AJP Asia Intelligence Agency

AI Pick

Oh Se-hoon Proposes 1.2-Fold Increase in Redevelopment Floor Area Ratio Oh Se-hoon Proposes 1.2-Fold Increase in Redevelopment Floor Area Ratio

The Seoul city government projects that if the floor area ratio regulations for redevelopment projects are relaxed by 1.2 times, the number of new housing units in the city could increase from 87,000 to 130,000 by 2031. Seoul Mayor Oh Se-hoon announced on August 26, following a second meeting with Minister of Land, Infrastructure and Transport Kim Yoon-deok, that the ministry has agreed to positively consider the proposal to relax the redevelopment floor area ratio. Previously, the city had sugg

Seoul to Offer Free School Commute Notification Service for 320,000 Elementary Students Seoul to Offer Free School Commute Notification Service for 320,000 Elementary Students

Starting in September, a free 'commute notification service' will be implemented for all elementary school students in Seoul. This service, which previously varied by school and required parents to pay fees, will now be expanded into a universal public safety net covering all grades in the city’s elementary schools.The Seoul Metropolitan Office of Education announced on August 26 that it will fully support the commute notification service for approximately 320,000 students across 607 public and

Household Loan Rates Rise: July Mortgage Rates Hit 4.48%, Credit Loans Near 6% Household Loan Rates Rise: July Mortgage Rates Hit 4.48%, Credit Loans Near 6%

Mortgage rates have increased for the third consecutive month, while deposit rates have risen for four months, reaching 3.2%.According to the Bank of Korea's 'Weighted Average Interest Rate' statistics released on August 26, the weighted average mortgage rate for new loans at deposit banks in July was 4.48%, up 0.12 percentage points from the previous month. This marks the highest level since November 2023.The overall household loan rate rose to 4.64%, an increase of 0.14 percentage points. The

Duo Fined $3.45 Million for False Advertising Claims on Professional Members Duo Fined $3.45 Million for False Advertising Claims on Professional Members

A marriage information company, Duo, has faced sanctions from fair trade authorities for advertising that it holds the largest number of professional and prestigious university members without objective evidence.The Fair Trade Commission announced on August 26 that it has issued a corrective order and a public announcement regarding Duo's false and exaggerated advertising practices, imposing a fine of 345 million won (approximately $3.45 million).According to the commission, Duo used phrases suc

Births Exceed 140,000 in First Half of 2026, Driven by Mothers in Their 30s Births Exceed 140,000 in First Half of 2026, Driven by Mothers in Their 30s

In the first half of 2026, the number of births surpassed 140,000, marking the largest increase on record, driven by a rise in mothers in their 30s. However, the overall population has experienced a natural decline due to aging.According to the National Data Agency's population trends report for June 2026, the cumulative number of births from January to June reached 145,804, a 15.4% increase compared to the previous year. This marks the ninth consecutive quarter of rising birth numbers since the

Birth Rate Increases for Second Consecutive Year as Total Fertility Rate Reaches 0.8 Birth Rate Increases for Second Consecutive Year as Total Fertility Rate Reaches 0.8

The number of births has increased for the second consecutive year, with the total fertility rate rising to 0.8. Notably, the birth rate of firstborns has surged, driving the overall increase in births. Changes in birth patterns, including a rise in births outside of marriage and multiple births, have also been observed.According to the '2025 Birth Statistics' released by the National Data Agency on August 26, 2026, the number of births last year reached 254,300, an increase of 16,000 (6.7%) fro

Parties Delay Vote on Yongsan Park Special Law Amendment Parties Delay Vote on Yongsan Park Special Law Amendment

Parties negotiated to pass an amendment to the Yongsan Park Special Law, which supports the government's real estate supply measures, ahead of the afternoon session of the National Assembly on the 26th. However, due to existing differences, the vote on the amendment was postponed. Additionally, a resolution calling for the expulsion of Lee Jin-sook from the People Power Party is expected to be presented and processed under the leadership of the Democratic Party.Chun Jun-ho, the Democratic Party'

TikToks Impact on K-Culture Projected to Generate 40.6 Trillion Won by 2030 TikTok's Impact on K-Culture Projected to Generate 40.6 Trillion Won by 2030

TikTok's contribution to K-Culture is expected to generate approximately 40.64 trillion won by 2030, according to a new report.On August 26, TikTok held a press conference titled 'K-Culture on TikTok' at the Ellyena Hotel in Gangnam, Seoul, where it unveiled the report 'K-Culture on TikTok: Driving Global Economic Impact,' conducted in collaboration with global management consulting firm Kearney.The report indicates that the interest and engagement of global users translate into increased sales,

Kim Yoon-deok: Yongsan Park Housing Supply Requires Public Discourse and Legal Revisions Kim Yoon-deok: Yongsan Park Housing Supply Requires Public Discourse and Legal Revisions

The issue of housing supply at Yongsan Park appears to be entering a prolonged phase. While the government is reviewing plans for housing supply at Yongsan Park, there are numerous hurdles to overcome, including public discourse, legal amendments, and collaboration with local governments such as Seoul and Yongsan.After meeting with Seoul Mayor Oh Se-hoon on the 26th, Kim Yoon-deok, Minister of Land, Infrastructure and Transport, told reporters that the first step is to undergo a public discourse

Muan County Social Welfare Association Hosts Happiness Recharge Event for Social Workers Muan County Social Welfare Association Hosts 'Happiness Recharge' Event for Social Workers

The Muan County Social Welfare Association is supporting social workers on the front lines of community welfare by providing opportunities for rest and recharge, aiming to create a healthier welfare environment. On August 25, the association held the '2026 Muan County Social Workers Happiness Recharge Program – A Happy Day with Movies' at the Muan Small Cinema, targeting its affiliated social workers. This program was designed to offer cultural and leisure activities to social workers who are ex