Tighter loans fuel demand for smaller apartments SEOUL, February 2 (AJP) - Strong demand for homes along the Han River in Seoul has driven up prices of small or midsize apartments, as they are relatively affordable and eligible for larger loans. According to transaction data of real estate compiled by KB Kookmin Bank and released on Monday, the average price of apartments measuring 60 to 85 square meters in about a dozen districts south of the Han River stood at 1.83 billion won (about US$1.3 million) in January, up 0.96 percent from the previous month, surpassing 1.8 billion won for the first time. These districts include Dongjak, Gangnam, Gangdong, Gangseo, Geumcheon, Gwanak, Guro, Seocho, Songpa, Yangcheon, and Yeongdeungpo. In about 14 districts north of the river, prices averaged 1.14 billion won in January, up 0.83 percent from December. The increase comes after the government introduced a series of stringent measures in June and October last year to curb real estate speculation, limiting loans to 600 million won for apartments priced at 1.5 billion won or below. Separately, President Lee Jae Myung recently posted a series of messages on social media, signaling a strong resolve to rein in the overheating housing market, though it remains to be seen whether his efforts will succeed. 2026-02-02 14:36:53

South Korea to End Capital-Area Commuter Buses Run by Relocated Public Agencies Public agencies that relocated outside the Seoul metropolitan area will be required to stop operating chartered commuter buses to and from the capital region, a move aimed at strengthening the effectiveness of the relocation policy. The government said it will also prepare measures to improve living conditions in innovation cities. According to the government on Tuesday, the Ministry of Land, Infrastructure and Transport sent official notices to public agencies on Monday and Tuesday instructing them to wind down capital-area charter commuter bus operations run by agencies moved to innovation cities. The guidance calls for ending operations within three months, and completing all terminations within six months if contract cancellations trigger penalties. The step follows comments by President Lee Jae Myung at a New Year’s news conference on Jan. 21, when he said there is no relocation effect if agencies move to the regions but still run charter buses for commuting to the capital. A ministry survey found that, as of the end of last year, 47 of 149 relocated public agencies were operating charter commuter buses to the capital region. The buses operate from eight innovation cities, excluding Busan and Jeju, with about 22 billion won spent annually. In North Chungcheong Province, 10 of 11 agencies run weekday commuter buses to the capital region; in Gangwon Province, six of 11 do. Commuter buses for civil servants traveling between the capital region and the Government Complex Sejong were fully suspended in December 2021. The ministry said that more than a decade after the relocations, some agencies are still running commuter buses for employees traveling to the capital rather than supporting local settlement. It said the practice undermines regional economic contributions and efforts to revitalize innovation cities, and that the decision was made after interagency discussions. Separately, the ministry said it plans to speed up work to improve living conditions in innovation cities. It said ministries are identifying short-term tasks with their affiliated agencies and will also work with local governments to develop measures to improve conditions in innovation cities during a second phase of public agency relocations. * This article has been translated by AI. 2026-01-28 16:30:25

South Korea Secures Record 54,000 New-Build Rental Homes, Plans 44,000 Starts in Capital Area 정부가 지난해 역대 최대 규모의 신축매입약정을 체결하고 도심 주택공급에 속도를 낸다. The Ministry of Land, Infrastructure and Transport and the Korea Land and Housing Corp. (LH) said Tuesday they secured 54,000 homes through new-build purchase agreements last year, the largest total on record. The figure was up 128% from the previous year’s 41,955 homes and about six times the 9,253 recorded in 2023, the ministry said. About 48,000 of the homes were in the Seoul metropolitan area, including 15,000 in Seoul. Under the new-build purchase-lease program, LH buys privately built or planned homes after completion and supplies them as rental housing. Many are non-apartment units, including small apartment buildings and multi-family housing. Based on last year’s results, the ministry said it plans to start construction on more than 44,000 new-build purchase homes in the capital area this year, including 13,000 in Seoul. It said the plan is intended to keep on track with targets in the Sept. 7 housing supply expansion plan: 70,000 capital-area starts in 2026-2027 and a total of 140,000 by 2030. LH said it will recruit tenants this year for 11,000 purchase-lease homes in the capital area, including 3,000 in Seoul, and supply about 60% of them to young people and newlyweds. The ministry and LH said they will also strengthen quality control to provide higher-quality, tailored housing for newlyweds and young people. They also said they will conduct a full review of whether purchase prices under the program were appropriate, after President Lee Jae Myung last year criticized LH for buying newly built private homes at high prices for the purchase-lease program. The ministry said it will form an external expert-led review committee and complete the review by April. “Especially when the housing market is difficult, it is important for the public sector to send a clear supply signal backed by results,” Minister Kim said. “If last year was a year of preparation with record agreements, this year will be a year of execution through starts of more than 44,000 homes in the capital area and more than 13,000 in Seoul.” Cho Kyung-sook, LH’s acting president, said about 11,000 homes contracted in Seoul last year are in strong locations with proven infrastructure, including near transit hubs. She said LH will “take the lead in stabilizing the housing market” through strict quality control, phased starts and on-time supply.* This article has been translated by AI. 2026-01-28 16:15:00

Incheon airport expands global reach with record number of airlines SEOUL, January 28 (AJP) - Incheon International Airport has surpassed 100 airlines in operation for the first time since opening in 2001, underscoring its growing role as a regional aviation hub, operator Incheon International Airport Corp. (IIAC) said on Wednesday. As of December, 101 airlines were operating at the airport, up from 47 at its opening, the company said. Seven new carriers were added last year, including Scandinavian Airlines. With the increase in airlines, Incheon now serves 183 cities in 53 countries across passenger and cargo routes. At opening, the airport connected 103 cities in 38 countries, representing growth of 39 percent in countries served and 78 percent in cities, the company said. The airport now operates 159 international passenger routes, the highest number among major competing airports in Northeast Asia. Incheon also has the most routes to North America among its regional peers, with 18, according to the IIAC. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-28 10:52:06

South Korea's GS E&C builds solar power complex in India SEOUL, January 27 (AJP) - South Korea's GS Engineering & Construction has entered India’s renewable energy market, completing a solar power project in Maharashtra state and beginning full commercial operations. The company said on Tuesday the Patur solar power complex has an installed capacity of 12.75 megawatt-peak (MWp) and is expected to generate between 18 million and 20 million kilowatt-hours of electricity annually, enough to supply power to about 6,000 households for a year. GS E&C said the project would reduce carbon dioxide emissions by about 8,000 tons a year compared with fossil-fuel power generation. The South Korean builder participated in the project as a developer, overseeing construction and operating the facility to sell electricity directly and generate revenue. Under a long-term agreement, GS E&C will supply about 13.9 gigawatt-hours (GWh) of electricity a year — roughly 69 percent of the project’s total output — to Iljin Global India for the next 25 years. The remaining power will be sold to a local Indian real estate developer. The project uses an “open access captive” model, which allows industrial users to procure electricity directly through India’s transmission and distribution network. GS E&C said rising electricity prices in India are driving demand for renewable energy sources such as solar and wind, and it expects the market for the model to expand. GS E&C said it established an India renewable energy development corporation in 2023 as part of preparations to enter the market. The company plans to strengthen its position as a renewable energy developer in India and expand its portfolio beyond solar into wind power, GS officials said. The company will initially focus on working with South Korean companies operating in India before gradually diversifying its customer base, they added. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-27 14:04:28

Ssangyong Engineering secures major contracts in UAE, Singapore SEOUL, January 26 (AJP) - Ssangyong Engineering said on Monday it has secured major construction contracts in the United Arab Emirates and Singapore. The company said it has won a $250 million contract from Dubai state-owned real estate developer WASL to build Avenue Park Tower, a residential project in central Dubai. The project comprises two residential towers ranging from 37 to 43 stories above ground in a key downtown development area about 10 minutes from Dubai International Airport. Ssangyong said it earned the client’s trust after successfully completing WASL’s Hyatt Centric hotel and One Residence projects in 2022. Since 2023, Ssangyong has secured additional projects in Dubai, including Immersive Tower, the Kifaf development and Creek Waters. The company is currently carrying out six projects in the emirate with a combined value of about 1.3 trillion won ($960 million). In Singapore, Ssangyong last month won a contract for the Alexandra Hospital outpatient building, a $580 million project commissioned by the Ministry of Health. The company formed a joint venture with Japan’s Shimizu Corp. and Singapore’s Kimly, with Ssangyong holding a 40-percent stake valued at about 3.4 trillion won. The project includes three basement levels and 12 stories above ground, housing examination rooms, clinics, offices and a four-story parking facility. Ssangyong said it has built advanced medical facilities worldwide with a combined capacity of around 12,000 beds. In Singapore, its track record includes projects such as Tan Tock Seng Hospital in 1998, the new K.K. Hospital in 1999 and the Woodlands Health Campus in 2024. The company has completed about 40 projects in Singapore, including the Marina Bay Sands integrated resort. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-26 13:54:57

Daewoo E&C to build AI data centers in southwestern counties SEOUL, January 16 (AJP) - Daewoo Engineering & Construction announced a plan Friday to build artificial intelligence data centers with a combined power capacity of 500 megawatts in South Jeolla Province. The company said it signed a memorandum of understanding with the municipal governments of South Jeolla Province, Jangseong County, Gangjin County and a consortium of public and private partners, to develop AI data centers in the region. Under the agreement, the partners plan to build two major AI data centers in Jangseong and Gangjin counties, with power capacities of 200 megawatts and 300 megawatts, respectively. Daewoo E&C will serve as a core construction partner in the consortium, participating across the engineering, procurement and construction process. Daewoo E&C has been expanding its non-housing businesses, including data centers, to reduce reliance on the housing market and to strengthen its role as a developer involved in development, investment and operations. As part of that strategy, the company has broadened its data center portfolio, starting with the Empyrion Digital AI Campus project in Seoul’s Gangnam district and expanding into projects such as the Jangseong Fine Data Center, described as South Jeolla’s first data center, where it participates as both an investor and builder. Chairman Jung Won-ju attended the groundbreaking ceremony for the Jangseong Fine Data Center on Dec. 15, where he said data centers are “core infrastructure” for the AI era and can play a key role in revitalizing regional economies and strengthening national competitiveness. The consortium said it plans to build high-efficiency, environmentally friendly data centers and develop AI infrastructure with global competitiveness. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2026-01-16 15:39:13

Railway passenger numbers hit record due to surge in high-speed train usage SEOUL, January 14 (AJP) - South Korea saw a record number of railway passengers last year, as more people used high-speed trains not only for travel but also for daily commutes, the Ministry of Land, Infrastructure and Transport said on Wednesday. The total number of railway passengers reached 172.22 million as of the end of las year, up 0.6 percent from the previous year and the highest on record. Among them, passengers on high-speed bullet trains KTX and SRT totaled 93 million and 26 million, averaging 254,000 and 71,000 per day, respectively. The ministry said the increase is partly due to a new railway line connecting Jecheon in North Chungcheong Province and Wonju in Gangwon Province and other southern areas, which opened in December 2024, carrying about 2.75 million passengers so far. Passengers on conventional slower trains with frequent stops fell 3.6 percent from a year earlier to 53 million, indicating a shift toward high-speed trains. By destination, trains to the southern port city of Busan carried the most passengers, totaling 83.60 million. Of these, 61.40 million traveled on high-speed trains and 20.22 million on conventional trains. Seoul Station in the capital was the busiest, with 43.90 million passengers, followed by Busan (26.10 million), Dongdaegu (20.50 million), Daejeon (19.60 million) and Yongsan (15.10 million). To meet growing demand, the ministry expanded discount programs for the elderly, people with disabilities, families with multiple children, and pregnant women. It also installed around 300 new ticketing machines, offering various services including remote consultations and other assistance. Some 385,000 families with multiple children and 699,000 pregnant women benefited from substantial discounts for their fares. The ministry also said it will come up with tour programs aimed at revitalizing local tourism in areas facing population decline by attracting visitors. Kim Tae-byeong from the ministry said, "We will ensure the safety of passengers while continuing to improve services." 2026-01-14 16:15:32

Korean pastor Jeon Kwang-hoon arrested over alleged role in court rampage SEOUL, January 13 (AJP) -South Korean ultra-right pastor Jeon Kwang-hoon of Sarang Jeil Church was arrested at court on suspicion of orchestrating a violent rampage at the Seoul Western District Court following the arrest of former President Yoon Suk Yeol last year on Wednesday, the same day prosecutors asked for a death penalty for Yoon for his ill-served marital-law attempt. The Seoul Western District Court issued an arrest warrant for Jeon after a pre-arrest hearing, citing concerns that he could destroy evidence or flee. Senior Judge Kim Hyung-seok, who presided over the warrant review, said the risk factors justified taking Jeon into custody. Jeon is accused of instigating aggravated trespass of a public building by encouraging supporters to storm the court in the early hours of Jan. 19, 2025, shortly after Yoon’s arrest. Prosecutors allege that demonstrators smashed court fixtures and assaulted police officers during the incident. Investigators say Jeon exerted psychological control over followers under the guise of religious devotion and provided financial support to close aides and conservative YouTubers to incite violence. Police believe such actions played a central role in mobilizing the crowd. A total of 141 people have been sent to trial in connection with the rampage, including two individuals described as Sarang Jeil Church “special mission evangelists.” During the warrant hearing, police argued that Jeon posed a flight risk, citing his regional network known as “Freedom Village” and the possibility he could leave the country. Authorities also raised concerns about evidence destruction, noting that a church office computer was replaced in July last year shortly before a search and seizure. Before attending the hearing at around 9:50 a.m., Jeon held a news conference and denied the allegations, saying, “Now that it’s a left-wing president, they’re having a fit trying to arrest me.” He has consistently rejected claims that he instigated the violence, maintaining that he urged supporters not to clash with police. The arrest follows a procedural delay. Prosecutors initially rejected a police request in December to seek warrants for Jeon and Shin Hye-sik, head of the YouTube channel Shinui Hansu. After supplementary investigations, prosecutors requested a warrant for Jeon alone on Jan. 7. Police said they plan to soon refer Jeon’s case to prosecutors along with other suspects, including Shin. Jeon’s arrest marks the fourth time he has been taken into custody. In 2018, he was sentenced in a first trial to 10 months in prison for violating the Public Official Election Act during the 19th presidential election. An appeals court later reduced the sentence to six months, suspended for two years. He was arrested again in February 2020 ahead of the 21st general election on another election-law violation and released on medical bail. In September that year, he was re-imprisoned for violating bail conditions but later released after being acquitted. Jeon also faced a possible arrest in January 2020 during the Moon Jae-in administration over allegations that he led a violent protest near the presidential office, though a warrant was denied at the time. * This article, published by Aju Business Daily, was edited by AJP. 2026-01-13 22:27:14

Special counsel seeks death penalty for ex-President Yoon over failed martial law bid SEOUL, January 13 (AJP) -Special Counsel Cho Eun-suk on Wednesday sought the death penalty for former President Yoon Suk Yeol, accusing him of leading an insurrection through his short-lived imposition of martial law on Dec. 3, 2024. Cho’s team asked the Seoul Central District Court’s Criminal Division 25, presided over by Judge Ji Gui-yeon, to impose the maximum sentence during the final sentencing hearing, describing Yoon as the “ringleader” of an anti-constitutional attempt to seize control of the state. The prosecution’s sentencing request had originally been expected on Jan. 9 but was postponed after the review of documentary evidence and final arguments by Yoon and other defendants ran past midnight. The court scheduled an additional hearing, which concluded on Wednesday. Special counsel Park Eok-su said the martial law episode “betrayed the constitutional duty to safeguard citizens’ freedoms” and “essentially infringed upon national security and the survival of the people,” adding that its purpose, methods and execution bore “the character of anti-state activity.” Park said it had become clear whom Yoon had labeled “anti-state forces” to justify the declaration, criticizing what he called an unprecedented “serious destruction of the Constitution.” He cited the storming of the National Assembly and the National Election Commission, as well as attempts to cut off electricity and water supplies to media outlets. According to the prosecution, Yoon declared martial law to seize control of the judiciary and legislature and to remain in power for an extended period, mobilizing state resources meant to serve the national community. Park added that Yoon had shown no reflection on the harm caused to constitutional order and democracy, arguing that “the biggest victims were the people who protected democracy through sacrifice against dictatorship and authoritarianism.” Yoon is accused of conspiring with former Defense Minister Kim Yong-hyun and others to declare unconstitutional and illegal martial law despite the absence of war, armed conflict or a comparable national emergency. Prosecutors allege he incited a riot aimed at undermining the constitutional order. He is also accused of deploying martial law troops and police to block access to the National Assembly in an effort to prevent lawmakers from voting to lift the decree, and of attempting to arrest and detain key political figures. Those allegedly targeted include National Assembly Speaker Woo Won-shik, President Lee Jae Myung, who was then leader of the Democratic Party, former People Power Party leader Han Dong-hoon, and senior officials at the National Election Commission. The trial involves eight defendants regarded as ringleaders of the martial law attempt, including Yoon and Kim. Yoon triggered a major political crisis when he announced the suspension of civilian rule in December 2024 and dispatched troops to parliament. The attempt collapsed within hours after lawmakers scaled fences and broke through a security cordon to convene and vote down the decree. He was detained in January 2025, becoming the first sitting South Korean president to be taken into custody. If convicted, Yoon would become the third South Korean president found guilty of insurrection, following former military leaders Chun Doo-hwan and Roh Tae-woo, who were convicted for their roles in a 1979 coup. In 1997, the Supreme Court upheld life imprisonment for Chun and a 17½-year sentence for Roh, though both were later pardoned. Even if Yoon is sentenced to death, an execution is considered highly unlikely. South Korea has observed an unofficial moratorium on capital punishment since December 1997, following President Kim Dae-jung’s inauguration in 1998. The court is expected to deliver its verdict in February, bringing to a close more than a year of political upheaval following Yoon’s failed martial law declaration. * This article, published by Aju Business Daily, was edited by AJP. 2026-01-13 22:16:29