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Articles by Yun Gi-eun
Park Hong-geun “President Lee requests preparation of support measures for vulnerable groups amid high interest rates using excess tax revenues”
Minister of Planning and Budget Park Hong-geun, regarding the burden on vulnerable groups from the prolonged period of high interest rates, said, “The President recently asked us to prepare additional supplementary measures, using excess tax revenues, for sectors and groups that will be hit by high interest rates, such as vulnerable borrowers and inclusive finance for low-income citizens.” At the National Assembly’s Finance, Economy and Planning Committee’s comprehensive audit of state...
‘Rice power’ gives way to self-development·YouTube···Young adults see mealtime shrink by 7 minutes over 10 years
Lee, an office worker who lives alone (38), logs into the ‘Baedal Minjok’ application every weekend to choose a ‘brunch’ menu. On weekdays, they either eat at restaurants, or prepare instant rice and ready-made meals.
Potential growth rate sees ‘reversal’ after 40 years···IMF projects two consecutive years of increases for Korea
The International Monetary Fund (IMF) projected that the potential growth rate for Korea will rise for two consecutive years, this year and next, for the first time in 40 years. Based on an analysis on the 18th of IMF data in ‘World Economic Outlook, October 2026’, the potential growth rate for Korea is estimated to increase from 1.94% last year to 2.14% this year and 2.20% next year. It shows a rebound of 0.20 percentage points this year, followed by an additional rise of 0.06 points next year.
At sea, a female diver; on land, a businesswoman···The head of the Guryongpo fishing village cooperative’s ‘When Life Gives You Tangerines’
Seong Jeong-hee, head of the Guryongpo fishing village cooperative in Guryongpo-eup, Pohang, North Gyeongsang Province (75), first plunged into the sea on impulse at age 34. After the salted-seafood distribution business she ran in Busan failed, she returned to her hometown of Guryongpo-eup. She came with her seven-year-old son and her six-year-old and two-year-old daughters. “There weren’t jobs that would take a woman with three children.
Joo Byung-gi “How many companies are there that can make pioneering decisions?”
Korea Fair Trade Commission Chair Joo Byung-gi said, “For our companies to compete with global firms, managers need expertise and conviction and must be able to make pioneering decisions, but how many companies in Korea can make such decisions?” At the National Assembly’s National Policy Committee audit on the 12th, Joo described it as “a very serious problem” in response to a question from People Power Party lawmaker Choi Eun-seok.
I agree to the terms and conditions··· but I do not understand what they mean
‘attributable fault’ ‘concurrence’ and other difficult terms are used as-is ‘163 characters in a single sentence’ with no regard for readability Old wording is carried over as-is, and awkward translationese as well The law requires that they be ‘written so they are easy to understand’ There are no cases of sanctions solely because the wording is difficult When we sign up for a portal site, take out insurance, or apply for a credit card, we often click the ‘I agree to the terms’ button without...
This year's tax revenue will exceed expectations by 63.2 trillion won... driven by a semiconductor boom
Reflecting the semiconductor cycle and other factors, the government's revised estimate puts this year's excess tax revenue at 63.2 trillion won. Accordingly, the size of the Future Response Fund (Future Fund), which is to be financed with the excess revenue, is now expected to exceed the previously projected 162.3 trillion won. The government is deliberating how much of the excess revenue to allocate to the Future Fund.
Discarded nets and pots under the sea ‘piled high’··· 456.6 billion KRW in ghost fishing losses
Last year, 3,196 tons of discarded fishing gear were retrieved at sea, a 20% increase from a year earlier. Nets and pots left in the ocean cause so-called ‘ghost fishing’ that traps and kills marine life and also raise the risk of vessel accidents. There are calls to overhaul budgets and staffing for the collection and recycling of discarded gear.
Semiconductors are hot while the wallets of ordinary households are empty···KDI “The AI investment-driven upturn has not reached households”
While South Korea's economy continues its growth trajectory centered on investment in artificial intelligence (AI), assessments by research institutes have repeatedly found that the improvement in conditions has not sufficiently spread to household income and consumption. In short, the warmth from semiconductors is not spreading to households and domestic demand.
Creation of a 162 trillion won ‘dinosaur fund’···building an ultra-large fiscal reservoir
Starting next year, the government will establish a 162.3 trillion won Future Response Fund (the Future Fund). This is an ultra-large amount equivalent to one-fifth of the total budget for next year of 820.9 trillion won. The government plans to set aside tax revenue increases driven by the semiconductor boom and other factors into the fund to invest in easing ‘K-shaped polarization’ and fostering advanced industries, and to use it as a ‘fiscal reservoir’ to prepare for future revenue declines.
‘Get married, Duo’ betrayed···Exaggerated advertising of ‘the largest number of professionals and elite-university graduates in the industry’
The Korea Fair Trade Commission imposed a corrective order and a surcharge of 345 million KRW on Duo Info, a well-known domestic matchmaking company, on the grounds that it advertised the number of members who are professionals or graduates of elite universities as ‘the most in the industry’ without objective evidence.
KDI raises this year's economic growth forecast to 3.2%··· highest among projections by government agencies and international organizations
The state think tank Korea Development Institute (KDI) raised its forecast for South Korea's economic growth this year to 3.2%, an upward adjustment of 0.7 percentage points in three months. This is the highest among projections by government agencies and international organizations, reflecting a semiconductor boom that has driven a surge in exports and facility investment.
Major conglomerates add more profit-driven AI and semiconductor affiliates
Over three months, 75 affiliates added·79 removed South Korea's major conglomerates are actively moving to fold related firms into their groups by acquiring companies or establishing subsidiaries to strengthen competitiveness in new industries such as artificial intelligence (AI) and semiconductors. In contrast, they are streamlining non-core businesses to pursue ‘selection and concentration’.
Heatwave pushes ‘summer peak season’ spinach up 56% and young radish up 47% ··· fears of ‘heatflation’
Park Sun-ok (64), a farmer living in Seosan, South Chungcheong Province, says it is hard these days to head to the paddies even after 5 p.m., because temperatures far exceed 30 degrees. The woes of a neighboring cabbage farmer are even greater: despite soaking the fields due to the hot weather, cabbages are not growing.
No comprehensive real estate holding tax up to a market value of 2 billion won for a single home, regardless of occupancy
Reading the real estate tax overhaul in Q&A Assessed value threshold raised from ‘1.2 billion won → 1.4 billion won’… non-resident deduction ‘1.2 billion won → 900 million won’ For seniors who sell an apartment and move outside the capital region, capital gains tax will be halved next year For homes with a market value of 4.45 billion won or more, rates will be raised in stages from 1.3% to 2% Under the property tax overhaul announced by the government on the 3rd, the comprehensive real...
The same home but a 3.49 million won difference in the comprehensive real estate tax, why? A Q&A on changing real estate taxes
The real estate tax reform plan announced by the government on the 3rd will increase the comprehensive real estate tax for ultra high-priced, non-resident, and multiple-home owners, sharply reduce capital gains tax deductions, and limit the long-term holding special deduction to 1 billion won. For owners of two homes, the capital gains surtax is deferred, with only an additional 5 percentage points on the basic rate through next year.
Did diesel prices wobble···Korea Fair Trade Commission, begins deliberation on biofuel manufacturers over ‘collusion allegations’
The Korea Fair Trade Commission has initiated deliberation procedures against seven manufacturers that participated in biofuel price collusion. They are suspected of exploiting the mandatory renewable energy use framework for refiners and power generators to coordinate and divide volumes, and surcharges could exceed 200 million won.
National Tax Service Commissioner “The long-term holding special deduction gives greater benefits to high-priced homes, a regressive structural problem”…The three Gangnam districts and Yongsan account for 78.6% of deduction amounts
National Tax Service Commissioner Im Gwang-hyeon publicly criticized the long-term holding special deduction (LTSD) under the capital gains tax applied to one household with one home as a ‘regressive structure’ that grants larger benefits to higher-priced homes. It is unusual for the head of the National Tax Service to directly point out a structural problem in the tax system.
Even after graduation, half are ‘jobless for a year’···Youth employment worst since the global financial crisis
It takes 4 years and 5.7 months to graduate from college, the longest on record Leaves of absence also at an all-time high As the youth job market has frozen, the share of young people who have been unable to find work for more than a year after graduation has surged to its highest level since the 2009 global financial crisis. It now takes about 4 years and 6 months to finish university, the longest on record.
‘Yeosu Project No. 1’ to provide more than 700 billion KRW in support to the petrochemical sector···Naphtha imports duty-free
The government announced that, to support the petrochemical industry in crisis, it will provide a package of more than 700 billion KRW in loans and import insurance under the ‘Yeosu Project No. 1’. The plan is to integrate facilities among related companies, shift to higher value-added businesses, and drive structural improvement of the petrochemical sector.
Yoga·Pilates studios must give notice two weeks in advance of suspension·closure···First-ever introduction of standard terms
For the first time, standard terms have been introduced to prevent consumer harm such as being unable to receive refunds after a Yoga·Pilates studio closes or being charged excessive penalties for early termination. On the 20th, the Korea Fair Trade Commission announced that it had enacted the ‘Yoga·Pilates Standard Terms’. This is the first time standard terms have been established for the Yoga·Pilates sector.
“Likes people” dolphin ‘Anmogi’ that frequented the waters off Gangneung urgently rescued··· recovering after treatment for a 20㎝ wound
The Indo-Pacific bottlenose dolphin ‘Anmogi’, which followed people and became a ‘star’ of the waters off Gangneung, suffered a severe injury and was driven to the brink of death before being rescued and is now receiving treatment. The Ministry of Oceans and Fisheries announced on the 20th that Anmogi, rescued on the 15th, is receiving intensive care and has entered a stable condition.
Married young people who settle outside the capital region are more likely to have children and buy a home
It was found that the share of young couples who have children or secure their own home is higher when they settle outside the capital region. However, the ‘capital-region concentration’ phenomenon persisted, with 6 out of 10 married young couples still settling in the capital region. Among young women born since the 1980s, a marked ‘career interruption’ trend was also evident, quitting their jobs depending on where their husbands live after marriage.
‘Went to Korea Planning to Buy One Item, Ended Up With a Suitcase Full of Cosmetics’···Was It Foreigners Who Lifted Domestic Consumption?
Cosmetics consumption surged in May Foreign-customer sales at Olive Young up 44% in January-May Purchase-verification posts trending on foreign SNS, etc. Retail sales index ticked up, but spending on autos and more fell “I planned to buy just one thing in Seoul, but I ended up buying this much.” Recently, social media has seen a stream of videos by foreign tourists on trips to Korea spreading the cosmetics they bought all over their hotel beds.
‘$11.2 billion’ in semiconductor exports set another record…Overall exports also rose 53.9%
Buoyed by the semiconductor boom, exports in the early part of this month set yet another all-time high. According to the Korea Customs Service’s “Export-Import Performance for July 1~10” released on the 13th, exports for the period (on a preliminary customs-cleared basis) totaled $29.8 billion, up 53.9% from a year earlier. This surpassed the previous record for the same period in June ($28.6 billion) by about $1.2 billion, marking the highest export value on record.
Pretending to be reviews, pretending not to be ads··· Korea Fair Trade Commission issues corrective orders to Gangnam plastic surgery clinics over ‘backdoor ads’
Plastic surgery clinics located in the Gangnam and Seocho districts of Seoul were found to have provided monetary support to promotional models and, while concealing this, had them post positive surgery reviews online.
‘Domestic-brand clothing’ turn out to be ‘Made in China’···Korea Customs Service uncovers false·missing country-of-origin labeling on apparel worth 41.6 billion KRW
The Korea Customs Service uncovered 41.6 billion KRW worth of apparel sold with falsified or concealed country-of-origin information. On the 9th, the Korea Customs Service announced that it had detected origin-labeling violations worth 41.6 billion KRW at 193 companies.
Korea Fair Trade Commission approves Mirae Asset Consulting acquisition of Korbit exchange···circumventing separation-of-finance-and-virtual-assets regulation
The Korea Fair Trade Commission approved the acquisition of the virtual-asset exchange Korbit by Mirae Asset Consulting. This is the first time an affiliate of a financial group has acquired a virtual-asset exchange. On the 9th, the Korea Fair Trade Commission announced approval for Mirae Asset Consulting, an affiliate of Mirae Asset, to acquire 92.06% of Korbit for about 133.4 billion KRW. Mirae Asset Consulting is a non-financial affiliate whose revenue largely comes from hotel operations.
OECD “For Korean real estate, reduce the share of transaction taxes and raise the ratio of holding taxes”···recommends reducing the education grant ‘earmarking’
The Organisation for Economic Co-operation and Development (OECD) recommended reforms that would lower real estate transaction taxes while raising property holding taxes. It also pointed to the need for improvements to the structure of education budgets and the business inheritance deduction.
Korea Fair Trade Commission moves to allow small businesses to engage in ‘collusion’ to increase ‘weaker party’ bargaining power
The Korea Fair Trade Commission is pushing a plan to exempt from collusion rules cases where small enterprises·micro businesses form a group and, when negotiating with large companies, share terms of trade in advance. It has also decided not to apply the Fair Trade Act to collective actions by labor unions such as the cargo truckers union. The purpose is to strengthen ‘weaker party’ bargaining power, but concerns are being raised that allowing ‘collusion’ could lead to consumer price increases.
Three Korean Ships and 43 Korean Seafarers Stranded Again by U.S.-Iran Clashes
As U.S.-Iran military clashes continued, the remaining Korean-flagged ships in the Strait of Hormuz were held up again. Although there were no casualties and vessels had been leaving the strait one after another, the departure schedules of those remaining have again become uncertain. The Ministry of Oceans and Fisheries said that as of 9 a.m. on the 28th, three Korean-flagged vessels remained inside the Strait of Hormuz.
Four Korean Ships Transit Hormuz… Second Since the Truce
Ministry of Oceans and Fisheries “Supporting safe passage for the remaining 18 Korean-flagged ships” After the United States and Iran signed a truce memorandum of understanding (MOU), two Korean ships transited the Strait of Hormuz, followed by an additional four Korean ships.
MSCI Developed Markets Index Watchlist Inclusion Falls Through···Why?
MSCI Developed Markets (DM) Index inclusion for the Korean stock market has once again fallen through. In the 2026 annual market classification results released on the 23rd (local time), MSCI cited, among other factors, the still-limited convertibility of the won in the offshore foreign exchange market and did not place the Korean market on the Developed Markets index watchlist (watchlist).
‘Years under the burden of household labor’ Men 12 years, women 58 years···still a fivefold gap
A study found that women shoulder the burden of household labor for 58 years, whereas men do so for only 12 years. According to the ‘2024 National Time Transfer Accounts’, released by the Ministry of Data and Statistics on the 23rd, women's burden of household labor begins to rise in earnest at age 26 and continues until age 84. In contrast, men's contribution to housework increases from age 32 but, after age 44, shifts to being net recipients of care and household labor.
Government to clear 2.2 trillion won in non-performing loans at regional credit guarantee foundations by 2030
The government will clear 2.2 trillion won in non-performing loans held by regional credit guarantee foundations by 2030 and will also ease restrictions on new guarantees for small business owners who were unable to repay their debts.
Even if the Strait of Hormuz opens, about 2,000 ships are waiting···Normalization of domestic crude supply only around August
Twenty-four Korean-flagged vessels stuck…concerns over bottlenecks Normalization delayed by mines and insurance variables Recovery of crude supply slow due to production cuts and facility disruptions With the United States and Iran set to agree on the 19th (local time) to open the Strait of Hormuz for 60 days, expectations are rising that energy supplies will get some breathing room.
Kortis·IVE·aespa agencies all caught···Korea Fair Trade Commission uncovers unfair fan-club terms
The Korea Fair Trade Commission uncovered unfair clauses in entertainment companies paid fan-club memberships and issued corrective orders. On the 10th, the Korea Fair Trade Commission announced that after reviewing the terms and conditions of 24 operators (18 talent agencies and 6 fandom platforms), it confirmed unfair terms such as unjust refund restrictions and service-suspension rules and ordered corrections.
Korean crew disembarkations continue at the Strait of Hormuz···148 remain
On the 8th, the 100th day since the Strait of Hormuz was effectively shut down, one Korean crew member disembarked, reducing the number of Koreans on South Korean-flagged ships to 113. According to the Ministry of Oceans and Fisheries on the 9th, as of 6 p.m. the previous day, one Korean crew member disembarked from a South Korean-flagged vessel anchored inside the Strait of Hormuz. As a result, the number of Korean crew members aboard South Korean-flagged vessels decreased from 114 to 113.
Korea Fair Trade Commission Chair Joo Byung-ki “Is it blind faith that does not care even if an insurrection is staged?”···Controversy over criticism of local election results
Korea Fair Trade Commission Chair Joo Byung-ki is facing controversy after posting a public critique on social media about the high vote shares won by People Power Party candidates in some parts of Seoul in the June 3 local elections.
Even after importing from the United States·Thailand, egg prices have not been tamed···The government to make additional ‘Brazilian’ shipments
With egg prices continuing to soar, the government has decided to import additional Brazilian eggs. While expanding volumes of imported livestock products and offering discount support, it also plans to tighten enforcement against holiday-season lodging ‘price gouging’.
Head of the Ministry of Data and Statistics “Smartwatches·music streaming services to be added to the Consumer Price Index”
As consumer spending patterns change, items such as smartwatches and music streaming services will be added to the Consumer Price Index. On the 1st at Government Complex Sejong, Ahn Hyeong-jun, head of the Ministry of Data and Statistics, held a briefing to mark the ‘first anniversary of the People-Sovereign Government’ on key achievements and progress in the data・statistics field and announced plans to overhaul data management, including building AI-friendly data and releasing integrated data.
Requested an airline ticket refund but received only a ‘voucher’···Trip.com fined 10 million won
Also operated for about four years without filing a mail-order business notification Trip.com, which ranks first in number of domestic users among foreign travel-booking platforms, was fined a total of 10 million won for providing some airline ticket refunds only as vouchers and for failing to file a mail-order business notification.
Koo Yun-cheol “Seongnam housing site for 6,300 units to break ground in 2029, moved up by one year”
Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol said he would move up by one year the groundbreaking schedule for a housing site in Seongnam, Gyeonggi Province, to speed up housing supply.
Korea Fair Trade Commission chair “If evidence proves Coupang violated its ‘pledge not to involve relatives in management’, will file a criminal complaint”
Korea Fair Trade Commission Chair Joo Byung-gi announced plans to file a criminal complaint if evidence is confirmed that Coupang violated its ‘pledge not to involve relatives in management’. He also presented plans to expand the Korea Fair Trade Commission to target unfair practices by platform operators, large conglomerates, and monopolistic or oligopolistic businesses.
Gu Yoon-cheol “We will supply 66,000 purchase-based rental housing units, including officetels, in Seoul·Gyeonggi”
Amid the government move to expand the supply of non-apartment housing such as officetels, Deputy Prime Minister for Economic Affairs and Minister of Finance and Economy Gu Yoon-cheol announced that over the next two years the Seoul metropolitan area will see the supply of 90,000 purchase-based rental housing units in non-apartment categories.
One South Korean ship has exited the Strait of Hormuz, but··· ‘116’ South Korean crew members remain stranded
Since the Strait of Hormuz was effectively sealed, one South Korean ship that had been stranded has left the area, reducing the number of South Korean crew members on South Korean-flagged vessels remaining in the strait from 125 to 116. The Ministry of Oceans and Fisheries said that as of 7 a.m. on the 21st, with one South Korean-flagged vessel fewer inside the Strait of Hormuz, the number of South Korean crew on South Korean-flagged vessels had decreased by nine.
More imports of U.S.·Thai eggs: Will this rein in egg prices that have topped 7,000 won per tray
Office worker Kim Won-jin (56) lingered in front of the egg display at Emart in Mapo-gu, Seoul, on the 13th. The shelf in front of the price tag reading ‘White eggs, 30-count, 8,480 won’ was empty. All the eggs that seemed a bit cheaper had sold out, and only the most expensive animal-welfare fertilized eggs priced at 12,980 won remained. He did not put eggs in his cart that day.
NongHyup holds the ‘Nongsim Cheonsim’ National Participation Corps inauguration ceremony··· more than 600 volunteers take part
To bring new hope and vitality to rural communities, the NongHyup Central Federation held the ‘Nongsim Cheonsim National Participation Corps Inauguration Ceremony’ on the 12th. Held at NongHyup Anseong Farmland in Anseong, Gyeonggi Province, the ceremony drew more than 600 participants, including university students from across the country and volunteer groups of NongHyup executives and employees.
“Canceling paid memberships only by phone?”···Korea Fair Trade Commission orders corrections to unfair terms in the performing arts industry
The Korea Fair Trade Commission issued corrective orders for terms that allowed membership cancellations only by phone at Seoul Arts Center, Interpark, and others. Rules that excessively restricted refunds of annual fees were also deemed unfair practices. On the 6th, the Korea Fair Trade Commission announced that, after reviewing the paid membership terms of 19 companies (17 venues and 2 ticketing platforms), it had ordered corrections for nine types of unfair clauses.
Oil prices jump and financial markets weaken as the Strait of Hormuz turns into a powder keg again; fears of an economic downturn grow amid successive overlapping shocks
With military tensions in the Middle East flaring again following the accident involving a Korean ship in the Strait of Hormuz and Iran's attack on oil facilities in the United Arab Emirates (UAE), global financial markets are swinging. After the ceasefire, international oil prices, which had fallen below $100, have climbed back above $100, and U.S. Treasury yields have also surged.
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