Journalist

Ahn Seon Young
  • OPINION: Stricter regulations push young peoples dreams of owning home further out of reach
    OPINION: Stricter regulations push young people's dreams of owning home further out of reach SEOUL, October 17 (AJP) - "I waited for the government to bring housing prices under control, but now it's almost impossible to buy a home even with dual incomes," lamented one salaried worker. Two years ago, he put off purchasing a home, but his dream has now collapsed, following a new set of even stricter real estate and loan regulations announced earlier this week by the Ministry of Land, Infrastructure and Transport. Under the measures aimed at curbing soaring housing prices, the so-called speculative zones, previously limited to several districts in Gangnam and Yongsan, have been expanded to include all 25 districts of Seoul as well as parts of Gyeonggi Province. In Seoul's Seongdong district, just north of the Han River, mid-sized apartments that cost 900 million won at the end of 2023 now sell for over 1.2 billion won. Homes for jeonse or traditional lump-sum deposit leases there also jumped from 500 million won to around 800 million won. What seemed affordable to a dual-income couple two years ago is now out of reach. This is not limited to them. For many people in their 30s, owning a home in Seoul, once considered a key indicator of middle-class status, is no longer an attainable dream. The average price of a 59-square-meter apartment, popular among many young couples, has surpassed 1 billion won, with Seoul's upscale districts of Gangnam, south of the Han River, exceeding 2 billion won. Even with an annual salary of 100 million won, it would take more than a decade of saving every penny just to afford a small apartment in Seoul. No wonder many young people see the housing market as where inequality begins. The measures restricted regulations on leases and loans for those who want to have their home without plans to increase housing supply, in a bid to curb high-priced homes and speculative investors, fueling anxiety among young people. Without specific plans to increase housing supply, the measures merely tightened regulations on leases and loans for those hoping to secure at least an affordable home for themselves, in a bid to curb high-priced homes and speculative investors, fueling anxiety among young people. Strict loan restrictions alone cannot resolve issues in the real estate market, which are intertwined with broader social factors such as marriage, fertility, and labor mobility. To address the market spiraling out of control, policymakers should come up with separate measures for genuine homebuyers and speculators. If housing supply cannot keep pace with demand, direct government intervention would also be necessary. Even if these measures and policies are headed in the right direction, they will be in vain if not implemented in a timely manner. The government must also strive to achieve tangible results, rather than making empty pledges. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-17 10:11:00
  • Gold prices hit record high, surpass $3,900 point
    Gold prices hit record high, surpass $3,900 point SEOUL, October 06 (AJP) - Gold prices have reached an all-time high, surpassing $3,900 per troy ounce for the first time. This surge is attributed to increased demand for safe-haven assets amid the ongoing U.S. federal government shutdown. According to Reuters, gold prices briefly hit $3,919.59 early Monday, with December futures reaching $3,926.80. Gold has risen 49% this year, frequently setting new records. The price increase is driven by the prolonged U.S. government shutdown, economic and political uncertainties surrounding President Donald Trump, and expectations of Federal Reserve interest rate cuts. Analysts note that central banks are diversifying portfolios beyond the dollar, boosting demand for safe assets like gold. Traditionally, gold is seen as a secure asset during crises, leading to increased investment amid uncertainty. Market experts predict gold could soon exceed $4,000 per ounce. HSBC's recent report suggests that if central banks continue to buy gold and institutional investors diversify portfolios, prices may rise further. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-06 15:44:01