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

Samsung invests in US biotech firm specialized in early cancer detection SEOUL, October 17 (AJP) - Samsung Electronics and Samsung C&T will jointly invest $110 million in Grail, a U.S. biotechnology company specializing in early cancer detection, as the South Korean conglomerate expands its footprint in digital health care, the firms said Friday. Grail, a subsidiary of Illumina, has developed technology that detects cancer-related DNA fragments in blood samples and uses artificial intelligence to predict both the presence and likely location of cancer. Its flagship product, Galleri, can identify more than 50 types of cancer through a single blood test. Since its launch in 2021, the company has performed more than 400,000 tests worldwide. Under the partnership, Samsung Electronics plans to integrate Grail’s data with its Samsung Health platform to enhance personalized health monitoring and preventive care services. Samsung C&T, the group’s trading and construction arm, will exclusively distribute the Galleri test in South Korea and collaborate with Grail to expand access in Singapore and Japan. “This investment and partnership aim to improve health through technology, offering personalized digital health experiences,” said Park Heon-soo, head of Samsung Electronics’ digital health team. The move underscores Samsung’s growing ambitions in the health technology sector, as the company looks to pair its consumer electronics and data platforms with advances in medical diagnostics. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-17 10:04:45

Swedish royals tour SM Entertainment to explore K-pop's global reach SEOUL, October 17 (AJP) - Sweden’s Crown Princess Victoria and Prince Daniel visited SM Entertainment on Thursday, highlighting the growing cultural ties between Sweden and South Korea and the global influence of the K-pop industry, the company said Friday. The royal couple’s visit to the Seoul-based entertainment powerhouse was part of their official trip to South Korea, which focuses on fostering exchange in the cultural and creative sectors. At SM Entertainment’s headquarters, the couple was greeted by co-chief executives Jang Cheol-hyuk and Tak Young-jun, along with Chief A&R Officer Lee Sung-soo and Chief Global Officer Choi Jung-min. They toured key creative spaces, including recording and artist studios, and were briefed on SM’s global production system and digital technology infrastructure. Prince Daniel described SM Entertainment as a “true music company,” expressing particular interest in the collaboration between Swedish composers and K-pop producers — a partnership that has shaped the sound of many global hits. He praised the “creative synergy” between the two countries’ music industries. During the visit, the royals met with members of Hearts2Hearts, a rookie girl group under SM, to discuss their musical activities and training process. The artists presented the couple with signed albums and merchandise, gifts the royals called “unforgettable.” In a meeting with company executives, discussions centered on K-pop’s international influence and the sustainability of its creative ecosystem. Co-CEO Jang Cheol-hyuk underscored the long-standing collaboration between SM and Sweden’s music scene, expressing hope for continued partnership and innovation. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-17 09:51:17

OPINION: Rising tide of hate, from Washington to Seoul SEOUL, October 17 (AJP) - The legacy of Donald Trump’s presidency continues to cast a long shadow across the world. His overt flirtation with white nationalism and xenophobia helped normalize racial prejudice in American discourse — and its ripple effects have not stopped at the U.S. border. Across Europe and Asia, far-right movements have found renewed confidence, reshaping politics and stoking divisions once thought to have faded into history. In Europe, anti-immigrant sentiment has become a defining force in national politics. Italy’s far-right prime minister, Giorgia Meloni, built her ascent on a platform steeped in nationalism and exclusion. Similar trends are emerging elsewhere: Japan’s right-wing parties have gained momentum, and the election of Takashi Sanae as leader of Japan’s ruling party has raised concerns about the country’s political direction and her potential to become its first female prime minister. This wave of xenophobia is not confined to Western capitals. Economic uncertainty and social anxiety are amplifying old prejudices worldwide. In Japan, anti-Korean and anti-Chinese sentiment — long embedded in the country’s imperial past — is resurfacing with emotional intensity. The echoes of that rhetoric are now being heard in South Korea, where unfounded anti-Chinese conspiracy theories and hostility are spreading rapidly online. The political atmosphere in Seoul has done little to cool these flames. Former President Yoon Suk Yeol’s administration distanced itself from Beijing and Pyongyang while deepening ties with Washington and Tokyo — a recalibration that some say has sharpened ideological divides at home. In recent months, lawmakers from the right-wing parties have advanced an “anti-Chinese shopping law,” a measure built on dubious claims and public misinformation. Such moves risk legitimizing prejudice under the guise of patriotism. Hate speech is not free expression. It is a form of violence — one that corrodes democratic societies from within. Europe, for all its political tensions, has responded to hate-driven protests with firm legal measures. South Korea, by contrast, has shown little appetite to confront the extremism festering online. The cost of inaction will not be abstract. When governments hesitate to defend the principles of tolerance and pluralism, they open the door to chaos and division. The rise of extremism — whether in Washington, Rome or Seoul — should serve as a warning: societies that fail to challenge hate will one day find themselves consumed by it. About the author -Ph.D. in Political Science, Inha University -Former Visiting Professor, Inha University Graduate School of Policy -Former member, Election Broadcast Review Committee -Former Director, Institute for Innovation and Future * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-17 08:43:11

Seoul confident of Washington's "understanding" on Korea's FX situation SEOUL, Oct. 17 (AJP) – Seoul held firm against U.S. President Donald Trump’s demand that Korea’s pledged $350 billion investment be made in upfront cash, expressing confidence that Washington’s financial and trade officials understand Korea’s vulnerability to large foreign capital outflows. Deputy Prime Minister and Finance Minister Koo Yun-cheol said U.S. officials have shown understanding of Korea’s position. “I met Secretary Scott Bessent at the G20 meeting. He understands that stabilizing South Korea’s foreign exchange market benefits both countries,” Koo told reporters in Washington on the sidelines of the G20 Finance Ministers and Central Bank Governors Meeting, adding that Bessent was interested in cooperating with Korea to ensure market stability. Koo said Bessent recognizes the challenges Korea faces regarding the upfront payment issue and likely discussed the matter with U.S. Commerce Secretary Howard Lutnick. When asked if Washington may drop the upfront payment demand, Koo replied that the U.S. side “understands our position, which could be favorable for us.” He emphasized that while Korea seeks to accelerate tariff negotiations — ideally by the Asia-Pacific Economic Cooperation (APEC) summit — any agreement should not compromise national interests. He pointed to the 25 percent U.S. tariff on automobiles as a key area needing prompt attention but noted that progress depends on mutual understanding and flexibility. On a possible currency swap facility, Koo said the instrument is one option to maintain market stability, though it is not the sole focus at this time. Soon after, Bessent told CNBC that Washington was “about to finish up with Korea,” echoing Seoul’s stance on the need for a currency swap arrangement to ease exchange rate volatility amid the planned investment outflow roughly equivalent to Korea’s foreign exchange reserves. Trump, however, reiterated that he expects Korea to make the full $350 billion payment upfront. Meanwhile, other senior Korean policymakers in Washington — Industry Minister Kim Jung-kwan and Presidential Policy Chief Kim Yong-bum — met separately with Russell Vought, director of the Office of Management and Budget (OMB), which oversees U.S. shipbuilding efforts. The officials highlighted Korea’s role in the proposed investment package under the slogan “Make American Shipbuilding Great Again.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-17 07:48:06

USFK lodges protest over raid by prosecutors SEOUL, October 16 (AJP) - The U.S. Forces Korea (USFK) has lodged a protest over an abrupt raid on its base in Pyeongtaek in July. In a letter sent to the Ministry of Foreign Affairs earlier this month, Lt. Gen. David Iverson, deputy commander of the USFK, expressed concerns over the July 21 raid of Osan Military Base by independent prosecutors investigating disgraced former President Yoon Suk Yeol's martial law debacle late last year. Washington took issue with the raid, saying it violated procedures under the bilateral Status of Forces Agreement (SOFA), which stipulates the legal status, rights, and obligations of U.S. military personnel stationed here. Although the raid was conducted in areas under South Korean military control only, those zones still had to be accessed through U.S.-controlled areas, reportedly requiring prior consultation. When asked about the development, the ministry declined to comment, deeming it "inappropriate" due to diplomatic protocol. Meanwhile, Park Ji-young, a spokesperson for the independent prosecutors, reiterated at a briefing that there was no violation of the SOFA. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-16 17:28:20

Asian stocks upbeat, KOSPI leads the pack to new highs SEOUL, October 16 (AJP) - Asian shares extended gains on Thursday as expectations for a U.S. rate cut outweighed concerns over renewed trade tensions between Washington and Beijing. Korea’s benchmark KOSPI jumped 2.49 percent to close at a record high of 3,748.37, driven by strong foreign and institutional buying. Nine of the top 10 blue chips advanced, led by an 8 percent surge in Hyundai Motor and a 7 percent rise in Kia Motors amid growing optimism for a breakthrough in Seoul–Washington tariff talks. The Supreme Court’s ruling on SK Group Chairman Chey Tae-won’s $1 billion divorce case drew heavy attention, sending related stocks in mixed directions. SK hynix climbed 6.98 percent to 452,000 won (US$318.61), while holding company SK Inc. slid 5.62 percent to 218,500 won. Preferred shares of SK Discovery, another Chey-affiliated firm, eased 1.25 percent to 35,550 won. Elsewhere in the region, Taiwan’s TAIEX continued its upward momentum, rising 1.36 percent to 27,647.87, while Japan’s Nikkei 225 added 1.27 percent to close at 48,277.74. China-related markets remained subdued. The Shanghai Composite Index fluctuated throughout the session before ending 0.1 percent higher at 3,916.23, while the Shenzhen Component Index slipped 0.25 percent to 13,086.41. Data from the National Bureau of Statistics showed declines in both the consumer price index and producer price index, heightening concerns over slowing domestic demand. Markets in Hong Kong and Singapore opened lower as financial shares retreated. Investors worried that further U.S. rate cuts could compress banking-sector margins. The Hang Seng Index and Straits Times Index were each down about 0.3 percent in afternoon trading. 2025-10-16 17:13:25

Chinese shoppers turn increasingly budget in Korea, duty-free shops shift strategy SEOUL, October 16 (AJP) - Chinese tourists are returning to South Korea in full force under the one-year visa waiver for group travelers, but their spending behavior has changed dramatically. Rather than binge shopping at duty-free stores, visitors are now showing a preference for budget-friendly and value-driven purchases. The post-pandemic shift reflects growing familiarity among Chinese consumers with Korean brands and retail platforms. Instead of traditional package-tour splurges, travelers are opting for self-directed shopping experiences centered on price and authenticity. Curated local franchises such as Olive Young, Daiso, and Musinsa — collectively dubbed “Ol-Da-Mu” — have become must-visit stops for young Chinese tourists seeking Korean beauty, fashion, and household goods. “Since COVID, travel patterns from China have changed drastically,” said a Seoul-based travel analyst. “Before, group tourists consumed heavily in duty-free and luxury. Now, they travel more flexibly, plan their own itineraries, and buy mid-priced or unique brands they’ve seen on social media. Ol-Da-Mu is popular among Chinese influencers, so many visitors decide in advance what to buy and hunt for those items locally.” Duty-free retailers, once reliant on high-volume Chinese spending, are now adapting quickly. Shinsegae Duty Free has expanded its premium beauty-device lineup at its Myeong-dong flagship store, launching a pop-up for MediCube’s Age-R Booster Pro — currently the best-selling beauty gadget among departing travelers. “Tourists from China, the U.S., Vietnam and other countries visit our booth,” a Shinsegae official said. “As interest in beauty devices grows globally, visitors in Myeong-dong are showing strong curiosity.” Foreign sales at Shinsegae’s Myeong-dong store rose about 25 percent during the Chuseok holiday period (Oct. 1–8), with younger Chinese travelers driving much of the growth. The company plans to expand premium device offerings to capture this evolving demand. Nationwide, the beauty-device segment is booming. MediCube’s sales jumped 102 percent between the second half of 2024 and the first half of 2025, according to Shinsegae. “Nowadays, the devices are so good that I’ve stopped going to dermatology clinics altogether,” said 32-year-old Seoul resident Yea-ji Park. “The high-frequency treatments I used to get can now be done freely at home.” “Korean beauty brands have built strong trust,” added Lee Ye-eun, a beauty show host. “While many devices are expensive, users see them as cost-effective compared with clinical treatments. People don’t spend on unknown brands — only trusted names with proven results.” According to the Korea Tourism Organization, about 2.52 million Chinese tourists visited Korea in the first half of 2025, up 13.8 percent from a year earlier. The reinstatement of China’s visa-free entry program on September 26 is expected to further accelerate arrivals in the coming months. 2025-10-16 17:11:40

Asian Culture Calendar SEOUL, October 16 (AJP) - South Korea Oct. 16 - Nov. 9 Seoul Performing Arts Festival Oct. 1 - Dec. 14 Scent of Korea in Silla Oct. 20 -29 Seorabeol Pungnyu (APEC Commemorative Performance) Oct. 18 - 22 Road Theater (Film and Drama Shooting Location Tour) China Oct. 24 - 26 IFAF Asia-Oceania Flag Football Championship Japan Oct. 22 Jidai Matsuri Oct. 27 - Nov. 5 Tokyo International Film Festival Taiwan Oct. 24 - 27 Art Taipei Fair Thailand Oct. 20 - 29 Thailand Vegetarian Festival Indonesia Oct. 19 -25 World Artistic Gymnastics Championships Oct. 23 -25 Gandrung Sewu Festival Oct. 25 -26 Indonesia Comic Con Oct. 29 - Nov. 2 Ubud Writers & Readers Festival Singapore Oct. 31 - Mar. 29, 2026 Singapore Biennale 2025-10-16 17:06:18

In Myeong-dong streets, anti-Chinese sentiment is nowhere SEOUL, October 16 (AJP) - The return of Chinese group tourists to Korea has been met with a mix of concern over disorderly crowds and optimism for an economic boost. Three weeks into the visa-waiver program, the outcome appears largely positive. Myeong-dong, Seoul's central shopping district, has regained its pre-pandemic bustle as Chinese tour groups return in force. Once stigmatized as noisy and unruly, Chinese budget travelers are leaving a more favorable impression this time. "We're seeing many Chinese tourists coming to see our performances these days, which was rare before. They were orderly and genuinely enjoyed the show," said Park Moon-kyung, manager at Myeongdong Nanta Theater. Chinese visitors also say they feel welcomed. "It's my first time visiting Korea, and I think it's the best city in Asia," said Xing Li, a 40-year-old traveler from a Chinese tour group under the banner 'Total Korea.' "I'm impressed that most Koreans can speak two or three languages." A female tour guide, who asked not to be named, said, "We've definitely seen more inquiries since the visa waiver began. I haven't noticed any anti-China protests, and our guests don't seem concerned. There's been no negative impact." Merchants in Myeong-dong echo similar views. "These days, we have customers from across Asia — Singapore, Indonesia, Hong Kong, and Japan," said a manager at the popular noodle chain Myeongdong Kyoja. "How orderly someone behaves depends on the individual, not the nationality." The visa waiver has clearly boosted Chinese arrivals. According to the Ministry of Justice, 525,396 Chinese nationals entered Korea last month, up 16.4 percent from a year earlier. Data from the Korea Tourism Organization shows that one in three foreign tourists who visited Korea in August was Chinese, totaling 605,000 visitors — surpassing the pre-pandemic level of August 2019 at 578,000. 2025-10-16 17:05:16