Journalist

Woo Joo-seon
  • Korail Signs Rail Electrification Cooperation Deal With France’s SYSTRA, MESEA
    Korail Signs Rail Electrification Cooperation Deal With France’s SYSTRA, MESEA Korea Railroad Corp., known as Korail, said April 24 it signed a multilateral memorandum of understanding with French rail companies SYSTRA and MESEA at its headquarters in Daejeon and held a technical exchange meeting. The April 23 event drew about 20 rail officials from South Korea and France, including Korail Electricity Headquarters Director Lee Seong-hyeong, SYSTRA Vice President Sarah Madjedi and MESEA Technical Headquarters Director Olivier Gouin, Korail said. At the meeting, Korail presented operating cases of condition-based maintenance, which analyzes current asset condition data to set optimal maintenance cycles, and predictive maintenance, which forecasts warning signs before failures to enable preemptive repairs. Korail also shared its mid- to long-term plan to upgrade maintenance. Under the agreement, the three organizations will strengthen cooperation through sharing best practices and information related to maintenance of rail electrical facilities and through mutual benchmarking. They also plan to promote a “data-driven, scientific maintenance system” by actively introducing advanced technologies such as artificial intelligence to improve equipment reliability and prevent failures in advance. “By advancing an AI-based maintenance system for rail electrification, we will enhance the safety and reliability of electrical facilities and continue expanding the foundation for entering the global rail market,” Lee said. * This article has been translated by AI. 2026-04-24 09:51:15
  • GS E&C Teams With Vietnam’s FPT to Pursue Data Center, Smart City Projects
    GS E&C Teams With Vietnam’s FPT to Pursue Data Center, Smart City Projects GS Engineering & Construction Corp. said it is moving to develop new businesses in Vietnam centered on data centers and smart cities. The company said it signed a memorandum of understanding on April 22 with FPT Corp. at the Vietnamese firm’s headquarters in Hanoi to cooperate on data center development and smart city construction. GS E&C CEO Heo Yun-hong and FPT CEO Nguyen Van Khoa attended the signing, along with other officials. GS E&C said the agreement is intended to support Vietnam’s digital economy growth and its national digital transformation strategy by combining the two companies’ capabilities. FPT is Vietnam’s largest private IT company and ranks No. 1 among private firms in the country’s data center market by capacity, GS E&C said. GS E&C said it has more than 20 years of experience in data centers and can provide end-to-end solutions from development through operations. Under the MOU, the companies plan to develop large-scale data centers in major Vietnamese regions, starting with an initial project in the tens of megawatts and expanding in stages. They also plan to build high-efficiency facilities using advanced technology and modular construction to meet rising demand for artificial intelligence and cloud services. The companies also agreed to cooperate on smart city development. GS E&C will lead project development and execution and provide design and construction capabilities for AI infrastructure, the company said. FPT will provide technical cooperation based on its ICT expertise, including cloud services and digital platforms, and will support demand creation and cooperation with the central government and local authorities. GS E&C said the partners aim to build citywide digital infrastructure, including intelligent transportation systems, smart energy management and integrated public safety platforms, and to improve operational efficiency through AI and Internet of Things-based solutions. Separately, GS E&C said it signed another MOU on April 23 with the Bank for Investment and Development of Vietnam, the country’s largest state-owned commercial bank, for comprehensive cooperation on financial services. The company said the deal is intended to establish a financing support framework for development projects and broader smart city initiatives being pursued by its Vietnam unit, VGSE. GS E&C said the two agreements will help it secure an integrated business structure covering data center development, smart city construction and financial support, and strengthen its competitiveness in Vietnam’s digital infrastructure market.* This article has been translated by AI. 2026-04-24 09:43:15
  • Hyundai E&C Backs Local Safety Program for Elementary Schools in Jinhae, South Korea
    Hyundai E&C Backs Local Safety Program for Elementary Schools in Jinhae, South Korea Hyundai Engineering & Construction said it is launching a site-linked community safety program to help protect children in disaster-prone areas. The company said Thursday that it held a ceremony April 22 at Angolpo Elementary School in Jinhae-gu, Changwon, South Gyeongsang Province, with the Construction Industry Social Contribution Foundation and Plan Korea to provide disaster safety education and deliver child-sized safety helmets. Attendees included Lee Hyeong-seok, head of Hyundai E&C’s Finance and Economics Division; Lee Jae-sik, secretary-general of the foundation; Lee Jae-myeong, a manager at Plan Korea; and officials from the Gyeongsangnam-do Changwon Office of Education. Hyundai E&C said it will distribute about 3,600 disaster-response safety helmets from this month through June to eight elementary schools in the Jinhae area, including Angolpo Elementary as well as Ungdong and Ungcheon elementary schools. It also plans structured disaster safety classes and hands-on evacuation drills for all students. The program includes practice sessions on wearing helmets and simulated evacuations to help students learn how to respond. Schools will also name student “disaster safety guardians,” or “Safe Captains,” to encourage participation. Hyundai E&C said it has focused its safety-related social contribution work on disaster-vulnerable areas over the past seven years and is expanding the effort this year to Jinhae-gu. It said it will support tailored safety programs linked to nearby elementary schools around local projects, including construction of the Busan Port Jinhae New Port container terminal (Phase 1-1), a southern breakwater and the Wasong district development project. A Hyundai E&C official said the company is continuing “effective safety activities” by combining equipment support with participatory education programs in disaster-vulnerable areas and plans to keep expanding disaster safety programs tied to communities near its worksites. * This article has been translated by AI. 2026-04-24 09:19:33
  • South Korea Requests Police Probe Into Illegal Vehicle Software Changes
    South Korea Requests Police Probe Into Illegal Vehicle Software Changes South Korea’s Ministry of Land, Infrastructure and Transport has asked police to investigate cases in which vehicle software was altered without authorization. In a press note released on the 23rd, the ministry said unauthorized software changes have continued to occur and it has requested a probe by the National Police Agency. The police agency plans to begin an investigation after receiving related materials from automakers, the ministry said. The ministry said it had already warned last month that illegally modifying software that affects safe vehicle operation is prohibited, and it has been monitoring for violations. Automakers are also responding under the vehicle cybersecurity certification system, known as CSMS, and are taking steps to immediately disable vehicles remotely if users alter software without authorization, the ministry said. As vehicles shift to connected cars and software-defined vehicles, safety oversight of automotive software is being strengthened internationally, the ministry said. It added that under Article 35 of the Automobile Management Act, unauthorized changes to software that affects safe operation are strictly restricted. * This article has been translated by AI. 2026-04-23 18:09:19
  • South Korea flags 746 suspected illegal home deals in capital region probe
    South Korea flags 746 suspected illegal home deals in capital region probe The South Korean government said it found more than 700 suspected illegal housing transactions, including disguised gifts, in a targeted probe of deals in and around the capital. The Ministry of Land, Infrastructure and Transport said on the 23rd it conducted a planned investigation into home purchase reports filed from July to October last year, identifying 746 suspected illegal transactions involving 867 suspected violations. It said it notified relevant agencies. The ministry said the probe was launched amid concerns that market-disrupting practices would spread after measures such as tighter lending rules and an expansion of land transaction permit zones. An earlier review of reports filed from January to June last year covered Seoul and six areas in Gyeonggi Province — Gwacheon, Suji District in Yongin, Bundang and Sujeong districts in Seongnam, Dongan District in Anyang, and Hwaseong. The latest probe added nine more Gyeonggi areas: Gwangmyeong, Uiwang, Hanam, Namyangju, Guri, Jungwon District in Seongnam, and Jangan, Paldal and Yeongtong districts in Suwon. By type, the suspected violations included: disguised gifts and excessive borrowing from related parties (572 cases); false reporting of prices or contract dates (191); misuse of loan funds (99); violations of the Licensed Real Estate Agents Act (4); and a violation of the Real Name Real Estate Transactions Act (1). In one case, a buyer purchased a Seoul apartment for 11.75 billion won and financed 6.77 billion won by borrowing from a company where the buyer was registered as an inside director. The case was referred to the National Tax Service over suspected excessive related-party borrowing. In another, a buyer purchased a Seoul apartment owned by the buyer’s mother for 2.34 billion won, while signing a jeonse lease deposit contract for 1.7 billion won with the mother as tenant. Authorities said the deal could amount to a gift due to an underpriced transaction and referred it to the tax agency. Separately, the ministry said it reviewed about 250,000 apartment transactions reported nationwide in the first half of last year and found 306 unregistered deals. It said it notified local governments and requested further investigations and administrative action. The ministry said it is also conducting a planned probe into transaction reports filed in November and December last year for Seoul and Gyeonggi Province, and plans to continue investigations into deals reported this year.* This article has been translated by AI. 2026-04-23 16:52:48
  • Seoul Homebuyers Shift to Smaller Units as New-Home Prices Surge
    Seoul Homebuyers Shift to Smaller Units as New-Home Prices Surge With Seoul’s new-apartment presale prices in the mid-50 million won range per 3.3 square meters, the subscription market is shifting quickly. As construction costs jump and loan rules tighten, buyers are increasingly turning away from the standard 84-square-meter unit and concentrating on smaller homes. According to the redevelopment industry on April 23, the winning score cutoff for the 84-square-meter units at “Ra Clache Zide Fine,” recently offered in Seoul’s Dongjak district, was 62 points, below expectations. With presale prices reaching the 2.5 billion won range, demand thinned because entry is difficult without substantial cash on hand. Smaller 59-square-meter units told a different story. They posted an average competition rate of 39.8-to-1, well above the overall average of 26.9-to-1, and the winning cutoff reached as high as 74 points — higher than the 84-square-meter units. High-score applicants and end users crowded into the less expensive sizes, making small units harder to win. The same pattern has appeared across major Seoul offerings. At “Raemian Elavine” in Banghwa-dong, Gangseo district, the 59㎡B type drew 228.8-to-1 competition and required 69 points, the maximum for a four-person household. The 84㎡B type drew 16.1-to-1, and the minimum winning score fell to 50 points, a gap of nearly 20 points. At “The Sharp Priella” in Mullae-dong, Yeongdeungpo district, all 59-square-meter types had a 69-point cutoff, while the 84㎡B type formed a winning range at a low of 62 points. Even at the ultra-high-priced “Otier Banpo” in Seocho district, smaller units led. The 44-square-meter type recorded 622.8-to-1 competition and an average winning score of 76.5 points — more than 6 points higher than mid-to-large types such as the 84㎡A (70.67 points) and 97.6㎡ (69.5 points). Analysts say as prices and loan barriers rise, high-score applicants are giving up space to enter top neighborhoods, deepening the score divide by unit size. Real estate data firm Real Estate R114 said 218,047 people applied last year for units of 60 square meters or less in the Seoul metropolitan area, surpassing for the first time the 217,322 applicants for mid-size units of 60 to 85 square meters. In Seoul, 59.7% of applicants — about six in 10 — chose small units. The shift is widely attributed to steep price increases and strict lending rules. As of early this year, the average presale price in Seoul was about 1.89 billion won for an 84-square-meter unit, compared with about 1.4 billion won for a 59-square-meter unit, a difference of roughly 490 million won. Factoring in acquisition tax and loan interest, the perceived gap exceeds 500 million won. Relief on construction costs also appears distant. The Korea Institute of Civil Engineering and Building Technology said the construction cost index in February rose 2.04% from a year earlier to 133.69, extending a record-high streak to six straight months. Experts say as long as high interest rates and loan restrictions persist, end users will keep lowering expectations to homes they can realistically win. Supply concerns are also growing as unstable materials procurement delays project starts, potentially pushing up the value of smaller units with lower entry barriers. KICT data show the materials supply index last month fell 16.7 points from the previous month to 74.3; readings below 100 indicate more companies view conditions negatively than positively. Baek Sae-rom, a senior researcher at Real Estate R114, said that as one-person households increase and household formation accelerates, rising presale prices are prompting buyers who initially considered 84-square-meter units to “lower their expectations and change their options to match price levels.” With shrinking household size and heavier financing burdens, she said, the preference for smaller units is likely to become even more pronounced.* This article has been translated by AI. 2026-04-23 16:04:30
  • Korea Expressway Corp. Launches Emergency Management to Address Fuel, Supply and Safety Risks
    Korea Expressway Corp. Launches Emergency Management to Address Fuel, Supply and Safety Risks Korea Expressway Corp. said it is shifting to an emergency management system to respond in advance to overlapping internal and external risks, including persistently high oil prices tied to the Middle East situation, instability in construction-material supplies and a seasonal rise in spring traffic accidents. The company said April 23 it has elevated its regular executive meeting to an emergency management meeting and formed an executive-led task force to review key management issues, activating a companywide crisis-response framework. It held an expanded executive emergency management meeting at its headquarters, chaired by the acting president, with heads of regional units nationwide taking part. Participants discussed steps aimed at easing the public’s economic burden, including stabilizing gasoline prices and ensuring steady fuel supplies at expressway service stations; temporarily waiving tolls for route buses and late-night freight trucks; coordinating the timing of material use among agencies to cope with supply uncertainty for items such as asphalt concrete; and continuously monitoring supply conditions to minimize construction delays. The meeting also reviewed specific measures to improve expressway safety, including operating a joint public-private accident investigation team to develop more effective traffic-accident prevention plans. Alongside headquarters-level steps such as the task force, the company said it will strengthen field-centered crisis management. It will assign headquarters executives as regional leads to directly inspect on-site safety and will keep a practitioner-led mobile inspection team operating at all times to closely manage customer-facing facilities such as rest areas and gas stations. Lee Sang-jae, acting president of Korea Expressway Corp., said, “With severe conditions driven by internal and external uncertainty, we must fulfill the responsibilities of a public institution based on strict public-service discipline.” He added, “Under the emergency management system, we will bring together our full capabilities to minimize inconvenience to the public and do our utmost to secure expressway safety and support people’s livelihoods.”* This article has been translated by AI. 2026-04-23 14:51:19
  • Korea Expressway Corp., ChildFund Korea Launch Run-to-Donate Drive for Caregiving Children
    Korea Expressway Corp., ChildFund Korea Launch Run-to-Donate Drive for Caregiving Children Korea Expressway Corp. said Thursday it signed an agreement with ChildFund Korea to run the “2026 Run-to-Donate Challenge” to support children in North Gyeongsang Province who are in caregiving blind spots. Under the deal, the company will raise donations through the campaign, and ChildFund Korea will work to ensure the funds are used transparently for living, education and medical needs for 50 households of children who provide family care. The Run-to-Donate Challenge is a public participation social contribution campaign that links running with giving. Participants can apply through the “Runner PICK! Challenge of the Month” on the running app Runday. The program supports smartwatch syncing, allowing participation without carrying a phone. Donations accrue at 1,000 won per cumulative kilometer, with up to 50 million won raised if the group reaches a 50,000-kilometer goal. “Each person’s steps come together to brighten the world,” said Oh Hun-gyo, head of public relations at Korea Expressway Corp. “We hope the 50,000 kilometers driven by the public becomes a path to health and sharing.”* This article has been translated by AI. 2026-04-23 14:35:04
  • Korea Transportation Safety Authority wins Interior Ministry award for Accident-Free Today campaign
    Korea Transportation Safety Authority wins Interior Ministry award for 'Accident-Free Today' campaign The Korea Transportation Safety Authority, known as TS, said April 23 it won the Minister of the Interior and Safety Award in the safety management category at the Korea Creative Management 2026 awards ceremony held at The Plaza Hotel in Seoul. TS said it received the honor for helping spread a traffic safety culture through its governmentwide “Accident-Free Today” campaign. The agency said it has been running the campaign at major transportation hubs nationwide. Since last year, it has held on-site events at key locations including Seoul Station, Incheon International Airport, Daejeon Complex Terminal and Gimpo Airport, drawing about 20,000 visitors and securing safety pledges from about 10,000 participants. Working with its 14 regional headquarters, TS said it conducted the campaign 548 times, targeting pedestrians as well as motorcycle and bus drivers. TS also said it designated Gimcheon as “Accident-Free Today City No. 1” and promoted six safety rules at high-traffic facilities such as Gimcheon-Gumi Station, other public facilities, and cultural and sports venues. This year, TS said it again held an on-site campaign tied to the Mercedes-Benz Social Contribution Committee’s 13th GIVE ’N RACE marathon event on April 5 in the area around Gwangalli Beach in Busan, with about 20,000 people taking part. TS President Jeong Yong-sik said the award recognized employees’ efforts to expand traffic safety culture and create a safer, more convenient transportation environment. “TS will continue to pursue its management vision as a safe mobility partner that protects everyone’s daily lives, and do its best to prevent traffic accidents and ensure public traffic safety,” Jeong said. * This article has been translated by AI. 2026-04-23 14:27:15
  • Kumho E&C to Sell Price-Capped ‘Wangsuk Atera’ Apartments in Namyangju in May
    Kumho E&C to Sell Price-Capped ‘Wangsuk Atera’ Apartments in Namyangju in May Kumho E&C said it will begin selling “Wangsuk Atera,” a privately participated public-sale apartment complex, in May in Wangsuk District 2 in Namyangju, Gyeonggi Province. The project will be the first complex in the third-phase new town Wangsuk District 2 to move to the main subscription stage, and it will be subject to South Korea’s price cap on new apartment sales. The company said the cap is drawing attention from buyers seeking more affordable prices amid rising presale costs. Wangsuk Atera, planned for the A-1 block in Wangsuk District 2, will have seven buildings from two basement levels to 29 stories, totaling 812 units. Homes will be offered in 59, 74 and 84 square meters, focusing on mid-size layouts favored by end users. Kumho E&C said the complex will be oriented mainly to the south and use a “4-bay” design to improve daylight and ventilation. In an earlier pre-subscription, the 84-square-meter type posted a 53.4-to-1 competition rate, the company said. Wangsuk District 2 is a new town planned to accommodate about 16,000 households and is about 5 kilometers from Seoul’s boundary, the company said. It is near other large development areas, including Wangsuk District 1, Dasan New Town and the Yangjeong station-area project, allowing residents to share infrastructure. Within about 1 kilometer of the complex, a new station tentatively called “Station 946” is planned on an extended Seoul Subway Line 9 route and the Gyeongui-Jungang Line, according to the company. Transfers to the GTX-B line are expected to be convenient via Wangsuk District 1, one stop away. Kumho E&C said residents are expected to use nearby Dasan New Town amenities at move-in, including Hyundai Premium Outlets and E-Mart. Nearby green and leisure facilities include Ilpae Neighborhood Park, Dasan Central Park and the Namyangju Sports and Culture Center. The company said education and daily-life facilities are also planned, with sites for a kindergarten and elementary and middle schools within walking distance, and proximity to a future-oriented education space called “WE Dream Park.” It added that a central commercial district site is nearby, which it said should reduce inconvenience in the early period after move-in. Kumho E&C said additional development is planned in the area, including the Wangsuk Urban Advanced Industrial Complex in Jingeon-eup, expected to host advanced industries such as artificial intelligence and biotechnology. It also cited plans including a Kakao data center and a Woori Financial Group financial R&D center. * This article has been translated by AI. 2026-04-23 05:08:26