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  • Youth Deficit Grows While Ages 55-64 See Surplus, Widening Generational Economic Gap
    Youth Deficit Grows While Ages 55-64 See Surplus, Widening Generational Economic Gap The overall lifecycle deficit has decreased, but economic disparities among age groups persist. Individuals aged 55 to 64 have seen an increase in surplus due to rising labor income, while the lifecycle deficit for those aged 15 to 24 has grown compared to a decade ago. In older age groups, both consumption and labor income have increased.The National Data Agency released its "2024 National Transfer Accounts" report on September 17, detailing the relationship between consumption and labor income across different age groups.In 2024, the lifecycle deficit, calculated by subtracting labor income from consumption, totaled 220.119 trillion won, a decrease of 7.3 trillion won from the previous year. Consumption rose by 3.4% to 1,509.794 trillion won, while labor income increased by 4.6% to 1,289.675 trillion won, leading to a reduction in the deficit.By age group, those aged 0 to 14 experienced a deficit of 186.22 trillion won. The working-age group of 15 to 64 generated a surplus of 155.44 trillion won, while those aged 65 and older recorded a deficit of 188.943 trillion won.The per capita lifecycle deficit exhibited a three-stage structure of 'deficit → surplus → deficit' based on age. The largest deficit occurred at age 16, amounting to 46.04 million won. Labor income began to rise, leading to a surplus starting at age 28, peaking at 19.32 million won at age 45 before declining again to a deficit starting at age 61.The age at which individuals enter surplus has remained stable at around 27 to 28 since 2010. However, the age for reentering a deficit has increased, rising from 56 in 2010 to 61 in 2024, likely due to longer participation in the labor market.In fact, individuals aged 55 to 64 recorded a lifecycle deficit of 12.789 trillion won in 2014, but transitioned to a surplus of 19.962 trillion won by 2024. According to the National Data Agency, this age group was in deficit until 2019 but has been in surplus since 2020.Conversely, the deficit for those aged 15 to 24 increased from 113.92 trillion won in 2014 to 139.441 trillion won in 2024, an increase of 25.52 trillion won. The surplus for those aged 25 to 34 decreased from 32.922 trillion won to 24.37 trillion won, while the surplus for those aged 35 to 44 grew from 93.099 trillion won to 108.564 trillion won. The surplus for those aged 45 to 54 also expanded significantly from 72.161 trillion won to 141.589 trillion won.Differences in the growth rates of consumption and labor income were also evident by age group. Total consumption reached 1,509.794 trillion won, a 3.4% increase from the previous year. Public consumption rose by 4.5% to 447.51 trillion won, while private consumption increased by 2.9% to 1,062.285 trillion won.Consumption among those aged 65 and older reached 263.733 trillion won, an 8.1% increase from the previous year. The share of older adults in total consumption rose from 16.7% to 17.5%. Both public and private consumption among older adults grew at rates higher than the overall increase.Labor income for those aged 65 and older also increased, reaching 74.79 trillion won, a 15.7% rise that significantly outpaced the overall labor income growth rate of 4.6%. Labor income for the working-age group increased by 4.0% to 1,214.885 trillion won.A representative from the National Data Agency stated, "The youth demographic is significantly impacted by education-related consumption, while the elderly are influenced by health-related consumption," adding that "per capita labor income gradually increases after age 17, peaking at 45 years old at 46.51 million won before gradually declining." They further explained that the lifecycle deficit has decreased because the growth in consumption has been smaller than the increase in labor income. 2026-09-17 12:04:10
  • South Korea Boosts Nuclear Decommissioning Industry Competitiveness
    South Korea Boosts Nuclear Decommissioning Industry Competitiveness 정부가 고리 원전 1호기 해체를 계기로 국내 원전해체 산업의 경쟁력을 끌어올리고 해외시장 진출을 본격 지원한다. 전 세계적으로 영구정지 원전이 늘어나는 가운데 국내 기업이 원전 건설부터 해체까지 전 주기에 걸친 경쟁력을 갖출 수 있도록 기술·시장·인프라 지원 방안을 모색한다.기후에너지환경부는 오는 18일 서울 중구 웨스틴조선에서 '원전해체 글로벌 경쟁력 강화 협의회'와 '2026 원전해체 비즈니스 포럼'을 개최한다고 17일 밝혔다.기후부와 한국수력원자력이 주최하고 한국원자력산업협회가 주관하는 이번 행사에는 국내외 원전해체 전문가 300여명이 참석한다.비즈니스 포럼은 '고리 1호기에서 미래로, K-디커미셔닝(K-Decommissioning)의 글로벌 도약'을 주제로 열린다. 국내 원전해체 산업의 현황과 향후 계획을 점검하고 해외 전문기업의 원전해체 경험과 교훈을 공유한다.포럼은 △원전해체 산업 현황과 계획 △원전해체 산업 상생과 경쟁력 강화 △글로벌 원전해체 경험과 교훈 등 3개 세션으로 진행된다. 미국 에너지솔루션즈(EnergySolutions), 일본 간사이전력, 프랑스 사이클라이프(Cyclife) 등 해외 기업도 자국의 원전해체 경험을 소개한다.국제원자력기구(IAEA) 등에 따르면 지난달 31일 기준 전 세계 영구정지 원전은 220기, 설비용량으로는 110GW에 달한다. 이중 해체가 완료된 원전은 상업용 원전 14기와 연구용 원자로 9기 등 모두 23기에 그친다. 대형 상업용 원자로 해체 경험을 보유한 국가는 미국이 유일하다.정부는 원전해체 글로벌 경쟁력 강화 협의회도 열어 국내 산업의 경쟁력 확보 방안을 논의한다. 지방정부와 산·학·연 전문가들이 참여해 기술과 시장, 인프라 분야별 국내외 원전해체 사업 현황과 향후 계획을 점검하고 정부의 지원 방안을 모색할 예정이다.기후부 관계자는 "고리 1호기 해체를 비롯한 국내 원전해체 사업을 바탕으로 기업들의 관련 역량을 높이고 해외시장 진출을 지원할 계획"이라며 "원전 건설부터 운영, 해체까지 원전 산업 전 주기에 걸쳐 국내 기업의 경쟁력을 강화한다"고 밝혔다. * This article has been translated by AI. 2026-09-17 12:04:00
  • Government to Intensify Environmental Inspections at 3,400 Sites Ahead of Chuseok
    Government to Intensify Environmental Inspections at 3,400 Sites Ahead of Chuseok The government will conduct intensive inspections at over 3,400 sites with significant environmental pollution concerns ahead of the Chuseok holiday. During the holiday period, drones and mobile measurement vehicles will be deployed to monitor illegal pollution activities, and regional situation rooms will be established. The Ministry of Climate, Energy and Environment announced on September 17 that special monitoring, inspections, and promotional activities to prevent environmental pollution will take place from September 18 to October 8. This special inspection will involve the ministry, seven regional and local environmental agencies, and local governments. They will focus on major polluting facilities and areas vulnerable to pollution before, during, and after the holiday. Before the holiday, the government will send self-inspection cooperation letters to over 31,000 key facilities and environmental infrastructure sites. Additionally, on-site monitoring and inspections will be conducted at the 3,400 sites identified as vulnerable to environmental pollution. Key targets for inspection include facilities that directly discharge pollutants into public waters, those located near water sources, and sites that emit large amounts of air pollutants. Areas with frequent complaints or repeated violations of environmental laws, as well as industrial complexes and densely populated factory areas, will also be closely examined. During the holiday, advanced monitoring equipment, including drones and mobile measurement vehicles, will enhance on-site surveillance. Facilities suspected of illegal pollution activities will be subject to immediate follow-up inspections. Regional situation rooms and reporting channels for environmental violations will be operational. Patrols in vulnerable areas and along rivers will be intensified, and rapid responses to environmental incidents will be planned. After the holiday, from September 28 to October 8, technical support will be provided to businesses vulnerable to environmental pollution or those that have experienced issues, particularly small enterprises. Officials will visit these sites to ensure that pollution prevention facilities are functioning properly. Last year, during the Chuseok holiday, inspections were conducted at 2,328 sites, resulting in the identification of environmental law violations at 103 locations (4.4%). The main violations included failure to comply with permits and reporting for pollutant discharge facilities, exceeding discharge limits, neglecting to repair pollution prevention equipment, and failing to complete training for environmental technicians and hazardous materials managers. Jin Myung-ho, the ministry's auditor, stated, "We will do our utmost to prevent illegal environmental pollution activities that may occur during the holiday and respond swiftly to any incidents, ensuring that the public can enjoy a safe Chuseok holiday." * This article has been translated by AI. 2026-09-17 12:04:00
  • Three out of four companies to observe four-day Chuseok holiday amid negative economic sentiment
    Three out of four companies to observe four-day Chuseok holiday amid negative economic sentiment This year, most companies will observe a four-day holiday for Chuseok, but their sentiment regarding the holiday economy remains negative. The number of companies reporting a worsening economic situation compared to last year was five times greater than those reporting an improvement. Additionally, the proportion of companies planning to provide Chuseok bonuses has slightly decreased from last year.The Korea Employers Federation (KEF) conducted a survey of 601 companies with five or more employees across the country regarding the '2026 Chuseok Holiday Survey.' The results showed that 76.5% of companies will take a four-day holiday, while 14.2% will take five days or more, and 9.3% will take three days or fewer.This year, 61.0% of companies plan to provide Chuseok bonuses, down from 63.0% last year. Among larger companies with over 300 employees, 66.7% plan to give bonuses, compared to 60.3% of smaller companies with fewer than 300 employees. Both categories saw a decrease from the previous year, with larger companies dropping from 68.1% and smaller companies from 62.3%.The method of bonus distribution shows that 65.3% of companies will provide bonuses as regular bonuses only, while 30.8% will offer separate bonuses, and 3.9% will provide both types simultaneously. Among companies providing bonuses, 95.7% of those with over 300 employees will do so as regular bonuses, compared to 65.3% of those with fewer than 300 employees. Conversely, 37.9% of smaller companies will provide separate bonuses, compared to 13.0% of larger companies.Regarding the Chuseok economy, 45.2% of respondents indicated that it has worsened compared to last year, which is similar to the 45.7% who said it remains the same. Only 9.1% reported an improvement. When broken down by company size, 47.2% of companies with fewer than 300 employees reported a worsening situation, compared to 29.4% of those with 300 or more employees.* This article has been translated by AI. 2026-09-17 12:04:00
  • Cow Manure to Be Used as Solid Fuel: Government Begins Field Verification
    Cow Manure to Be Used as Solid Fuel: Government Begins Field Verification The government is set to begin field verification for utilizing cow manure as solid fuel. This initiative aims to investigate the entire process from the amount of manure generated on livestock farms to the production and quality of the fuel, thereby reducing the burden of livestock manure disposal while establishing a foundation for renewable energy use.The National Institute of Environmental Research, under the Ministry of Climate, Energy and Environment, announced on September 17 that it will hold a kickoff meeting for the 'Field Survey and Policy Support Research for Promoting Cow Dung Solid Fuel' on September 18 at the JK Business Center in Yongsan, Seoul.Cow dung is a biomass resource generated locally that can be processed into solid fuel for energy use. The government explains that collecting locally produced cow dung for fuel not only alleviates the burden of livestock manure disposal but also contributes to greenhouse gas reduction.On July 30, the government began revising related systems, including the permitting and quality standards for cow dung solid fuel facilities, in accordance with the 'Act on the Management and Use of Livestock Manure.' However, to implement these systems effectively, verification of the actual amount of cow dung generated, fuel quality, and economic feasibility is necessary.To this end, the National Institute of Environmental Research will gather data on the entire process from cow dung generation to solid fuel production and final quality through this research. The study will be conducted in three phases: a field-based survey of cow dung generation, quality and material-energy balance analysis at each processing stage, and tailored policy recommendations.Initially, the research will compare and analyze the actual amount of cow dung emitted from livestock facilities with the quantity and characteristics of the dung currently being processed at solid fuel production facilities. Approximately ten representative farms near the production facilities and a core sample of 300 head of cattle farms will be designated for periodic sampling and analysis of solid fuel quality standards, total solids, salinity, and phosphorus.At the production facilities, the material and energy balance, quality, and moisture content at each processing stage will be analyzed from raw cow dung to solid fuel products. This will provide scientific evidence regarding salinity and phosphorus concentration, as well as estimate the potential for solid fuel production considering actual cow dung emissions, collection rates, quality compliance rates, and processing yields.Efforts will also be made to incorporate field opinions into policy. Two meetings will be held at the end of this year and early next year, involving stakeholders such as cow dung solid fuel producers, consumers, and local governments, to prepare policy recommendations for system improvements.Park Jeong-min, head of the Environmental Resource Research Division at the National Institute of Environmental Research, stated, "This research will provide substantial scientific data on actual cow dung generation, fuel quality, and facility operation. We plan to continuously support the development of policies that consider both environmental and energy aspects in the promotion of cow dung solid fuel, tailored to local conditions."* This article has been translated by AI. 2026-09-17 12:04:00
  • Interdimension Launches Apartment Auction Analysis Service Aljja Auction
    Interdimension Launches Apartment Auction Analysis Service 'Aljja Auction' Interdimension Co., Ltd. is launching an auction information service that analyzes apartment auction data from 60 courts across the country, providing attractiveness rankings and explanatory reports.On September 17, the proptech startup announced the official release of 'Aljja Auction,' aimed at discouraging short-term speculative investments and enabling actual buyers to analyze their rights.Aljja Auction is a proptech platform that collects and analyzes 25 types of public and private data daily, including Supreme Court auction information (property details, case specifics, status investigations, and appraisal reports), the Ministry of Land's actual transaction prices, building registries, and economic statistics from the Bank of Korea. As of August, the platform has accumulated data on 10,000 properties and analyzed over 39,000 court and government documents.The core of the service is the 'six-item 100-point algorithm (v18),' designed based on 306 professional materials, including 62 academic papers. Properties listed within seven days of the auction date are comprehensively evaluated according to internal criteria and classified into five grades (S to D). Properties that have been unsold more than five times can lose up to 25 points.The evaluation criteria include: location (proximity to transportation, school districts, amenities, and medical access), safety of rights analysis (burden of acquisition, risks such as rights of retention and statutory superficies), price attractiveness compared to market value (expected returns based on actual transaction prices and actual costs), future value (redevelopment projects, transportation improvements, rental rates, and stability of complex size), minimum price compared to appraised value (drop from the appraised value to the minimum bid), and brand (price premium and liquidity based on the construction company's brand).The service also offers document explanation features for novice buyers. It breaks down court documents such as property specifications, appraisal reports, and land registry documents into a nine-step card format, from the start of the case to recommended bid prices. Users can check the top-ranked properties and detailed analyses for free across 60 courts nationwide. Full rankings and detailed reports are available through a premium subscription for 33,000 won per month (including VAT), while document issuance and analysis are offered at 1,500 won each (including VAT).According to the Supreme Court, the number of auction applications at courts nationwide reached 121,261 last year, the highest since 2009. The total amount of apartment sales reached 17.4176 trillion won, a record high. In July, there were 11,300 cases, and in August, 9,684 cases, maintaining a monthly average of around 10,000 cases this year.CEO Kim Won-seok stated, 'Aljja Auction is not a platform that indiscriminately encourages purchases but an analytical tool that helps actual buyers assess risks with objective data by lowering the barriers of complex court documents. We will update the status of 60 courts nationwide daily to resolve information asymmetry and serve as a starting point for reasonable home ownership.'* This article has been translated by AI. 2026-09-17 11:52:00
  • Sangmidang Holdings Engages in Charity Activities at 29 Welfare Institutions Nationwide for Chuseok
    Sangmidang Holdings Engages in Charity Activities at 29 Welfare Institutions Nationwide for Chuseok Sangmidang Holdings is conducting charity and volunteer activities across the country in celebration of the Chuseok holiday.On September 17, Sangmidang Holdings announced that from September 14 to 23, it will carry out product donations and volunteer activities at 29 welfare institutions nationwide.On September 16, the Happy Volunteer Group, composed of employees from its subsidiaries, visited the Yangjae Senior Center in Seocho, Seoul, to host a 'Sweet Chuseok' event with local seniors. Employees engaged with 200 seniors in activities such as making rice cakes and participating in traditional games, while also serving holiday meals. They exchanged Chuseok greetings along with handwritten letters and donated products like Sanglim full moon bread and cream bread.Key subsidiaries are also continuing tailored charitable efforts across various regions. Sanglim is providing over 6,000 items, including Greek Schwein ham sets, olive oil, and bread, to 14 welfare institutions in Seoul, Gyeonggi, Chungcheong, and Gyeongsang provinces. Paris Croissant is delivering pastry sets, roll cakes, and rice to four welfare institutions in Seongnam and Gangwon regions.BR Korea visited homes of veterans in Eumseong, Chungbuk, to deliver Sanglim Jeju Black Pork ham sets, while SPC GFS collaborated with the Yangjae Comprehensive Social Welfare Center to create holiday food packages containing Sanglim Haimeon udon and full moon bread. SPL also visited a childcare facility in Pyeongtaek to donate castella products. Sekta Nine and SPC PACK plan to deliver bakery products to welfare institutions in Yeoksam-dong, Seoul, and Cheongju, and will sequentially conduct employee participation volunteer activities focused on caring for children and individuals with disabilities.A representative from Sangmidang Holdings stated, "In celebration of Chuseok, our employees have come together to convey warmth to our neighbors. We will continue to engage in various social contribution activities that allow employees to directly participate and bring comfort to the community."* This article has been translated by AI. 2026-09-17 11:48:00
  • Law Firm Hwa Woo Welcomes Energy Expert Baek Jong-kwan as Senior Foreign Attorney
    Law Firm Hwa Woo Welcomes Energy Expert Baek Jong-kwan as Senior Foreign Attorney Law firm Hwa Woo announced on September 17 that it has recruited Baek Jong-kwan as a senior foreign attorney specializing in nuclear power, small modular reactors (SMR), and engineering, procurement, and construction (EPC) contracts for energy plant exports.With over 35 years of experience in energy, EPC, foreign investment, mergers and acquisitions (M&A), and international litigation and arbitration, Baek is recognized as an expert in nuclear energy and international transactions. He has accumulated extensive experience in negotiating key contracts and providing legal advice for domestic companies involved in overseas nuclear power export projects.Baek earned a degree in business administration from Boston College and a Juris Doctor from Georgetown University Law Center. He became a licensed attorney in New York and has been active in South Korea since 1990, offering comprehensive legal advice on nuclear power export projects, domestic business development for foreign SMR companies, cross-border M&A, joint ventures, and international arbitration and litigation.Notably, he represented Korea Electric Power Corporation (KEPCO) in the UAE Barakah nuclear power plant project, overseeing the prime contract negotiations with the Emirates Nuclear Energy Corporation (ENEC) and managing the entire bidding and contracting process.Baek also participated in subsequent contract negotiations related to the Barakah project, including the Operating Support Services Agreement (OSSA) with Korea Hydro & Nuclear Power and the Long-Term Maintenance Agreement (LTMA) with KEPCO KPS, gaining valuable advisory experience throughout the project.He has advised KEPCO and Korea Hydro & Nuclear Power on numerous overseas nuclear projects, including the Olkiluoto 4 project in Finland, the El Dabaa project in Egypt, and various projects in Saudi Arabia.Recently, he led the EPC prime contract negotiations for the Czech Dukovany nuclear power project, representing Korea Hydro & Nuclear Power in discussions with the Czech Power Company’s subsidiary, EDU II, and has provided legal advice on various issues arising during the project implementation phase.Baek has also demonstrated significant expertise in international disputes. He represented KEPCO and Korea Hydro & Nuclear Power in a dispute involving Westinghouse related to intellectual property and U.S. export control issues concerning overseas nuclear contracts, responding to arbitration at the Korean Commercial Arbitration Board (KCAB) and litigation in U.S. federal courts. He has participated in developing legal strategies related to U.S. export control laws in collaboration with foreign law firms.Baek has built early expertise in the next-generation nuclear sector, advising global SMR developers on domestic business development, and possesses extensive practical experience across the nuclear industry, from large-scale nuclear plants to next-generation reactors.In addition to his work in the nuclear and energy sectors, Baek has rich experience in cross-border transactions. He has advised on overseas M&A for domestic companies, including LG Chem's acquisition of U.S.-based NanoH2O and LG Group's acquisition of U.S.-based Rolls-Royce Fuel Cells, as well as various international transactions involving foreign investments and joint ventures in South Korea. He has also represented domestic and international companies, including Samsung C&T, LS Cable, and Sikorsky, in ICC arbitration and other international disputes.Recognized for his expertise, Baek was named a Recommended Lawyer in the energy sector by the global legal evaluation organization Lexology Index for 2026.Through this recruitment, Hwa Woo plans to enhance its advisory capabilities for overseas projects in the nuclear, SMR, and energy plant sectors. The firm aims to provide comprehensive legal services across all stages of overseas nuclear and SMR project bidding, EPC contract negotiations, project implementation, and international disputes, while also expanding synergies in cross-border M&A, joint ventures, and foreign investment.Lee Myung-soo, managing partner of Hwa Woo, stated, "Baek is an expert who has directly handled key contract negotiations and international disputes in South Korea's major overseas nuclear projects. We expect that this recruitment will further expand Hwa Woo's existing capabilities in energy, infrastructure, and international transactions and disputes into the nuclear and SMR sectors, allowing us to provide more comprehensive legal services for domestic companies in the global energy market."* This article has been translated by AI. 2026-09-17 11:40:20
  • Stray Kids take STRAYCITY across Latin America
    Stray Kids take 'STRAYCITY' across Latin America SEOUL, September 17 (AJP) - K-pop boy band Stray Kids are taking a new music festival built around the group across Latin America, with "STRAYCITY" set to move to Mexico City later this month, JYP Entertainment said Thursday. The festival, jointly planned by JYP and Live Nation, opened in Bogota on Sept. 9 before staging two shows in Buenos Aires on Sept. 14 and 15. Stray Kids headlined the events with a set spanning tracks including "TOPLINE," "MANIAC," "S-Class," "God's Menu," "MIROH" and newer songs "This & That" and "After You." The performances featured a live band as well as large-scale outdoor production including fireworks and video screens. "STRAYCITY" will continue in Mexico City on Sept. 25 and 26, with additional locations expected to be announced. The festival follows a run of major international festival appearances by Stray Kids, including Lollapalooza Paris, British Summer Time Hyde Park, Lollapalooza Chicago and The Governors Ball. Earlier in September, the group also headlined Rock in Rio in Brazil, drawing about 100,000 people, according to JYP. AJP Takeaways - Stray Kids are headlining "STRAYCITY," a new festival built around the group. - The festival opened in Bogota and held two shows in Buenos Aires. - JYP Entertainment and Live Nation jointly planned the project. 2026-09-17 11:32:21
  • RIIZE lands second 100 million-stream Spotify hit
    RIIZE lands second 100 million-stream Spotify hit SEOUL, September 17 (AJP) - "Love 119" by K-pop boy group RIIZE has surpassed 100 million streams on Spotify, becoming the group's second song to reach the milestone after "Get A Guitar," SM Entertainment said Thursday. The 2024 single had logged 100,026,078 streams as of Thursday, according to Spotify data cited by the agency. "Love 119" gave RIIZE its first music show win and peaked at No. 3 on Melon's Top 100 chart. The song previously surpassed 100 million streams on Melon in 2025 and has also crossed the mark on YouTube Music. RIIZE is scheduled to release a new single on Oct. 26. AJP Takeaways - "Love 119" became RIIZE's second song to surpass 100 million Spotify streams. - "Get A Guitar" was the group's first track to reach the milestone. - "Love 119" has also surpassed 100 million streams on Melon and YouTube Music. 2026-09-17 11:32:05