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  • Son Heung-min Records 12th Assist, LAFC Falls to Last-Place Kansas City
    Son Heung-min Records 12th Assist, LAFC Falls to Last-Place Kansas City Son Heung-min, playing for Los Angeles FC (LAFC) in Major League Soccer (MLS), recorded his 12th assist of the season, but it was not enough to secure a victory for his team.On September 13, in a match against Sporting Kansas City at Sporting Park in Kansas City, Missouri, Son played the full game. In the second minute of the second half, with LAFC trailing 0-2, he provided an 'indirect assist' on Denis Bouanga's goal. Son passed the ball to Jacob Shaffelburg on the left, who then delivered a low cross into the penalty area, allowing Bouanga to score with his right foot.With this assist, Son's total for the season reached 12, placing him second in the league behind Lionel Messi of Inter Miami, who has 13 assists.Son's overall regular season stats now stand at 5 goals and 12 assists. Including all competitions, he has recorded 7 goals and 19 assists this season.However, Son's assist did not lead to a win for LAFC. Despite his contribution, the team was unable to equalize and conceded a third goal to Jacob Bartlett in the 71st minute, ultimately losing 3-1.LAFC, now facing a setback against last-place Kansas City, remains in sixth place among the 15 teams in the Western Conference, with a record of 11 wins, 7 draws, and 8 losses, totaling 40 points.* This article has been translated by AI. 2026-09-13 15:20:10
  • Yong Hye-in Resigns as Gender Equality Minister Nominee Amid Controversies
    Yong Hye-in Resigns as Gender Equality Minister Nominee Amid Controversies Yong Hye-in, the nominee for the Gender Equality Family Ministry, voluntarily resigned just 14 days after her nomination amid various controversies, marking a continuation of the troubling history of ministerial appointments that began during the previous Ministry of Gender Equality and Family.According to political sources on the 13th, Yong is the third nominee to withdraw from consideration for the Gender Equality Family Ministry in the past three years, following Kim Haeng and Kang Sun-woo.Just three days prior, Yong had expressed her determination to confront the various allegations against her. However, as calls for her to make a decision grew even within the ruling party, she ultimately chose to resign.In an emergency press conference held at the National Assembly, Yong stated, "I believe that stopping here is necessary to continue the spirit of solidarity within the Democratic Party and the Basic Income Party," adding, "I would like to resign from my position as minister nominee as of today."She emphasized, "I accepted the nomination to realize gender equality for all and remain committed to resolving any remaining allegations through the confirmation hearing."However, she explained her resignation by stating, "I received a message from the Democratic Party to consider the lack of public consensus regarding the dual roles of a proportional representative and a minister. Given the concerns expressed within the ruling party, I concluded that it would be practically difficult to serve as a cabinet member."Yong faced various controversies, including issues related to her spouse and the operation of the Basic Income Party, immediately after her nomination on August 30.In this context, Yong held an emergency press conference on the 10th. Contrary to expectations that she would resign, she asserted that holding both a National Assembly seat and a cabinet position is legally permissible and actively refuted the allegations against her.However, public sentiment worsened following the press conference, and opposition parties and civic groups intensified their backlash. As voices within the ruling party also called for her to make a decision, she ultimately changed her stance.This is not the first time the appointment of a Gender Equality Minister has faced difficulties. The situation dates back to 2023 when Kim Hyun-sook, the then Minister of Gender Equality, resigned in September due to the fallout from the Saemangeum World Scout Jamboree.Former President Yoon Suk-yeol nominated Kim Haeng, a former emergency committee member of the People Power Party, as her successor. However, Kim faced moral controversies, including allegations of stock parking, during the confirmation process and ultimately resigned. This led to an unusual situation where Kim Hyun-sook continued to perform her duties despite having already submitted her resignation. Her resignation was only accepted in February of the following year, and the Yoon administration operated the ministry under the acting leadership of Shin Young-sook without appointing a new minister.After the change of administration, there was hope for a turnaround when President Lee Jae-myung nominated Kang Sun-woo, a member of the Democratic Party, as the Gender Equality Minister in June of last year, suggesting that the prolonged vacancy of leadership lasting about 1 year and 4 months would be resolved.However, Kang also faced serious allegations during the confirmation process, including accusations of mistreatment of aides and false explanations. Although she went through the confirmation hearing, the controversies did not subside, and in July of last year, she stated, "I apologize to the public for any distress I may have caused," and stepped down from her nomination.Subsequently, the government nominated Won Min-kyung, a former non-permanent member of the National Human Rights Commission, as the new candidate. Won was appointed as the Minister of Gender Equality in September of last year, effectively ending the long leadership vacancy that had lasted approximately 1 year and 7 months. Following the ministry's expansion and reorganization into the Gender Equality Family Ministry on October 1 of last year, Won became the first minister of the newly established ministry.Now, with Yong's failure to pass the confirmation hearing, the government faces the burden of seeking another new minister candidate.Political analysts predict that the ongoing series of withdrawals will complicate the search for a successor. The recent resignations of candidates believed to have a high chance of passing the confirmation hearing, such as Kang Sun-woo and Yong Hye-in, have led to assessments that the so-called 'incumbent lawmaker's unbeaten streak' has been officially broken in the context of the Gender Equality Ministry appointments.Given the turmoil surrounding Yong's nomination, the Blue House is expected to exercise caution in selecting the next candidate. As a result, the Gender Equality Family Ministry is likely to continue under Won's leadership for the time being.* This article has been translated by AI. 2026-09-13 15:20:00
  • Premiums Exceeding 100 Million Won on Villas in Jangwi-dong Amid Redevelopment Hopes
    Premiums Exceeding 100 Million Won on Villas in Jangwi-dong Amid Redevelopment Hopes As demand surges for villas located in redevelopment zones in Seoul, some properties are seeing premiums exceeding 100 million won. With the rise in mid-range apartment prices, buyers are shifting towards villas, which require relatively lower financial burdens and offer potential improvements in living conditions through urban redevelopment.In the Jangwi-dong area of Seongbuk-gu, villas have been observed with premiums around 100 million won due to redevelopment expectations. A local real estate agent noted on September 3 that "currently, a premium of about 100 million won is forming on villas." One villa in the Jangwi 14 district, identified as a target for urban complex development, has a land area of about 10 pyeong and a building area of approximately 16 pyeong. While the assessed price for the apartment is in the mid-300 million won range, the sale price is around 500 million won.Interest in villas is rising not only in Jangwi-dong but also in major redevelopment areas such as Bukahyeon-dong, Noryangjin-dong, and Geoyeon-Macheon-dong. Buyers are increasingly seeking villas as a more accessible option compared to apartments, which require several hundred million won, while anticipating value increases from future redevelopment projects.The overall villa market in Seoul is also showing signs of recovery. According to an analysis by Real Estate Planet of transaction data from the Ministry of Land, Infrastructure and Transport, the number of villa transactions in Seoul reached 11,536 in the second quarter of this year, with a total transaction value of 4.9346 trillion won. Both transaction volume and value are at their highest levels in the past five years.Notably, there has been a significant increase in purchases by those in their 20s and 30s. In the second quarter of this year, the number of villas bought by this age group rose by 67.3% compared to the same period last year. This trend suggests that younger buyers, facing high financial burdens when purchasing apartments, are turning to the more accessible villa market.The rise in apartment prices in Seoul is also seen as a factor driving demand for villas. With the average price of apartments now exceeding 1.6 billion won, the upward trend in prices for mid-range apartments has made it difficult for many to enter the apartment market, prompting them to seek alternatives. Particularly, villas in redevelopment areas offer the prospect of receiving new apartment allocations upon project completion, attracting buyers who are willing to endure less favorable living conditions in the short term for long-term benefits.Kim Je-kyung, CEO of Tumi Real Estate Consulting, stated, "As the prices of new apartments rise and regulations on loans and land transactions make gap investments more challenging, demand is shifting towards redevelopment villas, which require relatively lower financial burdens." He added, "The premiums on redevelopment villas reflect expectations for future new apartment allocation rights." However, experts caution against purchasing villas solely based on redevelopment expectations. Kim advised that buyers should at least consider areas where the establishment of a cooperative has been approved, noting that it can take over ten years from cooperative approval to occupancy. He warned that early-stage areas before cooperative establishment carry significant risks in terms of project viability and progress, making them less suitable as initial investment options.Moreover, the value of villas in redevelopment areas can vary significantly based on land share, even among properties with similar prices. Buyers should carefully check individual property conditions, including project stages, rights assessment dates, inclusion in redevelopment zones, eligibility for cooperative allocations, and road frontage.* This article has been translated by AI. 2026-09-13 15:16:00
  • KOSDAQ Segment Launch: Criteria and Incentives Under Review
    KOSDAQ Segment Launch: Criteria and Incentives Under Review 한국거래소 is working on the introduction of a 'KOSDAQ Segment' to group high-quality companies within the KOSDAQ market, while finalizing criteria for inclusion, the number of stocks, and incentives. According to financial investment industry sources and the office of Shin Dong-wook, a member of the National Assembly's Political Affairs Committee, the exchange formed an advisory group for the KOSDAQ Segment in June and has held five meetings by September 11. The advisory group consists of 13 experts from academia, the venture industry, pension funds, asset management firms, investment banks, and securities companies. A key issue discussed by the advisory group is the criteria for inclusion in the upper segment. There are differing opinions on whether to prioritize financial stability and performance to attract institutional and long-term investors, or to include companies with technological capabilities and growth potential, considering the unique characteristics of KOSDAQ. Support measures for companies excluded from the upper segment are also under discussion. To prevent these companies from being perceived as low-quality in the market, options such as policy funds and tax benefits are being considered. However, tax incentives will require consultations with relevant agencies, which may delay finalization. The appropriate number of stocks in the upper segment is another variable. If the number is too small, it could lead to capital concentration and increased volatility, but stricter selection criteria than the existing KOSDAQ 150 may be necessary to attract institutional investors. In July, the exchange indicated that it was considering 'KOSDAQ Select' as the name for the upper segment. Initially, it was expected to announce the restructuring direction during the 30th anniversary event, but this has been postponed. Detailed plans are expected to be presented during 'Korea Premium Week' at the end of this month. However, the scope of the discussions has not yet been finalized. * This article has been translated by AI. 2026-09-13 15:12:10
  • Kim Jun-hwan: Requests for Overseas Korean Certification Increased by 75% in First Half of Year
    Kim Jun-hwan: Requests for Overseas Korean Certification Increased by 75% in First Half of Year Requests for overseas Korean certification increased by 75.2% in the first half of this year compared to the same period last year. The overseas Korean certification allows citizens living abroad to obtain certification using their overseas mobile phones or electronic passports without needing a domestic mobile phone.On September 13, Kim Jun-hwan, a member of the National Assembly's Foreign Affairs and Unification Committee from the Democratic Party, revealed data submitted by the Overseas Korean Agency, indicating that there were 11,390 requests for overseas Korean certification in the first half of this year. This figure is approximately 1.7 times higher than the 6,501 requests during the same period last year. The issuance of overseas Korean I-PINs, which began in August of last year, saw only 618 requests from August to December 2022, but this year, it reached 2,097 requests by June.The overseas Korean certification is praised for improving accessibility to digital services for expatriates, making it easier for them to use domestic public websites.Kim stated, "The inconveniences of maintaining a domestic mobile line or visiting overseas diplomatic missions will be significantly alleviated. I hope the Overseas Korean Agency actively promotes the certification issuance service so that more overseas Koreans can utilize it."* This article has been translated by AI. 2026-09-13 15:12:00
  • Director Lee Ji-won: Dont be afraid of Big Light... Its a work filled with laughter and hope
    Director Lee Ji-won: 'Don't be afraid of 'Big Light'... It's a work filled with laughter and hope' 영화 '미쓰백', 시리즈 '클라이맥스'를 통해 독보적인 색깔을 증명해왔던 이지원 감독이 신작 '비광'을 통해 자신만의 연출 세계를 한층 더 공고히 했다. 비극적 상황 속에서도 인물들의 연대를 통한 희망 메시지를 전하고자 하는 이 감독의 바람은 '비광'을 통해 더욱 선명하게 빛을 발한다. 코로나19 여파로 개봉이 늦어지며 5년 만에 관객들과 만나게 된 '비광'은 톱스타 부부 중구(류승룡 분)와 남미(하지원 분)가 갑자기 나타난 중구의 딸 동주(김시아 분)로 인해 파경을 맞은 뒤 8년 후 충격적인 사건에 휘말린 동주를 구하기 위해 모든 것을 던지는 찐한 가족 연대기를 그린 작품이다. 오랜 기다림 끝에 작품을 세상에 내놓게 된 이지원 감독은 복잡한 소회를 솔직하게 털어놓았다. "정말 전쟁통에 애를 잃어버린 엄마가 만신창이가 된 채 찾아다니다가 예상치 못한 타이밍에 그 아이가 저 멀리서 쩔뚝거리며 뛰어오는 걸 본 느낌이었어요. 너무 반갑고 눈물도 나는데 내가 기억하던 모습과는 또 다른 거예요. 다시 편집본을 펼쳐봤을 때 창피한 부분도 보였고, 제가 나이를 먹고 드라마 한 편을 하면서 성장한 지점도 보였어요. 여러 마음이 공존했지만 그래도 애타게 찾아다녔던 자식이고 사랑하는 마음이 남아 있었어요." 개봉을 앞두고 진행된 후반 작업의 핵심은 단연 '덜어내기'였다. 방대한 서사를 압축하는 과정에서 관객의 호흡을 고려한 치열한 고민이 이어졌다. "덜어내는 작업이 주였던 것 같아요. 워낙 많은 이야기를 담고 있는 작품이다 보니까 불필요한 부분은 덜어내야겠다는 생각이 들었고 관객에게 불친절한 부분이 있으면 조금 더 친절하게 만드는 방법도 고민했어요. 만약 예전에 바로 개봉했으면 저도 못 봤을 지점들이 있었을 것 같은데, 어느 정도 성장한 다음에 개봉하게 되면서 새롭게 보이는 부분들이 생겼어요. 득과 실이 있는 시간이었던 것 같아요." 이지원 감독의 연출적 인장은 언제나 입체적이고 생생한 캐릭터 구축에서 출발한다. 전작들에 이어 이번 작품에서도 실제 누군가 살아가고 있을 것 같은 현실적인 인물들을 탄생시키는 데 각별한 공을 들였다. "저는 영화를 만들 때 제일 공을 들이는 부분이 캐릭터 구축인 것 같아요. 그건 '미쓰백'도, '클라이맥스'도, '비광'도 마찬가지예요. 영화에 나오지 않더라도 그 사람이 태어날 때부터 어떤 삶을 겪어왔는지, 자주 내뱉는 단어는 무엇인지, 성격은 어떤지, 어떤 상황에서 어떤 모습을 보이는지 다 생각해요. 그런 걸 배우들과 상의하고 만들어가기 때문에 실제 살아 있는 사람 같다는 말을 듣는 것 같아요." 특히 극에 묵직한 현실감을 불어넣는 기식과 지숙 등의 캐릭터는 감독의 실제 기억과 주변 인물들에 대한 깊은 관찰에서 영감을 받아 완성됐다. "기식이라는 캐릭터는 저희 친할머니 이름이 기식이었어요. 완전히 똑같은 일은 아니지만, 최대한 친할머니와 비슷한 캐릭터를 만들려고 기억을 많이 끄집어냈어요. 할머니가 실제로 했던 말들도 떠올렸고요. '우리 집 귀한 자식이 어디 나 이런 데'라든가, '절대 기죽으면 안 된다' 같은 말들이 실제 기억에서 나온 거예요. 김선영 선배가 맡은 지숙 캐릭터도 제가 너무 좋아해요. 정말 어딘가 있을 법한 K-고모 같은 느낌이잖아요. 기세가 있고 다혈질이고 성질은 불같아 보여도 속은 깊고, K-장녀 같은 면이 있어요." 인물들의 말과 행동은 지극히 현실적이되, 외형이나 비주얼에는 영화적인 과장과 미학을 더하는 것 역시 이지원 감독 작품의 중요한 문법이다. "제가 '미쓰백' 때부터 그런 식으로 작업해온 것 같아요. 성격이나 말, 행동은 리얼한데 외형은 영화니까 영화적인 비주얼을 구축하려고 해요. 실제 저 사람들이 입을 것 같은 옷에서 하나 더 한다거나, 행동을 하나 더 한다거나, 표현을 하나 더 얹는 식이에요. 리얼한 사람들이 리얼한 외형 그대로 나오면 다큐멘터리잖아요. 관객이 돈을 내고 영화를 보러 오는데, 미술적으로나 의상적으로나 분장적으로나 연기적으로 재미거리를 드려야 한다고 생각해요." 리얼함과 영화적 상상력 사이의 외줄 타기를 즐긴다는 그는 자신만의 연출적 정체성에 대해서도 명확한 소신을 드러냈다. "저는 아예 리얼한 것도 제가 못하는 부분이고, 아예 시네마적인 것도 못하는 부분인 것 같아요. 항상 경계에 있는 캐릭터를 그리는 걸 좋아하고, 저 역시 경계에 있는 사람이라고 생각해요. 외줄타기를 하는 지점이 어떤 때는 장점으로 발휘되고, 어떤 때는 단점으로도 보이는데 저는 그런 상태에 놓인 사람인 것 같아요. 류승룡 선배가 '이제는 일을 걸어도 알겠다'는 식으로 말씀해주셔서, 그런 것들이 인장이 되어버렸구나 싶었어요. 앞으로는 의식하지 않아야 하는데, 못할 것 같아요. 어쨌든 제 취향이니까요." 공간과 소품 하나에도 캐릭터의 서사와 감정을 빼곡히 담아내는 미장센은 '비광'의 분위기를 지배하는 또 하나의 축이다. "미술적인 건 의도한 것 같아요. 할머니 집 세트도 옛날 할머니 집을 많이 따왔고, 장소 섭외도 정말 공을 많이 들여요. 캐릭터들이 어디서 봤던 사람처럼 느껴져야 하듯이 장소도 우리가 어디선가 봤던 장소여야 한다고 생각해요. 마지막에 하천을 따라가면서 크레딧이 올라가잖아요. 거기서 인생의 굴곡에 대한 이야기를 하고 싶었어요. 우리가 저렇게 빽빽하게 모여 살고 있고, 천 옆으로 건물이 다닥다닥 붙어 있고, 굽이치면 그다음에 뭐가 나올지 모르는 공간이잖아요. 장소에도 표정이 있었으면 좋겠고, 장소가 캐릭터의 일부가 된다고 생각해요." 비극적인 사건과 나락으로 내몰린 인물들을 다루면서도, 이지원 감독이 작품의 끝에 도달하는 지점은 언제나 결핍을 채우는 온기와 희망이다. "저는 '미쓰백'에 비하면 훨씬 밝아졌다고 생각했는데, 아직도 어둡다고 하시더라고요. 저는 제가 굴곡진 인생이나 나락 간 캐릭터들을 많이 다루지만, 그 끝에서는 항상 희망을 찾는 사람인 것 같아요. 관객들이 극장에 와주시는 게 너무 감사해서, 제가 고구마를 드렸다면 나가실 때는 그걸 다 소화시켜드리고 옷도 하나 입혀드려서 보내드리고 싶어요. 사람 때문에 힘들고 파멸을 맞기도 하지만, 결국 사람에게 희망이 있고 끝에는 온기가 있다고 생각해요." 영화 속 복수와 연대의 방식 역시 이러한 인간에 대한 믿음과 인과응보의 감각 위에서 치밀하게 설계됐다. "저는 인과응보에 대한 감각이 있는 것 같아요. 나쁜 죄를 지은 사람은 주인공이든 조연이든 벌을 받아야 한다고 생각해요. 그런데 보통 복수는 장르 영화에서 많이 다루잖아요. '비광'은 휴먼 드라마의 테두리 안에 있는 작품이기도 해서, 그 안에서 어떻게 복수를 녹여낼지가 고민이었어요. 중구가 자기 원수 앞에서 무릎을 꿇는 건 그 사람이 자신을 내려놓을 수 있는 최대치라고 생각했어요. 아버지가 할 수 있는 최대의 희생이기도 하고요. 중구가 하지 못하는 복수를 나머지 가족들이 해주는 게 그들의 역할이라고 봤어요. 기식, 남미, 지숙, 다른 가족들까지 모두가 동주 앞에서는 비광인 거예요. 자신이 가진 패를 하나씩 꺼냈을 때 비로소 연대가 완성되고, 그게 서로에 대한 진심이라고 생각해요." 인터뷰의 말미 이지원 감독은 관객들이 '비광'을 마주할 때 겉모습의 어둠에 겁먹지 말고 편안하게 다가와 주기를 당부했다. "너무 무서워하지 않으셨으면 좋겠어요. 겉으로 봤을 때 어두워 보이는 모습에 겁먹지 않으셨으면 해요. 그런 영화만은 아니거든요. 캐릭터들이 처음에는 다혈질이고 무서워 보여도 알고 보면 따뜻한 사람들이잖아요. 삶의 굴곡진 인생을 다루지만 그 안에는 코믹 감성도 있고, 신파는 아니지만 끝에는 아련한 희망이 있어요. 영화관에서 잠시 저런 가족을 닮은 가족을 보면서 울기도 하고 웃기도 하면서 나오실 수 있는 작품이라고 생각해요."* This article has been translated by AI. 2026-09-13 15:12:00
  • The Paradox of LH Division: Two Entities, One Mission
    The Paradox of LH Division: Two Entities, One Mission The South Korean government is moving forward with a plan to separate the Korea Land and Housing Corporation (LH) into two distinct entities, focusing on land development and housing construction, and residential welfare and asset management. A key challenge will be defining the boundaries of responsibility between the two organizations. Public housing involves a continuous process from land acquisition to construction, leasing, and maintenance. To enhance supply speed, the division must be designed to avoid complicating decision-making processes, ensuring shared decision-making and cost responsibilities.On September 3, the government announced a reform plan for public institutions that includes splitting LH into a 'Housing and Urban Development Corporation' (tentative name) responsible for land development and housing construction, and a 'Housing and Urban Asset Corporation' (tentative name) tasked with residential welfare and asset management. This marks the first division in 17 years since the merger of the Korea Land Corporation and the Korea Housing Corporation in 2009. However, unlike the previous system, both land development and housing construction will remain under one entity.The government aims to improve housing supply speed and residential welfare operations by enhancing functional expertise. The Ministry of Land, Infrastructure and Transport will prepare specific organizational restructuring plans.Despite the functional separation, there will still be points in the business process that require joint decisions from both entities. Currently, these tasks are managed internally within LH, but after the division, projects spanning both organizations may require separate negotiations and cost settlements.A typical example is the stage of constructing and transferring housing. If the development corporation builds public rentals and the asset corporation takes over, there may be conflicting interests regarding quality, equipment standards, and transfer prices. Savings in construction costs could lead to increased management and maintenance expenses after residents move in. Therefore, the operating entity should participate from the design stage to review both initial construction costs and long-term operating expenses.Lowering the transfer price could hinder the development corporation's cost recovery, while raising it could increase the financial burden on the operating entity. Adjusting prices between the institutions alone will not reduce overall costs. This is why the Ministry of Land must establish quality standards, transfer timing, and cost settlement criteria when determining the specific transfer methods.Post-completion defect management follows a similar pattern. It must be decided who will request repairs and respond to residents, separate from the contractor's obligation to fix defects. Clear procedures for urgent repairs and post-settlement processes must be established to prevent residents from facing inconveniences while responsibilities are disputed.During the land acquisition phase, decisions regarding asset management and development are intertwined. If the asset corporation manages functions like land banking and the development corporation handles actual development, the timing and pricing of land supply will be contentious issues. If financial and management costs are reflected in the supply price, the burden on the development corporation increases, while insufficient reflection leaves the asset corporation with a burden. The joint business plan and supply criteria must address who will bear additional holding costs if development schedules are delayed.Some projects, like rental housing, are difficult to separate into construction and operation phases. This is because the process involves everything from housing selection to price evaluation, rights analysis, quality inspection, repairs, and rental operations. Particularly, new purchase agreements require a division of responsibilities connecting quality management before completion and transfer responsibilities after.The functions of the two entities will also intertwine after housing supply. If the asset corporation manages and operates aging public rentals, the development corporation must handle their refurbishment, necessitating joint decisions on project timing, costs, and the relocation and re-entry of existing residents. There must also be a pathway for information on accumulated defects, management costs, and resident demand during operations to be reflected in the design of future housing.Connecting with past reforms is also a challenge. To control former officials and poorly performing companies and ensure fair contractor selection, the government plans to transfer the selection and contracting of design, construction, and supervision firms for public housing from LH to the Public Procurement Service starting in 2024, while LH will manage the projects post-contract. This time, with the added boundary between development and operating entities, a design that maintains existing external oversight while preventing redundant reviews and responsibility gaps is required.Key issues in the detailed plan prepared by the Ministry of Land will include the division of responsibilities between the two entities and the decision-making process for joint projects. When disagreements arise over land supply or housing acquisition conditions, it will be crucial to determine who will mediate and by when, as well as how to evaluate the connection between completion, operational performance, actual occupancy, and defect management.Choi Kyung-ho, head of the Housing Neutrality Research Institute, stated, "Previously, the structure allowed the state to assign public enterprises to use profits from development for necessary areas like public housing. After the division, the development corporation will focus solely on development, while the asset corporation will manage and operate various public housing assets. In this process, the state must also prepare measures to support areas like public housing that may incur deficits."He added, "With reduced capacity for large-scale land development following the third new town initiative, the existing paradigm of generating profits from land sales and reinvesting them into other projects has reached its limits. The division of LH can be seen as a necessary step in creating a new financial structure."* This article has been translated by AI. 2026-09-13 15:04:00
  • Dividing LHs 173 Trillion Won Debt: Who Will Bear the Burden?
    Dividing LH's 173 Trillion Won Debt: Who Will Bear the Burden? The restructuring of the Korea Land and Housing Corporation (LH) into separate entities for development and housing welfare has raised critical questions about how to divide its over 173 trillion won in debt. With the separation of profit-generating development projects from loss-incurring rental operations, experts warn that the financial structures of the two new organizations could diverge significantly, necessitating careful planning for both asset and liability distribution as well as future repayment sources.According to the Ministry of Land, Infrastructure and Transport, First Vice Minister Kim I-tak held a kickoff meeting for the LH restructuring on September 11, discussing specific directions and subsequent procedures with LH President Lee Seong-hoon and others.Earlier this month, the government proposed splitting LH into two entities: a provisional Housing and Urban Development Corporation and a Housing and Urban Asset Corporation. The development corporation will handle land development and housing construction, while the asset corporation will focus on housing welfare and asset management. A portion of the development profits generated by the development corporation is expected to be contributed to the asset corporation through a separate account in the housing and urban fund. However, the specific financial structure regarding how much of LH's existing assets and liabilities will be allocated to each entity, as well as the criteria for distributing common borrowings and corporate bonds, has yet to be determined.How to Split 173 Trillion Won in Debt: Different Repayment Methods for Each DebtAs of the end of 2025, LH's total liabilities are projected to reach 173.66 trillion won, with borrowings and corporate bonds accounting for 109.45 trillion won, or 63.0% of the total. Rental deposits amount to 27.36 trillion won, while other liabilities, including advance payments and provisions, total 36.85 trillion won.The challenge lies in the fact that simply dividing these liabilities based on asset size or business proportion is not feasible. Borrowings used for land development and sales can be recouped through the sale of land or housing, but funds invested in public rental housing must be recovered through long-term, low rental income. Rental deposits also represent a liability that must be returned to tenants.Ongoing construction of rental housing adds another layer of complexity. While the development corporation will be responsible for housing construction, the asset corporation will own and operate the completed rental properties, necessitating a decision on which entity will bear the borrowings incurred during construction. Additionally, a separate standard is needed for handling corporate bonds and common borrowings that are not directly linked to specific projects.2.5 Trillion Won Profit from Sales, but 2.7 Trillion Won Loss from RentalsRecent performance data by business segment highlights these issues. According to LH's segment reports, the total gross profit from the sales division last year was 25.277 trillion won. In contrast, the rental division recorded a gross loss of 27.383 trillion won. Although other business segments generated a profit of 2.7 trillion won, the overall gross profit was only 594 billion won. After accounting for selling and administrative expenses of 700.7 billion won, the operating loss reached 641.3 billion won, with a net loss of 91.8 billion won.The situation was markedly different in 2021, when the sales division generated a gross profit of 80.62 trillion won, offsetting a rental division loss of 17.934 trillion won, resulting in a total gross profit of 63.067 trillion won. Since then, profits from the sales division have declined, while rental losses have expanded annually: 19.362 trillion won in 2022, 22.238 trillion won in 2023, 24.806 trillion won in 2024, and 27.383 trillion won last year.Consequently, securing funding for the asset corporation, which will manage housing welfare and rental assets, has emerged as a key challenge following the split. Currently, profits from sales and development projects offset rental losses within a single entity, but once the two organizations are separated, a distinct mechanism for transferring funds will be necessary.The government plans to have a portion of the development profits generated by the development corporation contributed to the asset corporation through a fund. However, the specific contribution ratio, timing, and who will bear any shortfalls in years when development profits are insufficient remain to be clarified.The Ministry of Land, Infrastructure and Transport has stated that it is reviewing detailed financial structures as part of the restructuring plan. A ministry official noted, "We are reorganizing to resolve conflicts of interest and inefficiencies arising from the mixing of different types of work, and specific plans are currently under review."LH has also indicated that no finalized debt distribution plan exists yet. An LH official stated, "The Ministry of Land is expected to announce a reform plan that includes specific separation measures soon," indicating that they are awaiting the government's reform proposal.* This article has been translated by AI. 2026-09-13 15:04:00
  • Korean Shipbuilders Showcase Future Technologies at Gastech 2026
    Korean Shipbuilders Showcase Future Technologies at Gastech 2026 Three major South Korean shipbuilders are set to showcase next-generation eco-friendly vessels and marine technologies at the world's largest gas exhibition. Their strategy focuses on targeting global shipowners with technologies aimed at future markets, including liquefied natural gas (LNG), ammonia, and liquefied carbon dioxide (LCO2) carriers, as well as floating data centers.According to industry sources, HD Hyundai Heavy Industries, Hanwha Ocean, and Samsung Heavy Industries will participate in Gastech 2026, taking place from September 14 to 17 in Bangkok, Thailand, to highlight their advancements in eco-friendly ship technology.Now in its 37th year, Gastech is the largest exhibition focusing on natural gas and LNG, covering low-carbon solutions, hydrogen, shipping and marine, and artificial intelligence (AI).This year, top executives from the three shipbuilders will attend, including Jeong Gi-seon, chairman of HD Hyundai, Choi Sung-an, vice chairman of Samsung Heavy Industries, and Son Young-chang, vice president of Hanwha Ocean's product strategy technology division, to seek collaboration and order opportunities with global shipowners and classification societies.HD Hyundai will set up a joint booth featuring five subsidiaries, including HD Korean Shipbuilding and HD Hyundai Heavy Industries. The booth will display models of next-generation LNG carriers, floating storage and regasification units (FSRUs), and LCO2 carriers.During the exhibition, HD Hyundai plans to conduct 30 official events, including technology certifications from global classification societies and memorandums of understanding (MOUs) with major companies. A highlight will be their future LNG carrier technology, which features crew accommodations at the front of the vessel and a wind-assisted propulsion system, currently undergoing design evaluation by Lloyd's Register (LR).Hanwha Ocean will unveil a new business model that extends shipbuilding technology to data centers. This marks the first time the company will present its self-developed 60MW floating data center (FDC) in a physical model to global clients.The FDC is designed to address the surging demand for data centers driven by AI expansion, aiming to overcome the limitations of land-based data centers in terms of power supply, land acquisition, and cooling efficiency.In the eco-friendly ship sector, Hanwha Ocean will showcase a 174,000 cubic meter zero-emission LNG carrier, which is being developed with an electric propulsion system based on ammonia gas turbines, targeting a fully zero-emission technology that does not use pilot oil during the ignition process.Samsung Heavy Industries will focus on floating liquefied natural gas production facilities (FLNGs) and products for the next-generation LNG value chain, further solidifying its position in the offshore plant market after securing a large FLNG contract in June.The three shipbuilders plan to leverage Gastech as an opportunity to expand their connections with global shipowners and classification societies while promoting their next-generation technological capabilities. Their strategy includes broadening their business scope beyond LNG to encompass ammonia, LCO2, and AI-based marine infrastructure, aiming to maintain leadership in the future shipbuilding and marine market.An industry insider noted, "Gastech is a crucial venue for domestic shipbuilders to showcase their next-generation technologies and seek new order opportunities, as it gathers major global shipowners and classification societies in one place. As the shipbuilding and marine market rapidly expands with eco-friendly fuels and AI, competition for technological leadership in future markets will intensify."* This article has been translated by AI. 2026-09-13 15:04:00
  • Despite Falling Exchange Rates, Korean Investors Sell U.S. Stocks
    Despite Falling Exchange Rates, Korean Investors Sell U.S. Stocks Korean investors, known as 'Seohakgaemi,' have shifted to net selling of U.S. stocks despite a decline in the exchange rate. The won-dollar exchange rate fell below 1,400 won, creating a favorable environment for U.S. stock investments. However, growing caution about further gains in the U.S. market has led to profit-taking actions. Notably, there was a significant sell-off of leveraged exchange-traded funds (ETFs) that invest in U.S. semiconductor stocks, resulting in sales exceeding purchases. According to the Korea Securities Depository's securities information portal, Saveuro, domestic investors bought $6.4 billion worth of U.S. stocks and sold $6.5 billion from September 1 to 11. This resulted in a net selling amount of $13.1 million (approximately 1.8 billion won). In contrast to a net purchase of $207.3 million during the same period last month, investor sentiment has shifted significantly. With about a third of September already passed, the trend of net selling could continue for the month. Previously, Seohakgaemi had steadily increased their investments in the U.S. market. In June, they recorded a net purchase of $632.9 million in U.S. stocks, followed by net purchases of $4.6 billion in July and $1.9 billion in August. Recently, the decline in the exchange rate has been seen as a favorable factor for U.S. stock investments. The won-dollar exchange rate, which had exceeded 1,500 won, fell below 1,400 won since mid-August, allowing domestic investors to purchase dollar-denominated assets at a lower cost in won. Up until early this month, Seohakgaemi's buying momentum continued. From September 1 to 4, domestic investors net purchased $535.6 million in U.S. stocks. However, the mood shifted dramatically from September 7 to 11, when the amount of U.S. stock sales exceeded purchases by $666.1 million, reversing the earlier net buying. The top purchased stocks indicate a preference for short-term safe assets. From September 1 to 11, domestic investors net purchased $129.8 million in the ETF 'SGOV,' which invests in U.S. short-term treasury bonds with maturities of three months or less. They also net purchased $93.8 million in quantum computing company IonQ and $73.3 million in Alphabet. Conversely, the overall selling trend was driven by leveraged products related to U.S. semiconductor stocks. There was a large-scale net sell-off of 'SOXL,' which tracks the daily returns of the Philadelphia Semiconductor Index at three times the rate. From September 1 to 11, domestic investors net sold $677.4 million of SOXL, amounting to approximately 910 billion won. The trading pattern changed rapidly; from September 1 to 4, they net purchased $430.9 million of SOXL, but from September 7 to 11, they net sold a staggering $1.1 billion. Shinhan Investment Corp.'s research center noted, "With rising international oil prices due to heightened tensions in the Middle East, the stock market has shown weakness. Following the Producer Price Index (PPI) announcement, U.S. Treasury yields surged, leading to an increased allocation to defensive stocks in AI-focused portfolios."* This article has been translated by AI. 2026-09-13 14:56:10