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  • Saemaul Geumgo Provides Over $1.8 Billion in Policy Funds in First Half of 2026
    Saemaul Geumgo Provides Over $1.8 Billion in Policy Funds in First Half of 2026 Saemaul Geumgo has supplied over 2 trillion won in policy funds aimed at supporting low-income individuals and small businesses in the first half of this year.The Saemaul Geumgo Central Association announced on August 24 that the total amount of policy funds provided by Saemaul Geumgo across the country reached 2.17 trillion won in the first half of 2026.The largest portion of this funding came from local government agreement loans, totaling 1.63 trillion won, followed by the Haetsal Loan at 380 billion won and small business loans at 160 billion won.Local government agreement loans are designed to provide low-interest funding to local self-employed individuals through agreements between local governments and Saemaul Geumgo. The interest rates for these products range from approximately 2% to 6%.The scale of policy fund provision by Saemaul Geumgo has been steadily increasing. The annual supply rose from 2.958 trillion won in 2023 to 3.123 trillion won in 2024, and further to 4.052 trillion won last year. This year, the amount provided in just the first half has already surpassed half of last year's total annual supply.Notably, a significant portion of the policy funds is being allocated to non-capital regions and rural areas. Saemaul Geumgo operates about 70% of its 3,198 branches outside the capital region and has over 460 branches in 89 areas experiencing population decline.Saemaul Geumgo prioritizes low-interest products like the Haetsal Loan for customers who meet the eligibility criteria for policy fund support when they visit branches for general credit loans or financial consultations. The organization also plans to identify and share best practices for policy fund management across the country.A representative from the Saemaul Geumgo Central Association stated, "We will continue to expand policy fund support tailored to customer needs, becoming a strong pillar for the local economy."* This article has been translated by AI. 2026-08-24 11:40:10
  • South Korean Prime Minister Pledges to Incorporate Legislative Feedback into Budget Management
    South Korean Prime Minister Pledges to Incorporate Legislative Feedback into Budget Management South Korean Prime Minister Han Seung-sook stated on August 24, "I will do my utmost to build an irreplaceable South Korea through local-led growth centered on the three major mega projects and balanced development in five regions and three special areas." During a meeting of the National Assembly's Budget and Settlement Special Committee, he said, "The government will listen to the concerns and suggestions of lawmakers and will faithfully reflect them in future budget management." He explained, "Last year, the government prepared and executed an original budget of 673.3 trillion won, along with two supplementary budgets totaling 45.6 trillion won to support economic revitalization and stabilize people's livelihoods." Han acknowledged, "While the government has made every effort to execute the budget approved by the National Assembly without waste, there may have been areas that were insufficient or lacking. If there are mistakes, I hope they will be pointed out without hesitation, and I ask that you carefully examine whether the intended policy outcomes were achieved." He noted, "The people's sovereignty government was launched in a very serious situation marked by typical risks and domestic economic stagnation, with growth at 0%. From day one, we activated an emergency economic inspection task force and submitted a second supplementary budget to the National Assembly within 20 days, concentrating all possible resources on stabilizing livelihoods and recovering the economy." Han added, "We focused on supporting consumption coupons for all citizens to enhance consumer capacity and made every effort to ensure that fiscal policy serves as a catalyst for economic recovery by promoting construction activity and investment in new industries. At the same time, we dedicated ourselves to stabilizing livelihoods by alleviating inflationary pressures and adjusting debts for small businesses. As a result, we laid the groundwork for economic recovery, achieving a growth rate of 1.8% in the second half of 2025."* This article has been translated by AI. 2026-08-24 11:32:00
  • Two-Thirds of Seoul Residents Oppose Public Housing in Yongsan Park
    Two-Thirds of Seoul Residents Oppose Public Housing in Yongsan Park About two-thirds of Seoul residents oppose the idea of using Yongsan Park land for public housing. This sentiment reflects a prevailing belief that the park should be preserved as green space for future generations, regardless of the need for housing supply.On August 24, the Seoul city government announced the results of a citizen perception survey conducted with 1,000 residents aged 18 and older. The survey found that 63.9% of respondents opposed the construction of public housing in Yongsan Park, nearly double the 32.0% who supported it. The remaining 4.1% were unsure or did not respond.The intensity of opposition was also notable, with 46.7% of respondents indicating they were "strongly opposed" and 17.2% saying they were "generally opposed." In contrast, 16.7% were "strongly in favor" and 15.3% were "generally in favor." Opposition was widespread across all age groups and regions. Among age groups, the highest opposition rate was 67.1% among those in their 30s, followed by 66.0% for those aged 70 and older, 64.0% for those aged 18-29, 63.1% for those in their 60s, 61.8% for those in their 40s, and 61.3% for those in their 50s. Regionally, the southeastern area had the highest opposition at 70.3%, followed by the city center at 65.0%, southwestern area at 63.5%, northwestern area at 62.8%, and northeastern area at 60.0%, with all regions exceeding 60% opposition.The primary reason for opposing public housing was concern over the future value of the park. Among those who opposed, 81.2% cited the potential damage to the park as a short-sighted policy aimed at addressing immediate housing shortages at the expense of future generations.There were also significant doubts about the effectiveness of the housing supply. 42.3% of respondents expressed concerns that the lengthy process of land return and soil decontamination would hinder rapid housing supply, while 41.9% believed that large-scale housing development would exacerbate urban infrastructure issues, such as traffic congestion.Conversely, those in favor of public housing cited the need for housing stability for the homeless as their primary reason. 69.3% of supporters indicated that expanding public housing would contribute to housing stability for those without homes. Additionally, 56.1% believed that providing public housing instead of private development would enhance public interest, and 44.3% noted the potential to utilize the prime location in downtown Seoul.Awareness of Yongsan Park among residents was high, with 90.3% reporting they were familiar with the park. Furthermore, 75.3% were aware of the "Yongsan Park Creation Special Act," which prohibits housing construction and commercial development within the park.The Seoul city government plans to use the survey results as foundational data in discussions with the government regarding the direction of Yongsan Park's development and the city's housing supply policies.“This survey confirms that, apart from the need for housing supply, there is a broad consensus among citizens on the need to preserve the public value of Yongsan Park,” said Ahn Dae-hee, the director of future space planning for Seoul. “We will carefully consider the concerns and demands expressed in both the opposition and support to ensure that Yongsan Park becomes an open public space that future generations can enjoy.”The survey was conducted by Case Study Research from August 20 to 23, involving 1,000 Seoul residents through both landline and mobile phone interviews, with a margin of error of ±3.1 percentage points and a response rate of 10.2%.Earlier, on August 20, Seoul Mayor Oh Se-hoon proposed utilizing nearby areas such as Camp Kim, the Kyungridan area, and the Bank of Korea site for housing supply, rather than the main Yongsan Park site, stating, “If there are available sites, we can discuss them flexibly.”* This article has been translated by AI. 2026-08-24 11:32:00
  • Agricultural Land Survey Should Inspire Hope, Not Fear
    Agricultural Land Survey Should Inspire Hope, Not Fear The agricultural land survey should be a policy that instills hope in farmers. The government's initiative to conduct a comprehensive land survey is essential to prevent land speculation and establish the principle of land ownership for farming. It is the state's responsibility to manage agricultural land as a foundation for production, not as a target for speculation. However, if the process of implementing this policy causes the farmers who have dedicated their lives to agriculture to suffer the most, then the policy must be reassessed. Recently, there have been reports of a severe stagnation in rural areas, with land transactions effectively coming to a halt. As uncertainty surrounding the survey increases, potential buyers are disappearing, while the number of farmers looking to sell their land is rising. This is particularly concerning for elderly farmers preparing for retirement, who are unable to sell the land they have cultivated for a lifetime, complicating their retirement planning and financial stability. The reality that agricultural land, the last asset for many farmers, is not fetching its true value is not just an individual issue but a serious social problem threatening the sustainability of our agriculture. Moreover, the decline in land prices does not only affect individual farmers' assets. A drop in the collateral value of agricultural land makes it difficult to secure farming funds, exposing local agricultural cooperatives that rely on land as collateral to financial instability. This creates a vicious cycle that leads to a contraction in agricultural finance and a downturn in the local economy. In some regions, agricultural land has been auctioned multiple times, selling for less than half of its appraised value. The decline in farmers' asset values inevitably diminishes the vitality of the entire rural economy. It is time for land policy to shift from a focus on regulation and enforcement to one that provides hope for farmers. Above all, a stable institutional framework must be established to ensure that elderly farmers who have farmed diligently for many years can retire securely. The public purchase criteria for land that has been self-cultivated for over ten years should be relaxed to reflect reality, and provisions should be made for the public to purchase small plots of land or land designated for development if certain conditions are met. The state must serve as a minimum safety net for farmers who find themselves unable to sell their land. Additionally, agricultural pensions and retirement subsidies for land transfer should be expanded to help farmers secure stable retirement income without having to sell their land quickly. At the same time, policies for long-term leasing, joint farming, and land consolidation should be strengthened to facilitate easier access for young and successor farmers to lease or purchase land. Creating a virtuous cycle where land transitions from retiring farmers to young farmers is the most important investment for the future of agriculture. Ultimately, this land survey should not be an administrative tool for detection and punishment but a starting point for redesigning national land policy. By analyzing the actual land use in different regions, we can promote land consolidation and scaling up, establishing a system to productively utilize land that is inefficiently used. If the survey results are only used as a basis for regulation, farmers' anxieties and market contraction will only grow. Conversely, if these results are utilized to enhance land use efficiency and improve agricultural structure, the survey could mark a new turning point for our agriculture. Agriculture is not an industry that exists for short-term gains. Respecting the lives of farmers who have sustained rural areas for decades and creating an environment where the next generation can enter agriculture with hope is the essence of agricultural policy. The government should view farmers not as subjects of regulation but as partners in safeguarding agriculture. The success of the land survey will depend not on how many violations are detected but on whether it stabilizes farmers' lives, revitalizes the rural economy, and opens new opportunities for young farmers. What rural areas need now is not enforcement but a warmer and more realistic land policy that allows land to become a source of hope for farmers, a future for youth, and a valuable asset for the nation to ensure food security.* This article has been translated by AI. 2026-08-24 11:28:20
  • Regulations Eased for Small Vessel Inspections in South Korea
    Regulations Eased for Small Vessel Inspections in South Korea The Ministry of Oceans and Fisheries is set to simplify inspections for vessels under 10 tons, including propeller shafts and outboard motors, as part of amendments to the Vessel Safety Act regulations.According to the ministry, the previous requirement to detach the propeller shaft connected to the vessel's engine for inspection will be streamlined. This change is expected to reduce the inspection time from the usual 3 to 5 days and lower costs, which previously ranged from 2 million to 3 million won, a significant burden for small business owners.Under the new regulations, inspections for vessels under 10 tons will only require a visual check of the propeller shaft bearing condition if it is deemed satisfactory. Additionally, for outboard motor vessels, if the motor is functioning well, the propeller shaft discharge inspection and main engine opening inspection will be waived. Approximately 670 vessels under 10 tons and 780 outboard motor vessels are expected to benefit from these changes.The ministry also anticipates a smoother supply of specialized personnel for handling and managing hazardous materials. Individuals holding qualifications as hazardous material industry technicians or higher will now be eligible to become hazardous material inspectors.Jung Do-hyun, director of the Maritime Safety Bureau at the Ministry of Oceans and Fisheries, stated, "We expect this amendment will significantly alleviate the management burden for small businesses operating in the shipping and port sectors. We will continue to develop reasonable regulatory relief measures while prioritizing safety."* This article has been translated by AI. 2026-08-24 11:28:00
  • People Power Party Delays Decision on Local Committee Chair Election Method
    People Power Party Delays Decision on Local Committee Chair Election Method Jang Dong-hyuk, the leader of the People Power Party, has decided to postpone discussions on the election method for the chair of the party member council until the next Supreme Council meeting scheduled for the 27th.During the Supreme Council meeting held on the 24th at the National Assembly, Jang did not present the agenda regarding the election method for the local committee chair, whose term expires at the end of this month. This decision was made to gather diverse opinions from council members and seek a reasonable solution.Park Sung-hoon, the party's chief spokesperson, spoke to reporters after the meeting, stating, "The direct election of the local committee chair by party members is an idea that emerged during the process of establishing the party's direction and identity. Given that some have distorted its authenticity, we felt it was premature to reach a conclusion today."As a result, Jang and the leadership are expected to listen to various opinions from Supreme Council members, lawmakers, and party members. Previously, on the 21st, lawmakers from the People Power Party had reached a consensus that it would be better to re-elect the current local committee chairs, which contradicts Jang's proposal to elect them through a party member vote following their collective resignation.Park emphasized, "The direct election of the local committee chair envisioned by Jang is part of the process to improve the party's structure and DNA, enabling it to effectively confront the ruling party as a minority opposition. Not reaching a final conclusion does not mean we are retracting or starting from scratch."However, it remains uncertain whether a conclusion will be reached at the next Supreme Council meeting on the 27th, as various opinions within the party continue to delay the agenda. The Supreme Council had also postponed this agenda on the 20th, continuing discussions into the meeting on the 24th.Park explained, "As an open opposition party, Jang's decision to not conclude today and to take time for reflection with the Supreme Council is part of the process of establishing the party's identity."* This article has been translated by AI. 2026-08-24 11:28:00
  • NS Home Shopping and Homeplus Express Expand Market for Gochang Agricultural Products
    NS Home Shopping and Homeplus Express Expand Market for Gochang Agricultural Products NS Home Shopping is partnering with Homeplus Express and Gochang County to expand the national market for high-quality agricultural products from the Deogyusan region.On August 21, NS Home Shopping announced that it signed a business agreement with Homeplus Express and Gochang County at the Gochang County Office to promote the distribution of excellent agricultural products from the Deogyusan area and expand their national market. The signing ceremony was attended by Jo Hang-mok, CEO of NS Home Shopping and Homeplus Express, and Lee Hong-ki, the mayor of Gochang County.The agreement aims to enhance the competitiveness of local agriculture by ensuring a stable supply and distribution framework for Gochang County's agricultural products, while establishing a sustainable cooperative system between local governments and distribution companies.Under the agreement, NS Home Shopping and Homeplus Express will collaborate to boost sales of Gochang County's agricultural products and establish stable trading relationships. Gochang County will support the development of producer organizations and administrative assistance, while also creating a delivery system that meets product standards to facilitate entry into Homeplus Express stores and expand promotions.NS Home Shopping has previously sold Gochang County's agricultural products, including apples, Shine Muscat grapes, and strawberries, through TV home shopping and online channels. With this agreement, NS Home Shopping plans to combine its product discovery and commercialization capabilities with Homeplus Express's extensive offline store network to broaden sales channels.The company expects this initiative will provide local farmers with stable sales opportunities and increased income while improving consumer access to local agricultural products.Jo Hang-mok stated, "We will actively discover excellent agricultural products and establish stable sales channels to create mutually beneficial outcomes that both local farmers and consumers can experience together."Meanwhile, since NS Shopping (the operator of NS Home Shopping) acquired Homeplus Express, store sales have shown signs of recovery. From June 23 to July 9, the average daily sales over 17 days increased by approximately 35% compared to the period from June 1 to 22, and by about 55% compared to the average daily sales in May.* This article has been translated by AI. 2026-08-24 11:20:00
  • September Apartment Move-Ins Nationwide Drop to 10,184 Units, Down 30.7% from Previous Month
    September Apartment Move-Ins Nationwide Drop to 10,184 Units, Down 30.7% from Previous Month Next month, the nationwide apartment move-in volume is expected to fall to just over 10,000 units. The significant decrease in regional move-in volumes has contributed to an overall decline of more than 30% compared to the previous month.According to Zigbang on August 24, the nationwide apartment move-in volume for September is projected at 10,184 units. This marks a 30.7% decrease from 14,701 units in August and an 18.2% drop from 12,454 units in the same month last year.By region, 6,936 units will be moving into the metropolitan area, while 3,248 units will be in regional areas. Compared to the previous month, the metropolitan area saw a 23.5% decrease, and regional areas experienced a 42.4% decline. As a result, the share of the metropolitan area in the total volume increased from 61.6% in August to 68.1% in September.The decline in regional move-in volumes is also evident on an annual basis. This year, the regional move-in volume is expected to be 88,161 units, down 31.3% from 128,301 units last year. Notably, the September regional move-in volume is projected to be the lowest of the year.In terms of specific areas, Seoul will see 3,478 units moving in, with the largest project being 'The H' in Bangbae-dong, Seocho District, at 3,064 units. In Gyeonggi Province, notable projects include 'Songnae Station Prugio Cent Bien' in Bucheon with 1,045 units and 'e-Pyeonhansesang Singok Signature View' in Uijeongbu with 815 units.In regional areas, the largest project is 'Changwon Central I-Park' in Changwon, Gyeongnam, with 1,509 units. This is followed by 'Chuncheon Aterra the First' in Chuncheon, Gangwon, with 543 units, and 'Asan Sinchang 1st Kwangshin Progress' in Asan, Chungnam, with 450 units.Although large complexes like The H and Changwon Central I-Park are set to open in September, the significant reduction in regional volumes has led to an overall decrease in nationwide move-in numbers. However, from October to December, an average of about 14,700 units is expected to move in monthly, indicating a potential increase in volumes after September.In areas where large complexes are concentrated, there may be a rise in rental listings in the short term, impacting the surrounding market. Notably, The H will not have occupancy requirements for general sales, and member units can also be rented out, increasing the likelihood of rental listings before and after move-ins.Despite the decrease in move-in volumes, the scheduled openings of large complexes in the Gangnam area suggest that rental markets may experience varied trends across different regions.* This article has been translated by AI. 2026-08-24 11:12:00
  • Financial Supervisory Service and Deposit Insurance Corporation Unions Oppose Relocation
    Financial Supervisory Service and Deposit Insurance Corporation Unions Oppose Relocation 예금보험공사와 금융감독원 노동조합이 정부의 공공기관 지방이전에 반대하고 나섰다. 금융안정과 금융소비자 보호를 담당하는 기관의 특성상 금융회사와 금융당국이 밀집한 수도권에서 업무를 수행해야 한다는 주장이다. 지방이전이 현실화할 경우 전문인력 이탈로 금융안전망이 약화될 수 있다는 우려도 제기했다. 예보 노조와 금감원 노조는 24일 예보와 금감원을 제2차 공공기관 지방이전 대상에서 제외할 것을 정부에 요구했다. 두 노조는 금융회사 본점과 금융당국을 비롯해 법무·회계법인, 정보기술(IT) 전문기관 등 금융 관련 인프라가 수도권에 집중돼 있다고 주장했다. 금융위기 발생 시 금융당국과 유관기관 간 신속한 의사결정이 필요한 만큼 기관 간 물리적 거리가 멀어지면 위기 대응이 지연될 수 있다는 논리다. 전문인력 이탈 가능성도 핵심 근거로 제시했다. 금감원 노조가 앞서 실시한 설문조사에서 지방이전이 현실화할 경우 근무를 계속하겠다는 직원은 4명 중 1명 수준에 그친 것으로 나타났다. 특히 2030세대 등 젊은 실무 직원 가운데 근무를 계속하겠다는 응답은 10명 중 1명 수준에 불과한 것으로 조사됐다. 금감원은 최근 5년간 481명이 퇴직한 상태다. 노조는 회계사·변호사·계리사 등 금융·법률 전문인력의 추가 이탈이 발생할 경우 금융감독 업무의 연속성과 전문성이 떨어질 수 있다고 주장했다. 두 노조는 정부에 예보와 금감원을 지방이전 대상에서 제외하고 금융안정에 미치는 비용과 편익을 분석해 그 결과를 공개할 것을 요구했다. 또 지방이전으로 청년 직원의 주거·가족·경력 등 삶의 기반이 훼손될 수 있는 만큼 인력 이탈이 금융안정에 미칠 장기적인 영향도 정책 판단에 반영해야 한다고 촉구했다. 김영헌 예보 노조위원장과 김상우 금감원 노조위원장은 “금융시스템 수호와 국민 재산 보호를 위해 금융안정을 훼손하고 젊은 세대의 희생을 강요하는 어떠한 시도에도 단호히 맞설 것”이라고 밝혔다. * This article has been translated by AI. 2026-08-24 11:00:20
  • Quality Innovation Competition Showcases Achievements in Smart Factories and AI
    Quality Innovation Competition Showcases Achievements in Smart Factories and AI A competition showcasing improvements in quality management using artificial intelligence (AI) and big data, as well as advancements in smart factories and carbon neutrality, is taking place in Jeonbuk.The National Institute of Technology and Standards, under the Ministry of Trade, Industry and Energy, is hosting the 52nd National Quality Innovation Competition from August 24 to 28 at the Korean Sound Culture Center in Jeonju, in collaboration with the Jeonbuk Special Self-Governing Province and Jeonju City. This event, which began in 1975, allows quality improvement teams formed voluntarily by workers in various industries to present their achievements in cost reduction, quality and productivity enhancement, and problem-solving.Approximately 2,500 participants from 314 quality improvement teams that passed regional preliminaries from 17 cities and provinces across the country are taking part in this year's competition.According to the National Institute of Technology and Standards, there are about 62,000 registered quality improvement teams across more than 10,000 workplaces nationwide, involving around 610,000 participants. These teams reportedly generate annual management results worth approximately 6 trillion won through about 180,000 quality improvement activities each year.During the competition, participating teams will compete in 18 categories, including on-site improvements, safety quality, production, equipment maintenance, smart factories, big data and AI, carbon neutrality, environmental, social, and governance (ESG) practices, win-win cooperation, and new product development.Medal winners in gold, silver, and bronze will be determined based on the results of the competitions in each category, with awards presented at the 52nd National Quality Management Conference on November 25. Winning teams will receive medals from the President and certificates from the Minister of Trade, Industry and Energy.During the event, there will also be a meeting for quality management officials, quality consultation booths featuring master craftsmen, and promotional booths for companies.Kim Dae-ja, head of the National Institute of Technology and Standards, stated, "AI, big data, and digital manufacturing technologies are transforming industrial production methods and quality management systems. We will continue to promote the spread of digital quality management and strengthen the foundation for quality innovation."* This article has been translated by AI. 2026-08-24 11:00:20