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  • Seoul Education Chief Jeong Geun-sik Unveils Vision for Second Term
    Seoul Education Chief Jeong Geun-sik Unveils Vision for Second Term Seoul's Superintendent of Education Jeong Geun-sik has announced a new vision for his second term, titled 'Basic Education for All, Happy Cooperative Education.' This vision aims to expand the constitutional right to education from the current focus on primary and secondary education to include lifelong learning for children as young as three and adults, including seniors. During a press conference held on the fourth floor of the Seoul Metropolitan Office of Education on July 22, Jeong officially presented the vision and key policy directions for his second term. The core concept emphasized by Jeong is 'basic education.' He stated, "Article 31 of the Constitution declares that 'all citizens have the right to receive equal education,' but this has been limited to primary and secondary education. We must significantly expand the state's responsibility for education from early childhood learning to lifelong learning throughout life." To achieve this, he outlined four key principles: strengthening national responsibility for education for children aged 3 to 5, ensuring basic academic skills and building a robust learning safety net, systematizing democracy and constitutional education inside and outside the classroom, and expanding school-based lifelong education to include parents and seniors. The educational indicators proposed are 'Start with a strong foundation, ensure solid basics, and promote diverse growth.'One Learning Diagnosis Growth Center and Healing Schools to be Established... Five Policy Directions to be ImplementedThe Seoul Metropolitan Office of Education has also detailed five policy directions to root this basic education discourse in practice. First, to foster 'future-oriented holistic education through creativity and empathy,' the number of students receiving artificial intelligence (AI) and digital literacy assessments will be significantly increased to 100,000 annually by 2028, and each student will be encouraged to participate in at least one arts or sports activity to promote balanced growth. Additionally, to ensure 'responsible education that guarantees learning for all,' the 'Seoul Learning Diagnosis Growth Centers' will be expanded to all 25 districts to assist students with borderline intelligence and dyslexia. The establishment of a public alternative school, tentatively named 'World Middle School,' and the expansion of special education schools are also key initiatives. Furthermore, a sustainable democratic citizenship education program will be developed, systematizing constitutional, historical, and global citizenship education, and expanding rural study programs from the existing Jeolla, Gangwon, and Jeju regions to include Chungcheong and Gyeongsang provinces. The 'Seoul Parent School 365' initiative will also be strengthened to support parental education. As part of 'shared educational welfare' to build a robust safety net, support for public transport costs and one-day field trip expenses will be provided, along with a phased implementation of free education for children aged 3 to 5. A Korean language preparatory school linked with universities will be established to help students from immigrant backgrounds adapt to school, enhancing educational safety nets through focused Korean language education and tailored support. Finally, to create a 'safe and peaceful educational community,' Jeong has prioritized the establishment of 'healing schools' to assist students facing mental health crises. To protect teachers' rights, the scope of immunity for legitimate disciplinary actions will be expanded, and legal support will be provided to ensure a secure teaching environment.“Comprehensive Democratic Citizenship Education Plan to be Announced in August... We Must Maintain 20.79% of Education Grants to Realize Our Vision”During the Q&A session following the vision announcement, Jeong addressed recent educational issues. Regarding the controversy over hate speech in schools and the effectiveness of democratic citizenship education, he remarked, "This is not a problem that can be solved with a few hours of one-sided instruction; intergenerational dialogue to listen to the concerns of students and youth is crucial. We will establish and announce a comprehensive democratic citizenship education plan in August." On the contentious issue of local education financial grants, Jeong expressed a strong commitment to maintaining these funds. He stated, "The 20.79% ratio linked to domestic tax revenue is a symbolic figure for educational finance that must be preserved. If grants are reduced in the current situation where reserve funds are rapidly depleting, it could jeopardize the implementation of the vision announced today, including integrated education and lifelong learning support." Additionally, regarding the conflict over the transition of single-gender schools to co-educational institutions, he noted, "This is necessary from the perspective of future population demand and gender equality education, and we will actively utilize conflict resolution committees to address this issue." In response to calls for the abolition of the direct election system for superintendents, he stated, "Educational autonomy is a constitutional value, so I oppose the abolition of direct elections, but we can consider supplementary measures such as party recommendations." Jeong concluded the press conference by stating, "Seoul is a city with the most educational resources and simultaneously the largest educational disparities. I will respond to this trust with quiet action, ensuring that not a single student is left behind in learning and growth."* This article has been translated by AI. 2026-07-22 13:16:00
  • BofA Projects HBM Market to Reach $246 Billion by 2030, Driven by AI Investment
    BofA Projects HBM Market to Reach $246 Billion by 2030, Driven by AI Investment Bank of America (BofA) has projected that the high bandwidth memory (HBM) market will grow to $246 billion by 2030, fueled by increased investment in artificial intelligence (AI). This represents a sevenfold increase from the current market size of approximately $35 billion over the next five years. On July 21, Yahoo Finance reported that BofA recently added Micron Technology, a U.S. memory semiconductor company, to its 'US 1 List' of top stock picks. Vivek Arya, a BofA analyst, maintained a 'buy' rating on Micron with a target price of $155. BofA anticipates that the demand for memory semiconductors, including HBM, will surge due to the proliferation of AI, accelerating growth in the overall semiconductor market. In a report last month, BofA raised its global semiconductor revenue forecast for 2030 from $2.3 trillion to $2.7 trillion (approximately 4,000 trillion won). BofA estimates that the AI data center systems market alone will reach $1.7 trillion by 2030. The demand for HBM, essential for expanding AI data center investments, is expected to rise rapidly, and long-term supply contracts will enhance the stability of memory companies' performance compared to the past. Furthermore, BofA noted that memory semiconductors are shifting from being volatile products influenced by economic conditions to becoming a long-term growth industry driven by AI. BofA identified Micron as a key beneficiary of these market changes. Micron has secured 16 long-term supply contracts targeting data centers, consumer products, and automotive sectors. Analysts suggest that the increasing demand for AI memory and limited supply capacity could lead to prolonged memory shortages.* This article has been translated by AI. 2026-07-22 13:16:00
  • Seoul Mayor Criticizes Presidents Real Estate Transaction Method
    Seoul Mayor Criticizes President's Real Estate Transaction Method The controversy surrounding President Lee Jae-myung's sale of his apartment in Bundang is spreading through the political arena. On July 22, Seoul Mayor Oh Se-hoon criticized the current government's real estate loan regulations via his social media, stating, "Even the president has to consider such methods to sell a single house."In his Instagram post, Mayor Oh said, "I do not intend to criticize the president's transaction. It may even be something to be thankful for," but he sharply pointed out, "The president has personally demonstrated how abnormal the current real estate regulations have made the market."He emphasized, "Where is the clearer evidence of regulatory failure? If the president needed flexibility, the citizens need it even more desperately."Mayor Oh defined the core issue of this transaction as the "difference between the president and the citizens." He stated, "The president had options, but for those who are first-time homebuyers limited by a loan cap of 200 million won, there are no options at all," criticizing the uniform loan regulations for obstructing citizens' ability to purchase homes.He directed his comments toward the upcoming national discussion on real estate scheduled for July 23, saying, "What citizens are most urgently requesting is a plea to revise the suffocating uniform loan regulations," and added, "If you remember the frustration felt during this transaction, you should be able to respond at that meeting tomorrow."Political circles interpret his remarks not merely as a social media critique but as an offensive targeting the overall real estate policies of the Lee Jae-myung administration.Particularly, as it has been revealed that the president's transaction involved consideration of the buyer's financial situation, critics argue, "Isn't it an acknowledgment that even the president finds it difficult to conduct normal transactions under the current regulations?"In contrast, the government and ruling party maintain that this transaction was a normal sale conducted within the bounds of current law, asserting that generalizing personal transactions as evidence of policy failure is unreasonable.Mayor Oh reiterated the need for a shift in real estate policy, stating, "Creating a financial environment that works for actual homebuyers is a priority over uniform regulations that ignore market realities."This dispute is evolving beyond a simple apartment sale controversy, potentially symbolizing a direct clash between 'regulation-centered real estate policy' and 'restoration of market functions.'* This article has been translated by AI. 2026-07-22 13:12:00
  • Danggeun Pay Surpasses 300,000 Merchants for In-Person Payments
    Danggeun Pay Surpasses 300,000 Merchants for In-Person Payments Danggeun Pay's in-person payment service has surpassed 300,000 merchants just one year after its launch.On July 22, Danggeun, the company behind the mobile payment service, announced key achievements as it marks the first anniversary of its in-person payment service.Danggeun Pay's in-person payment is a QR-based offline payment service available at various local stores, including convenience stores, cafes, and bakeries.Since its launch in June 2025, the number of merchants accepting in-person payments has exceeded 300,000. As of June, the cumulative number of merchants that processed in-person payments has increased 12-fold compared to July 2025, when the service was first introduced. During the same period, the monthly transaction volume has grown more than six times, and the number of monthly payment transactions has increased nearly fourfold.The use of Danggeun Points has also seen significant growth. Last month, the amount of Danggeun Points used for in-person payments surged 210 times compared to the early days of the service, while the number of transactions using these points increased 21 times.A representative from Danggeun Pay stated, "In-person payments provide users with a more convenient payment experience in their neighborhoods, while also offering business owners new opportunities to connect with customers, allowing us to grow together."* This article has been translated by AI. 2026-07-22 13:12:00
  • Han Yuwon Releases First Retail and Marketing Trends Report
    Han Yuwon Releases First Retail and Marketing Trends Report The Korea Small and Medium Enterprises Distribution Agency has begun providing distribution and marketing information to enhance the market responsiveness of small and medium-sized enterprises, as well as venture and small businesses.On July 22, Han Yuwon announced the release of its first 'Retail and Marketing Trends Report' for the first half of 2026.The 'Retail and Marketing Trends Report' offers research, statistics, and field case studies on the rapidly changing distribution environment. It includes an analysis of key trends in distribution and marketing for the first half of the year, changes and trends in various distribution channels, exemplary cases of institutional support projects, the current status of AI utilization among small and micro businesses, key statistics in the consumer and distribution markets, and a schedule for support projects in the second half of the year. The report is primarily designed with visual materials such as charts and infographics.Readers can participate in a satisfaction survey through a QR code included in the report, and Han Yuwon plans to improve the content based on the survey results for the release of the second half trends report in December.Earlier, in May, Han Yuwon signed agreements with 18 companies to support the online competitiveness of small businesses.Lee Tae-sik, CEO of Han Yuwon, stated, "This report is composed of practical marketing information that small and medium-sized enterprises and venture businesses can easily access and utilize in the distribution field."* This article has been translated by AI. 2026-07-22 13:04:00
  • Government Moves to Allow Early Morning Deliveries for Large Supermarkets
    Government Moves to Allow Early Morning Deliveries for Large Supermarkets The government is pushing to allow early morning deliveries for large supermarkets. This initiative aims to address the competitive disadvantage against e-commerce and enhance the competitiveness of the retail industry. As consumer lifestyles have shifted to a 24-hour online focus, it is deemed inequitable to keep offline retailers bound by outdated regulations. Although this change comes late, it is a step in the right direction. Beyond permitting early morning deliveries, it is time to gradually revise the mandatory closure regulations for large supermarkets to align with current market conditions.The mandatory closure system for large supermarkets was introduced in 2012 to protect traditional markets and local businesses. At that time, large supermarkets dominated the offline retail market, and there was a social consensus on the need for regulations to protect local economies. However, over a decade later, the market environment has changed dramatically. Consumers can order products anytime via smartphones, and online platforms now offer late-night and early morning deliveries. The focus of the retail market has long since shifted online.Yet, large supermarkets are still required to close their doors monthly and face restrictions on operating hours, which is anachronistic. The same regulations do not apply to online platforms. This creates a structure where regulations are concentrated solely on offline retailers, which contradicts the principles of fair competition and limits consumer choice.The situation with Homeplus highlights the limitations of these regulations. While the company's financial difficulties cannot be attributed solely to the mandatory closure rules, factors such as excessive acquisition financing, lack of investment, and failure to adapt to rapidly changing market conditions are fundamental causes. However, it is undeniable that the mandatory closure and operating hour restrictions have hindered its competitiveness. Offline retailers are essentially entering the competition with one hand tied behind their backs.Moreover, the crisis at Homeplus is not an isolated issue. If large supermarkets fail, numerous partner companies, suppliers, and small businesses will face cascading difficulties. Local employment will also be significantly affected. The retail industry operates as an ecosystem, and the weakening of a specific company's competitiveness reverberates through to partners and consumers.Allowing early morning deliveries could be the first step in correcting this imbalance. However, this alone is not sufficient. The mandatory closure regulations must also be gradually improved, taking into account consumer benefits and market realities. Local governments should be allowed to adjust closure days based on regional conditions, and converting mandatory closures on public holidays to weekdays or expanding options based on locality should be considered. The key is not uniform regulations but a flexible system that aligns with the changed market.Of course, the goal of protecting traditional markets and local businesses remains important. However, the approach to protection should not be limited to regulation. The focus should shift to policies that enhance competitiveness, such as supporting digital transformation, modernizing facilities, establishing shared logistics, and expanding online sales channels. Policies that empower the market to compete are more sustainable than those that artificially restrict it.Regulation is a means, not an end. As times change, regulations must also evolve. In an era where the boundaries between online and offline have blurred, clinging to outdated standards will not yield benefits for business competitiveness, consumer welfare, or the revitalization of local economies. The Homeplus situation serves as a warning of how far policy has lagged behind structural changes in the retail industry. If the government uses the opportunity of allowing early morning deliveries to redesign the mandatory closure regulations to fit current realities, it could enhance the competitiveness of the retail industry and benefit consumers, partners, and the local economy.* This article has been translated by AI. 2026-07-22 13:00:00
  • Richest income rise while the rest 80% Korean families see fall Q1
    Richest income rise while the rest 80% Korean families see fall Q1 SEOUL, July 22 (AJP) - South Korea’s top-income urban households gained purchasing power in the first quarter as public and private transfers increased, while real incomes fell across the remaining 80 percent amid weaker employment and business earnings. Real income, which adjusts household income for inflation, declined from a year earlier in each of the bottom four income quintiles, according to Ministry of Data and Statistics figures available through the Korean Statistical Information Service, or KOSIS. Only the highest-income 20 percent recorded an increase. It was the first time since the second quarter of 2023 that real income had fallen simultaneously across the bottom 80 percent of urban households. The top quintile also recorded a decline during the earlier period. Average monthly real income for the top quintile rose 1.6 percent, or 163,368 won, from a year earlier. The fourth quintile, immediately below the top-income group, suffered the steepest decline at 2.3 percent, or 130,585 won a month. Real income fell 1.7 percent in the second quintile, 1.5 percent in the third and 1.3 percent among the lowest-income fifth. Weaker employment and business earnings weighed on the four lower groups. Employment income dropped 8.2 percent in the bottom quintile, 6.8 percent in the second and 7.3 percent in the fourth. The middle quintile recorded a 0.3 percent increase in employment income, but business income fell 12.5 percent, leaving its overall real income lower. Income earned from work, businesses and assets also remained weak among the top quintile. Its employment income rose just 0.8 percent, while business income fell 6.3 percent and property income declined 11.8 percent. Transfer income instead rose 24.6 percent to an average of 1.12 million won a month. Public transfers increased 9.4 percent. The category includes contributory pensions such as the national and private-school pension schemes, which are not limited to low-income households, as well as government benefits. Private transfers surged 69.1 percent and include money received from relatives or other households, such as living expenses, allowances and family support. The ministry said transfers often rise during the first quarter as families exchange money around the Lunar New Year holiday. Among top-income households, the increase reflected larger amounts being transferred rather than a sharp rise in the number of recipient households, according to the ministry. The pattern was different for the bottom quintile, where transfer income accounted for 63.6 percent of total income but fell 1.1 percent as public transfers declined 3.2 percent. Employment income for the group also dropped 8.2 percent. The urban breakdown contrasted with the nationwide average released in May. Average monthly income among all households rose 2.4 percent from a year earlier to 5.48 million won, while real income increased 0.4 percent. Four of the five urban income groups nevertheless recorded lower real income, while the gain among the top quintile came mainly from public and private transfers rather than stronger employment, business or property income. Income inequality also widened. After adjusting for household size, disposable income among the top 20 percent was 6.59 times that of the bottom 20 percent, up from 6.32 times a year earlier. The ministry cautioned that quarterly household income can fluctuate because of seasonal factors such as holiday transfers and corporate bonuses, and said longer-term changes should be assessed alongside annual household surveys. 2026-07-22 12:52:01
  • Conflict Among Senior Members of People Power Party Over Committee Chair Positions
    Conflict Among Senior Members of People Power Party Over Committee Chair Positions Senior members of the People Power Party are experiencing friction over the allocation of committee chair positions. This tension has arisen after an agreement was reached between the party leadership and three-term lawmakers, leading to dissatisfaction among some four-term lawmakers.On July 22, the People Power Party will accept candidate registrations for chair positions in several committees, including the Education Committee, Foreign Affairs and Unification Committee, Industry, Trade, and Small and Medium Enterprises Committee, Health and Welfare Committee, Land, Infrastructure and Transport Committee, Intelligence Committee, and Gender Equality and Family Committee.While committee chairs are typically elected through a vote in the National Assembly, it is customary for the party to coordinate internally, resulting in only one candidate per committee. The People Power Party will conduct a vote among its members when finalizing candidates for committee chairs. However, this process usually involves a pre-agreed candidate, leading to a simple yes-or-no vote. If no consensus is reached, multiple candidates may compete in a primary during the party meeting.On the previous day, Representative Kim Seong-won announced the agreed-upon list of committee chairs, which includes Lee Man-hee (Health and Welfare), Kim Seong-won (Industry, Trade, and Small and Medium Enterprises), Kim Hee-jung (Education), Lim Yi-ja (Gender Equality), Lee Yang-soo (Intelligence), and Kim Jeong-jae and Song Seok-jun (Land and Infrastructure, Foreign Affairs). It was agreed that Kim Jeong-jae and Song Seok-jun would each serve as chair for one year in the Land and Infrastructure and Foreign Affairs committees, respectively.However, four-term lawmakers Ahn Cheol-soo and Yoo Yi-dong expressed their discontent, shifting the atmosphere. Typically, committee chairs are held by three-term lawmakers or some four-term lawmakers. Ahn and Yoo voiced their discomfort after the announcement of a committee chair list composed solely of three-term lawmakers, excluding them despite their previous experience.In this context, Jeong Jeom-sik, the party's floor leader, was scheduled to meet with Ahn, who is interested in the Foreign Affairs Committee chair, but they ended up exchanging views over the phone due to circumstances. Yoo, who is seeking the chair of the Land Committee, has decided to proceed with a primary and has completed his candidate registration. As a result, a primary is expected to take place for at least one committee chair during the party meeting scheduled for July 23.Jeong stated to reporters, "There is a tradition in place. There are reasons why some did not or could not serve as committee chairs during their three-term period, and saying, 'I couldn't do it during my three terms, so I will do it during my four terms' is not something that can be easily understood within the party." 2026-07-22 12:36:00
  • KOSPI Surges Over 5% Before Settling; Foreign Investors Buy 1.3 Trillion Won
    KOSPI Surges Over 5% Before Settling; Foreign Investors Buy 1.3 Trillion Won The KOSPI index surged over 5% in morning trading, briefly reclaiming the 7,100 mark before giving back some gains. The rise was fueled by strong performances in U.S. semiconductor stocks, with major companies like Samsung Electronics and SK Hynix seeing significant increases as foreign investors net bought over 1.3 trillion won, boosting the index.As of 11:56 a.m. on July 22, the KOSPI was up 327.75 points (4.86%) at 7,075.70. The index initially climbed more than 5% to surpass 7,100 but later reduced its gains.Foreign investors were net buyers of 1.3777 trillion won, while individual and institutional investors sold 869.7 billion won and 514.7 billion won, respectively.Most of the top market capitalization stocks were performing well. Samsung Electronics traded at 271,500 won, up 4.83%, while SK Hynix rose 6.59% to 1,957,000 won. Other gainers included Samsung Electro-Mechanics (7.71%), Hyundai Motor (6.52%), Samsung Electronics Preferred (6.19%), Samsung Life Insurance (4.59%), and SK Square (4.39%).The KOSPI's sharp rise triggered a temporary trading halt known as a 'buy-side circuit breaker' at 9:06 a.m., as the KOSPI 200 futures price remained above 5% for one minute. This marked the 20th buy-side circuit breaker of the year.The KOSDAQ index also continued its upward trend, showing an increase of 15.56 points (2.07%) to 768.90 at the same time.In the KOSDAQ market, individual investors net bought 73.5 billion won, while foreign and institutional investors sold 43.4 billion won and 27.2 billion won, respectively.Among the top KOSDAQ stocks, Rainbow Robotics surged 20.66% to 496,500 won, while EcoPro (4.92%), EcoPro BM (4.15%), and Rino Industrial (4.86%) also saw gains. Conversely, Peptron fell 6.24%, and Juseong Engineering dropped 1.36%.The strong rebound in U.S. semiconductor stocks overnight is believed to have boosted investor sentiment in the domestic market. The Philadelphia Semiconductor Index rose 5.21%, with major semiconductor companies like Micron and SanDisk experiencing significant gains.However, as the index's gains have moderated from the early session, market participants are closely watching whether the KOSPI can maintain its position above 7,100 and if foreign investors will continue their substantial net buying in the afternoon session.* This article has been translated by AI. 2026-07-22 12:08:00
  • Household Net Worth Rises to 274.75 Million Won Amid Housing Market Gains
    Household Net Worth Rises to 274.75 Million Won Amid Housing Market Gains Last year, the average household net worth per person, excluding debt, increased by 9.1% due to rising housing prices and financial asset growth. While the total national wealth also rose by 2.2%, the increase in housing assets was concentrated in the metropolitan area, widening the asset gap between regions.According to the '2025 National Balance Sheet (provisional)' released on July 22 by the Bank of Korea and the National Data Agency, the estimated per capita household net worth last year was 274.75 million won, up from 251.84 million won the previous year. Converted at last year's average market exchange rate of 1,422 won per dollar, this amounts to approximately $193,000.As of 2024, the per capita household net worth by country is as follows: the United States ($514,000), Australia ($422,000), Canada ($297,000), Germany ($267,000), France ($235,000), the United Kingdom ($204,000), South Korea ($185,000), and Japan ($172,000). South Korea has maintained its lead over Japan for three consecutive years since first surpassing it in 2022.Last year, the net worth of households and non-profit organizations reached 1,420 trillion won, a 9.0% increase (116.7 trillion won) from the previous year. Among this, non-financial assets, including housing, amounted to 1,034 trillion won, up 5.0% (49.4 trillion won), while net financial assets rose to 376.7 trillion won, an increase of 21.8% (67.4 trillion won).Housing accounted for the largest share of household net worth at 50.4%, followed by non-housing non-financial assets (23.0%), cash and deposits (18.9%), insurance and pensions (13.3%), and equity securities and investment funds (11.5%). However, the overall share of real estate, including housing, slightly decreased to 74.6% from 75.4% the previous year.The total net worth of the national economy, known as national net worth, was 2,456.1 trillion won at the end of last year, an increase of 531 trillion won (2.2%) from the previous year. This growth rate slowed compared to the previous year's increase of 5.0%. While non-financial assets, particularly land, increased, the decline in net external financial assets impacted the overall growth.Of the increase in national net worth, 319 trillion won was attributed to transactions, while 212 trillion won was due to non-transaction factors such as asset price fluctuations. The transaction factors saw a slight increase compared to the previous year, driven by expanded net acquisition of financial assets. However, the non-transaction factors were limited as the rise in domestic stock prices significantly increased the won-denominated value of external financial liabilities, reducing the overall growth.Real estate assets increased to 1,783.6 trillion won at the end of last year, up 4.1% (70.9 trillion won) from the previous year. Notably, the market capitalization of housing rose to 7,710 trillion won, an increase of 8.0% (57.1 trillion won), surpassing the previous year's growth rate of 3.9%.However, the asset increase was concentrated in the metropolitan area. The contribution of the metropolitan area to the housing market capitalization growth rate was 7.4 percentage points, while non-metropolitan areas contributed only 0.6 percentage points, accounting for 92.8% of the total increase.By region, the housing market capitalization in Seoul was 2,894 trillion won, representing 37.5% of the total, followed by Gyeonggi (2,192 trillion won), Busan (398 trillion won), and Incheon (341 trillion won). The metropolitan area's share also expanded from 68.6% to 70.4%, an increase of 1.8 percentage points.In contrast, the national economy's net external financial assets decreased by 20.4% (32.6 trillion won) to 1,271 trillion won compared to the previous year. Although financial assets increased, the rise in domestic stock prices significantly boosted the value of foreign ownership of domestic stocks, leading to a greater increase in financial liabilities than in financial assets.Nam Min-ho, head of the Bank of Korea's Balance Sheet Team, stated, "The significant rise in the KOSPI last year compared to the U.S. S&P 500 and Euro Stoxx had a decisive impact on the decrease in net external financial assets. The increase in the value of foreign holdings of domestic stocks led to a greater rise in financial liabilities than in financial assets."He added, "As housing prices have recently shown a rising trend again, the increase in housing market capitalization has also expanded. However, we believe that the government's real estate policies had little impact on the rate of increase in land prices and residential land prices."* This article has been translated by AI. 2026-07-22 12:04:00