Insurance that Satisfies Mom,” which is an upgraded version of Samsung’s insurance policy for children, has strengthened protection for expectant mothers.For instance, if an expectant mother is hospitalized for problems other than delivery, such as a miscarriage, morning sickness, gestational diabetes, cervical incompetency or preterm labor, the insurance policy will cover 80 percent of the hospitalization cost.As more women delay marriage and childbirth, concern is also increasing whether they can have a healthy baby.The new policy supports mothers with child rearing expenses for 10 years if the baby is diagnosed with cerebral palsy or Down

Jun 24, 2015By Yoon Ja-young
Samsung launches new insurance for children
Economy

Savings rate rising amid sluggish consumption

By Yoon Ja-youngThe country’s savings rate has risen to the highest level in 17 years as more people refrain from spending amid low economic growth.According to data from the government and the central bank, the country’s total savings rate was 36.5 percent in the first quarter of this year, rising from 35 percent one year ago. It is the highest figure since the third quarter of 1998 when it stood at 37.2 percent.By sector, the rise is mostly due to increasing savings by households. The savings rate of households rose for three consecutive years, recording 7.1 percent last year. The saving rate of the government, meanwhile, has been sliding for three years in a row, recording 6.9 percent last year.The rising savings rate, however, is not all good news as it reflects contracting consumption. Experts say that households are cutting consumption due to the burden of household debt and uncertainties over life after retirement.The country’s average propensity to consume has been falling during the past few years, to 72.9 percent last year from 76.7 percent in 2011.Lee Geu

Jun 23, 2015By Yoon Ja-young
Economy

Government to go for extra budget

By Yoon Ja-young The government is considering measures to boost the economy because of MERS, including a supplementary budget, the finance minister said Monday.“The government is thoroughly examining the damage to the economy incurred by Middle East Respiratory Syndrome (MERS),” Strategy and Finance Minister Choi Kyung-hwan told the National Assembly. “It has already damaged the economy considerably.”He said even if the MERS outbreak were contained early, the government would consider measures to prop up economic growth, including setting a supplementary budget.The comment comes amid increasing concern that MERS is damaging the economy, which has already been suffering a loss of growth momentum.The Korea Small Business Institute said Monday that the MERS outbreak could hamper economic growth for a quarter of the year because it was damaging small vendors and small manufacturers.“As the expansion of MERS slows down consumption and production of individuals, and affects exports in the mid to long term, it can hamper economic recovery,” the inst

Jun 22, 2015By Yoon Ja-young
Economy

More exchanges key to better ties

By Yoon Ja-youngSince the normalization of the ties in 1965, Korea and Japan have become close economic partners, indispensable to each other. The economic cooperation with Japan helped Korea become a global trade powerhouse, and Japan found a profitable market in Korea.During the past few years, however, political and diplomatic conflicts have been alienating the two countries, with trade and investment also decreasing. Experts advise that Korea and Japan should enhance economic cooperation for their mutual benefit, separating it from politics.“While implementing the five-year economic development plans in the 1960s, the Park Chung-hee regime used compensation from Japan. The Korean government used the money to set up POSCO, and actively adopted facilities, equipment and technology from Japan. That was the beginning of industrial cooperation between Korea and Japan,” said Sakong Mok, a research fellow at the Korea Institute for Industrial Economics and Trade.Since then, the two countries have become indispensable economic partners. Trade between Korea and Japan totaled $

Jun 19, 2015By Yoon Ja-young
More exchanges key to better ties
  • 1965 treaty leaves thorny issues unresolved
Economy

Korea, Central America start FTA talks

Trade, Industry and Energy Minister Yoon Sang-jick looks at documents before announcing the launch of Korea-Central America free trade agreement negotiations with his counterparts from six Central American countries — Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Panama — at the meeting held in Houston, the United States, Thursday./ Courtesy of the Ministry of Trade, Industry and EnergyBy Yoon Ja-youngKorea has started official negotiations with six countries in Central America about a potential free trade agreement (FTA). The deal is expected to benefit both Korea and Central America as the export items are complementary, officials said Friday.Trade, Industry and Energy Minister Yoon Sang-jick and his counterparts from Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Panama held a meeting in Houston, the United States, Thursday, where they declared the official start of negotiations.The six Central American nations form a regional bloc called SIECA, short for Secretaria de Integracion Economica Centroamericana, based on an agreement signed in 196

Jun 19, 2015By Yoon Ja-young
Korea, Central America start FTA talks
Economy

Minister pledges stimulus steps

Strategy and Finance Minister Choi Kyung-hwan speaks during a meeting with heads of research institutes at the Press Center in Seoul, Friday. / YonhapBy Yoon Ja-youngStrategy and Finance Minister Choi Kyung-hwan says the government will take “sufficient” stimulus steps swiftly to contain the fallout from Middle East Respiratory Syndrome (MERS).“Domestic consumption and the real estate market have been showing signs of recovery thanks to expansionary macroeconomic policy, the low oil price and low interest rate,” Choi said in a meeting with the heads of economic institutes, Friday.“However, uncertainties are increasing both externally and internally.”He said MERS was contracting consumption and the service sector. “We can’t exclude that it will be negatively affecting the economy if it persists,” he said.The minister said exporters were also having trouble due to the slowdown in China and weakening of the yen and euro.He said economic policy for the latter half of the year will focus on putting the economy back on the recovery trac

Jun 19, 2015By Yoon Ja-young
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