AJP Asia Intelligence Agency

AI Pick

Taiwan to Distribute Cash Payments of NT$10,000 to Citizens Next Year Taiwan to Distribute Cash Payments of NT$10,000 to Citizens Next Year

The Taiwanese government is planning to distribute cash payments of NT$10,000 (approximately $320) to each citizen next year. This initiative aims to share the benefits of rapid economic growth driven by the artificial intelligence (AI) and semiconductor industries.According to Yonhap News on August 18, President Lai Ching-te announced this plan after receiving a report on the '2027 Central Government Budget Proposal' from the Executive Yuan the previous day. President Lai explained that the eco

Damyang Seniors Create Their Own Film Damyang Seniors Create Their Own Film

Seniors in Damyang County are making their own film, drawing attention.The Damyang Cultural Foundation in Gwangju announced on August 18 that it will run a senior arts education program called 'Damyang Love Youth' from August 25 to November 3.This program allows participants aged 65 and older to use video media to document their lives and stories from their communities.It will be held every Tuesday over a total of 10 sessions.At the Bongsan Cultural Rest Area, seniors will participate in the ent

High Demand for 3rd New Town Housing in Goyang Raises Questions About Future Supply High Demand for 3rd New Town Housing in Goyang Raises Questions About Future Supply

Thousands of applicants flocked to the main application for the 3rd New Town housing, confirming the strong demand from prospective homeowners in the metropolitan area despite rising prices and some pre-application winners opting out. The challenge now lies in the next steps, as there are currently no specific dates set for additional public housing applications following the Goyang Changneung S-3 and S-4 blocks.According to the Korea Land and Housing Corporation (LH), the winners for the Goyang

Na Kyung-kyun Announces Second Supply of Saemangeum Smart Waterfront City Next Month Na Kyung-kyun Announces Second Supply of Saemangeum Smart Waterfront City Next Month

Saemangeum Development Corporation will supply 45 plots of single-family housing land in the Saemangeum 'Smart Waterfront City' next month. Following a successful first sale last year, which sold out within a month, the corporation aims to accelerate the development of residential conditions in the waterfront city through this second offering.The corporation plans to invest 826 billion won in the establishment of foreign educational institutions, with the goal of opening by 2030. Additionally, i

Gwangmyeong Mayor Park Seung-won Prioritizes Citizen Safety in 2026 Eulji Exercise Gwangmyeong Mayor Park Seung-won Prioritizes Citizen Safety in 2026 Eulji Exercise

Park Seung-won, the mayor of Gwangmyeong, emphasized on August 18 that "the safety of citizens is the top priority" in relation to the 2026 Eulji exercise. During a situation report meeting held at the city hall's emergency management facility, Mayor Park stated, "We will thoroughly review and enhance our response system to ensure that this exercise can effectively protect citizens in real crisis situations." This year's training focuses on improving response capabilities to complex crisis

Labor Ministry Initiates Discussions on Implementing ILO Platform Labor Convention Labor Ministry Initiates Discussions on Implementing ILO Platform Labor Convention

The government is set to begin discussions on revising laws and regulations to implement the International Labour Organization (ILO) Platform Labor Convention in a manner suited to domestic realities.On August 18, the Ministry of Employment and Labor held a forum titled 'The Significance of the ILO Platform Labor Convention and Future Tasks' at the Bank Hall in Seoul. The forum aimed to explore the implications of the 'Convention on Quality Jobs in the Platform Economy,' adopted by the ILO in Ju

Financial Supervisory Service to Hire 95 New Employees Next Year Financial Supervisory Service to Hire 95 New Employees Next Year

The Financial Supervisory Service (FSS) will hire 95 new comprehensive staff members (Grade 5) through a public competition next year. The recruitment will cover seven fields, including management, law, economics, and information technology (IT).On August 18, the FSS announced the start of the application process for the 2027 recruitment of new comprehensive staff members (Grade 5).The positions available are as follows: 34 in management, 20 in law, 17 in economics, 17 in IT, 4 in statistics, 2

Government Considers Large Youth Housing Complex in Yongsan Park Government Considers Large Youth Housing Complex in Yongsan Park

The government is exploring plans to develop a large youth rental housing complex on approximately 300,000 square meters of the Yongsan Children's Garden in Seoul. As a state-owned site, it does not require land acquisition, and its urban accessibility is excellent. Industry estimates suggest that building high-density small housing units could provide up to 20,000 homes.While the proposal sounds appealing, it is important to note that state-owned land is not free. Instead of paying for land acq

July COFIX Rises 0.13% as Variable Mortgage Rates Increase for Fourth Month July COFIX Rises 0.13% as Variable Mortgage Rates Increase for Fourth Month

The COFIX (Cost of Funds Index), which serves as the benchmark for variable-rate mortgage loans, has risen for the fourth consecutive month. As banks face higher funding costs, variable mortgage rates are expected to increase as well.According to the Korea Federation of Banks on August 18, the COFIX for new transactions in July stands at 3.18%, up 0.13 percentage points from the previous month’s 3.05%.This marks the highest level since December 2024 (3.22%) and reflects a continuous upward trend

Justice Minister Jeong Seong-ho Resigns, Citing Completion of Prosecutorial Reform Legislation Justice Minister Jeong Seong-ho Resigns, Citing Completion of Prosecutorial Reform Legislation

Jeong Seong-ho, the Minister of Justice, who has expressed concerns over key issues surrounding prosecutorial reform, has officially submitted his resignation.According to legal sources on August 18, Jeong submitted his resignation to the Blue House and the Ministry of Personnel Management in the afternoon.In his resignation letter, Jeong cited health reasons, including sleep disorders, and stated that "the major legislation related to prosecutorial reform has been completed." He also expressed