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  • Yujin Corporation Innovates Work Processes with Vibe Coding AI
    Yujin Corporation Innovates Work Processes with Vibe Coding AI Yujin Corporation, a subsidiary of Yujin Group, announced on August 20 that it is enhancing its employees' capabilities in utilizing artificial intelligence (AI) through its 'Vibe Coding' program, which allows staff to develop necessary work programs independently using generative AI.Since May, the IT Planning Team has conducted the 'AI Innovation Task Force Vibe Coding Program' for approximately two months. Thirteen teams of employees participated, completing a total of 21 projects.Vibe Coding involves describing the desired functionality to generative AI in natural language, which then generates code that employees can modify and enhance to complete their programs. This approach enables employees without professional coding experience to turn their ideas into actual services using AI.The program focused on empowering employees to identify improvement tasks in their work processes and implement them through AI-driven programs, moving beyond simple AI training. Employees translated their practical experiences into various projects aimed at increasing efficiency in repetitive tasks, information management, and field operations.To enhance the project outcomes for employees lacking coding experience, five mentors from Yujin IT Services participated. These mentors supported employees throughout the entire process, from idea conception and planning to program development, facilitating AI-based development.In July, a demo day was held where participating employees presented their developed projects. Outstanding projects were selected through evaluations by executives and participants, and Yujin Corporation is working on ways to apply these promising results to actual work processes.This program is significant as it moves away from traditional methods centered on AI specialists or IT departments, allowing employees who best understand their work to directly solve problems using AI. It aims to utilize AI as a practical tool for improving work processes rather than merely as an assistant.Yujin Corporation plans to continue strengthening its employees' AI capabilities following this program. In collaboration with Yujin IT Services, the company aims to establish a common AI infrastructure and run additional Vibe Coding courses to expand a culture of AI utilization throughout the organization.A Yujin Corporation representative stated, "It is important for employees to not only understand the principles of AI but also to apply it directly to their work and produce tangible results. We will continue to spread a culture of AI-driven work innovation across the organization."* This article has been translated by AI. 2026-08-20 11:24:00
  • Listed companies see profits more than triple in H1 on chip boom
    Listed companies see profits more than triple in H1 on chip boom SEOUL, August 20 (AJP) - South Korea's major listed companies saw their first half profits more than triple, driven by strong semiconductor earnings and broader gains across industries. According to data released earlier this week by the Korea Exchange (KRX) and the Korea Listed Companies Association (KLCA), combined revenue at 634 KOSPI listed companies rose 28.84 percent from a year earlier to 2,000.13 trillion won (US$1.4 trillion). Operating profit surged 254.15 percent to 388.15 trillion won, while net income jumped 333.30 percent to 386.67 trillion won. The sharp earnings lifted their operating margin to 19.41 percent from 7.06 percent, while the net profit margin climbed to 19.33 percent from 5.75 percent. Samsung Electronics and SK hynix accounted for much of the increase, but the improvement extended beyond the two chipmakers. Excluding them, combined revenue rose 15.01 percent to 1,562.86 trillion won, while operating profit climbed 75.61 percent to 143.28 trillion won. Net income more than doubled to 133.56 trillion won. The electronics sector, which includes the country's major chipmakers, was the strongest driver of the overall increase. Its revenue climbed 80.47 percent from a year earlier, while operating profit soared 674.92 percent and net income rose 697.01 percent. Other industries also posted substantial gains. Chemical companies recorded a 203.76 percent increase in operating profit and a 432.14 percent rise in net income, while the general services sector posted gains of 237.04 percent and 361.07 percent, respectively. But the gains were not across the board. Transportation and warehousing saw operating profit fall 17.71 percent and net income drop 62.53 percent. Earnings also weakened in the electricity and gas and telecommunications sectors. Earnings strengthened further in the second quarter. Combined revenue reached 1,075.28 trillion won, up 16.27 percent from the previous three months, while operating profit increased 48.56 percent to 231.99 trillion won. Net income climbed 73.70 percent to 245.40 trillion won. Electronics led the gains, with operating profit rising 56.84 percent from the first quarter and net income climbing 88.64 percent. Net income at chemical companies jumped 139.04 percent, while general services sector posted an 82.01 percent gain. The stronger results were also reflected in the number of profitable companies. Of the 634 firms surveyed, 519, or 81.86 percent, posted a profit in the first half, up from 485 a year earlier, while the number of loss-making companies fell to 115 from 149. Financial firms also posted stronger earnings, led by securities companies. Among the 42 firms surveyed, combined operating profit rose 36.07 percent from a year earlier to 41.20 trillion won, while net income increased 32.82 percent to 31.95 trillion won. Brokerages stood out, with operating profit surging 163.37 percent to 9.21 trillion won and net income jumping 161 percent to 7.09 trillion won. Insurers and financial holding companies also saw operating profit rise 22.9 percent and 20.89 percent, respectively. Banks were an exception to the broader upswing, with operating profit declining 5.18 percent and net income slipping 4.27 percent from a year earlier. The financial sector also gained momentum in the April to June period. Operating profit rose 16.82 percent from the first quarter to 22.20 trillion won, while net income increased 18.32 percent to 17.32 trillion won. Brokerages led the gains, with operating profit and net income rising 46.68 percent and 46.66 percent, respectively. AJP Takeaways • South Korea's 634 KOSPI-listed nonfinancial companies posted 388.15 trillion won in operating profit and 386.67 trillion won in net income in the first half of 2026, up 254.15 percent and 333.30 percent, respectively, from a year earlier. • Samsung Electronics and SK hynix were major drivers, but earnings growth extended beyond the two chipmakers. Excluding them, operating profit rose 75.61 percent and net income increased 119.68 percent from the first half of 2025. • Electronics led the earnings surge, with operating profit jumping 674.92 percent and net income rising 697.01 percent year over year in the January-June 2026 period. 2026-08-20 11:22:21
  • Japan to Build First Large Dock Since 2017, Reviving Shipbuilding Industry
    Japan to Build First Large Dock Since 2017, Reviving Shipbuilding Industry Namura Shipbuilding will construct a large dock in Japan for the first time since 2017. The shipbuilding industry is one of 17 key investment areas identified by the Takaiichi administration's growth strategy. The Japanese government plans to invest a total of 1 trillion yen (approximately $9 billion) by 2035 to double domestic shipbuilding volume.According to the Nihon Keizai Shimbun (Nikkei) on August 20, Namura Shipbuilding is set to build a large dock in Imari Bay, Saga Prefecture. Due to rising construction and equipment costs, the total investment is expected to reach around 100 billion yen (approximately $900 million), with subsidies from the government and local authorities also being allocated.This will be the first new large dock established in Japan since Imabari Shipbuilding built a dock at Marugame Shipyard in 2017. The dock constructed at that time measured approximately 600 meters in length and 80 meters in width, with an investment of about 40 billion yen (approximately $360 million).Namura Shipbuilding's main production facility in Imari currently operates a large dock measuring about 450 meters in length and 70 meters in width. The recent increase in ship orders has led to high utilization rates, prompting the need for additional production capacity. Japan's lack of shipbuilding capacity has been identified as a major challenge in the government's push to expand shipbuilding volume.Once a leader in global shipbuilding by volume, Japan lost its top position to South Korea, which has benefitted from government support since 2000. Recently, China's rapid rise has further diminished Japan's market share. The shipbuilding industry is considered crucial not only for Japan's industrial competitiveness as a maritime nation but also for economic security.In response, the Japanese government is developing a roadmap for revitalizing the shipbuilding industry and rebuilding its production base. A key objective is to resume the construction of Japanese liquefied natural gas (LNG) carriers, which has been halted since 2019.In June, the Japanese Growth Strategy Council included 'Japanese LNG carriers' in its list of public-private investment targets. Namura Shipbuilding, along with Japan's largest shipbuilders, Imabari Shipbuilding and Kawasaki Heavy Industries, plans to resume LNG carrier construction around 2035, aiming to produce 3 to 5 vessels annually.Kawasaki Heavy Industries' Sakai Factory in Kagawa Prefecture is expected to be the primary site for LNG carrier production. However, it is anticipated that the Sakai Factory alone may struggle to meet the target of 3 to 5 vessels per year. Therefore, the new dock at Namura Shipbuilding is likely to serve as an additional site for LNG carrier production.The new dock will also explore the construction of vessels for transporting next-generation energy sources, such as ammonia. This move reflects Japan's efforts to expand its production base in the next-generation ship sector in light of decarbonization and economic security initiatives.Namura Shipbuilding, headquartered in Osaka, primarily constructs large vessels such as bulk carriers and tankers at its Imari facility. The company also engages in ship repair operations.* This article has been translated by AI. 2026-08-20 11:20:00
  • US ambassador meets American executives in first Seoul business talks
    US ambassador meets American executives in first Seoul business talks SEOUL, August 20 (AJP) - The new U.S. ambassador to South Korea met senior executives from American companies operating in the country on Thursday, her first group engagement with the U.S. business community since taking up her post three weeks ago. The American Chamber of Commerce in Korea hosted Michelle Steel for a breakfast roundtable at its office in Yeouido, Seoul. The chamber, founded in 1953, says it represents more than 800 member companies and affiliates, making it the largest foreign business organization in South Korea. The American Chamber of Commerce in Korea (AMCHAM) kept the session small and did not release the names of the executives who attended. It said the group covered opportunities and challenges facing American companies here, and how continued contact between the embassy and the chamber could strengthen bilateral trade and investment. "We are delighted to welcome Ambassador Steel for her first official meeting with the U.S. business community in Korea," said AMCHAM chairman and chief executive James Kim. Kim said he had known Steel for years and had already met her at the U.S. Embassy during her first week in Seoul. Her early contact with business leaders, he said, "sends a clear and encouraging message about the importance of American companies to the U.S.-Korea economic partnership." AMCHAM said Steel used the meeting to stress the part American companies play in the economic relationship between the two countries, and told the executives she would work with the chamber to address the difficulties they face and improve the environment they operate in. The chamber did not quote her directly. The two sides also discussed cooperating on Freedom 250, a program marking the 250th anniversary of the founding of the United States. AMCHAM held its annual Doing Business in Korea seminar in April as a Freedom 250 edition. Steel arrived in Seoul on July 30, filling a post that had been vacant since Philip Goldberg left in January 2025. President Donald Trump nominated her in April and the Senate confirmed her on June 17. Born in Seoul in 1955, Steel moved to the United States in 1975 and served two terms in the U.S. House of Representatives representing California from 2021 to 2025. She is the second Korean American to serve as ambassador to South Korea, after Sung Kim, who held the post from 2011 to 2014. She submitted a copy of her credentials to Foreign Minister Cho Hyun on Aug. 4 and presented them to President Lee Jae Myung at the Blue House on Aug. 12. 2026-08-20 11:17:33
  • SK Telecom Halts New 3G Service Sign-Ups as Transition to LTE and 5G Begins
    SK Telecom Halts New 3G Service Sign-Ups as Transition to LTE and 5G Begins 3G mobile communication is entering its final phase after 23 years, as SK Telecom has officially stopped new sign-ups for the service. The actual end date will likely depend on the transition of Internet of Things (IoT) lines and approval from the Ministry of Science and ICT (MSIT).On August 20, SK Telecom announced it will cease new sign-ups for 3G services, aiming for a complete service shutdown by 2027. New sign-ups, number transfers, and device changes (including SIM card swaps) for 3G devices and LTE devices that do not support HD voice will be halted. KT has also indicated it is considering whether to stop new sign-ups.A SK Telecom representative stated, "The number of 3G subscribers and traffic has been steadily declining, and related devices and equipment are aging. As the communication environment shifts toward next-generation networks, we are moving forward with the service termination."Internationally, the shutdown of 3G services has already progressed significantly. Companies like AT&T, Verizon, and T-Mobile in the U.S., as well as KDDI and SoftBank in Japan, have ended their 3G services.The complete termination of 3G services is expected to take time. While the halt of new sign-ups can be implemented through a change in terms of service, the actual discontinuation of 3G services requires approval from the MSIT.The transition of IoT lines used in vehicles, metering, and elevators is considered a key variable. According to the MSIT's statistics from the end of June, there were 328,124 3G mobile phone lines, accounting for about 0.5% of total lines. However, when including business-to-business (B2B) and IoT lines, the proportion of 3G lines approaches 2%.An MSIT official noted, "There are more B2B lines than 3G mobile phone lines, and the various uses such as metering, vehicles, and elevators add complexity. Discussions among service providers are necessary to determine how to transition different types of communication modules."The MSIT has stated that it has not set a specific end date for 3G services. An official from the ministry remarked, "We cannot currently determine whether the official end date will be at the end of 2027 or in 2028. We will discuss a specific end date after assessing the status of each service provider and conducting consultations."Meanwhile, SK Telecom is implementing support programs to facilitate the transition of existing 3G users to LTE and 5G. Options include free device replacements for LTE and 5G, discounts of up to 12,000 won per month for 24 months, and purchase subsidies of up to 380,000 won along with the same monthly discount. Users can choose one of these options.For 3G subscribers aged 65 and older who switch to LTE or 5G, support will be provided to continue using the existing 'New Silver Plan' (9,900 won per month). Customers who cancel their service or switch to another provider will receive a cancellation support payment of 40,000 won, and any penalties incurred during the transition or cancellation process will be waived.* This article has been translated by AI. 2026-08-20 11:16:10
  • Korean Minister Proposes Electric Nation Strategy in Power Supply Plan
    Korean Minister Proposes 'Electric Nation' Strategy in Power Supply Plan Korean Minister of Climate, Energy and Environment Kim Sung-hwan announced plans to incorporate a strategy for transitioning to an 'Electric Nation' in the 12th Power Supply Basic Plan. This strategy aims to address the surging electricity demand by prioritizing electricity as a national strategic asset while utilizing nuclear power alongside renewable energy sources.During the Fourth Public Policy Forum on the 12th Power Supply Basic Plan held on the morning of August 20 at the National Assembly, Kim emphasized, "Electricity should not just be seen as an auxiliary means for industry but as a national strategic asset that ensures security."He noted that while semiconductor and AI data centers can be established relatively quickly, preparing the necessary power supply infrastructure takes significantly longer. "While setting up chips or AI data centers can be done in 2 to 3 years if one is determined, preparing for electricity takes much longer," he said.Kim stated that the process of establishing the 12th Power Supply Basic Plan must consider both the climate crisis and the increasing power demand driven by AI. He pointed out that the rapid rise in electricity demand has been observed since the emergence of ChatGPT, necessitating a continuation of decarbonization policies that reduce reliance on coal, gas power, internal combustion vehicles, and gas heating."We are facing both a climate crisis and an AI revolution simultaneously," Kim remarked, stressing the importance of addressing the explosive growth in electricity demand that was unimaginable in the past.To secure leadership in the AI era, he emphasized the need to leverage South Korea's strengths in both the semiconductor and power industries. He stated, "The U.S. has chips but lacks power, while China has power but lacks chips. How South Korea navigates this situation will determine whether it becomes a central nation of a new civilization or regresses to the past."Kim proposed a focus on renewable energy as the primary power source while also utilizing nuclear energy. The goal is to create a society powered by clean energy that operates AI data centers and AI robots, replacing coal and oil.He concluded, "We must operate AI data centers and AI robots using clean energy sources that mix renewable energy with some nuclear power, and I will ensure these elements are thoroughly included in the 12th Power Supply Basic Plan."Meanwhile, the Fourth Public Policy Forum on the 12th Power Supply Basic Plan is being held under the themes of 'Transition Strategy to an Electric Nation' and 'Future Energy Policy Directions.'* This article has been translated by AI. 2026-08-20 11:16:00
  • Ruling Party Pressures Seoul Mayor to Address Youth Housing Crisis
    Ruling Party Pressures Seoul Mayor to Address Youth Housing Crisis The Democratic Party of Korea urged the ruling People Power Party and Seoul Mayor Oh Se-hoon to actively cooperate with the government's ongoing "supply first" initiative to address youth housing concerns. This push comes as the party seeks to regain public support amid declining approval ratings among young voters.During a meeting on youth housing issues hosted by the Seoul chapter of the Democratic Party on August 20, Kim Young-bae, the chapter's chairman, stated, "The National Land Institute warned two years ago about the lack of housing starts in Seoul, predicting that a supply shortage would become a reality within two years."Kim criticized Mayor Oh, who has led the city for over five years, saying, "Oh has only blamed his predecessors. Isn’t that an insult to the youth? I hope he will present alternatives." The Democratic Party also announced the formation of a special committee on housing supply policies under the Seoul chapter, with lawmaker Oh Gi-hyung as chair and lawmaker Kim Nam-geun as secretary. Youth experts, including former Seoul mayoral candidate Kim Hyung-nam, will also participate.Criticism was directed at Mayor Oh regarding his opposition to the development of Yongsan Park. After the meeting, lawmaker Kim Nam-geun told reporters, "When the government proposes to supply youth housing, Mayor Oh should not just oppose it but should also present proactive measures."Kim Hyung-nam, representing the youth, pointed out, "Mayor Oh is completely against supplying housing in Yongsan Park. It is excessive to oppose even partial supply when the proposal does not suggest building housing throughout the entire park." He added, "We need to reconsider whether relying on loans to buy homes is a sustainable approach to housing and emphasize the need for models like shared equity, where individuals pay an initial 25% and purchase the rest later."Additionally, Han Byeong-do, the party's floor leader, attended a policy coordination meeting that day, stating, "We will prioritize housing supply for youth and newlyweds. We will launch a full-scale effort for national housing stability." He emphasized the need for calm discussions on utilizing the Yongsan Park site to provide quality housing that future generations can afford, noting that the Yongsan Park Special Law was amended during the Roh Moo-hyun administration in 2007, but nearly 20 years have passed since then. While respecting the law's original intent, he insisted that discussions on better utilization should not be obstructed.The special law specifies that the land cannot be used for purposes other than park use, but an amendment has passed through the legislative committee. Although there were mentions of the special law being addressed in the plenary session that day, both parties decided to observe the situation a bit longer. The Democratic Party continues to argue for the necessity of the amendment, while the People Power Party and Mayor Oh oppose the development of Yongsan Park, leading to significant disagreements. Both parties plan to monitor the upcoming meeting between Minister of Land, Infrastructure and Transport Kim Yoon-deok and Mayor Oh. Mayor Oh is also scheduled to meet with Chairman Kim on August 22 to discuss supply measures.Meanwhile, Democratic Party lawmakers have argued that the ongoing semiconductor boom could sustain additional tax revenue for several years, suggesting that around 20 trillion won should be allocated for youth housing supply.* This article has been translated by AI. 2026-08-20 11:12:00
  • Robotic Soccer and Luggage Handling Highlight Beijing Robot Conference
    Robotic Soccer and Luggage Handling Highlight Beijing Robot Conference The 2026 World Robot Conference (WRC2026) kicked off in Beijing, showcasing over 2,000 products from more than 300 companies at the Yizhuang International Exhibition Center on August 19. Participation increased by 36% compared to last year, with a 27% rise in exhibited products. More than 150 new products were unveiled at the event.The Beijing Humanoid Robot Innovation Center presented robotic solutions aimed at high-risk and repetitive tasks, demonstrating commercial services, equipment inspections, and logistics in simulated work environments. Notably, the center introduced the lightweight Tian Gong Omni humanoid robot, which weighs just 39 kg but boasts impressive load-bearing capabilities, captivating many attendees with its precise and smooth movements.The company Jiasuzhinhua showcased the humanoid robot 'Booster K1,' which demonstrated soccer skills by dribbling, passing, and shooting on the field.Ruiwei Information Technology displayed a luggage handling scene using embodied intelligence solutions. A representative from Ruiwei stated, 'Various types of robots and humans can collaborate to significantly reduce manual labor.'Yinhe Tongyong introduced the Galbot, a versatile humanoid robot that performed tasks such as moving and stacking goods in pharmacies, convenience stores, homes, and factories.Wei Guohong, a member of the China Robot CR Training and Standards Committee, noted, 'While previous conferences featured exhibition robots performing acrobatic tricks, this year, companies from the energy and manufacturing sectors presented robots that can be deployed in real work settings. Companies are competing based on practical metrics such as robots' operational capabilities and maintenance costs.'According to the latest data from China's Ministry of Industry and Information Technology, the revenue of large-scale robotics companies in China exceeded 90 billion yuan (approximately $13.5 billion) from January to May 2026, marking a 26.9% increase compared to the same period last year.* This article has been translated by AI. 2026-08-20 11:08:00
  • South Korea to Regulate Hanwoo Supply and Support Management
    South Korea to Regulate Hanwoo Supply and Support Management The South Korean government is set to institutionalize the regulation of Hanwoo supply, support for calf production stability, and financial assistance for farm management. A comprehensive plan for the development of the Hanwoo industry will be established every five years, with annual implementation plans made public.The Ministry of Agriculture, Food and Rural Affairs announced on August 20 that it will enact the enforcement decree and regulations for the 'Act on the Transition and Support of the Hanwoo Industry for Carbon Neutrality,' effective from August 21.The Hanwoo Industry Act aims to enhance the competitiveness of the Hanwoo industry while supporting farm management stability in response to carbon neutrality and changes in livestock farming environments. The enforcement decree and regulations outline the support criteria and procedures mandated by the law.The ministry will develop a comprehensive plan every five years based on surveys and statistics related to the Hanwoo industry. The annual implementation plans will be made available on the ministry's website.A Hanwoo Industry Development Council will be formed to incorporate feedback from producers and experts during the policy implementation process. The council will deliberate on supply regulation, payment of slaughter and shipment incentives, support for calf production stability, management improvement funds, education, and the establishment of export foundations.The ministry plans to establish the council immediately in line with the law's implementation. It will also set the criteria for the calf production stability support program, which had not been established previously, through the council to stabilize Hanwoo prices and production bases.Criteria for corporate participation in Hanwoo production have also been clarified. Small businesses can participate without restrictions, while mid-sized companies and larger must comply with livestock-related laws and establish low-carbon farming plans.Low-carbon farming requirements include supplying feed with methane reduction agents, maintaining a shipment ratio of over 30% for Hanwoo under 28 months, and installing mechanical mixing and forced aeration facilities for composting. Companies must secure land for growing forage crops suitable for their scale and develop forage production plans.Participating companies are required to analyze the impact on the local economy and existing Hanwoo farms and develop cooperation plans to implement the government's Hanwoo supply policy. They must also gather opinions from local agricultural cooperatives, agricultural corporations, and producer organizations.Lee Jae-sik, the livestock policy director at the Ministry of Agriculture, Food and Rural Affairs, stated, "We will continuously communicate with farmers and reflect their voices in policies to strengthen the competitiveness of the Hanwoo industry and stabilize farm management."* This article has been translated by AI. 2026-08-20 11:04:10
  • South Korea Launches New Housing Support Program to Convert Monthly Rent to Jeonse
    South Korea Launches New Housing Support Program to Convert Monthly Rent to Jeonse The South Korean government is launching a new housing support initiative that will convert monthly rental properties into jeonse, a traditional Korean rental system. Tenants will be able to live in jeonse at a lower cost than monthly rent, while landlords will receive monthly returns on their jeonse deposits through a public institution.The Ministry of Land, Infrastructure and Transport announced on August 20 that it will implement the 'Monthly Rent Assurance Trust Project' as a follow-up to the August 13 rapid housing supply measures.The Monthly Rent Assurance Trust aims to convert existing monthly rental properties into jeonse for tenants. After a tripartite contract is signed between the stabilization organization, landlords, and tenants, tenants will deposit their jeonse funds with the organization, which will then invest and manage the funds to provide landlords with returns equivalent to monthly rent.The Korea Housing and Urban Guarantee Corporation (HUG) will be responsible for managing the deposit, investment, and return of jeonse funds, as well as recruiting landlords and tenants.Tenants will benefit from living in jeonse, which is generally less burdensome than monthly rent. The stabilization organization will manage the jeonse funds, reducing the risk of jeonse fraud. The Ministry explained that while the current conversion rate for monthly rent is between 5% and 6%, jeonse loan interest rates are between 3% and 4%, which can alleviate tenants' housing cost burdens.Since the stabilization organization will handle the deposit and future returns of the jeonse funds, tenants will not need to purchase separate jeonse return guarantees or jeonse loan guarantees, further reducing their financial burden.Landlords will also benefit, receiving monthly returns on their jeonse funds. The stabilization organization plans to create a housing supply activation fund based on the jeonse funds, which will be used for housing construction projects, generating annual interest income of around 4% to be paid to landlords.Registered landlords participating in the program will be exempt from the obligation to purchase return guarantees for rental deposits, thus reducing their guarantee costs. Tax incentives for landlord income are also being considered.Landlords relocating from regulated areas like Seoul to provincial regions will also be eligible for housing pensions. This means they can receive housing pension payments in addition to the monthly income from the Monthly Rent Assurance Trust.The government plans to promote the Monthly Rent Assurance Trust without restrictions on housing types, targeting both general landlords and tenants through a separate public offering. Initially, the program will focus on homes valued at 200 million won or less, verifying whether the jeonse amounts are excessive compared to market prices and checking for any violations of building regulations.There are two ways for landlords to participate in the program: they can either apply first and have the stabilization organization assist in recruiting tenants, or they can negotiate the jeonse amount with tenants beforehand and apply together.Some rental housing purchased by the Korea Land and Housing Corporation (LH) will also be pilot-supplied through the stabilization organization. The Ministry plans to provide 500 units this year to reduce the housing burden for young households without homes.Details regarding the project procedures, agreements, and monthly income rates will be announced at the end of September. Landlords and tenants interested in participating can apply through the HUG website and its nationwide branches. Applications will be accepted starting in October, with tripartite agreements and deposit payments scheduled to occur sequentially from November. Move-ins are expected to begin by the end of the year.This initiative is seen as an effort to alleviate the simultaneous issues of jeonse avoidance and rising monthly rent in the wake of recent jeonse fraud incidents. However, securing trust in the return stability of jeonse funds and the operational income rates will be crucial for attracting actual participation.Kim I-tak, the First Deputy Minister of Land, Infrastructure and Transport, stated, “Through the Monthly Rent Stabilization Organization, tenants will be able to alleviate the risk of jeonse return, while landlords can ease the burden of rent arrears, allowing them to enter lease agreements with confidence.” He added, “As the Monthly Rent Assurance Trust project yields results and becomes more sophisticated, we will explore various contract methods to enhance the health of the rental market, benefiting tenants with the advantages of jeonse living and landlords with rental income.”* This article has been translated by AI. 2026-08-20 11:04:10