Journalist
Lee Hugh
=
-
Korea’s ELS-Linked Issuance Rebounds to 95 Trillion Won as Markets Stabilize A market slump in derivative-linked products has begun to ease on the back of a rebound in global stocks and steadier interest rates, with issuance rising sharply in principal-protected derivative-linked bonds. Still, regulators said investor caution tied to past losses has not fully faded, underscoring the need to understand product structures before investing. According to the Financial Supervisory Service on Tuesday, issuance of derivative-linked securities and bonds in 2025 totaled 94.9 trillion won, up 21.3 trillion won from a year earlier. Redemptions over the same period came to 81.2 trillion won, down 5.1 trillion won. With issuance exceeding redemptions, the outstanding balance at year-end was tallied at 95.1 trillion won, recovering to the level seen at the end of 2023. The balance had fallen to 81.6 trillion won in 2024, the lowest since 2014 (84.1 trillion won), as demand slumped amid concerns over ELS losses following a sharp drop in Hong Kong’s H index and sales suspensions by major banks. By product, both derivative-linked securities and derivative-linked bonds posted growth of about 30%. Issuance of derivative-linked securities rose 5.7 trillion won, or 28.6%, to 25.8 trillion won, led by index-linked ELS. Derivative-linked bond issuance increased 15.6 trillion won, or 29.2%, to 69.1 trillion won, largely reflecting stronger demand for principal-protected products in the retirement pension market. The FSS data also showed shifts in product structure. Among derivative-linked securities, no-knock-in products still accounted for the majority at 60.0%, but that was down 7.3 percentage points from 67.3% a year earlier. For knock-in products, low knock-in structures made up 95.8%. All derivative-linked bonds were issued with no-knock-in structures. Returns improved overall. In 2025, the annualized return on products redeemed early or at maturity was 6.4% for derivative-linked securities and 3.7% for derivative-linked bonds. A year earlier, the figures were -4.7% and 4.0%, respectively. By type, annualized returns were 7.8% for ELS, 2.1% for DLS, 4.0% for ELB and 3.3% for DLB, with equity-based products performing relatively better. “Risk can increase as the number of underlying assets rises or as the offered yield gets higher, so investors should decide only after fully understanding the product structure,” an FSS official said. The official said the agency will closely monitor risk factors, including issuance trends, and guide financial firms to ensure investors receive adequate risk disclosures. * This article has been translated by AI. 2026-05-06 16:18:00 -
UNIST to Launch GRIT Interdisciplinary Program in 2027 to Train Question-Driven Talent Ulsan National Institute of Science and Technology, or UNIST, said it will launch a new undergraduate division, the GRIT Interdisciplinary Program, in 2027, aiming to help students design their own majors and academic paths. The school said the program is meant to move beyond department-centered education in an era when artificial intelligence can quickly produce answers, and instead strengthen students’ ability to form questions and map out lines of inquiry. UNIST said on May 6 it will separately admit about 10 freshmen a year starting in 2027 through a dedicated GRIT admissions track. The program will be built around project-based inquiry education. Students will combine foundational and research-oriented courses to create individualized curricula, then complete both personal projects and team-based interdisciplinary projects. Each student will be assigned a dedicated faculty mentor for one-on-one guidance throughout their studies and research. Kim Cheol-min, head of the GRIT Interdisciplinary Program, said the school is preparing an approach in which “one persistent question a student asks can become a major explored over four years, and a record of failure and trying again becomes a personal portfolio.” In the AI era, he said, it is important not only to find answers quickly but also to endure uncertainty and “design questions” in areas without clear answers. UNIST said it will also differentiate evaluation. The program will use a P/NR (Pass/No Record) system to reduce the burden of failure and encourage ambitious inquiry. Graduates will receive either a bachelor’s degree in interdisciplinary science or interdisciplinary engineering. The major title designed by the student will be officially listed on the academic transcript. UNIST introduced the GRIT program’s education philosophy to students and residents during “UNIST Open Stage 1,” held May 6 at the main auditorium of its administration building. Lee Sedol, a UNIST special professor, referred to his experience teaching a board game design course and interacting with students. “If you make rules, set criteria for choices, and think about why you make those judgments, your experience with baduk naturally connects to other fields,” he said. Lee Chang-ho, described as a baduk titleholder, echoed the program’s emphasis on student-driven inquiry, saying that a student’s persistent question can become a four-year field of study and that a record of failure and renewed attempts can become a personal portfolio. He also said that in the AI era, the attitude of designing questions matters. UNIST President Park Jong-rae said universities should be places that build students’ capacity to create their own questions, endure failure and find solutions on their own. He said the event, using baduk as a symbolic medium, showed that uniquely human perseverance, creativity and judgment are key conditions for future talent. UNIST said it plans to continue introducing the GRIT Interdisciplinary Program to residents and students through a range of events. Later this month, it said, a screening and artist talk are scheduled with media artist Kim A-young, a UNIST special professor. * This article has been translated by AI. 2026-05-06 16:07:27 -
Lee Sedol, Lee Chang-ho warn against overreliance on AI: Humans must make answers their own "AI can show you a good move, but turning that answer into your own is ultimately a human task." As artificial intelligence rapidly expands into areas once considered uniquely human, two of South Korea’s best-known Go players said the skills that will matter most are the ability to ask the right questions and to make independent judgments. Lee Sedol, a distinguished professor at Ulsan National Institute of Science and Technology, and Lee Chang-ho, a top Go titleholder known for his calm style, spoke May 6 at UNIST in Ulsan during a talk concert titled “UNIST Open Stage 1” and at a briefing beforehand. They said AI should not be treated as a simple “answer machine.” Lee Sedol pointed to AlphaGo Zero and said that in an era when AI can evolve beyond human data, cooperation matters as much as use. He said watching AI play moves once taught as taboo made him realize how much people can be trapped by education and convention, adding that those who grasp AI’s message will move ahead. Lee Chang-ho said he initially struggled to accept AI’s unconventional moves, but later saw many as strong ideas that break fixed thinking. Still, he warned against blind trust, saying people should think deeply on their own and ask for help only when they truly need it. He said real synergy comes when a person has established a personal style and then uses AI support. Lee Sedol also described the personal strain AI brought to professional Go. He said studying with AI was so difficult it contributed to his decision to retire earlier, and that thinking about what younger players face weighs on him. Looking back on his 2016 match against AlphaGo, he said he would accept the challenge again but would prepare more thoroughly, adding that he regretted brushing aside expert advice at the time. He also said he was careless after winning Game 4 when he told Demis Hassabis that AI did not seem able to beat humans. Lee said it was a shameful answer to a question that could bring enormous change. On broader social impact, Lee Sedol said the loss of existing jobs during the transition is unavoidable, but that distinctly human value will rise. He said society should guard against a dystopia in which people lose control of their thinking or AI technology is monopolized by a small group in power. Lee Chang-ho said the AI era could make fundamentals even more important. He said a strong base — including humanities literacy and reading — would help people protect themselves from AI-related risks. In the talk that followed, both men framed AI not as a simple matter of winning and losing but as a matter of interpretation. They said that as AI produces more correct answers, what matters is not the answer itself but the ability to understand it and connect it to one’s own judgment. Lee Sedol said what matters more than AI’s strength is what new questions people can ask after seeing its answers, adding that judgment is needed to make choices in unfamiliar situations. Lee Chang-ho said seeing the right answer and understanding the path to it are different, and that even if AI suggests a good move, making it one’s own remains a human responsibility. * This article has been translated by AI. 2026-05-06 16:06:23 -
Why AI Is Moving Back Under Government Control, Jensen Huang’s Comments Highlight Nvidia CEO Jensen Huang’s words were brief but widely noted: “I believe the government will use technology correctly.” He made the remark at the Milken Global Conference in Los Angeles, in what amounted to more than a routine CEO opinion. It underscored how the global order around artificial intelligence is shifting. Huang called AI company Anthropic “a great company,” but said he disagreed with efforts to limit AI use for national security purposes. He added that “a CEO is not an elected official,” signaling that companies should not stand in the way if a government seeks to use technology to protect the public. The attention reflects a deeper split inside the U.S. AI industry. One camp views AI as a core strategic asset for national security. The other warns that militarizing AI could create uncontrollable risks. Huang has publicly aligned closer to the first view. For years, Silicon Valley often tried to keep its distance from state power, shaped by a strong libertarian culture and skepticism of regulation and military involvement. A prominent example was employee backlash at Google over the Pentagon’s drone-analysis effort known as Project Maven, when many argued AI should not be used as a tool of war. That mood has shifted sharply. One driver has been China. The United States has grown more alarmed as it watches China treat AI not merely as an industrial technology but as a national strategic capability. China is already pursuing a civil-military fusion strategy, effectively erasing the boundary between civilian and military technology. Across drones, facial recognition, surveillance systems, intelligence analysis and cyberwarfare, AI is moving quickly into military structures. The war in Ukraine has also been a jolt, showing how AI and data can reshape modern battlefields. Satellite-image analysis, drone strikes, real-time information processing and the speed of electronic-warfare responses have changed dramatically. Warfare has become less about raw firepower and more about who can process data and make decisions faster. The U.S. security establishment is absorbing that lesson. OpenAI, Google, Microsoft, Amazon Web Services and Nvidia have expanded cooperation with the U.S. Defense Department for the same reason. During the Cold War, U.S. security relied heavily on traditional defense contractors such as Lockheed Martin. Now the structure is changing. Warships and fighter jets alone are no longer enough to sustain dominance. National security is increasingly tied to semiconductors, cloud computing, AI models and data centers — a new “digital security complex” layered on top of the traditional military-industrial base. Huang’s comments fit within that broader shift. His stance is closer to realism than idealism: if rivals are arming, the argument goes, the United States cannot tie its own hands. The U.S. government has also begun treating AI as strategic infrastructure. U.S. controls on semiconductor exports to China are not simply a trade issue, the column argues, but part of an AI power competition. Concerns about militarizing AI, however, have not disappeared — and may be intensifying. AI differs from nuclear weapons. Nuclear arms are confined to specific facilities, but AI permeates daily life, from search and finance to health care, media, education, transportation and social media. The line between military and civilian AI is also blurring, with the same models used for intelligence analysis and consumer services. As a result, the debate is not only about weapons. It is increasingly about how to govern entire social systems. That is also why Anthropic has clashed with the U.S. Defense Department. The company has not rejected military use outright, but has sought limits on mass surveillance of Americans and on fully autonomous weapons. The problem, the column says, is that the U.S. government has grown increasingly uncomfortable with such constraints. One reason is speed: the pace of the battlefield is beginning to exceed human decision-making. Modern combat is accelerating. In environments shaped by hypersonic missiles, drone swarms and real-time cyberattacks, relying only on human reaction can be difficult. When thousands of drones move at once, people cannot press an approval button for each action. Militaries, the column argues, will push for more AI automation. That creates a major ethical collision. How far should AI be allowed to go in making judgments and deciding to strike? Keeping strict human control can reduce military efficiency. Allowing full automation can collapse accountability. Who is responsible — the developer, the soldier, the state, or the algorithm? The world does not yet have an answer. International debate is shifting from whether militarization can be stopped to how far it should be permitted. The issue is not simply idealism versus realism, the column argues, but a clash between national survival and democratic values. National security is inherently secretive, while democracy demands oversight. If governments and big tech expand AI military projects in secrecy, public control can weaken. If everything is disclosed, security functions can be undermined. The AI era is forcing democracies to confront a familiar question: where to draw the line between security and civil liberties. That dilemma existed in the Cold War, when the United States and the Soviet Union competed to build nuclear weapons while also pursuing arms-control agreements — not out of trust, but because the risks became too great. AI may follow a similar path, but with key differences. Nuclear weapons were largely monopolized by states; AI is driven by private companies, and models can spread globally through internet connections far faster than nuclear technology. That is one reason setting AI rules may be harder than nuclear arms control. Still, the column argues, some boundaries are necessary. That is why discussions are emerging about limiting at least the most dangerous areas, such as fully autonomous nuclear launch systems or mass civilian surveillance. In practice, it says, limited norms focused on what to prohibit may come before any broad AI disarmament. Silicon Valley is changing along with the debate. AI companies are moving deeper into national security systems as investment needs soar and data centers and semiconductor supply chains become tied to national strategy. They are no longer just startups, but increasingly part of strategic industries. That is why Huang’s remark matters, the column concludes. It was not simply a pro-government statement, but a sign of where power is shifting in the AI era — and of technology companies beginning to align again with the state. South Korea, the column adds, is not immune. AI is linked not only to platforms but also to semiconductors, defense, finance, health care, media, education and information systems. Seoul is likely to treat AI not only as industrial policy but also as a security strategy. The key, it argues, is direction, not speed. As competition intensifies, governments may seek stronger control. If security logic overwhelms everything, democratic freedoms can shrink quickly. If ethics and regulation dominate, anxiety about falling behind in technology will grow. What matters next is not a simple yes-or-no debate, the column says, but building social standards around how far to allow AI, what risks to accept and who bears final responsibility. Huang described the reality. Anthropic warned of the risks. The world, the column concludes, is beginning to search for a new balance between the two.* This article has been translated by AI. 2026-05-06 16:02:04 -
Samsung Electronics Joins $1 Trillion Market Cap Club Samsung Electronics has entered the $1 trillion market capitalization club, topping 1,500 trillion won in intraday value and crossing the $1 trillion mark. It is the second Asian company to do so after Taiwan’s TSMC. The move places Samsung alongside global mega-cap companies such as Nvidia, Apple, Microsoft, Amazon, Alphabet, Broadcom, TSMC, Aramco, Meta and Tesla, reflecting renewed investor attention to its broad footprint in semiconductors, mobile devices, home appliances, displays and the AI supply chain. The company’s rise is rooted in a three-generation narrative often described in Korea as building industry to strengthen the nation. Founder Lee Byung-chul laid early foundations through trade, manufacturing, finance and talent development. Chairman Lee Kun-hee drove a shift in quality and competitiveness, famously urging employees to “change everything except your wife and children,” a message tied to sweeping internal reform and a push for leadership in semiconductors. The current era under Chairman Lee Jae-yong faces a new set of tests as AI semiconductors, high-bandwidth memory, foundry manufacturing, bio, robotics and next-generation communications converge into a more complex competitive landscape. Analysts and industry watchers say the milestone is not an endpoint. The global semiconductor order is being reshaped as Nvidia dominates AI accelerators and TSMC maintains a commanding position in foundry services and customer relationships. Broadcom is expanding AI infrastructure with custom chips, while Apple combines chip design with its services ecosystem to strengthen its consumer business. Samsung remains a powerhouse in memory, but the article argues that memory leadership alone will not be enough in the AI era without strength in HBM, advanced packaging, foundry yields, design capabilities and software ecosystems. Inside the company, debate over performance bonuses has intensified. The union is calling for what it describes as a fair distribution of results, while the company stresses long-term investment and maintaining competitiveness. The dispute, the article says, goes beyond wages to a broader question of corporate purpose: whether a company is mainly a vehicle to share short-term gains or a community built for long-term survival. The article also points to a basic principle of capitalism: after workers are paid wages, suppliers are paid, creditors receive interest and the state collects taxes, shareholders are the last to claim what remains. It argues shareholders’ claim is tied to risk, because they are last in line to absorb losses. At the same time, it says workers on the front lines of the semiconductor industry are raising a legitimate demand to share in performance, and that the key issue is how to do so without undermining the company’s future. It cites long-term stock-based compensation, employee stock ownership and restricted stock units as possible structures that align incentives, noting that U.S. big tech companies are often seen as strong in part because employees can share in growth. The article calls for a clear role for government and politics, warning that treating Samsung as a target for political redistribution can turn the company into a battleground. It urges support through taxes, power supply, water, talent development, research and development, deregulation and diplomatic backing, while calling on business and academia to focus on structural solutions and on labor to weigh responsibilities alongside rights. It also argues the public should see Samsung not only as a target of criticism but as a pillar of national competitiveness. As a cautionary backdrop, the article cites Yahoo, Nokia and Cisco as examples of technology leaders that later struggled, arguing that reaching the top can increase risk and that past success does not guarantee future survival. It says Samsung’s $1 trillion valuation reflects an assessment of past performance, not a guarantee of what comes next. The article says Samsung’s path forward requires staying ahead in technology, maintaining market trust, building a more agile organization and evolving labor-management relations toward a shared fate. It frames the central challenge as balancing short-term payouts with long-term investment, and labor with capital, warning that leaning too far in any direction can weaken competitiveness. Global outlets and banks highlighted similar themes, the article says. Reuters described Samsung’s $1 trillion breakthrough as reflecting expectations for AI semiconductors, while saying future competitiveness will be decided in foundry and HBM. The Financial Times said Samsung is a memory leader but argued that winners in the AI era will be companies that control ecosystems, pointing to the need for structural change. Goldman Sachs said Samsung’s future value depends not only on near-term results but on long-term technology leadership and sustained investment. The article concludes that Samsung now faces choices over how much to invest versus how much to distribute, and whether to push for the next leap or settle for current gains, arguing that the “nation-building through enterprise” approach remains relevant but the road ahead is tougher than before.* This article has been translated by AI. 2026-05-06 16:00:23 -
Gallery Yujeong to Open Kwon Doo-hyeon’s ‘Length’ Painting Exhibition “Selling out during a downturn was no accident.” Gallery Yujeong will present “Length,” the second solo exhibition by painter Kwon Doo-hyeon, whose previous show drew attention after all works sold despite a sluggish art market. The exhibition is also the second series in his project, “Width, Length, Height and Depth.” It runs from May 9 to June 19. Following the earlier “Width” show, “Length” interprets the fundamentals of painting through the idea of distance, focusing on bringing unseen wind and the passage of time onto the canvas. The gallery said the earlier exhibition recorded steady sales across sizes, from large No. 80 works to small pieces under No. 10, even as the broader market weakened. It added that figures in the arts, including classical music critic Jang Il-beom, visited and acquired works, which it said supported Kwon’s stable market value. In “Length,” Kwon shifts from spatial reflection to an expanded gaze and a sense of distance. His canvases are filled with blue skies, green fields and a horizon that appears to stretch on. Viewers’ eyes move from nearby blades of grass toward a distant, fading point, allowing them to experience “length” directly. The works depict invisible wind through swaying grass and the artist’s dense, textured brushwork. The gallery also emphasized the connection between the works and the venue. The exhibition spaces, “Space Ellie” and “Space Elliot,” are arranged to use contrasts of light and visitor flow so audiences can study texture and color. The open view of Seoul from the 12th floor of the Duam Building is presented as a natural extension of the horizon theme. Kwon, who worked at the studio of the Leipzig contemporary art platform halle 14 in Germany, has focused on expressing an East Asian sensibility through Western painting techniques. His method of building density through repeated brushstrokes and leaving traces of time has been described as similar to Gerhard Richter’s approach to painterly exploration. A Gallery Yujeong official said the exhibition is meant to go beyond a simple opening event and to reinforce the gallery’s artistic standards. The official said the series will continue with “Height” and “Depth” to present the artist’s world in greater dimension. The exhibition is open Tuesdays through Saturdays from noon to 5 p.m.* This article has been translated by AI. 2026-05-06 15:58:51 -
Coupang Posts 12.46 Trillion Won in Q1 Revenue but Swings to Operating Loss Coupang posted 12 trillion won in first-quarter revenue but swung to an operating loss of about 350 billion won, weighed down by costs tied to a personal data breach and inefficiencies in its logistics network. Coupang Inc. Chairman Kim Beom-seok said Wow, the company’s paid membership service, is rebounding after last year’s breach but will take time to fully normalize. Coupang Inc. said on the 6th (Korea time) that first-quarter revenue rose 8% from a year earlier to 12.4597 trillion won, from 11.4876 trillion won. It reported an operating loss of 354.5 billion won, its largest in 4 years and 3 months. Net loss totaled 389.7 billion won. On a conference call, Kim said product commerce revenue growth hit its low point in January, then improved each month year over year, with the pace of improvement accelerating in February and March. He said most existing customers and Wow members did not leave after the breach and continued to increase spending. As of the end of last month, he said, rejoining by former members and growth in new sign-ups restored about 80% of the Wow membership decline after the incident. A key driver of the loss was the purchase credits issued to customers affected by the data breach. In January, Coupang provided 50,000 won in purchase credits to each of 33.7 million affected customers, for a total cost of 1.685 trillion won. Kim said the credits were a one-time item, with most of the impact limited to the first quarter, though some effects were expected to continue into early in the second quarter. Kim also cited logistics-network inefficiencies. Coupang has expanded facilities and adjusted supply-chain planning to match predictable demand patterns, but the external shock from the breach left actual demand below planned levels, creating idle capacity and inventory costs, he said. Kim said efforts continue beyond recovery to strengthen the business. He said the company is introducing automation and artificial intelligence across logistics and delivery networks to raise service levels while cutting costs, which he said should help improve customer experience and expand margins over time. Among overseas operations, Kim pointed to Taiwan as a key growth engine. He said Coupang’s in-house last-mile network that guarantees next-day delivery now covers most volume in Taiwan and continues to expand. He said providing the full Rocket Delivery service lineup in Taiwan remains at an early stage, but customer response has been strong, and the company will focus this year on building a top-tier customer experience and a foundation for long-term growth there. The conference call also addressed the issue of Korea’s designation of Coupang’s “same person,” a label used to identify a controlling owner. CFO Gaurav Anand said the company is aware of the designation in Korea and is reviewing it closely, adding that Coupang is committed to complying with regulatory requirements in every market where it operates. The Korea Fair Trade Commission recently changed Coupang’s designated controlling owner from the corporation to Kim personally. The change increases scrutiny of governance-related rules and subjects the company to regulations on unfair private benefits. Coupang has said Kim meets conditions for an exception and plans to contest the designation through an objection and an administrative lawsuit. 2026-05-06 15:57:28 -
Chinese Hires at Samsung, SK Hynix Plants Seek Higher Bonuses, Report Says Samsung Electronics and SK Hynix are facing calls from locally hired employees in China to raise performance bonuses, and the issue has drawn a wave of reaction online in South Korea. Newdaily reported on the 6th, citing multiple industry sources, that Chinese employees at Samsung Electronics’ semiconductor plant in Xi’an and SK Hynix’s semiconductor plant in Wuxi are pressing for higher bonuses. An industry source quoted by Newdaily said local hires at overseas units “know how much people at headquarters receive” and are “making a fuss” for more, adding that portals such as China’s Baidu have been carrying news about Samsung Electronics’ and SK Hynix’s results and bonus payouts. On whether bonuses for local hires in China would be raised, Newdaily also quoted an SK Hynix official as saying the company operates its bonus system “to fit the characteristics of each country.” According to Newdaily, SK Hynix is aware of the demands. The Wuxi plant is described as a key base that produces about half of the company’s D-RAM output, and SK Hynix’s workforce in China is reported to total at least 4,000 people. South Korean internet users who saw the report posted largely negative comments, including: “It’s chaos everywhere,” “Things are turning into a mess in no time because of the Yellow Envelope Act,” “People who say subcontractors should get bonuses must think China should get handouts, too,” “They’re making a racket at home and abroad,” “Did they give back pay when the industry was bad? Investors take that risk, so I get it,” and “Looks like they want to jump in globally for a share.”* This article has been translated by AI. 2026-05-06 15:56:40 -
National Assembly Speaker Woo asks People Power Party leader Jang to back constitutional amendment vote National Assembly Speaker Woo Won-shik on May 6 again asked People Power Party leader Jang Dong-hyeok to cooperate on a floor vote on a constitutional amendment bill, a day before it is to be brought to the plenary session. Jang reaffirmed his opposition, saying it is not appropriate to discuss constitutional revision while the ruling party is pursuing what he called an unconstitutional special counsel probe. Woo visited the People Power Party leader’s office at the National Assembly and met with Jang. After the meeting, Woo told reporters he had asked for cooperation ahead of the May 7 vote on the amendment. Jang was reported to have reiterated that his party’s position is to oppose the amendment bill. He also cited the Democratic Party’s April 30 introduction of a special counsel bill titled the “special counsel bill to uncover the truth behind allegations of manipulated investigations and indictments by the Yoon Suk Yeol administration,” and voiced strong opposition to moving ahead with constitutional revision. Speaking to reporters, Jang criticized what he described as unconstitutional moves, including increasing the number of Supreme Court justices, adopting a four-tier court system and a “special counsel to cancel indictments.” “It is contradictory and unacceptable to even talk about constitutional revision while engaging in such unconstitutional behavior,” he said. “More important than constitutional revision is an attitude of respecting the current Constitution.” Lawmakers from six parties excluding the People Power Party — the Democratic Party, the Rebuilding Korea Party, the Progressive Party, the New Reform Party, the Social Democratic Party and the Basic Income Party — along with independents, totaling 187 lawmakers, introduced the constitutional amendment bill on April 3. The bill would add the spirit of the Bu-Ma Democratic Protests and the May 18 Democratization Movement to the Constitution’s preamble and strengthen National Assembly control over a president’s declaration of martial law. The People Power Party has opposed the bill, calling instead for a special committee on constitutional revision to be formed after the June 3 local elections to discuss the issue comprehensively. Woo and the six parties backing the bill favor a “step-by-step” approach, revising provisions that draw no disagreement first. Woo and the Democratic Party plan to submit the amendment bill to the plenary session on May 7, aiming to hold a national referendum on the amendment at the same time as the June 3 local elections. With the People Power Party opposing the bill as a party line, however, passage remains uncertain. Approval requires support from at least two-thirds of all lawmakers. The National Assembly currently has 286 members, meaning 191 votes are needed. Assuming independent lawmaker Kang Sun-woo, who is in detention, cannot vote, at least 12 People Power Party lawmakers would need to support the bill.* This article has been translated by AI. 2026-05-06 15:55:43 -
Yongin’s Suji District Home Prices Rise 2.7 Times Faster Than Seoul, Data Show Seoul apartment prices are still rising but have cooled somewhat, while prices in some key residential areas of Gyeonggi Province are climbing faster. As housing costs in Seoul remain high, end-users are shifting demand to major Gyeonggi markets rather than to the far outskirts of the capital region, adding upward pressure on prices. According to the Korea Real Estate Board’s weekly apartment price trends released Tuesday, apartment sale prices in Suji District of Yongin were up 7.24% year to date, about 2.7 times Seoul’s average increase of 2.65%. The industry attributed Suji’s jump largely to a shortage of listings, especially around station areas with large complexes and relatively new buildings, as demand pushed out of Seoul added to competition. While Gyeonggi’s average gain remains below Seoul’s, buying has concentrated in areas like Suji that combine transportation, schools and daily-life infrastructure. Demand has been boosted by Suji’s access to Seoul’s Gangnam area via the Shinbundang Line, along with preferences for strong school districts, settled living conditions and newer or near-new apartment complexes. With prices in Seoul’s prime neighborhoods staying high, buyers seeking more space or newer housing within the same budget have been moving into southern Gyeonggi. Suji is also favored by commuters because of its relatively convenient access to Gangnam. The Shinbundang Line has reinforced that demand. Residential preference is strong along stations including Dongcheon, Suji-gu Office, Seongbok and Sanghyeon, with comparatively short travel times to Gangnam and proximity to the Pangyo, Bundang and Gwanggyo areas. The Korea Real Estate Board said in its fourth-week-of-April report that Suji rose mainly on gains in major complexes in Seongbok and Sinbong. Schools and local amenities have also supported demand. The Seongbok, Sinbong and Sanghyeon areas are seen as having solid education demand and good access to large retail facilities, green space and everyday conveniences. Analysts said that helped keep would-be buyers on the sidelines during the market’s adjustment period, and that prices then rose quickly as the market recovered. Elsewhere, Suwon’s Yeongtong District rose 3.67%, also outpacing Seoul’s average. Hwaseong’s Dongtan District was up a cumulative 2.88% after an administrative boundary change in February. The Korea Real Estate Board said Yeongtong rose mainly in relatively new complexes in Mangpo and Woncheon. Gyeonggi’s strength is also reflected in population movement. In the first quarter, 83,984 people moved from Seoul to Gyeonggi, up about 31% from the previous quarter. It was the highest level since 85,481 in the fourth quarter of 2021. The shift is being read as Seoul residents moving out as housing costs and purchasing limits weigh on buyers. The market view is that as Seoul’s price burden grows, end-user demand is spreading into southern Gyeonggi areas with strong transportation links and living infrastructure. Suji, Yeongtong and Dongtan are often cited as places where access to Seoul and job-housing proximity both support demand. Analysts said that with Seoul’s key districts already at high price levels, buyers are looking to Gyeonggi for larger homes or newer and near-new complexes within the same budget. Still, not all of Gyeonggi is rising. Over the same period, Gyeonggi’s average increase was 1.54%, below Seoul’s 2.65%. Some areas, including Icheon and Yeoju, posted weekly declines. That suggests the rise is less a broad-based rebound than localized gains in a handful of in-demand districts. Even if Seoul’s pace continues to slow, upward pressure in Gyeonggi’s core markets is expected to persist for now. A real estate industry official said buying demand is flowing into areas with good access to Seoul and solid living conditions, but added that places with sharp short-term gains could see widening differences by district as loan burdens grow and buyers turn cautious.* This article has been translated by AI. 2026-05-06 15:50:14