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Gas Prices Rise for Refineries While Highway Prices Drop Ahead of Chuseok As the Middle East conflict continues, the impact of rising international oil prices has caused domestic refinery prices to increase by about 100 won per liter over the past week. However, consumer gas prices are moving in the opposite direction. Following the government's decision to freeze the maximum oil prices and reduce highway gas prices by an additional 100 won during the Chuseok holiday, consumers will see some relief from high fuel costs for the time being.According to industry sources on September 20, the average refinery price for gasoline from the three major refiners (SK Energy, GS Caltex, and HD Hyundai Oilbank) rose to approximately 2,278 won per liter last week, an increase of over 100 won from the previous week. Diesel prices also rose to an average of 2,466 won per liter. The surge in refinery prices is attributed to a spike in international oil prices, with Dubai crude closing at $115.46 per barrel on September 18, a nearly 69% increase from $68.23 per barrel on February 24, before the outbreak of the Middle East conflict.In contrast, the average selling prices at domestic gas stations have not yet reversed their downward trend. According to the Korea National Oil Corporation's oil price information system, Opinet, the average selling price for gasoline at gas stations nationwide in the third week of September was 1,858.62 won per liter, while diesel was 1,843.86 won, reflecting a decrease of 0.5 won for gasoline and 0.1 won for diesel compared to the previous week.The government has also frozen the 10th maximum oil price system, which took effect on September 19. This means that even if refinery prices rise significantly due to international oil price increases, the actual prices supplied to gas stations cannot exceed the maximum price. As the gap between refinery prices and actual supply prices widens, the burden on refiners increases.The government plans to compensate refiners for losses incurred due to the maximum price system based on production costs. However, the first round of financial support for loss compensation has not yet been disbursed. The Ministry of Trade, Industry and Energy has stated that it plans to provide financial support for loss compensation within the year.During the Chuseok holiday, gas prices at highway stations will see an additional reduction. The government announced that from September 24 to 27, the prices for gasoline and diesel at 226 highway gas stations managed by the Korea Expressway Corporation will be lowered by 100 won per liter compared to prices on September 17. The government explained that this measure aims to share the burden of high fuel costs with the public.Based on Opinet prices, the expected selling prices at highway gas stations during Chuseok are projected to be 1,744 won per liter for gasoline and 1,734 won for diesel. Compared to the average selling prices at gas stations nationwide in the third week of September, gasoline will be about 115 won lower, and diesel will be about 110 won lower.Concerns have been raised by the general gas station industry regarding the additional discounts applied only to highway gas stations. The Korea Gas Station Association has demanded measures to address potential fairness issues, stating that widening the price gap between highway gas stations and regular self-service stations could distort normal price competition and lead to customer loss.One gas station representative noted, "The selling prices at highway gas stations during the Chuseok holiday are lower than the prices supplied by refiners. While international oil prices and supply prices are rising, consumer prices are being lowered through policy measures, creating a significant price disparity on the ground."* This article has been translated by AI. 2026-09-20 16:04:00
LH to Directly Develop Unsold Land in Third New Towns for Public Housing The Korea Land and Housing Corporation (LH) will expand its direct development of unsold residential land in the Third New Towns. As the government reduces the sale of public land to private developers in the metropolitan area, the conversion of unsold land to public sales and rentals is expected to change the housing composition in these new towns.According to the Ministry of Land, Infrastructure and Transport and LH, the government plans to convert residential land originally intended for private sale into direct development by LH, aiming to start construction on 53,000 housing units by 2030. With an additional 7,000 units expected from increased floor area ratios, the total supply through direct implementation could reach approximately 60,000 units.Previously, the supply of public land involved LH developing the land and selling it to private construction companies, which would then build and sell the housing. Moving forward, LH will retain ownership of the land and directly implement projects, while private construction firms will increasingly participate in construction or public-private partnership projects.Last year, the sale of residential land to private developers was halted for 27 plots across 17 districts, covering about 650,000 square meters. The Gyeonggi and Incheon areas accounted for 19 of these plots, including parts of the Third New Towns such as Wangsuk in Namyangju and Gyosan in Hanam. These plots will gradually transition to direct implementation projects following district planning and zoning changes.As the government emphasizes expanding public rental supply alongside direct implementation, the housing composition in the Third New Towns is likely to change significantly. If existing private sale plots are converted to public housing, some units may also be offered as public rentals.The government’s universal public rental initiative is also considering the Third New Towns as key supply sites. Initial candidates include Block S10 in Wangsuk, Block AC2-1 in Gyeyang, and public complex land in Gyosan, which will have relaxed income and asset criteria compared to existing public rentals, aiming to attract a broader demand base, including young people and general non-homeowners.Hong Ji-seon, the nominee for Minister of Land, Infrastructure and Transport, reaffirmed this direction during a recent National Assembly confirmation hearing. She explained that LH would directly implement the plots that were not sold to private developers and increase public rental units.The expansion of LH's direct implementation is expected to change the business model for construction companies. The structure where private builders purchase land to gain profits from development and sales is likely to decrease, while the proportion of public housing projects involving private firms in design and construction is expected to increase.For mid-sized construction companies, which typically focus on self-developed projects, the opportunity to secure public land in the metropolitan area may diminish. However, the ability to participate in construction without large capital investments in land acquisition could reduce financial burdens.A concern remains regarding LH's financial burden. Selling land to private developers allows for quicker capital recovery, but direct construction requires additional investment in building costs. While public sales can recover project costs through sales, public rentals necessitate long-term asset retention, delaying the return on investment.Last year, LH's total debt exceeded 173 trillion won. As the government is also pursuing a restructuring of LH into separate divisions for development and housing construction and for housing welfare and asset management, how to secure funding for direct implementation projects and public rental operations will be a significant challenge moving forward.Lee Eun-hyung, a researcher at the Korea Construction Policy Institute, stated, “The extent of LH's required capabilities will depend on how much responsibility is delegated to private construction companies. It is also necessary to consider whether this business structure can be sustained in the long term.”* This article has been translated by AI. 2026-09-20 16:04:00
Delay in Appointments for Prosecutor General and Major Crime Investigation Agency Following Kim Seung-won's Resignation The Prosecution Service and the Major Crime Investigation Agency are set to launch in about ten days, but the likelihood of filling their leadership positions on time is diminishing. Concerns are growing that the criminal justice system may face a leadership vacuum as the selection process for the Minister of Justice has reverted to square one.According to legal sources on the 20th, the Minister of Justice position has been vacant for nearly a month since former Minister Jeong Seong-ho stepped down on August 26. Kim Seung-won, who was nominated just 20 days prior, resigned the day before, necessitating a restart of the nomination and confirmation process in the National Assembly.Currently, Lee Jin-soo, the Deputy Minister of Justice, is acting in the ministerial role. However, he faces the burden of managing key issues such as finalizing the Prosecution Service's organizational structure, subsequent appointments, and the transfer of existing cases from the prosecution.The Ministry of Justice's proposal for the Prosecution Service's organizational structure, announced on September 4, has yet to be finalized. The proposal includes restructuring 43 investigative and joint investigation departments in local prosecutors' offices into 29 specialized major crime units and establishing a Judicial Control Division to review cases not prosecuted by the police. However, demands for a review of the division's name and the number of prosecutors have led to revisions.The selection process for the Prosecutor General, who will lead the Prosecution Service, has not even begun. The Ministry's candidate recommendation committee must recommend at least three candidates, from which the minister will propose one to the president, but the committee has not yet been formed.The Prosecutor General position has been vacant since former Prosecutor General Sim Woo-jung retired in July 2022, leaving the role unfilled for over a year and two months. The Deputy Chief Prosecutor, Koo Ja-hyun, who has been acting in the role, has also submitted his resignation, leaving Park Gyu-hyung, the head of the Planning and Coordination Department, to effectively serve as the 'acting acting' chief. The Prosecution Service is likely to launch under the existing acting leadership structure.The situation is similar for the Major Crime Investigation Agency. President Yoon Suk-yeol nominated attorney Kim Ji-yong as the first head of the agency on September 8, but the confirmation request has not been submitted to the National Assembly as additional vetting continues. Given the remaining procedures, including the confirmation hearing and the adoption of a report, it is uncertain whether the appointment will be finalized before the agency's launch.The agency's operational foundation is also incomplete. The final number of applicants for special appointments to the Major Crime Investigation Agency stands at 1,761, which is only 61.3% of the total quota of 2,874, prompting the government to conduct additional recruitment. Establishing an independent criminal justice information system is expected to take over three years, necessitating the temporary use of the police system.There are also challenges regarding jurisdiction and transfer criteria between agencies. The investigative targets of the Major Crime Investigation Agency may overlap with those of the police and the Corruption Investigation Office for High-Ranking Officials, but specific adjustment criteria have not been established. The Investigation Authority Adjustment Council is not set to convene until February 5 of next year.In a recent performance plan submitted to the National Assembly, the Major Crime Investigation Agency identified jurisdictional conflicts and procedural duality as major threats to timely investigations. Legal professionals express concern that if the leadership and collaboration standards are not established in time, there could be jurisdictional clashes over significant cases and delays in handling public welfare cases. 2026-09-20 15:52:00
Concerns Rise Over Government's Agricultural Land Survey The South Korean government is conducting a comprehensive survey to assess the ownership and use of agricultural land, raising concerns among rural communities about the potential for land dispossession and the effectiveness of the survey methods. Farmers who are unable to cultivate their land due to aging or labor shortages, as well as those who own land for various reasons such as inheritance or leasing, fear they may be subjected to uniform regulations.According to the Ministry of Agriculture, Food and Rural Affairs and rural sources, the government has been conducting a survey since May 18, targeting 1.36 million hectares of agricultural land acquired since January 1, 1996.As of the end of July, the initial survey was completed for 97% of the targeted area, covering 1.32 million hectares and 10.13 million parcels, with 27% of these parcels classified as suspected violations of land law. The initial survey utilized administrative data, satellite imagery, and artificial intelligence to verify ownership, cultivation status, and land use, subsequently identifying parcels requiring field investigations.Since August, in-depth investigations have been underway, with surveyors visiting sites to confirm actual cultivation, illegal leasing, unauthorized conversion, and fallow land violations. The Ministry plans to complete the investigations by December and will follow up with necessary hearings based on confirmed cases.Concerns have been raised in rural areas about whether the circumstances of landowners will be adequately considered during the survey process. For instance, individuals who inherited land but cannot farm due to age, illness, or urban residency, as well as those who rent additional land for cultivation, worry that their situations may be misclassified as violations. Tenant farmers are also anxious about losing their cultivated land due to changes in leasing agreements.The recent amendment to the land law, which strengthened the land disposal order from discretionary to mandatory, has further fueled anxiety. However, the Ministry has clarified that even if violations are confirmed, immediate land dispossession will not occur, and there are procedures based on the nature of the violation, including self-disposal periods and cultivation status. They emphasize distinguishing between speculative land acquisitions and minor violations arising from rural realities.As anxiety over the comprehensive survey grows, some reports suggest that land transactions have decreased since the survey began. However, the Ministry actively refuted these claims, stating that land transaction volumes have actually increased by 2.2% compared to the same period last year, and the decline in actual transaction prices has slowed, indicating no clear statistical evidence of a drastic drop in transactions or prices due to the survey.In response to the growing backlash from rural communities, President Lee Jae-myung addressed the land survey during a press conference on September 18. He clarified that the survey is not intended to forcibly sell the land of farmers who cannot cultivate but is a foundational investigation to understand actual land use and potential speculation.Minister of Agriculture, Food and Rural Affairs Song Mi-ryeong also stated during a press briefing on September 10 that the survey aims to establish data on land ownership and use, as well as to identify discrepancies between the law and rural realities since the introduction of the land law. While they will take strict action against speculative violations, the focus will be on self-correction and guidance for customary or minor violations.The Ministry plans to complete the in-depth investigations by December. On September 21, the government and the Democratic Party will review the progress of the land survey and discuss supplementary measures related to land disposal and enforcement fines. 2026-09-20 15:52:00
South Korea Women's Handball Team Defeats Kazakhstan 42-18 for Second Straight Win The South Korea women's handball team achieved a decisive victory over Kazakhstan on September 20, showcasing their dominance and boosting their chances for a gold medal.The team secured a 42-18 win against Kazakhstan in their second match of the round-robin stage at the Aichi-Nagoya Asian Games, held at the Gasu Gai Gymnasium in Aichi Prefecture, Japan. Notably, Woo Bit-na from Seoul City Hall led the offense with an impressive 10 goals.This victory marks the team's second consecutive win, following their 48-16 triumph over Hong Kong the previous day. Throughout the tournament, the team has demonstrated formidable performance, scoring 90 goals while allowing only 34.The South Korean team is aiming to reclaim the championship title after eight years. The tournament is structured as a round-robin without a knockout stage. Upcoming matches include Iran on September 22, Uzbekistan on September 23, China on September 25, and Vietnam on September 26. The final match against Japan, considered a crucial contest for the gold medal, is scheduled for September 27. In the last Asian Games held in Hangzhou, the team lost to Japan and settled for a silver medal. Fans are eager to see if they can avenge that defeat in this tournament. 2026-09-20 15:44:20
North Korea Launches Unidentified Projectile into East Sea North Korea launched an unidentified projectile into the East Sea on the afternoon of September 20.The Joint Chiefs of Staff stated that they are analyzing the specifications and range of the North Korean projectile. If confirmed as a ballistic missile, this would mark a re-launch after eight days.Previously, North Korea fired several short-range ballistic missiles on September 12, the day after the conclusion of the regular military exercise 'Freedom Edge' conducted by South Korea, the United States, and Japan.On September 14, North Korean state media reported that the launch was part of a firepower training exercise that involved a mix of cruise and ballistic missiles, as well as multiple rocket launchers and drones.* This article has been translated by AI. 2026-09-20 15:40:00
Korean Men's Team Wins Bronze in Men's Tennis at 2026 Aichi-Nagoya Asian Games The Korean men's tennis team secured a bronze medal in the team event at the 2026 Aichi-Nagoya Asian Games.On September 20, at the Higashiyama Park Tennis Center in Nagoya, Japan, Korea lost to Taiwan in the men's team event semifinals with a match score of 1-2.There is no separate third-place playoff in the Asian Games tennis events, so Korea concluded its team competition with a bronze medal after the semifinal defeat.The team event consists of three matches: doubles, singles, and doubles. In the semifinals against Taiwan, the first doubles pair of Lee Hyun-gwon and Park Jae-kyu (both from Eumseong County Office) started poorly, losing 3-5 in just eight games.However, the team's star player, Kim Jin-woong (Suwon City Hall), leveled the match by winning the second singles match 4-3 after a fierce contest.Unfortunately, the final doubles match saw Korea falter, as Kim Hyun-soo (Daejeon Dong-gu Office) and Lee Ha-neul (Suncheon City Hall) failed to win a single game, losing 0-5 to the Taiwanese pair.Tennis in this context uses a lighter, softer rubber ball compared to a tennis ball. Doubles matches are played to 9 games, while singles matches are played to 7 games.Korea has long been a dominant force in tennis on the Asian stage. Since the sport was officially adopted at the 1994 Hiroshima Games, Korea has claimed 26 of the 40 gold medals awarded. The men's team also won gold at the 2014 Incheon and 2018 Jakarta-Palembang Games.However, following a joint bronze medal finish in both the men's and women's team events at the 2023 Hangzhou Games, Korea has again settled for bronze at the Aichi-Nagoya Games.The women's team also received a bronze medal after losing to Taiwan in their earlier semifinal match. 2026-09-20 15:40:00
Trump Secures 'Permanent Control' Over Greenland to Counter China and Russia Chinese experts interpret President Donald Trump's recent announcement of securing the United States' 'permanent control' over the security of Greenland, a territory of Denmark, as a move to counter the expanding influence of China and Russia in the Arctic and to gain a strategic advantage.On September 18, Trump stated via his social media platform Truth Social that the U.S. has reached an agreement with Denmark and Greenland to secure 'permanent control' over Greenland's security, which includes the deployment of additional U.S. troops to the territory.He emphasized, "No hostile nation will be able to establish bases or military presence in Greenland without our explicit written approval, nor can they make sensitive investments there."While Trump did not specify which hostile nations he was referring to, U.S. media, citing State Department officials, reported that the agreement explicitly prohibits non-NATO countries from establishing military bases and deploying troops in Greenland, particularly targeting investment scrutiny towards China and Russia.Trump has previously expressed concerns about the potential for increased Chinese and Russian influence in Greenland, arguing that China's access to the territory's critical infrastructure and mineral resources could lead to a long-term expansion of strategic influence beyond mere economic interests.Notably, the timing of this announcement, just days before a scheduled summit with Chinese President Xi Jinping in Washington on September 24, has led to interpretations within China that the U.S. is intensifying strategic pressure ahead of the meeting.Wang Yiwei, a professor at Renmin University of China, analyzed in the South China Morning Post on September 19 that the U.S. move to strengthen control over Greenland, a strategic point in the Arctic, is similar to its geopolitical approach regarding the Panama Canal.The Panama Canal is a crucial maritime route connecting the Atlantic and Pacific Oceans. The U.S. has recently been wary of China's expanding influence around the canal, particularly concerning port operations linked to China. Wang believes that the U.S. is repeating its efforts to enhance influence over key strategic routes and locations in Greenland.He further argued that the U.S. explanation for its actions as a means to prevent Greenland from falling under Chinese or Russian influence is merely a pretext, noting that China has not effectively exercised influence in Greenland and that past investment plans have repeatedly failed.Concerns have also been raised that this Greenland agreement could undermine strategic trust between the U.S. and China and exacerbate security competition, hindering peaceful development in the Arctic region.Wang Yong, director of the International Political Economy Research Center at Peking University, stated that while the Greenland agreement is unlikely to derail the U.S.-China summit, it will undoubtedly have a negative impact on the strategic trust between the two nations. He emphasized that China must maintain a firm stance in protecting its legitimate interests and respond to the 'over-securitization' of all Arctic issues.He added, "China must safeguard its legitimate rights in international shipping and scientific research and strengthen multilateral cooperation with Arctic nations and the international community in areas such as climate change, fisheries, and polar science."In recent years, China has quietly expanded its cooperation with Russia in the Arctic region. In August, a Chinese shipping company began regular container operations along the Arctic route for the first time. Additionally, China and Russia conducted their first joint icebreaking survey in the Arctic Sea this summer.* This article has been translated by AI. 2026-09-20 15:36:00
Public Housing Prices Surge, Increasing Burden on Pre-Applicants The price of public housing in Incheon Gyeyang A6, initially estimated at 400 million won during the pre-application phase in 2023, has now exceeded 550 million won in the main application this year. With the basic construction cost, which is subject to the price ceiling system, rising by over 22% in four years, concerns have been raised about the financial burden on pre-applicants.On September 20, an analysis by Aju Economy of the pre-application and main application announcements for Incheon Gyeyang A6 by the Korea Land and Housing Corporation (LH) revealed that all ten housing types offered in the pre-application phase had higher average sale prices in the main application than the estimated prices at that time.The most supplied housing type, the 59-square-meter A type, had 419 units available, with an estimated sale price of 382.62 million won. The average sale price in the main application this year is 534.90 million won, an increase of 152.28 million won (39.8%). The 84-square-meter A type saw a difference of 186.63 million won (35.4%), rising from 527.77 million won to 714.33 million won.The price difference between the estimated sale prices during the pre-application and the average sale prices in the main application for the ten housing types (ranging from 59-square-meter A to 84-square-meter B) varies from a minimum of 100.4 million won to a maximum of 186.63 million won, with increases ranging from 26.7% to 39.8%.Increases in main application prices are not limited to A6. An analysis by the National Assembly Budget Office of LH data found that among 31 blocks with 16,556 units that completed the main application by the end of June last year, 30 blocks with 16,182 units had actual sale prices higher than the estimated prices during the pre-application phase, accounting for 97.7% of the total units. Nineteen blocks with 9,877 units saw prices rise by more than 10% compared to the estimated prices.Some pre-applicants have also withdrawn due to project delays or rising prices. Out of a total of 50,425 pre-applications, 10,693 (21.2%) were canceled.Construction costs, which influence sale prices, are on the rise. According to the Ministry of Land, Infrastructure and Transport's regular announcement on the basic construction cost for the price ceiling system on September 14, the basic construction cost for multi-family housing with a floor area of 60 to 85 square meters has increased from 1,904,000 won per square meter in September 2022 to 2,328,000 won this month. This marks an increase of 424,000 won per square meter, or 22.3%, over four years.The basic construction cost is a component used to determine the price ceiling for housing subject to the price ceiling system. When actual construction costs, such as material and labor costs, rise, the government reflects these increases in the basic construction cost.The rise in basic construction costs also affects sale prices, requiring pre-applicants to secure more funds. In response, LH is supporting pre-applicants whose main application has been delayed by more than six months by reducing the down payment ratio from 10% to 5% and allowing them to pay 30% of the second installment of the mid-term payment at the time of that payment instead of the usual two installments of 15% each.A representative from the National Assembly Budget Office stated, "While this approach may not lower the sale price itself, it can alleviate the initial financial burden for genuine buyers when prices exceed expectations or when the main application is significantly delayed. We can further consider measures to secure time for funding before occupancy by lowering the down payment ratio or postponing the mid-term payment timing for projects delayed beyond a certain period, while increasing the proportion of the final payment."* This article has been translated by AI. 2026-09-20 15:32:00
Korea Real Estate Agency Aims to Transform Big Data into Public Infrastructure In the age of AI, the issue is not a lack of real estate information, but rather an overwhelming abundance of it. Some YouTube channels report rising housing prices, while others claim they are falling. Online portals display asking prices, and the government provides actual transaction prices and various statistics. With the advent of generative AI, forecasts about the real estate market are becoming more prevalent. As information floods in, determining what to trust has become increasingly challenging. The Korea Real Estate Agency's role in the AI era begins here. AI does not set housing prices; rather, prices are determined when buyers and sellers meet, influenced by interest rates, income, loans, supply, population, and employment. No matter how advanced AI becomes, it cannot replace the fundamental principles of this market. Predicting which apartments will appreciate is a domain for numerous private experts and companies to compete in. The public sector has a different responsibility: to accurately depict what is currently happening in South Korea's real estate market. The real estate market generates vast amounts of data, including actual transaction prices, asking prices, sales and rental prices, transaction volumes, unsold units, subscriptions, and occupancy rates. However, having abundant data does not guarantee market transparency. It is essential to connect disparate information based on different criteria, filter out errors, and create reliable standards that the public can trust and utilize. The Korea Real Estate Agency should become an institution akin to the Bank of Korea for real estate data in the AI era. Just as the Bank of Korea's economic statistics serve as crucial benchmarks for economic judgment, the agency's data should be the first resource sought for understanding the real estate market. In the age of AI, institutions with trustworthy data will be more powerful than those with merely abundant data. AI can bring this data to life. By analyzing countless transactions occurring nationwide, it can quickly identify regions with sudden changes in transaction volumes, transactions that deviate from surrounding market prices, and abnormal movements in sales and rental prices. AI should act as a microscope, revealing market changes that may be overlooked by the human eye, rather than as a fortune teller predicting housing prices. Translating statistics into language the public can understand is also crucial. Previously, announcements like "apartment prices rose by 0.1%" or "transaction volumes decreased by 10%" were common. Now, generative AI can explain what these numbers mean. For instance, if a citizen asks, "Have transactions in my neighborhood increased compared to last year?" the agency can provide clear, accessible information based on public data. This service should differ from an 'investment AI' that encourages buying homes or forecasts housing prices. Instead, it should function as a 'real estate AI assistant' that helps citizens find objective facts, enabling them to make their own judgments. AI should not replace human judgment but assist in understanding complex data. This distinction clarifies the roles of the private and public sectors. Real estate tech companies, portals, and financial institutions can compete to offer more convenient services and innovative analysis models. The Korea Real Estate Agency does not need to compete by creating better apps. Its role is to establish accurate data and standards, providing a foundation for verified data to lead to private innovation. While the private sector competes in forecasting, the public sector must ensure factual accuracy. There may be differing predictions about which areas will appreciate, but there must be reliable standards for what transactions have actually occurred, how the market is moving, and which data can be trusted. As the use of AI expands, the issue of accountability becomes increasingly important. In areas like public pricing, which affect taxes, burdens, welfare, and property rights, AI-generated results cannot simply be accepted as correct. It is essential to explain which data was used and why certain outcomes were reached, and if errors occur, humans must correct them, with institutions bearing responsibility. AI analyzes, humans judge, and institutions are accountable. This is the principle that public AI must uphold. Algorithms should not replace human responsibility. As AI becomes more integrated into significant decisions, the need for explainability, verification processes, and clear accountability becomes even more critical. The AI transformation that the Korea Real Estate Agency, led by Lee Heon-wook, is pursuing is not merely about implementing a few systems. It involves connecting data, enhancing quality, quickly identifying market changes, and making complex statistics understandable to the public. If successful, the agency can evolve from merely a statistical body into the data infrastructure for South Korea's real estate market. As AI continues to advance, the number of real estate forecasts will increase. However, an abundance of information does not guarantee the presence of truth. In fact, distinguishing fact from fiction may become more challenging. Thus, paradoxically, the value of reliable public data will grow in the AI era. The Korea Real Estate Agency does not need to strive to be smarter than the market. It simply needs to provide the most accurate facts to enable citizens to make their own judgments about the market. While the private sector competes in forecasting, the public sector must ensure factual accuracy. Ultimately, the most important asset for the Korea Real Estate Agency in the AI era is trust. Lee Heon-wook, Director of the Korea Real Estate Agency: Lee Heon-wook, a former lawyer, has served as the head of the People's Solidarity for Participatory Democracy's Hope for Livelihood Division and as president of the Gyeonggi Housing and Urban Corporation (GH). Since taking office as the director of the Korea Real Estate Agency, he has emphasized fair market order and housing stability for citizens. He is working to establish an accurate and reliable real estate information infrastructure through AI-based research and analysis and innovation in real estate data.* This article has been translated by AI. 2026-09-20 15:28:00