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Articles by Yu Seol-hee
‘Allegations of favoritism for Kim Keon-hee’ Seoul~Yangpyeong Expressway revived after three years…a new route plan to be prepared next year
The Seoul-Yangpyeong Expressway project, which had been halted for more than three years amid allegations that the terminus was changed toward land owned by First Lady Kim Keon-hee’s family as preferential treatment, will be pushed forward again. The Ministry of Land, Infrastructure and Transport will reexamine the existing study results from scratch and prepare a new route plan by the second half of next year.
At this rate, will all apartments end up ‘Hillstate’ and ‘Raemian’? ···‘Hyundai·Samsung’ take half of the urban renewal projects this year
Polarization among builders in the competition for orders in urban renewal projects, such as reconstruction and redevelopment, is deepening. This is because two companies, Hyundai E&C and Samsung C&T, have taken half of the projects this year with order values exceeding 1 trillion won. As competitive bidding decreases, the two firms are securing prime sites first, while the rest are settling into a pattern of avoiding head-to-head competition with the ‘Big 2’.
Spent 300 million won to support 300 employees’ ‘drone licenses’···dedicated staff are in fact hired externally
Korea Expressway Corporation spent about 360 million won to subsidize the cost of obtaining drone pilot licenses for 300 employees, yet only 16 people actually dedicated to operating drones remain on staff. It also spent nearly 300 million won to build an integrated drone management system, but there have been no recorded cases of enforcing traffic violations using drones. According to the ‘Status of Dedicated and Concurrent Drone Operations Personnel’ that Rep.
In areas where the pre-sale price cap was lifted, sale prices were 52% higher than nearby market levels
In Seoul, the pre-sale prices of private apartments in areas where the price cap was lifted were found to be 52% higher than surrounding market levels. There is criticism that the scale of the increase is excessive even after accounting for higher land costs and construction costs. According to materials released on the 6th by the office of Rep.
‘Charging tolls by recognizing license plates’ trial shows a 78% non-payment rate···Controversy over the effectiveness of ‘smart tolling’ that costs 128.2 billion won
In a pilot project for ‘smart tolling’, which recognizes license plates and charges·settles tolls without stopping on highways, nearly 80% of vehicles failed to pay on time and went unpaid. As at least 128.2 billion won would have to be invested for the 6% of vehicles without Hi-Pass devices, questions are being raised about whether introduction would be effective. According to materials submitted by the office of Rep.
Hong Ji-seon, nominee for Minister of Land, Infrastructure and Transport: lifting the land transaction permit system would spur home prices; extension decision will follow market conditions
Hong Ji-seon, the nominee for Minister of Land, Infrastructure and Transport, said the decision on whether to extend the designation of land transaction permit zones covering all of Seoul and 12 areas in Gyeonggi, which is set to expire at the end of this year, will be made after reviewing market conditions. At a National Assembly confirmation hearing on the 16th, when Rep.
Seoul apartment rally nears breaking the all-time longest streak of 85 weeks···What is pushing up Seoul home prices
A ‘triple rise’ extending to jeonse and monthly rents Will liquidity and supply shortages, along with anxiety, push home prices even higher? Seoul apartment sale prices have risen for 83 consecutive weeks, putting the breach of the all-time longest rise of 85 weeks during the Moon Jae-in administration within reach. With a ‘triple rise’ in which jeonse and monthly rents are also climbing, high monthly rents exceeding 3 million won per month, once confined to the Gangnam area, are spreading.
Average presale price for 59㎡ Seoul apartments nears 1.6 billion won
The average presale price for 59㎡ exclusive-use Seoul apartments is on the verge of topping 1.6 billion won RealHouse, a presale assessment company, analyzed Korea Real Estate Board Subscription Home data on the 10th and found that as of August the average presale price for 59㎡ in Seoul was 1,593.43 million won, up 1.97% from the previous month. Since May, Seoul has set new highs, remaining in the 1.5 billion-won range for four consecutive months.
“Jjokbangs are disaster zones and prisons··· Ten people share a single bathroom”
National Assembly ‘Forum to Enact the Housing Support Act for the Housing-Insecure’ Last year: 550,000 housing-insecure households Public rental supply: only 2,000 units per year “We are not asking for grand privileges. We are asking for the bare minimum of a home where a person can breathe and live with dignity. Jjokbang villages are disaster zones and one-pyeong prisons.” This was the plea of Oh Jung-Chal, a resident of the jjokbang village in Dongja-dong, Yongsan-gu, Seoul.
‘Private development’ National Land Satellites 3·4 to launch from 2030…“Estimated value alone KRW 471 billion”
Passes preliminary feasibility study… KRW 312.9 billion to be invested The development project for National Land Satellites 3·4, used for land management and disaster response, will begin full-scale development with a target launch in 2030. For the first time in this program, a model in which the private sector directly manufactures and supplies the satellites will be introduced.
Starting tomorrow, the ‘Chuseok train ticket booking war’ begins···The general public can book for five days starting on the 7th
Priority reservations for transportation-vulnerable groups such as seniors and pregnant women for two days on the 3·4 Chuseok holiday train ticket reservations will begin on the 3rd. First, over two days on the 3rd and 4th, reservations for transportation-vulnerable people such as seniors and pregnant women will take place. General reservations for the entire public start on the 7th.
A dedicated underground KTX line beneath Susaek∼Gwangmyeong will open in 2036…‘Seoul∼Gwangmyeong’ travel time will be reduced by 9 minutes
A dedicated underground high-speed rail (KTX) line will run from Susaek in Seoul to Gwangmyeong in Gyeonggi Province. With a target opening in 2036, the Seoul∼Gwangmyeong travel time is expected to be shortened by about 9 minutes.
‘Scraped-together sites’ get a groundbreaking timetable, and even private redevelopment rules are eased··· mobilizing every available means
The government's plan unveiled on the 13th, titled ‘Housing Swift Supply Plan for Stabilizing the Real Estate Market’, can be seen as mobilizing every available tool. In addition to lifting greenbelt restrictions and launching public housing sites in the shortest possible time, it also eased private redevelopment and reconstruction rules by lowering initial consent thresholds for maintenance projects. Through this, it plans to push annual groundbreaking for 30,000 homes in Seoul alone.
Designation of new housing sites including Deokso, Namyangju, with 120,000 homes to be supplied by 2030···“Build to the point that people say ‘Have they gone mad for not building homes’”
On the 13th, the government announced a plan to supply an additional 120,000 homes in the Seoul metropolitan area, including Deokso in Namyangju, Gyeonggi, and Gwangju, Gyeonggi, by 2030. The Ministry of Land, Infrastructure and Transport announced the ‘Comprehensive Financial Measures for Stabilizing the Real Estate Market’ that day. This is the third supply package under the Lee Jae Myung administration.
‘Criticism over reduced opportunities’ batters SH, it “apologizes”··· to restore ‘priority points for vulnerable groups in rental housing’
‘Expanding housing for youth·single-person households’ as the stated goal In the ‘2026 redevelopment rental housing tenant recruitment,’ It removed selection criteria for older adults·day laborers, drawing strong backlash SH “supplementing for reannouncement, recruitment schedule postponed” Seoul Housing & Communities Corporation (SH) has decided to revive the ‘priority points for housing-vulnerable groups’ that it had eliminated while pledging to expand rental housing opportunities for young...
LH President Lee Seong-hun “We will make the Gangnam office building available as housing for young people”
Korea Land and Housing Corporation (LH) will convert the site and office building of its Seoul Regional Headquarters in Nonhyeon-dong, Gangnam-gu, Seoul into youth housing to increase housing supply in the urban core. The site, about 2,000 pyeong in area, is near Gangnam-gu Office Station and Seonjeongneung Station, and it was also included in past government supply plans when they were announced.
SK hynix to recruit entry-level office staff in the second half…introduces ‘half-day in-depth interview’
SK hynix will hire new technical office employees in the second half of this year. The company is accelerating talent acquisition in line with the expansion of the artificial intelligence (AI) semiconductor market. It has also overhauled its hiring process, introducing a new ‘half-day in-depth interview’. On the 30th, SK hynix announced that it will accept applications for rolling recruitment of entry-level employees from the 20∼26 of next month.
One in two KTX trains is an ‘over-20-year-old train’…From 2032, 49 ‘next-generation KTX’ units will operate
As trains in service for over 20 years have surpassed half of the fleet and breakdowns have surged, the government has unveiled a comprehensive maintenance plan. It will invest 200 billion won to replace aging KTX parts by 2030, and from 2032 will sequentially introduce 49 next-generation KTX units, embarking on a ‘high-speed train generational replacement’.
A school in a supertall building?... Will office-elementary school "cohabitation" succeed?
"If you cannot spread out, build up" Amid the plan for 10,000 homes in the Yongsan International Business District A new model for tight sites draws attention A new building-type school in the urban core Route separation from outsiders, places for physical activity, and more These raise concerns, but design can overcome them When people think of a school, they usually picture a broad playground and low-rise buildings.
‘Yongsan 10,000-unit housing supply standoff’ Kim Yoon-Deok·Oh Se-Hoon hold a private meeting after half a year···Will they find common ground
Minister of Land, Infrastructure and Transport Kim Yoon-Deok and Seoul Mayor Oh Se-Hoon met for the first time in about six months to discuss housing supply plans. On the 24th, the minister and the mayor met privately and exchanged views on pressing housing policy issues. This was their third meeting, following those in November and December last year. Working-level officials responsible for housing supply from both sides were also present.
“Use the integrated app for Chuseok train reservations” Korail·SR integrated app to launch in August
The integrated app of Korea Railroad Corporation (Korail) and SR will launch in August. SR app users will need to download the integrated app. The Ministry of Land, Infrastructure and Transport announced on the 13th that, ahead of the launch of the Korail·SR integrated app, it will begin ‘membership conversion’ to merge the members of the two organizations into one. The integrated app will be released in August as an update to the existing Korail app.
Holding real estate forums four times, how to keep them from becoming a ‘dud’?···Who, when, and how matter more than a ‘supply-at-all-costs’ approach
“Stabilize youth housing and the jeonse and monthly rent markets to ease anxiety” “Use semiconductor windfall tax revenue to build public rental housing” “There have been no government tax measures so far” “Coordinate the trio of supply, tax, and finance measures” From the 14th to the 23rd, the government will hold a large real estate forum in four sessions focused on the three pillars of housing supply, finance, and taxation.
Yeongtong-gu, Suwon up 1.19% ↑ in one week on ‘balloon effect’··· Gains also widen in regulated Giheung and Guri
Weekly apartment price trends Dongtan ranks first nationwide in the rate of increase Yeongtong, Suwon shows the largest expansion Seoul also posts a larger rise than the previous week Although it is part of the semiconductor belt, Yeongtong-gu in Suwon, which is not a regulated area, saw its weekly apartment price growth jump to nearly three times the previous week, showing a ‘balloon effect’.
Ministry of Land, Infrastructure and Transport designates the area around the Gwangju Military Airport site for the ‘semiconductor cluster’ as a Land Transaction Permission Zone…effective from the 14th
The Ministry of Land, Infrastructure and Transport has designated the Gwangju Military Airport site and nearby areas as a Land Transaction Permission Zone. The Gwangju Military Airport site is where the Honam-region semiconductor cluster, one of the three government megaprojects, will be located.
Concerns mount over a pledge by Oh Se-hoon… “If 310,000 homes are supplied, 300,000 households will be driven out”
“Affordable housing changes into high-priced, pre-sale apartments, pushing home prices↑ The paradox of supply: large-scale relocation drives up jeonse and monthly rents” “Park Won-soon promoted urban renewal projects even more than Oh Se-hoon Demolishing everything at once led to a ‘net decrease’ in housing… we must not repeat the same mistake” Concerns were raised that a pledge by Seoul Mayor Oh Se-hoon to supply 310,000 homes by 2031 through redevelopment and reconstruction (urban renewal...
‘Feel free to step out to the restroom’…Seoul metropolitan subway, fare waived if you board again within 15 minutes
Starting on the 20th, passengers on the Seoul metropolitan subway who briefly exit the gates for reasons such as using the restroom and board again within 15 minutes will not have to pay the additional base fare (1,550 won). The Ministry of Land, Infrastructure and Transport announced on the 15th that it will implement the ‘re-boarding within 15 minutes’ policy.
“If we can’t plant a flag now, it’s over: ‘fully mortgaged home’ choice”···Half of this year’s Seoul apartment buyers are ‘30-somethings’
“I didn’t buy a home because I wanted one” Prices are jumping by 100 million KRW in just a few months…“If you don’t buy, it will get more expensive” The 30-something vote also wavered…“Start by changing the supply signals” Office worker Mr. Kim (35) still had a year left before his wedding, but he recently rushed to buy a home. In April, he purchased a relatively new apartment in Eunpyeong-gu, Seoul, in the 900 million KRW range. He borrowed up to the mortgage limit of 600 million KRW.
Flights to Shanghai·Guangzhou will increase… Korea·China traffic rights to add 70 weekly frequencies for the first time in seven years
Flights between Korea and China will increase by 70 per week. This will make it possible to add services on popular routes such as Incheon-Shanghai·Guangzhou, and routes to China from regional airports are also expected to expand. The Ministry of Land, Infrastructure and Transport announced on the 4th that, at the Korea·China aviation talks held in Seoul on the 27∼28 of last month, the two countries agreed to increase traffic rights by 70 weekly frequencies.
Kakao union “Four-hour partial strike on the 10th”
The Kakao union announced on the 1st that it will carry out a four-hour partial strike on the 10th of this month. On the same day, the Kakao Chapter of the National Chemical-Fiber-Food Industry Workers’ Union issued a statement outlining its demands and the strike schedule.
From Yongsan land to the ‘Present Arms’ and ‘missing rebar’ disputes, did the feud between the Ministry of Land, Infrastructure and Transport and the Seoul Metropolitan Government exacerbate the ‘reporting omission’ affair
A struggle for primacy over development rights and permitting authority Different parties lead each institution, deepening the conflict Builders: “Which tune should we follow?” Having clashed repeatedly over the reshaping of Gwanghwamun Square, development in Yongsan, and the redevelopment of the Sewoon district, the Ministry of Land, Infrastructure and Transport and the Seoul Metropolitan Government are now facing off head-on over the failure to report missing rebar in the construction of...
“Oops, not here” You won’t be charged even if you take the wrong expressway exit···Basic toll waived if you re-enter within 15 minutes
Ministry of Land, Infrastructure and Transport announces toll relief for mistaken exits To take effect in October···applies up to three times per year Even if an expressway user mistakenly exits at the wrong ramp, if they re-enter through the same tollgate within 15 minutes, the basic portion of the toll already paid will be waived.
Ministry of Land, Infrastructure and Transport raises fuel price-linked subsidy by 53%… Subsidies paid for diesel up to 2,100 won
On the 12th, the Ministry of Land, Infrastructure and Transport announced it would raise by 53% the cap on the diesel fuel price-linked subsidy paid to bus·freight transport operators, from a maximum of 183 won per liter(ℓ) to 280 won. As early as the end of this month, operators will be able to receive subsidies for diesel priced up to 2,100 won per liter.
The number of jeonse scam victims has surpassed 38,000... LH purchases 8,357 affected units
The number of jeonse scam victims recognized by the government has surpassed 38,000. The Ministry of Land, Infrastructure and Transport announced on the 6th that, since its launch in June 2023, the Jeonse Scam Victim Support Committee has held its 100th meeting, and that the total number of cases recognized as jeonse scam victims to date has reached 38,503.
“Please lower the officially assessed value of our home” Highest number of submissions in five years…Fallout from surging Seoul home prices
Reflecting the opinions, nationwide officially assessed values rose an average of 9.13% More than 10,000 submissions asking the government to lower this year's officially assessed values for multi-unit housing were received. With apartment prices in the greater Seoul area having risen sharply last year, this is the largest number of submissions in five years.
‘Lee Hye-hoon Prevention Act’ introduced… Dependent-family criteria for housing subscriptions for adult children tightened from 1→3 years
The government will tighten the criteria for recognizing children aged 30 or older as dependents in housing subscription applications from the current one year to three years. Prompted by allegations of fraudulent subscription involving former lawmaker Lee Hye-hoon, the measure aims to block tricks such as sham address transfers.
At the brink between the U.S. and Iran, the ‘Hormuz hostage drama’who will hold out longer?
Dot (facts): A U.S. counterstrike, a Hormuz ‘reverse blockade’ Line (contexts): The U.S. aims to squeeze Iran’s ‘cash lifeline’ Plane (perspectives): Can the U.S. counteroffensive succeed? Gasoline prices are on the verge of breaking 2,000 won per ℓ. According to Opinet, the oil price information system of the Korea National Oil Corporation, yesterday (the 14th) the nationwide average gasoline price at filling stations was 1996.2 won per ℓ, up 1.3 won from the previous day.
Malatang Is Good, but I Dislike China [Dot-Line-Plane]
Dot (facts): Four out of five say "China is unfavorable" Line (contexts): Anti-China sentimentwhen did it begin? Plane (perspectives): Is the 'anti-China' that emerged after martial law somewhat different? Have you ever heard the term 'Hwa-Jjang-Jo'? This bizarre slur, made from the initial syllables of Hwagyo (ethnic Chinese), Jjanggae (a derogatory term), and Joseonjok, is said to have suddenly spread in our society after the martial-law political crisis.
Will the ‘Coupang Republic’ that grinds down workers and suppliers be sustainable?
Point (facts): the ‘lowest prices’ squeezed out of suppliers Line (contexts): a delivery speed race that consumes workers Plane (perspectives): left unchecked, it becomes the industry ‘standard’ Even after an incident that exposed the personal data of 33.7 million customersthe worst on recordthere has not yet been a large-scale ‘talpang’ (quitting Coupang) phenomenon.
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