How Many Years of Salary Does It Take to Buy an Apartment in Seoul? The Reality of Homeownership Dreams

As the number of households without their own homes and living in rental properties approaches 10 million, the dream of homeownership is becoming increasingly out of reach for many low- and middle-income families. In particular, it has been found that in Seoul, one would need to save their entire salary for about 14 years without spending a single won to afford a home. On November 16, the Ministry of Land, Infrastructure and Transport released the results of the "2024 Housing Survey," which involved in-person interviews with a sample of 61,000 households nationwide in the second half of last year. According to the survey, the median Price Income Ratio (PIR) for owner-occupied households in Seoul was 13.9. The PIR indicates the number of years it would take to purchase a home if one saved their entire salary. As of last year, this means it would take about 14 years of saving every penny of one's income to buy a home in Seoul. Following Seoul, the regions with the highest PIRs were Sejo

General

11.17 14:10

[Insight & Opinion] Korean Capital Market Trapped in the "Tragedy of the Commons"

Recently, the sharp rise in the won-dollar exchange rate has triggered warnings that "the won is weaker than the dollar, even though the dollar itself is relatively weak." In fact, while the dollar index has remained around the 100 mark, the exchange rate has surged to the 1,460 won per dollar range, fueling market anxiety. This surge in the exchange rate is not simply an issue of rising import prices or increased volatility in the foreign exchange market. If the high exchange rate becomes entrenched, it poses structural risks such as weakening the competitiveness of Korean industries, triggering an outflow of foreign capital, and reducing the capacity for domestic investment. Rather than focusing solely on defending the exchange rate in the short term, we need to fundamentally reconsider the flow of capital and the structure of investment. In this context, the overseas investment activities of the National Pension Service (NPS) warrant close attention. As of the end of August 2025, th

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11.17 13:56

Chungnam Economic Promotion Agency Reveals $700 Million Export Achievements with 944 Companies Expanding Overseas

The Chungnam Economic Promotion Agency will hold the '2025 Overseas Market Development Delegation Performance Sharing Event' and announce the achievements of its overseas market development delegation project, which supported 944 companies over the past three years and led to export contracts worth 700 million dollars. The agency announced on the 17th that it will host the '2025 Overseas Market Development Delegation Performance Sharing Event' at Asan Divine Valley on the 18th. This event has been organized to share the results of the 2023?2025 overseas market development delegation project, promoted with the support of Chungcheongnam-do Province, with local companies and related organizations. Over the past three years, the agency dispatched overseas market development delegations to 16 countries across the Americas, Europe, and Asia, supporting 944 small and medium-sized enterprises in the province. During this period, a total of 7,857 consultations with overseas buyers were held, re

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11.17 12:37

Regional Economic Gap Widens: Service Sector Dominates in Metropolitan Area, Manufacturing Dependence Deepens in Non-Metropolitan Regions

The trend of industrial imbalance between regions continues. While the Seoul metropolitan area is experiencing growth driven by the service sector, non-metropolitan regions are becoming increasingly dependent on manufacturing. According to the "Regional Economic Trends for the Third Quarter of 2025" released by the National Data Office on November 17, nationwide mining and manufacturing production increased by 5.8% in the third quarter compared to the same period last year. North Chungcheong Province (19.1%), Gyeonggi Province (15.9%), and Gwangju (14.6%) saw increases thanks to strong production in semiconductors, electronic components, and electrical equipment. In contrast, Seoul recorded a decrease of 8.6%. Although the rate of decline narrowed compared to the previous quarter (down 10.1%), the city still experienced negative growth. South Jeolla Province (down 5.4%) and Jeju (down 4.2%) also saw declines in mining and manufacturing production. Growth in the service sector became e

General

11.17 12:00

Uncertainty Over U.S. Auto Tariffs Resolved... Will the $700 Billion Export Target Gain Momentum?

Recently, with the announcement of the "Joint Fact Sheet" summarizing the results of tariff negotiations between South Korea and the United States, the export uncertainties for Korea's two major sectors?automobiles and semiconductors?have been resolved. For automobiles, retroactive application is possible as early as November 1, 2025, and semiconductors will be granted Most Favored Nation (MFN) status. This development is expected to give momentum to the government's annual export target of 700 billion dollars for this year. According to the Ministry of Trade, Industry and Energy on November 17, the cumulative export value from January to October this year reached 579.3 billion dollars, a 2.3% increase compared to the same period last year (566.1 billion dollars). This leaves 120.7 billion dollars to achieve the government's annual export target of 700 billion dollars. To meet this goal, monthly exports in both November and December need to exceed 60 billion dollars. The average month

General

11.17 11:11

Korea Childcare Promotion Institute and Samsung Welfare Foundation Establish Support System Through Early Childhood Development Support Pilot Project

The Korea Childcare Promotion Institute and the Samsung Welfare Foundation successfully concluded the "2025 Early Childhood Development Support Pilot Project" with the "Early Childhood Development Support Project Performance Report Meeting" held on October 22, 2025. This project, which began its pilot operation in March 2025, aimed to support the healthy growth and development of young children and to strengthen behavioral guidance capabilities in childcare settings. It was carried out in two areas: ▲ On-site support by child behavior specialists ▲ Support for developmental assessments and counseling for young children. The "On-site Support by Child Behavior Specialists" program involved child behavior specialists visiting daycare centers to provide customized guidance methods to both young children exhibiting maladaptive behaviors such as aggression, distractibility, and anxiety, and their homeroom teachers. Child behavior specialists are professionals trained through a systematic pro

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11.17 11:00

Namdong-gu Youth Dream Center Successfully Concludes Regional Youth Project "Namdong Daengdong Brand Finder"

On November 17, the Namdong-gu Youth Dream Center in Incheon announced the successful conclusion of the 2025 Regional Youth Specialization Project, "Namdong Daengdong Brand Finder." The Namdong-gu Youth Dream Center has been creating new changes by combining the creative ideas of young people with local culture. The "2025 Regional Youth Specialization Project - Namdong Daengdong Brand Finder," led by the Namdong-gu Youth Dream Center, has attracted attention as a "youth-led local branding model" in which young people directly utilize local resources to plan content and create brands. This project was organized by the Namdong-gu Youth Dream Center in collaboration with the Inha University Startup Support Group, Oz Interactive Co., Ltd., and Incheon Spectacle, with approximately 680 young people participating. Through branding education and mentoring, the participants directly planned and executed various projects, including the production of goods using local symbols, development of loc

General

11.17 09:55

"On a Tilted Playing Field, My Heart Felt Parched"... Minister Kim Jeong-Kwan Reveals Behind-the-Scenes of US-Korea Tariff Negotiations

"At first, I felt refreshed, but now there's a bit of bitterness." This was the reflection shared by Kim Jeong-Kag, Minister of Trade, Industry and Energy, who stood on the frontlines of the US-Korea tariff negotiations, during a radio interview on the 17th. He revealed that he met Howard Lutnick, US Secretary of Commerce, 30 times and exchanged more than 300 calls and text messages while leading the US-Korea tariff and investment package negotiations. He even said, "There were moments when my heart felt like it was drying up." He added, "Although I believe we gave everything we had, looking at the outcome, I also felt the limits of our national power on an uneven playing field." "Barely Passed... We Must Strengthen National Power"Minister Kim appeared on CBS Radio's "Kim Hyun-Jung's News Show" that morning and assessed the outcome of the negotiations as "barely passing." This comment came amid criticism from political circles, calling it an "empty fact sheet." He stated, "Just because

General

11.17 09:39

Chungnam Development Corporation Wins Korea Energy Awards for Leading Achievements in Renewable Energy

How Many Years of Salary Does It Take to Buy an Apartment in Seoul? The Reality of Homeownership Dreams

[Insight & Opinion] Korean Capital Market Trapped in the "Tragedy of the Commons"

Chungnam Economic Promotion Agency Reveals $700 Million Export Achievements with 944 Companies Expanding Overseas

Regional Economic Gap Widens: Service Sector Dominates in Metropolitan Area, Manufacturing Dependence Deepens in Non-Metropolitan Regions

Uncertainty Over U.S. Auto Tariffs Resolved... Will the $700 Billion Export Target Gain Momentum?

Korea Childcare Promotion Institute and Samsung Welfare Foundation Establish Support System Through Early Childhood Development Support Pilot Project

Namdong-gu Youth Dream Center Successfully Concludes Regional Youth Project "Namdong Daengdong Brand Finder"

"On a Tilted Playing Field, My Heart Felt Parched"... Minister Kim Jeong-Kwan Reveals Behind-the-Scenes of US-Korea Tariff Negotiations

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