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  • Odyssey Surpasses 10 Million Viewers, Captivating Generations from 2030 to 4050
    Odyssey Surpasses 10 Million Viewers, Captivating Generations from 2030 to 4050 The blockbuster film 'Odyssey' has attracted a diverse audience, drawing in viewers from both the 2030 and 4050 age groups. The 2030 generation, who encountered Greek and Roman mythology through educational comics and animations in their childhood, and the 4050 generation, familiar with the mythology through cultural content and popular media, have both flocked to theaters.Audience distribution supports this trend. According to CGV, as of September 5, the age distribution of ticket buyers for 'Odyssey' showed that 26% were in their 30s, followed by 24% in their 20s, 24% in their 40s, and 17% in their 50s. Gender-wise, the audience was evenly split, with men and women each making up 50%. This indicates a balanced influx of viewers across different age groups, centered around the 2030 demographic but inclusive of the 4050 audience.The familiarity with mythology varies by generation. For the 2030 generation, Greek and Roman mythology is a narrative they first encountered through educational comics and animations. The domestic series of educational comics on Greek and Roman mythology surpassed cumulative sales of 1.2 million copies in 2022, indicating its consumption across multiple generations. For those aged 40 and above, exposure to mythology came through school education, cultural books, broadcasts, or through learning comics shared with their children. Despite the different paths of exposure, the commonality lies in the fact that the mythology presented in 'Odyssey' is not unfamiliar to any generation.'Odyssey,' beloved by all generations, has also made waves outside theaters. The publishing market has seen the most significant response. According to Kyobo Bookstore, sales of related books, including 'Odyssey' and 'Odysseia,' surged by approximately 600% in July compared to the same period last year. In the second week of August, related books ranked second on the comprehensive bestseller lists of Kyobo Bookstore and Yes24. The increase in sales was consistent across various formats, from children's editions to different translations and e-books.Search volumes for related content have also risen on e-book platforms. On Millie's Library, searches for 'Odyssey' increased 3.3 times post-release, while searches for 'Greek Roman mythology' rose 3.6 times. This surge is significant compared to previous adaptations like 'Project Hail Mary' and 'Paradox.'Online, mythological content has been revived. The YouTube channel 'SBS Old Variety - Back Variety' is remastering and live-streaming the animation 'Olympus Guardians,' attracting hundreds of simultaneous viewers.Having surpassed 10 million viewers, 'Odyssey' continues to thrive outside theaters. The increase in book sales, search volumes, exhibition attendance, and the revival of past animations demonstrate that Greek and Roman mythology has been a familiar subject consumed through various channels by audiences from 2030 to 4050. The shared familiarity with mythology across generations is expected to fuel the ongoing success of 'Odyssey' in theaters.* This article has been translated by AI. 2026-09-07 13:52:00
  • Gyeonggis Gwacheon Mayor Emphasizes Gender Equality as a Fundamental Value for All
    Gyeonggi's Gwacheon Mayor Emphasizes Gender Equality as a Fundamental Value for All Shin Gye-yong, the mayor of Gwacheon in Gyeonggi Province, emphasized on September 5 that "gender equality is not a value for a select few, but a fundamental value that everyone should enjoy in their daily lives."On that morning, Mayor Shin made these remarks at the '2026 Gwacheon Gender Equality Week Celebration' held near the fountain at Gwacheon Central Park.This year's event, themed 'Gender Equality for All, Broader and Deeper,' served as a festival where citizens of all genders and generations could participate and empathize together.The event aligns with Mayor Shin's focus on citizen-centered governance and creating an urban environment where everyone is respected.The ceremony included awards for individuals who contributed to achieving gender equality and a presentation of the winners of an art contest.Notably, citizens shared various perspectives on gender equality through a 'Gender Equality Story (3-minute speech)' segment, where they discussed their personal experiences and thoughts.Various citizen participation programs continued throughout the venue.Family-oriented activities included decorating coffee grounds pots, making gochujang (Korean chili paste), and creating gender equality keychains, along with performances, campaigns, and exhibitions designed for enjoyment by all ages.An exhibition showcasing gender equality in daily life from the citizens' perspective was particularly eye-catching.The special exhibition 'Our Town, Gender Equality Stories' presented an interactive archive of gender equality as discovered by citizens in various spaces and daily life in Gwacheon.Additionally, the winning entries of the '2026 Gwacheon Gender Equality Art Contest' were displayed, allowing citizens to reflect on the meaning of gender equality through the artworks.Mayor Shin stressed that gender equality is not a policy value for a specific group or a few citizens, but a basic right concerning the daily lives and opportunities of all citizens.He stated, "When we respect each other's differences and provide fair opportunities to everyone, the potential of each citizen can grow even more."Participants in the event also agreed on the importance of practicing the meaning of gender equality in their daily lives.One citizen remarked, "It was great to participate in the experience programs with my children, allowing us to naturally discuss gender equality. I hope this becomes an opportunity for both adults and children to learn a culture of respecting differences from a young age."Another citizen noted, "Gender equality can feel somewhat heavy, but it was comfortable to think about it while enjoying performances, experiences, and exhibitions together. I hope such events do not end as one-time campaigns but continue in our daily lives."Mayor Shin expressed his hope that the event would be a time for citizens to enjoy and communicate while naturally empathizing with the meaning of gender equality, adding, "Gwacheon City will also strive to create a city where respect and consideration are practiced in everyday life."Meanwhile, Mayor Shin plans to use this event to broaden citizens' understanding of gender equality and to continuously work towards creating a living environment where everyone, regardless of gender or generation, is respected and has access to fair opportunities.* This article has been translated by AI. 2026-09-07 13:40:00
  • Yuhan-Kimberly: Introducing Dedicated Containers for Hand Towels and Toilet Paper Can Reduce Usage by Half
    Yuhan-Kimberly: Introducing Dedicated Containers for Hand Towels and Toilet Paper Can Reduce Usage by Half Yuhan-Kimberly is diagnosing the operational practices of hygiene consumables in businesses and public facilities, while presenting data-driven cost-saving solutions.On September 7, Yuhan-Kimberly revealed the results of a survey conducted in May among 186 purchasing and budget managers from domestic companies, which found that 78% do not accurately understand the monthly costs by consumable category.When determining the monthly order quantity for consumables, 29% rely on the experience and intuition of the responsible person, while 18% base their decisions on the previous year's usage. Ten percent follow guidelines from superiors or the company.In response, Yuhan-Kimberly installed 'Kleenex Roll Hand Towels' and 'Kleenex Centerpull Twin Toilet Paper' in some hospitals, office buildings, and public facilities, analyzing usage trends.The company reported that the average usage of hand towels decreased by 49.1%, and toilet paper usage was reduced by approximately 50%.Yuhan-Kimberly also plans to provide services that assist purchasing and facility management personnel in making data-driven budget optimization decisions when supplying these products.A Yuhan-Kimberly representative stated, “We will support multifaceted solutions that maximize cost efficiency based on data while enhancing user satisfaction in facilities.”Additionally, beyond product supply, Yuhan-Kimberly offers services to aid purchasing and facility management personnel in data-driven budget optimization decisions.Using the 'Yuhan-Kimberly Consumable Budget Optimization Workbook' and the 'Hygiene Product Cost-Saving Calculator,' corporate clients can estimate potential cost savings and usage reduction effects based on average data from similar industries and scales when introducing Kleenex Roll Hand Towels and Centerpull Toilet Paper.* This article has been translated by AI. 2026-09-07 13:40:00
  • LH Offers Employee Housing Loans with Higher Limits and Lower Rates than Government Guidelines
    LH Offers Employee Housing Loans with Higher Limits and Lower Rates than Government Guidelines The Korea Land and Housing Corporation (LH) has been found to offer housing loans to its employees with limits and interest rates that exceed government guidelines. Among 52 public institutions that operated internal housing loans last year, 22 did not adhere to government standards, raising concerns about the ongoing practice of providing 'low-interest, high-amount' loans within public institutions.On September 7, Kim Mi-ae, a member of the National Assembly from the People Power Party, revealed data from LH indicating that from 2021 to August of this year, the corporation issued 1,029 internal housing loans totaling approximately 82.9 billion won.Of these loans, 524 were for rental purposes, amounting to 44.4 billion won, while 505 were for home purchases, totaling 38.5 billion won.LH's rental loan limit is set at 90 million won for the metropolitan area, major cities, provincial capitals, and special self-governing regions, while it is 80 million won for other areas. Additionally, depending on the number of children, borrowers can receive up to an extra 50 million won, allowing for a maximum loan of 140 million won in metropolitan areas and major cities.This is significantly higher than the government-set limit of 70 million won per employee for housing loans, as outlined in the Ministry of Economy and Finance's guidelines on public institution innovation.There is also a discrepancy in interest rates. LH's rental loan interest rate is set at 3.28%, based on the corporation's weighted average borrowing rate. In contrast, the government guideline, which follows the Bank of Korea's published household loan rates, is 4.46% for the third quarter, 1.18 percentage points higher than LH's rate.For home purchase loans, LH applies different criteria than the government. While the government mandates the application of the loan-to-value (LTV) ratio and requires a mortgage on the property, LH does not apply the LTV and allows borrowers to choose between setting a mortgage or obtaining insurance. Borrowers can also utilize overlapping loans from financial institutions for housing mortgages or rental loans, and there is no separate procedure to verify eligibility for loans from the Housing and Urban Fund, such as the Didirim Loan.LH stated, "Reducing loan limits and increasing interest rates under the Labor Standards Act require union consent, and we have continuously strengthened our criteria through discussions with the union. We are also working to improve the application of LTV for home purchase loans, mortgage settings, and rental loan limits and interest rates."The issue of internal housing loans deviating from government guidelines is not unique to LH. Last year, 22 out of 52 public institutions that operated internal housing loans applied limits or interest rates that differed from government guidelines.These 22 institutions provided a total of 67.1 billion won in housing loans to 1,034 employees. During the same period, the total amount of internal housing loans across all public institutions was 102 billion won.For instance, the Korea Housing Guarantee Corporation (HUG) offered up to 200 million won for home purchase loans and 150 million won for rental loans at an interest rate of 2.5%. The Korea Real Estate Agency also provided loans for home purchases and rentals up to 140 million won, double the government standard.Despite the government's establishment of limits and interest rate criteria for internal loans at public institutions, many continue to offer more favorable loan conditions citing their own welfare programs.Kim Mi-ae remarked, "While raising the bar for loans for the public, is it fair for LH, the agency responsible for housing policy, to operate loans under more favorable conditions than the government guidelines and even demand relaxed standards? The Ministry of Land, Infrastructure and Transport must immediately rectify LH's non-compliance and conduct a thorough inspection of the internal housing loan practices of its affiliated public institutions."* This article has been translated by AI. 2026-09-07 13:36:00
  • USD/KRW spikes as NPS reportedly halts FX hedging
    USD/KRW spikes as NPS reportedly halts FX hedging SEOUL, September 07 (AJP) - The South Korean won abruptly reversed direction Monday after testing a near two-year high against the U.S. dollar, following a report that the National Pension Service (NPS) had suspended foreign-exchange hedging activity that helped support the currency during its sharp slide earlier this year. The dollar-won rate jumped to around 1,346 won by 12:30 p.m. after falling into the 1,336 range earlier in the session, reversing by roughly 10 won from its intraday low. Reuters reported shortly before noon, citing a market source, that the NPS had suspended foreign-exchange hedging operations. NPS officials, however, told AJP that the fund does not disclose details of its foreign-exchange operations as a matter of policy and therefore declined to confirm the Reuters report. The report abruptly shifted sentiment in a market where expectations of continued dollar selling by the pension fund had contributed to the won's rapid appreciation. The won had strengthened sharply earlier Monday despite stronger-than-expected U.S. employment data that increased expectations of another Federal Reserve interest rate hike. The dollar-won rate opened at 1,347.8 won and fell to 1,338.5 won around 9:30 a.m. before extending its decline into the 1,330 range for the first time in nearly 23 months. Exporter dollar selling and large foreign-currency inflows linked to the semiconductor sector had driven the won's recent rally even as external conditions turned less favorable. Currency hedging by the NPS typically involves selling dollars forward to reduce foreign-exchange exposure on its overseas assets. Related transactions by counterparties can increase dollar supply in the domestic foreign-exchange market. Suspending the activity could therefore remove an important source of expected dollar selling and put the brakes on further won appreciation. The NPS stepped up foreign-exchange hedging in June when the won weakened beyond 1,560 per dollar to its lowest level in 17 years. Dollar selling linked to the pension fund helped support the currency's subsequent recovery, with the dollar-won rate falling 22.9 won to close at 1,512.1 on June 9. The National Pension Fund Management Committee in April set the strategic hedging ratio for overseas investments at a baseline of 15 percent while allowing the fund to adjust its implementation flexibly depending on market conditions. The framework gives the NPS room to reduce hedging when the won strengthens rapidly as well as increase it during periods of excessive currency weakness. The size of the NPS' outstanding hedging positions, the timing of the suspension and whether expiring positions would be rolled over were not immediately disclosed. AJP Takeaways Reuters reported that the NPS had suspended foreign exchange hedging, prompting the won to reverse much of its earlier gain. National Pension Service hedging can add dollar supply to the domestic foreign exchange market through forward transactions and related counterparty flows. National Pension Fund Management Committee policy still allowed a 15 percent baseline hedging ratio to be implemented flexibly depending on market conditions. 2026-09-07 13:24:52
  • Reform Party Transitions to Emergency Committee Amid Leadership Resignation
    Reform Party Transitions to Emergency Committee Amid Leadership Resignation The Reform Party, following the total resignation of its leadership including Lee Jun-seok, has opted to activate an emergency committee instead of holding a party convention to address its internal issues. However, due to deficiencies in party rules, a vote among party members to amend the party constitution will be conducted this week before the transition to the emergency committee.Cheon Ha-ram, the acting party leader and floor leader, held a press conference on the 7th at the National Assembly, stating, "After gathering opinions within the party, we confirmed the necessity and rationality of a swift resolution through the transition to an emergency committee, which has received broad support within the party."As a result, the Reform Party is expected to pursue change and renewal under a new emergency committee chair. Initially, Cheon considered electing a new leadership through a party convention, but the growing desire among party members for a quick resolution through the emergency committee led to this shift.Regarding the candidates for the emergency committee chair, Cheon noted, "Since a vote on the amendment to the party constitution has not yet taken place, discussing candidates for the chair is premature. However, there are individuals I am considering and communicating with. I will reveal them at the appropriate time."The detailed regulations concerning the emergency committee are expected to be similar to those of other parties, with the operation period limited to a maximum of one year according to party rules. The newly appointed emergency committee chair is anticipated to serve until next August, aligning with Lee Jun-seok's original term.Cheon expressed shock at media reports suggesting the possibility of the Reform Party's voluntary dissolution, stating, "The party is in such an emergency situation that it is being discussed. I hope the emergency committee will work to restore trust so we can successfully navigate the next general election."On the meaning of 'restoring trust,' he elaborated, "The trust that the public has in the Reform Party must be restored, and political candidates wishing to run in the general election should be able to believe in and choose the Reform Party. How we restore trust in the talents we nominate is also a crucial aspect of our renewal plan."Cheon further commented on the direction the party should take, saying, "I wonder if the Reform Party has been following the political methods of established parties. We need to return to our original intentions and show a distinctly different approach from established parties. While we have made attempts, I believe they have not been felt by the public to a sufficient degree."* This article has been translated by AI. 2026-09-07 13:20:00
  • Korean Inc. loans for working capital rise while for investment slows
    Korean Inc. loans for working capital rise while for investment slows SEOUL, September 07 (AJP) - South Korean corporate loans rose by more than 30 trillion won in the second quarter as Korea Inc. leaned more heavily on bank credit to fund day-to-day operations while borrowing for investment lost momentum. Outstanding loans to industries at deposit-taking institutions reached 2,065.3 trillion won ($1.55 trillion) at the end of June, up 30.6 trillion won from three months earlier, the Bank of Korea said Monday. The increase was slightly smaller than the 30.8 trillion won gain in the first quarter. Working-capital loans, which finance day-to-day business operations, increased by 23.8 trillion won during the quarter, accelerating from a 21.4 trillion won rise in the previous three months. Facility loans to fund investment in plants and equipment rose 6.9 trillion won, slowing from a gain of 9.4 trillion won in the first quarter. Working-capital lending grew 6.1 percent from a year earlier, compared with 3.1 percent for facility financing. The BOK said demand for working capital included financing used to repay corporate bonds. The divergence was particularly visible in manufacturing, where working-capital loans increased by 7.0 trillion won, up from 6.6 trillion won in the first quarter. Manufacturing facility loans rose just 1.4 trillion won, sharply slowing from a 4.4 trillion won increase, as chemical and medical products as well as electronics-related industries recorded smaller increases. Overall manufacturing loans increased by 8.4 trillion won, down from 11.0 trillion won in the first quarter. Loans to manufacturers of electronics and related computer, video, audio and communications equipment increased by 1.0 trillion won. That compared with 1.8 trillion won three months earlier. Automobile and trailer manufacturers, however, saw borrowing rise by 1.3 trillion won from 800 billion won. Service-sector borrowing moved in the opposite direction, increasing by 19.9 trillion won after a 19.1 trillion won rise in the first quarter. Real estate and financial companies accounted for much of the increase, with lending to each sector rising by 6.2 trillion won. Real estate borrowing accelerated from a 2.5 trillion won increase in the first quarter as guarantees for real estate project-financing loans expanded, according to the BOK. Loans to financial and insurance businesses also increased by 6.2 trillion won, up from 4.8 trillion won, as higher derivatives-market margin requirements boosted funding demand among securities firms. The composition of lending also differed sharply by institution and company size. Loans extended by commercial banks increased by 29.3 trillion won, accelerating from 25.0 trillion won, while lending by non-bank deposit-taking institutions rose only 1.3 trillion won after a 5.8 trillion won increase. Large-company bank loans increased by 16.5 trillion won, compared with 12.7 trillion won in the first quarter. Loans to small and medium-sized companies rose by 11.4 trillion won, while lending to individual business owners increased by 1.1 trillion won. The figures showed that corporate borrowing remained strong in the second quarter, but the additional credit was concentrated more heavily in short-term operating needs and service industries than in new manufacturing facilities. AJP Takeaways Bank of Korea data showed industry loans at deposit-taking institutions rose by 30.6 trillion won in the second quarter to 2,065.3 trillion won. South Korea's manufacturers increased working-capital borrowing while facility-loan growth slowed sharply, particularly in chemicals and electronics-related industries. Korean service industries led the increase in borrowing, with real estate and financial businesses each adding 6.2 trillion won in loans. 2026-09-07 13:03:02
  • Election Commission Special Investigation Team Launches Probe into Voting Irregularities
    Election Commission Special Investigation Team Launches Probe into Voting Irregularities The special investigation team of the Election Commission, led by Lee Tae-han, officially launched its probe into the voting irregularities from the June 3 local elections.On September 7, the team held a ceremony at its office in Seocho-gu, Seoul, marking the start of its investigation. Attendees included special prosecutors Park Hyuk, Kim Eun-jung, Kim Sang-cheon, Kwon Geun-hwan, and Kim Jin-woo, along with investigation support team leader Ha Jong-chan.In his remarks, the special prosecutor stated, "Today’s ceremony marks the official start of our investigation into the allegations of infringement on citizens' voting rights. This investigation is crucial for protecting the constitutional right to vote and restoring the fairness and credibility of elections. We will conduct our work with a heavy sense of responsibility, swiftly and thoroughly."He added, "We will ensure that legal procedures and human rights are fully respected during the investigation and will not be swayed by unverified allegations or political controversies. We will confirm the facts solely through objective evidence and transparently explain the results to the public."The investigation period is set for 90 days but can be extended twice for 30 days each, allowing for a maximum duration of 150 days. The team will investigate 12 allegations, including vote manipulation, unnecessary business trips, and preferential contracts, while examining overall management failures within the Election Commission.To facilitate this, the team began analyzing investigation records and evidence received from the joint investigation headquarters on September 2, which focused on the infringement of citizens' voting rights.The special investigation team plans to concentrate its efforts on determining the involvement and responsibility of the Election Commission's leadership based on the management failures and misconduct identified by the joint investigation headquarters. They will also look into the process by which the Election Commission arbitrarily set guidelines for the number of voters and the decision to print ballots at only 50% of the voter count.Speaking to reporters, the special prosecutor explained the need for on-site investigations at the Olympic Park counting center, stating, "There are various reasons for requesting the preservation of the site, but we believe there are aspects of the voter lists and related documents that need to be verified." He continued, "The issue of ballots was postponed during the recent National Assembly audit, and ultimately, we were unable to conduct on-site verification. The special investigation team will carry out on-site verification within the legal limits allowed."Regarding the materials received from the National Police Agency, he noted, "I cannot disclose specific details, but they are only preliminary materials. The special investigation team will start anew with a fresh perspective and will not base our investigation solely on the findings of the special investigation unit but will reassess the situation independently."The team is also working to expedite the recruitment of necessary personnel. The special prosecutor mentioned, "We expect to have about 15 dispatched personnel, and we are in discussions with the Ministry of Justice regarding the remaining five, so most of them should be dispatched shortly. With the establishment of the Serious Crimes Investigation Agency in October, we also plan to request additional investigators there." 2026-09-07 12:36:00
  • South Korea leans on AI boom as consumer recovery lags
    South Korea leans on AI boom as consumer recovery lags SEOUL, September 07 (AJP) - South Korea's economy is riding a wave of artificial intelligence investment that has powered exports and factory equipment spending to blistering growth, even as the windfall struggles to reach ordinary households, the state run Korea Development Institute (KDI) said. In its September economic assessment released Monday, the KDI said the recovery remains narrowly anchored to sectors tied to the global AI build-out. Data said that sectors including semiconductors, fabricated metals, electrical equipment and machinery lead the charge while broader consumption limps behind. "The Korean economy continues to improve, led by sectors closely tied to AI-related investment," the institute said. August exports surged 68.7 percent from a year earlier, driven by information and communications technology goods. Semiconductor and computer shipments jumped 216.1 percent and 431.2 percent respectively in daily-value terms as chip prices soared. Equipment investment climbed 24.9 percent in July, fueled by a boom in semiconductor manufacturing gear. Imports of chipmaking equipment accelerated to 96.5 percent growth in August, and domestic machinery orders pointed to sustained demand for the tools that underpin AI infrastructure, the KDI said. Yet the prosperity has proved difficult to spread as retail sales slipped 0.8 percent in July, dragged down by declines in cars, home appliances and communications devices, as real wage growth for workers crawled to just 0.3 percent in the first half of the year. The institute said household purchasing power had recovered only modestly, leaving consumption to improve at a gradual pace. Consumer prices rose 3.1 percent in August, lifted mainly by base effects from telecommunications charges, while core inflation excluding food and energy quickened to 3.4 percent. The KDI cautioned that risks remain elevated, pointing to persistent tensions in the Middle East and lingering uncertainty over U.S. trade policy, both of which continue to cloud the outlook for Korean economy. AJP Takeaways - The Korea Development Institute said South Korea's economy is holding its recovery on the strength of AI-related investment, with semiconductors, machinery and electrical equipment driving output while household consumption lags. - Exports rose 68.7 percent from a year earlier in August and equipment investment climbed 24.9 percent in July, but retail sales fell 0.8 percent as first-half real wage growth reached only 0.3 percent. - The KDI warned that Middle East tensions and uncertainty over U.S. trade policy keep downside risks elevated for an economy concentrated on a single growth engine. 2026-09-07 12:35:34
  • Vietnams Construction Firms Struggle to Secure Cash Amid Unsold Inventory
    Vietnam's Construction Firms Struggle to Secure Cash Amid Unsold Inventory Vietnam's real estate market is experiencing an imbalance characterized by both increased supply and a slowdown in transactions. In the second quarter of this year, new commercial housing permits rose compared to the previous quarter, signaling an expansion in supply, yet successful transactions fell short of earlier figures. Inventory has also increased across apartments, single-family homes, and land. With high property prices and burdensome loan rates dampening buyer interest, construction companies are taking measures to defend their cash flow through bond issuance, asset sales, and adjustments to sales schedules.According to local media, including VnExpress, real estate transactions in Vietnam for the second quarter of 2026 totaled 100,105, which is only 71.5% of the first quarter and 63.7% of the same period last year. Transactions for apartments and single-family homes reached 26,567, maintaining only 86.1% of the previous quarter, while land transactions dropped to 73,438, a decrease of 67.4% from the prior quarter.In contrast to the decline in transactions, supply has rapidly increased. The number of new commercial housing project permits in the second quarter reached 113, totaling approximately 103,205 units, marking a 194.8% increase from the previous quarter and more than tripling compared to the same period last year.The increase in inventory particularly highlights the weakening absorption capacity of Vietnam's housing market. Among 34 regions, 25 reported project inventories totaling approximately 39,284 units and plots. Apartment inventory rose to 12,823 units, up about 22.2% from the previous quarter, while single-family homes increased to 15,313 units, a 46.4% rise, and land plots grew to 11,148, up 25.4%.Supply Increases, Transactions CoolAdditionally, price pressures and high financial costs are suppressing buyer activity. According to the Ministry of Construction, the average price of apartments in the secondary market is approximately 12.3 million dong (about $636) per square meter in Hanoi, 10.8 million dong (about $558) in Ho Chi Minh City, and 6.9 million dong (about $357) in Hung Yen. Although land transaction prices have decreased by about 2-3% from the previous quarter, this has not significantly improved accessibility. Real estate loan rates are typically around 12-14% annually, with some variable-rate loans reaching as high as 15-16%.Changes in the financial environment are also altering how companies secure funding. Data from the Hanoi Stock Exchange indicates that in August, real estate firms issued four bonds, raising approximately 4 trillion dong, with an average issuance rate of 12.2% annually. One major real estate company issued bonds totaling 30 trillion dong in two rounds, with rates of 11% and 12.5%, respectively. Real estate developer Kinh Bac secured 700 billion dong at an initial rate of 12% for a three-year term.Asset disposals and project transfers are also being utilized as means to secure cash. Real estate group Novaland has completed the transfer of four assets valued at a total of 11.266 trillion dong. This has allowed the company to execute about 72% of its asset liquidation plan, which aims to raise 15.617 trillion dong for debt repayment. The company still holds five assets for sale, four of which, valued at approximately 3.931 trillion dong, have preliminary agreements, but final transfers have not yet been completed.Buyers are also acting selectively. Data from the Vietnamese real estate platform Batdongsan.com.vn shows that in the second quarter of this year, the interest in purchasing real estate was approximately 37% for apartments, surpassing 23% for land and 22% for single-family homes. In Hanoi, interest in apartments rose from 38% in January to 49% in June, while interest in single-family homes dropped from 26% to 17%.Unsold Market, Resilient CompaniesIndustry insiders report that the sluggish transaction volume is directly leading to cost pressures. A sales manager at a real estate brokerage in Ho Chi Minh City noted that transaction volumes have decreased by 70-80% compared to the same period last year. Despite increasing advertising expenses and expanding customer acquisition channels, there were months with no contracts at all. He stated, "If the situation does not improve, brokerages will have to cut costs and reduce staff to maintain operations."Developers are also focusing more on cash recovery than expansion. A representative from a real estate company in the Ben Thanh area mentioned that they are postponing new project launches and concentrating on completing ongoing projects to expedite handovers and cash recovery. He said, "Currently, recovering funds takes precedence over expanding investments. Given the high interest rates and slower-than-expected sales pace, taking on additional debt is a risky decision."Market exits are also increasing. According to the General Statistics Office of Vietnam, 1,463 real estate companies completed dissolution procedures in the first half of this year, more than double the number from the same period last year. This averages about 243 companies closing each month.Experts diagnose that credit and price pressures are becoming key factors determining the resilience of companies. Bo Hong Tang, Deputy General Director of DKRA, stated, "The weakening purchasing power is more clearly revealing the financial pressures on companies with weak capital bases." Le Hoang Chau, President of the Ho Chi Minh City Real Estate Association, noted, "Restrictions on real estate loans from some banks and rapid interest rate increases are putting significant pressure on the market," adding that some companies are facing loan rates adjusted to 19-20% annually.Meanwhile, the challenges facing Vietnam's real estate market have shifted from a simple supply shortage to a clash of prices, financial costs, product competitiveness, and purchasing power. Companies with ample cash and low debt can afford to wait for recovery, but those reliant on loans and sales revenue must choose to downsize, collaborate, or transfer assets amid prolonged recovery periods.* This article has been translated by AI. 2026-09-07 12:32:00