Journalist

Ahn Seon-Young
  • Shinhan Financial Chairman Jin Ok-dong poised for extended term
    Shinhan Financial Chairman Jin Ok-dong poised for extended term SEOUL, December 04 (AJP) - Shinhan Financial Group Chairman Jin Ok-dong is set to secure a second three-year term after delivering consecutive record earnings since taking office in March 2023. On Thursday, the group’s chairman nomination committee named Jin as its final candidate for the next chairman, following interviews with him and other shortlisted contenders, including Shinhan Bank President Jeong Sang-hyeok and Shinhan Investment Corp. CEO Lee Sun-hoon. The committee cited Jin’s “strategic insight, operational expertise and strong ethical leadership,” saying he had strengthened Shinhan’s performance and long-term competitiveness through digital transformation, overseas expansion and tighter internal controls. Born in 1961, Jin began his career at the state-run Industrial Bank of Korea in 1980 and joined Shinhan Bank in 1986, where he held key roles including Osaka branch manager and CEO of the Japanese subsidiary SBJ. Under Jin’s leadership since March 2023, Shinhan has posted steady record operating profits, excluding one-off factors. The group’s cumulative net income reached 4.46 trillion won in the third quarter, placing Shinhan on track to surpass the 5 trillion-won mark for the first time this year. Jin’s renewed term is expected to be finalized at the group’s annual shareholders’ meeting and board meeting in March. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-12-04 14:26:21
  • Foreign visitors surge 17.6 percent as S. Korea approaches post-COVID record in arrivals
    Foreign visitors surge 17.6 percent as S. Korea approaches post-COVID record in arrivals SEOUL, November 09 (AJP) - Nearly 6.5 million foreign visitors arrived in South Korea between January and September with the country on track to match last year’s post-pandemic record of 7.54 million, according to data from the Ministry of Justice's immigration office, Sunday. The figure represents a 17.6 percent increase from the same period a year earlier, when 5.52 million tourists entered the country. Monthly arrivals have consistently topped 500,000 this year, with each month from July through September surpassing 800,000. Tourism had plunged after the onset of the pandemic, dropping from a high of 7.15 million visitors in 2019 to just 939,000 in 2020 and a mere 115,000 in 2021. The recovery began in earnest last year, with 7.54 million visitors marking a full rebound from the COVID-19 downturn. The ministry also reported a growing number of entries through the Korea Electronic Travel Authorization, or K-ETA, system. In September, 92,000 travelers entered the country using K-ETA, about 10,000 more than in August. Introduced in 2021, the system allows citizens from 112 countries to apply online for entry authorization before traveling. The largest groups of K-ETA users in September came from Thailand, with 24,000 visitors; Malaysia, with 22,000; Russia, with 9,000; and Kazakhstan, with 4,000. Since its launch, nearly 6 million travelers have used the system, the ministry said. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-11-09 09:50:06
  • 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