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Transit-Oriented Developments Gain Popularity in Busan's Housing Market Transit-oriented developments that combine accessibility and lifestyle amenities are attracting consistent interest in the housing market. Properties near subway stations often feature commercial, business, and convenience facilities, appealing to homebuyers who prioritize commuting ease.Recent sales data highlights the strong performance of transit-oriented developments. According to the Korea Real Estate Agency, the 'Anyang Station Central I-Park Sujin,' launched in February in Anyang's Manan District, received 2,207 applications for 185 units, resulting in an average competition ratio of 11.93 to 1. This development is located near Anyang Station on the Seoul Metropolitan Subway Line 1.In April, 'Beomeo Station Park Dream Diar' in Daegu's Suseong District also saw significant interest, with 2,131 applicants vying for 21 units, yielding a first-choice average competition ratio of 101.5 to 1. The proximity to Beomeo Station on Daegu Metro Line 2 and the area's educational and lifestyle infrastructure contributed to its popularity.A real estate industry insider noted, "In a market driven by actual demand, reduced commuting times and access to infrastructure are key criteria for selecting properties. Particularly, developments located in double transit zones, with two or more lines or stations nearby, tend to attract steady demand due to their relative scarcity."Among these developments, Doosan Construction is generating interest with its upcoming 'Doosan We’ve the Genesis Daeyeon' project in Busan's Nam-gu district.The project will consist of two buildings with a total of 258 units, rising from five underground floors to a maximum of 42 stories, located at 1756-9 Daeyeon-dong. Of these, 176 units will be available for general sale, with sizes ranging from 59 to 84 square meters.The breakdown of units available for sale includes: 34 units of 59㎡A, 37 units of 74㎡A, 38 units of 74㎡B, 16 units of 84㎡A, and 51 units of 84㎡B.The development is within walking distance of Moggol Station and Daeyeon Station on Busan Metro Line 2. Major roads such as Suyeong-ro and UN Peace Road provide access to key areas in Busan, while local amenities include Nam-gu Office, Moggol Market, and the commercial district around Kyungsung University. Nearby parks include Uryongsan Park and UN Sculpture Park.Educational facilities in the vicinity include Daeyeon Elementary School, Daeyeon Middle School, Daeyeon High School, and Yemun Girls' High School. The Namcheon-dong academy district, Nam-gu Library, Pukyong National University, and Kyungsung University are also nearby.Currently, large-scale redevelopment projects are actively underway in the Daeyeon-dong and Uam-dong areas, which are expected to transform into a new residential town with approximately 12,000 units upon completion. 'Doosan We’ve the Genesis Daeyeon' is anticipated to play a central role in enhancing the area's value.The sales gallery for 'Doosan We’ve the Genesis Daeyeon' is located in Munhyeon-dong, Nam-gu, Busan.* This article has been translated by AI. 2026-07-23 13:28:00 -
Samsung says foldables have arrived — now AI is the real race SEOUL, July 23 (AJP) - Samsung Electronics said foldable smartphones have entered the mainstream, shifting the competitive battleground from hardware form factors to artificial intelligence as it expands its Galaxy Z8 lineup and pushes agentic AI across its device ecosystem. Speaking to reporters after Galaxy Unpacked in London, TM Roh, Samsung Electronics' chief executive and head of the Mobile eXperience (MX) division, said the newly unveiled Galaxy Z8 series marked a new stage for the foldable market, where consumers are increasingly choosing devices based on different usage needs rather than form factor alone. Samsung introduced three foldable models this year — the Galaxy Z Fold8 Ultra, Galaxy Z Fold8 and Galaxy Z Flip8 — targeting users seeking productivity, immersive entertainment and portability, respectively. The company also highlighted its new Flex Titanium technology, which combines reduced weight with improved durability in its latest foldables. Roh said foldable smartphones had reached a level of maturity both technologically and commercially, adding that growing competition reflected broader market acceptance rather than a threat to Samsung's leadership. "More companies entering the market means foldables have become mainstream," Roh said. "The technology and customer understanding we have built over the past seven years remain difficult to replicate." Looking beyond hardware, Roh said artificial intelligence would become the next key differentiator for smartphones. He said Samsung aims to expand Galaxy AI to 800 million users by the end of this year, while evolving AI from a question-and-answer tool into an "agentic AI" capable of carrying out tasks on behalf of users. Roh also emphasized Samsung's broad device ecosystem, saying smartphones, watches, televisions and home appliances would allow the company to deliver more personalized AI experiences than competitors focused on a single product category. He added that protecting users' personal information would remain a priority, saying sensitive personal data would stay on devices whenever possible and users would be able to understand and control how AI processes their information. Samsung also identified digital health as one of the areas where AI could create the greatest value. The company said its latest Galaxy Watch and Samsung Health platform expand health monitoring beyond sleep, exercise and nutrition to include broader biometric indicators aimed at helping users identify potential health risks earlier. 2026-07-23 13:27:33 -
Seoul Mayor Oh Se-hoon Inspects 'Seoul Kids' Nutritious Meals' Program Seoul Mayor Oh Se-hoon visited the site of the 'Seoul Kids' Nutritious Meals' program, which supports child meals and care during the summer break, stating, "If children are happy, the future of Seoul will also be happy," and pledged to make Seoul the best city for raising children. On July 23, Mayor Oh shared on his Facebook page about his visit to a local children's center to observe the operation of the 'Seoul Kids' Nutritious Meals' program. He noted, "While summer break is a joyful time for children, it also marks the beginning of new worries for working parents." He acknowledged the concerns of parents, saying, "I understand their worries about how to provide lunch today and whether their children might resort to takeout or convenience store food." Since July 20, the city of Seoul has been operating the 'Seoul Kids' Nutritious Meals' program at 226 local children's centers and neighborhood care centers, providing healthy lunches and care services for children aged 6 to 12. Mayor Oh emphasized, "Seoul is the first city in the nation to launch the 'Seoul Kids' Nutritious Meals' program," highlighting its role in providing healthy lunches and care during the school break. During his visit, Mayor Oh observed the children during their meals and met with staff members who are providing care during the break to listen to their challenges and the current status of operations. He expressed his sincere gratitude to all those working diligently, stating, "I truly appreciate everyone who is quietly working hard." Mayor Oh also explained that the 'Seoul Kids' Nutritious Meals' program is not just about providing a single meal, but also includes balanced meals, seasonal fruits, education on healthy eating habits, hygiene training, playtime, reading, and various experiential programs to enrich the children's day. He emphasized the social responsibility of child care, stating, "Raising children should not be the sole responsibility of one family. When society embraces and shares this responsibility, both children and parents can be happier." He added, "Seoul is creating a comprehensive care system that addresses the challenges parents face from birth through childcare and school age, ensuring that parents feel, 'I made the right choice raising my child in Seoul.' We will pay close attention to even the small inconveniences in daily life to achieve this." Mayor Oh concluded, "I will continue to seek answers in the field to create a child-centered Seoul, the best city for raising children."* This article has been translated by AI. 2026-07-23 13:24:00
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LIG D&A Partners with Babcock for Supply Chain Integration and Missile Development LIG Defense & Aerospace (LIG D&A) announced on July 23 that it has signed a Strategic Cooperation Agreement (SCA) with the UK-based global defense company Babcock during the Farnborough International Airshow 2026, the world's largest aerospace and defense exhibition, held on July 21.This agreement is expected to serve as a significant milestone in enhancing international defense cooperation between the two companies. It aims to combine LIG D&A's advanced technology and manufacturing capabilities with Babcock's engineering support and core operational capabilities to jointly develop and provide high-quality solutions to customers in the global market.The two companies will pursue initiatives including the integration of LIG D&A and Babcock's global supply chains, the development of the AH-140 frigate equipped with LIG equipment, the development of launch vehicles and precision-guided munitions (PGM), maintenance, repair, and overhaul (MRO) services, and collaboration in the fields of robotics and autonomous unmanned systems.The AH-140 is a global export-class naval platform developed by Babcock based on the UK Royal Navy's Type 31 frigate.Building on a memorandum of understanding signed in November 2024, the companies emphasized that this agreement reflects their joint commitment to innovation and operational excellence, combining their top capabilities to meet the evolving demands of global defense and security customers.Lee Hyun-soo, head of LIG D&A's overseas business division, stated, "This strategic cooperation agreement will be a crucial turning point in securing new competitiveness in the global market, and we will continue to expand our collaboration to provide differentiated integrated maritime defense solutions to customers worldwide."Nick Hine, Chief Growth Officer of Babcock International Group, expressed optimism, saying, "The two companies will present a competitive partnership in key international markets by combining complementary capabilities, deep engineering expertise, and a global network, creating significant value in the process."* This article has been translated by AI. 2026-07-23 13:24:00
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FortyTwoDot to Hire 70 Employees Across Seven Fields Including Autonomous Driving and AI FortyTwoDot announced on July 23 that it will recruit up to 70 experienced employees across seven sectors to strengthen its competitiveness in mobility artificial intelligence (AI).The hiring will cover not only software development roles in autonomous driving, AI, vehicle operating systems, and app markets but also non-development positions in service planning and business development.There are over 30 positions available, with key development roles including autonomous driving software engineers, deep learning engineers, and front-end engineers.The recruitment process features a 'fast hiring process' to reduce applicant burden. Candidates will be informed of their interview status within a maximum of seven business days after submitting their applications, and final results will be announced within 28 days, including first and second interviews. Successful candidates may start as early as early October.FortyTwoDot plans to hire over 200 employees by the end of this year, including this recruitment effort. The company aims to continuously secure top talent in key areas of mobility AI through its 'focused hiring' system.As a global software center of Hyundai Motor Group, FortyTwoDot is responsible for research and development in the mobility AI sector. It has recently demonstrated its technological capabilities by integrating the vehicle voice AI agent 'Gleo AI' and the open app ecosystem 'Pleos Connect' into new vehicles from Hyundai and Kia.FortyTwoDot provides a differentiated work environment to help its employees maximize their potential. It operates flexible working hours, offers an electric vehicle purchase support program, premium health check-ups, in-house fitness facilities, and various welfare benefits.A FortyTwoDot representative stated, 'We are continuously bringing in talented individuals to enhance Hyundai Motor Group's mobility AI competitiveness' and expressed hope for many applications from candidates who can contribute to future mobility innovation based on rich experience and a spirit of challenge.This focused recruitment will continue until August 5 through applications submitted on the FortyTwoDot recruitment website.* This article has been translated by AI. 2026-07-23 13:16:00
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Elon Musk to Create AI-Generated Film Adaptation of 'Odyssey' Elon Musk, CEO of SpaceX, has announced plans to create a feature film adaptation of Homer's epic 'Odyssey' using artificial intelligence (AI). This announcement follows his public criticism of the casting choices in Christopher Nolan's film of the same name.On July 22, Musk stated on X (formerly Twitter), "Before the year ends, Grok Imagine will produce a historically accurate and artistically faithful feature film 'Odyssey.'" He also reposted a roughly three-minute video created with the AI video generation tool Grok Imagine, depicting Odysseus's journey home after the Trojan War, filled with various trials.Musk has been vocal in his criticism of Nolan's casting decisions, particularly taking issue with the casting of Black actress Lupita Nyong'o as Helen, claiming that Nolan "insulted the Greeks." He has also shared posts criticizing the inclusion of transgender actor Elliot Page.Regarding Page's casting, Musk suggested that "Nolan is more concerned with awards than the work itself." However, Musk's claim of a 'historically accurate Odyssey' has drawn criticism, as the 'Odyssey' features mythological elements such as gods and monsters, raising questions about the appropriateness of using historical accuracy as a standard for the work.Scott Derrickson, director of 'Doctor Strange,' strongly criticized Musk's comments, asserting that he does not understand film and art properly.* This article has been translated by AI. 2026-07-23 13:16:00
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President Yoon Proposes Expansion of Quality Public Housing Near Transit Hubs President Yoon Suk Yeol announced plans to shift the focus of public rental housing policy from small units for low-income families to high-quality public rentals that can accommodate the middle class for long-term living. However, he maintained a cautious stance regarding the easing of regulations on redevelopment and reconstruction, citing concerns about potential increases in housing prices. During a national forum on real estate policy held at KBS in Yeouido, Seoul, President Yoon emphasized the importance of home ownership but acknowledged that not everyone can achieve it easily. He stated, "We need a housing ladder, and it is also the government's important role to provide high-quality public rental housing that the middle class can live in for the long term." The president strongly advocated for a paradigm shift and quality improvement in public rental housing. He noted, "In the past, public rental housing was often imagined as very small units of 8 or 12 pyeong occupied by disadvantaged individuals. Now, we need to change that approach. There is almost no usable public rental housing in South Korea." He revealed that the government is internally reviewing plans to supply high-quality public rental housing of about 25 to 30 pyeong near transit hubs, allowing the middle class to reside there long-term. He added, "We need to rethink how to allocate rental and sale properties based on transit hubs, and we are committed to supplying quality public rentals in these areas." In contrast, regarding the highly demanded easing of regulations on redevelopment and reconstruction, President Yoon expressed caution due to the potential for stimulating housing prices. He remarked, "There are differing opinions on easing regulations to revitalize redevelopment and reconstruction. We must carefully examine whether increasing the floor area ratio and other regulatory relaxations will stabilize the housing market or contribute to soaring prices." 2026-07-23 13:00:00
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Record Number of Unemployed Youth After Graduation Amid Economic Crisis As the preference for experienced workers and the rise of irregular hiring make it increasingly difficult for young people to find jobs, more than half of recent graduates are remaining unemployed for over a year. The proportion of long-term unemployed youth has also reached a record high.According to the 'May 2026 Economic Activity Population Survey for Youth' released by the National Data Agency on July 23, the population aged 15 to 29 decreased by 152,000 from the same month last year, totaling 7.822 million.The youth participation rate in economic activities fell to 47.2%, a decrease of 2.3 percentage points from the previous year. During the same period, the number of employed youth dropped by 255,000 to 3.427 million, resulting in an employment rate of 43.8%, down 2.4 percentage points.As of May this year, the number of graduates aged 15 to 29 was 4.003 million, a decrease of 171,000 from the previous year. Among them, 2.76 million were employed, down 202,000, while the number of unemployed increased by 31,000 to 1.244 million.The number of young people who have not found jobs after graduation is steadily rising. The proportion of youth unemployed for over a year has increased by 2.0 percentage points from the same period last year to 48.6%.Kim Rak-hyun, head of the Employment Statistics Division at the Data Agency, noted, "This is the highest rate since the 51.7% recorded during the global financial crisis in 2009," adding that the increase in the proportion of four-year college graduates has lengthened the time it takes to graduate, and the rise in the number of students taking leaves of absence for employment or qualification exams has contributed to this trend.The percentage of youth who have been unemployed for three years or more has also risen. As of May, the unemployment rate among young people stood at 19.4%, the highest since the relevant statistics began in 2007.The average time taken for college graduates to complete their studies has increased by 1.3 months from the previous year, now totaling 4 years and 5.7 months. The proportion of graduates with work experience after graduation has dropped to 84.8%, the lowest since 2004.Kim added, "In May, the youth participation rate and employment rate declined, while the unemployment rate increased. The time taken for young people to graduate from college has lengthened, and the proportion of graduates with work experience has decreased."As the job market remains challenging, young people are increasingly turning their attention to civil service exams. Among the economically inactive population, 600,000 were preparing for employment exams in the past week, with 22.1% of them focusing on general civil service positions. This marks a 3.9 percentage point increase from the previous year, indicating a shift in trend after five years.Kim explained, "The proportion of those preparing for general civil service positions has rebounded after five years, likely due to improvements in the treatment of lower-level civil servants, which has led to an increase in applicants and exam participation rates." 2026-07-23 12:56:00
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Real Estate Forum Calls for Increased Housing Supply and Support for Private Rentals On July 23, a real estate forum chaired by President Lee Jae-myung was held at the KBS Annex in Seoul, where various proposals were made regarding the critical issue of expanding housing supply. Many participants pointed out that the current regulations on relocation loans in redevelopment projects are hindering supply, indicating a need for policy adjustments. Yang Ji-young, a specialist at Shinhan Premier Pathfinder, noted that the time required for the management and disposal approval of reconstruction apartments has increased from 5-7 years in the past to 8-10 years recently. Yang emphasized, "In the Gangnam area of Seoul, major construction companies can obtain both basic relocation loans and additional loans, but in other regions, projects must proceed with only the basic relocation loan, making it difficult to move forward." There were also calls for a more refined government policy on private rental supply. It was suggested that incentives be provided to private construction rental housing providers to encourage the supply of long-term rental housing in the market. Chae Sang-wook, CEO of Connected Ground, stated, "The government's measures include public sales, public rentals, and private sales, but there is no information on how many private rental units will be built in which regions over the next five years under the Lee Jae-myung administration." He added that a system to collectively nurture private long-term rental suppliers and introduce financing for them is necessary to prevent various regulations, such as property taxes, from affecting the private rental market. To address the simultaneous rise in sales and rental prices, it was suggested to increase the supply of non-apartment housing, such as villas and officetels, for immediate effect, while accelerating large-scale supply measures, including the third new towns. Ko Jong-wan, head of the Korea Asset Management Institute, remarked, "Selective promotion of reconstruction and redevelopment is necessary, but increasing the supply of non-apartment housing like villas and officetels will be effective for short-term supply." He also urged the government to speed up the housing supply plan for 270,000 units in the third new towns and to establish a regular policy consultation body with the Ministry of Land and local governments to resolve delays in sites like Taereung CC and Yongsan Maintenance Depot. Regarding the surge in construction costs, he pointed out that rising material and labor costs are major factors. He suggested implementing a 'material stockpiling system' to lower costs, similar to land and crude oil, and temporarily lifting the quota system for foreign skilled workers in the construction industry. President Lee Jae-myung also commented, "The delays in the commencement of previously announced areas, such as the third new towns, are a serious issue. It is said to take over sixty months. The administrative speed is too slow." He added, "We are considering ways to reduce this period by more than half, whether by changing regulations or by concurrently processing procedures that are usually done sequentially." 2026-07-23 12:48:00
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President Lee Calls for Change in Housing Terminology at Real Estate Forum President Lee Jae-myung stated on July 23, "If someone is temporarily non-resident due to circumstances but claims it is for residential use, shouldn't it be treated the same as actual residence?"During the 'National Forum on Real Estate Policy' held at the KBS Annex in Yeouido, Seoul, President Lee remarked, "When we refer to a single home as an actual residence, there are many concerns raised, such as, 'What should I do if I have to move temporarily for work?' or 'What if my children need to be educated or hospitalized?'" He added, "In my case, since I reside at the presidential residence, my home is vacant, leading to comments like, 'Aren't you non-residential?' or 'Isn't it not an actual residence?'"He continued, "Let's change the terminology. In our previous meeting, I suggested we stop using 'actual residence' and instead use 'residential use.' I will check later if everyone agrees with this change."Addressing concerns about the so-called 'concentration on a single valuable property' phenomenon fueling speculative demand in the real estate market, President Lee acknowledged, "I made such claims when I was in the opposition and faced significant criticism, but that is the reality."* This article has been translated by AI. 2026-07-23 12:40:00