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Elderly Face Rental Barriers in Japan Despite Financial Stability An 88-year-old man living in Minato, Tokyo, had no financial worries. With savings of 60 million yen (approximately $450,000) and an apartment in his name, he planned to use the proceeds from selling his apartment to fund his retirement travels, totaling over 100 million yen (around $750,000). He thought finding a rental home would be simple. However, he received the same response at every real estate agency he visited: "We have no rooms available." It wasn't a lack of funds that posed a problem, according to the Nihon Keizai Shimbun. Landlords were hesitant because there was no one to take responsibility if he died or experienced cognitive decline. Some properties required a guarantor under 70 years old, and he had no acquaintances that fit that criteria. After four months, he finally found a place and remarked, "The world is cruel." A 73-year-old man faced a similar situation. After a late-life divorce in August 2024, he sought housing with the 3 million yen he received from asset division. He was disqualified from public housing due to his savings and turned to private rentals, offering to pay ten months' rent upfront, but was rejected again for lacking an emergency contact. Landlords fear one thing more than unpaid rent: lonely deaths. If a tenant dies alone and is not discovered for some time, the costs of handling the aftermath fall entirely on the landlord. According to the Nikkei, the Japan Small Short-Term Insurance Association reported that the average loss per incident, including restoration costs, disposal of belongings, and lost rent, reached 1.12551 million yen. If decomposition occurs, it can lead to contamination and odors that require specialized cleaning, which classifies the property as an 'accident property' under Ministry of Land, Infrastructure, Transport and Tourism guidelines, necessitating disclosure to prospective tenants for about three years. 'Lonely Death Insurance' Emerges In response to these costs, 'lonely death insurance' products have emerged to compensate landlords for losses incurred when a tenant dies alone in a rental property. A survey by the association indicated that insurance payouts rose to 2,220 cases in the year leading up to March 2025, nearly quadrupling over the past decade. The average age of deceased tenants receiving payouts was 63.6 years, with over 80% being male. The association noted that rising costs of living and labor have increased the financial burden on landlords. Despite these developments, securing housing remains challenging for the elderly in Japan. A 2021 survey by the Ministry of Land, Infrastructure, Transport and Tourism found that 66% of landlords expressed reluctance to accept elderly tenants, primarily due to concerns about potential deaths in their properties, which accounted for 90% of the reasons. According to the Ministry of Internal Affairs and Communications, while about half of Japan's approximately 9 million vacant homes are available for rent, there is still a shortage of housing options for the elderly. To address the dwindling housing options for seniors, local governments have taken action. Since 2022, Nagoya City has covered the lonely death insurance premiums for landlords when elderly tenants move in. Similar insurance programs have been adopted in Chiyoda and Minato wards in Tokyo, while Shinjuku and Toshima wards provide partial subsidies for insurance premiums. The central government has also mandated local governments to promote rental housing supply for the elderly through the revised Housing Safety Net Law set to take effect in 2025. Without alleviating landlords' concerns, the housing crisis for the elderly is likely to worsen. In Japan, dying alone is no longer a rare occurrence. The Cabinet Office estimated that in 2025, 22,222 people would die alone at home and remain undiscovered for over eight days, an increase of 366 from the first government estimate in 2024. Approximately 80% of these individuals are male, and about 70% are over 65 years old. The proportion of single-person households is projected to rise to 44.3% by 2050. Lonely deaths in Japan have become a financial burden that extends beyond welfare, impacting the rental and insurance markets as well as local government finances. However, the reality remains that even elderly individuals with financial means struggle to find housing.* This article has been translated by AI. 2026-07-06 12:04:00 -
Korean Privacy Commission Expands Data Transfer Rights to Education and Employment Sectors Citizens will soon be able to request the direct transfer of their personal information to desired institutions or services in the education and employment sectors. This expansion of the 'third-party data transfer right' will allow for the direct use of academic records and employment information without the need for separate document issuance for job services. The Personal Information Protection Commission announced on July 6 that it will seek public comment on a proposed amendment to the Personal Information Protection Act, which aims to extend the third-party data transfer right to the education and employment sectors until August 10. The third-party data transfer right allows individuals to request that organizations holding their personal information send it to other institutions or services. This will reduce the need for individuals to obtain and submit their personal data directly to access necessary services. Currently, the data transfer right is implemented in the healthcare, telecommunications, and energy sectors. The Privacy Commission is gradually expanding the application of this right, taking into account public sentiment, private data demand, and industrial impact. According to the roadmap, the application of the data transfer right will expand to include education, employment, and cultural leisure sectors in 2026, followed by welfare, transportation, real estate, and retail sectors in 2027. Once the amendment is enacted, individuals will be able to transfer their academic records, course information, grades, and graduation details managed by universities, as well as employment and job-seeking information held by the Korea Employment Information Service, to their chosen institutions. For instance, job seekers will no longer need to obtain and submit their university transcripts or graduation certificates directly; they can securely transfer this information to job platforms with just a request, enabling tailored job recommendations and application services. A representative from the Privacy Commission stated, "We expect that this amendment will allow young people to utilize their educational and career information more conveniently for personalized job matching services. We will continue to expand the application of the data transfer right and ensure its stable operation in the future."* This article has been translated by AI. 2026-07-06 12:04:00 -
Dunhuang's Cultural Heritage Comes Alive Through Digital Innovation "It feels like the murals in the cave are coming to life right before my eyes," an Indonesian tourist exclaimed after attending the immersive performance 'Weidong Dunhuang' on the evening of July 2 in Dunhuang, Gansu Province, China.The 70-minute show transported the audience into the world of the Mogao Caves, a UNESCO World Heritage site that holds the essence of Buddhist art accumulated over a millennium by Eastern and Western civilizations along the Silk Road.The performance featured ancient musical instruments like the pipa and the xiao, with celestial dancers known as 'Feitian' soaring through the air, while the nine-colored deer, 'Jiuse Lu', frolicked on stage. Traditional dances depicted in the murals, such as the Hu Xuan Wu (a spinning dance from the West), Yao Gu Wu (waist drum dance), and the Pipa Wu (dance performed while playing the pipa), were brought to life through holograms and the dancers' movements.Dunhuang's ancient art, which flourished along the Silk Road, is now being transformed into new cultural content through advanced technology.The cultural heritage of Dunhuang is also evident in everyday life. Camel-shaped traffic lights, streetlights and bus stops adorned with images of Feitian and Jiuse Lu, and building walls featuring the unique colors and patterns of the Mogao murals seamlessly blend the ancient Silk Road heritage with the modern urban landscape.The city of Dunhuang, with a population of 180,000, welcomed 23.91 million tourists last year, surpassing 20 million for the first time. The tourism industry is a key sector, accounting for about two-thirds of the local economy.Visiting the Mogao Caves is just the beginning of a Dunhuang trip. The city is developing its cultural heritage into digital content and cultural IP, fostering new growth in the tourism industry.A prime example is the 'Digital Dunhuang' project. To prevent damage to the murals, access to the actual caves is strictly limited in terms of time and lighting. Instead, 735 caves and 45,000 square meters of murals have been digitized in ultra-high resolution. Visitors can enjoy detailed views of the murals and ceiling patterns at a digital exhibition center before entering the caves. The digital experience alleviated the disappointment of only being able to explore eight caves in the dark with a guide's flashlight.The influence of Dunhuang's IP is also evident in the gaming industry. Tencent's popular game 'Honor of Kings', which boasts 260 million monthly active users worldwide, collaborated with the Dunhuang Research Institute to introduce limited skins inspired by the Mogao murals' Feitian and Jiuse Lu. Notably, the Feitian skin sold over 40 million sets, demonstrating that cultural heritage can thrive in gaming content.NetEase's mobile game 'Reverse' also sent its production team to Dunhuang to recreate the Mogao Caves, the crescent-shaped oasis of Mingsha Mountain, and the scenery of the Yueya Spring in the game. Various dances depicted in the Dunhuang murals were reproduced using motion capture technology, with cultural experts consulted to expand the heritage into the game's universe.Feitian and Jiuse Lu have evolved from mere souvenirs at the Dunhuang Museum to characters in animations and fashion accessories. This shift connects cultural heritage from being a subject of preservation to one of consumption and experience, particularly popular among tourists in their 20s and 30s who have encountered Dunhuang's enchanting culture through games.The Dunhuang Museum's gift shop is bustling with tourists exploring a variety of merchandise. From refrigerator magnets and postcards to cups and plates, as well as silk scarves featuring various patterns from the Mogao murals, mouse pads, seals, and even skateboards inspired by Feitian, Dunhuang has become a major cultural IP in China, achieving annual sales exceeding 10 billion yuan (approximately $2.25 billion) alongside the Forbidden City.Recently, China has been nurturing its cultural heritage as a source of cultural soft power and content industry amid the 'Guochao' (national trend) movement, which modernizes traditional culture. Dunhuang, in particular, is becoming a testing ground for the 'cultural IP industry', reinterpreting the Silk Road's heritage through digital technology and content to create new economic value. 2026-07-06 12:04:00 -
Daekyo Educamp Launches Online Social Skills Program for Children with Learning Difficulties Daekyo Educamp has introduced an online small group program aimed at supporting children with borderline intelligence and slow learning who struggle with social development. On July 6, Daekyo Educamp announced the launch of the 'My Pace Social Skills Class.' The 'My Pace Social Skills Class' is designed around a monthly social-emotional theme, allowing children to repeatedly practice essential skills such as speaking, listening, waiting, and expressing emotions in peer relationships. Classes are conducted in real-time online sessions with a 3:1 student-to-teacher ratio, held four times a month for 40 minutes each. A notable feature of the program is the use of themed worksheets and the 'Growing Cognition' social-emotional kit. During the sessions, children engage in speaking, creating, and expressive activities to clarify their thoughts and feelings while learning to understand their peers' emotions. Monthly themes include self-understanding, optimism, and goal setting, focusing on activities that foster self-regulation, execution skills, and goal achievement in real-life peer interactions. After each session, parents receive feedback on their child's participation and progress, along with communication strategies and practice methods that can be implemented at home. Slow learners are defined as those with an IQ range of 71 to 84. While these children may learn at a slower pace than their peers, Daekyo Educamp emphasizes that with appropriate diagnosis and tailored support, they can significantly enhance their learning capabilities. Daekyo Educamp's child psychological counseling center, 'Dream Mentor,' operates the 'My Pace' support program, providing specialized educational services. A representative from Daekyo Educamp stated, "The newly launched 'My Pace Social Skills Class' is designed to allow children to practice social skills repeatedly at their own pace, facilitating natural learning." 2026-07-06 12:04:00 -
Israeli Officials Plan Visits to U.S. Amid Concerns Over Iran Negotiations As concerns grow over negotiations between the United States and Iran, Israeli officials are set to visit the U.S. in the coming days or weeks. On July 6, Israeli media outlet i24 News reported that high-ranking officials from Israel plan to meet with U.S. authorities in Washington, D.C. The visit comes amid reports of difficulties in U.S.-Iran negotiations and follows a recent agreement with Lebanon. A source familiar with the matter told i24 News, "Military options are still on the table." The outlet noted that this statement indicates Israel is considering military action against Iran should diplomatic efforts fail. The discussions are expected to involve senior figures from the diplomatic and security sectors. Foreign Minister Gideon Sa'ar is reportedly coordinating a meeting with U.S. Secretary of State Marco Rubio in Washington in about a week and a half. Sa'ar's office confirmed that they received an official invitation from the U.S., but the final decision on the visit has not yet been made. Defense Minister Yoav Gallant's visit to the U.S. is also under discussion, and senior defense officials from Israel are expected to travel to Washington for diplomatic and security consultations, according to i24 News. Sources described these movements as a form of 'air bridge' for focused discussions between the two countries. However, sources indicated that if a meeting is scheduled soon between Israeli Prime Minister Benjamin Netanyahu and U.S. President Donald Trump, the ministerial visits may be canceled. i24 News assessed that these consultations reflect close coordination between Israel and the U.S. amid rising tensions in the Middle East and uncertainty regarding diplomatic solutions with Iran.* This article has been translated by AI. 2026-07-06 11:36:00 -
Red Velvet out to steal summer with EP 'Velvet Summer' SEOUL, July 06 (AJP) - Kpop girl group Red Velvet, known for its strig of summer hits, will release a new summer EP, "Velvet Summer," on Aug. 3, agency SM Entertainment said Monday. The release will be Red Velvet's first full-group album in just over two years, following "Cosmic" in June 2024. The five-track EP is led by the title song "Surfin' Boy" and will be available on streaming platforms at 6 p.m. as well as in physical format the same day. Preorders opened Monday through online and offline retailers. Red Velvet has released a string of summer singles over the past decade, including "Red Flavor," "Power Up," "Umpah Umpah" and "Queendom." Ahead of the album's release, Red Velvet will hold a two-day fan concert, "2026 Red Velvet FAN-CON ," at Korea University's Hwajeong Gymnasium in Seoul on Aug. 1 and 2. 2026-07-06 11:32:57 -
Prosecutors Charge Employees of Four Oil Companies for Price Collusion In response to the ongoing international crisis stemming from the U.S.-Iran conflict, prosecutors have charged employees of four domestic oil companies for colluding to manipulate fuel prices and abusing their dominant market position for excessive profits. According to legal sources, the Seoul Central District Prosecutors' Office's Fair Trade Investigation Division, led by Chief Prosecutor Na Hee-seok, announced on July 6 that it has indicted HD Hyundai Oilbank, SK Energy, GS Caltex, and S-Oil for violating antitrust laws without detention. The indictment includes senior officials from the price-setting departments and legal teams of these companies. The prosecutors allege that HD Hyundai Oilbank and SK Energy conspired on the timing and extent of price increases for oil products immediately after the outbreak of the U.S.-Iran war. Investigations revealed that the collusion alone amounted to 14.2 trillion won (approximately $11.5 billion). GS Caltex and S-Oil followed suit, leading to a total competitive restriction effect of about 26 trillion won (around $21.5 billion) across the domestic oil market. Despite having sufficient crude oil reserves, the oil companies raised supply prices to unprecedented levels without justification. Notably, employees at HD Hyundai Oilbank had been exchanging pricing information with SK Energy even before the war, indicating that this incident was not an isolated occurrence but rather a chronic practice. During this process, it was confirmed that oil company employees communicated in group chats on social media, sharing messages such as 'We thrive on war. Long live Trump' and 'We might earn 2 trillion won this year,' deceiving consumers. The prosecutors also deemed the actions of GS Caltex and S-Oil as 'conscious parallel behavior' that disrupted market order. However, due to current laws, they were excluded from criminal charges, focusing instead on the direct participants in the collusion. Additionally, the prosecutors uncovered that the oil companies exploited 'full purchase contracts' and 'post-settlement systems' to incite price increases, leading to charges against all four companies. They forced independent gas stations to purchase fuel exclusively at prices they unilaterally set, threatening hefty penalties if gas stations opted for cheaper distribution routes, effectively stifling market competition. Attempts to evade legal scrutiny and conceal evidence were also revealed. HD Hyundai Oilbank and GS Caltex were found to have obtained information about the Fair Trade Commission's on-site investigations in advance, indicating obstruction of the investigation. Moreover, three oil companies were caught falsely reporting lower price increases to the Ministry of Trade, Industry and Energy than what actually occurred. * This article has been translated by AI. 2026-07-06 11:32:00 -
Chung Mong-kyu Resigns as KFA President After 13 Years Chung Mong-kyu has stepped down as president of the Korea Football Association (KFA). The KFA announced on the morning of July 6 that Chung submitted his resignation after a board meeting at Korea Football Park in Cheonan, South Chungcheong Province. Having been elected as the 52nd president of the KFA in January 2013, Chung's departure marks the end of his 13 years and 5 months in office. Initially, it was expected that Chung would resign after the conclusion of the 2026 FIFA World Cup in North and Central America. However, his sudden resignation during the tournament is seen as a move to address ongoing conflicts and controversies surrounding the association and to expedite its normalization. In his farewell remarks, Chung stated, "During my time as president of the KFA, I have strived for the development of Korean football, but at times I met expectations and at other times I caused deep disappointment." He added, "The achievements I have made are thanks to the players and fans, and all shortcomings and mistakes are solely my responsibility. I will now step down and return as a football fan to support Korean football." Following Chung's resignation, the KFA will enter an emergency management phase in accordance with its bylaws. One of the vice presidents will assume the role of acting president with the approval of the Korea Sports Council, and the association plans to prepare for the election process to select the next president. * This article has been translated by AI. 2026-07-06 11:32:00 -
Why Does POSCO Exist? The iron and steel civilization that has persisted for 5,000 years stands at a significant turning point. Carbon neutrality is transforming the very methods of steel production, while artificial intelligence is reshaping the principles of manufacturing competition. In this era of simultaneous waves, what answers is POSCO, the cornerstone of South Korea's industry, preparing? Recently, Jang In-hwa, chairman of POSCO Group, announced the "Triple Core" strategy during the CEO Investor Day, aiming to establish steel, strategic resources, and energy as the future's three pillars. This timely recognition of the need to diversify growth drivers beyond a steel-centric business structure is significant, pinpointing a crucial gateway that POSCO must navigate. However, for this strategy to align fully with the future of South Korea's industry, one fundamental question must be addressed. Why does POSCO exist? Having spent 36 years at POSCO overseeing strategic planning in steel, construction, and trade, and directly managing the restructuring of the business portfolio as the head of the group’s value management office, I have come to one conclusion: a company's strategy must begin with "Why do we exist?" rather than "What will we do?" What stood out in the recent announcement of the Southwest Mega Project, presented by the government alongside business leaders like Lee Jae-yong of Samsung Electronics and Choi Tae-won of SK Group, was not the scale of individual corporate investments. Instead, it was the philosophy of how industries can transform the nation, revitalize regions, and open up futures for the youth. The strategy of companies leading South Korea's industry is only complete when it is naturally connected to the country's future. In 1973, the Pohang Steelworks was not just a steel mill. It had the mission of "Steel for the Nation," enabling it to achieve what the world deemed impossible. What we need now is not to deny that mission but to expand it in line with the times. Now, the question POSCO must answer goes beyond "How much steel will we produce?" "How will we create a future for humanity with new steel?" This is why I proposed a new mission, "New Steel for Humanity," in my recently completed manuscript, "New Steel, Humanity's Future." POSCO's reason for existence should extend beyond becoming a better steel company to innovating South Korea's manufacturing with carbon-free steel and setting new global industry standards. When this philosophy is established, the Triple Core strategy will gain even greater momentum. First, Pohang and Gwangyang should be transformed into the world's first HyREX Green Steel Mega Project. This involves integrating hydrogen reduction steelmaking, clean power from nuclear energy, AI smart factories, EPC technology, and global standardization into a national project. This could position POSCO's investment plans as a project that redesigns the future of South Korea's manufacturing. Second, the perspective of growing together with the region must be reinforced. Pohang and Gwangyang should evolve from production bases into green steel innovation cities where research and development, startups, universities, and businesses grow together. When young people can dream of their futures in Pohang and Gwangyang rather than just in the metropolitan area, POSCO's growth becomes intertwined with the nation's growth. Third, POSCO must evolve from a company that sells steel products to one that exports South Korea's technology and industrial standards. By combining HyREX, AI manufacturing innovation, and EPC platforms, POSCO can establish the standard for carbon-neutral steel mills worldwide; this will be the ultimate realization of the Triple Core strategy. From this perspective, the Triple Core strategy has provided an excellent answer to "What will we do?" If it is complemented by the philosophical roots of "Why do we exist?" and "What kind of company will we become?" the strategy will gain much greater resonance and execution power. A strategy is completed when it starts with Why, moves through Who, and leads to What and How. South Korea's steel industry stands once again at a historic crossroads. Just as the Pohang Steelworks led the industrialization of South Korea in 1973, it is now POSCO's turn to lead the industrial revolution in the era of carbon neutrality and AI. Beyond Steel for the Nation, to New Steel for Humanity. From a company that produces steel to one that shapes the future of South Korea and humanity. Author's Key Background △ CEO of POSCO Plantec △ Former CEO of Jeonnam Dragons, Head of POSCO Value Management Office △ Head of POSCO Innovation Planning Office △ Head of POSCO Future Strategy Group △ Head of POSCO Management Planning Office △ Legal Advisor at Law Firm Lin 2026-07-06 11:32:00 -
The Decline of Homeplus: Balancing Market Principles and Social Responsibility Homeplus, a major player in South Korea's retail sector, is facing the grim reality of potential liquidation following a court's decision to terminate its corporate rehabilitation process. The company is seeking to secure 200 billion won ($150 million) as its last hope, but significant gaps between its stakeholders, MBK Partners and Meritz Financial Group, make a resolution unlikely. This situation is not merely a corporate failure; the collapse of Homeplus could have widespread repercussions for employees, suppliers, small businesses, and the local economy. It is natural for uncompetitive companies to exit the market. However, calls for the government to rescue every failing business are not constructive. Accountability for management failures must be upheld, and market principles should be respected. Yet, the goal of a market economy is not indiscriminate liquidation but rather a balance of overall economic efficiency and social costs. As of late last month, Homeplus employed over 12,000 workers. When including its suppliers, logistics companies, and small businesses that rely on it, the number of people whose livelihoods depend on Homeplus could reach as high as 100,000. If liquidation occurs, it could lead to massive layoffs, a chain of bankruptcies, and a downturn in local economies. Small suppliers and independent merchants, who typically have less financial resilience than larger corporations, may face existential threats if they are unable to recover payments or lose business partners. Ultimately, the fallout will affect not just the company but also consumers and the broader economy. This crisis prompts a reevaluation of the private equity-driven approach to corporate acquisitions and management. Criticism has long been directed at the focus on financial returns post-acquisition, which prioritizes short-term asset sales and financial restructuring over long-term competitiveness. The failure to adapt to the rapidly changing online retail environment also warrants a critical assessment of management strategies. The government cannot remain passive in this situation. This does not imply that it should forcefully support a specific company. If liquidation is unavoidable, it must quickly activate employment safety nets for workers and implement emergency financial and management stabilization measures to minimize the cascading impacts on suppliers, small businesses, and other stakeholders. For the most affected small businesses, practical support such as policy financing, tax relief, and emergency liquidity should follow. On July 3, the government announced it would inject 440 billion won ($330 million) in emergency liquidity to suppliers and provide up to 21 million won ($15,800) to workers affected by wage arrears, aiming to protect employees and suppliers rather than save Homeplus itself. The court and creditors must also consider the broader social costs in their decisions. While liquidation may be more favorable for debt recovery, the significant employment shock and costs associated with the collapse of local economies must also be factored in. The choice should not only focus on short-term recovery rates but also on minimizing overall societal losses. The Homeplus situation is not just a corporate crisis; it highlights structural issues within our economy, where industrial ecosystems, employment, and local economies are intricately linked. Market principles must be upheld, but they should not serve as a justification for neglecting social responsibilities. What is needed now is neither unconditional corporate bailouts nor cold indifference. A wise solution that adheres to principles while minimizing harm to employment and suppliers is essential. This approach is crucial for sustaining the market economy and fulfilling the minimum social responsibilities our economy must uphold.* This article has been translated by AI. 2026-07-06 11:28:00