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Seoul issued its first heatwave warning of the year on July 7th, marking an 18-day earlier onset compared to last year's "historically worst heat" period (July 25th). With this early heatwave warning and the end of the monsoon season, this summer's heat is expected to be unusually prolonged. Heatwave Warning Status According to the Korea Meteorological Administration, the heatwave advisory issued at 10 AM on July 7th for Seoul and the metropolitan area, including regions west of the Baekdu-daegan mountain range, was upgraded to a heatwave warning. A heatwave warning is the highest level of heat advisory, issued when the maximum apparent temperature exceeds 35°C for two or more consecutive days or when significant heat-related damage is expected. Seoul's maximum temperature is forecast to reach 36°C on July 8th and 9th, with apparent temperatures expected to be even higher. Suffocating heat that makes breathing difficult even while stationary is expected to ...

A devastating accident occurred in Seoul on July 7 when a teenage girl fell from the 13th floor of an apartment building, killing herself and injuring four passersby, including a mother and daughter who were walking below. The incident has shocked the local community and raised serious questions about apartment safety management and access control measures. Incident Details and Scene Description The accident took place at approximately 3:30 PM in an apartment complex in Gangseo District, Seoul. The victim, identified only as Ms. A and believed to be in her late teens, fell from the 13th floor and struck several pedestrians walking on the pathway below the building. Among the injured were a woman in her 40s and her teenage daughter, who suffered the most severe injuries from the impact. Both were immediately transported to nearby hospitals for emergency treatment, along with two other individuals who sustained minor injuries from debris and the chaos that followed. Witnesses ...

Seoul meteorological authorities issued the city's first heat wave warning of 2025 on July 7, with temperatures expected to soar to 36°C (97°F) on Tuesday. The extreme weather has prompted emergency health measures as heat-related illnesses surge across the metropolitan area, marking the beginning of what experts predict could be an exceptionally challenging summer season. Meteorological Conditions and Forecast According to the Korea Meteorological Administration, the heat wave warning will take effect from July 8, with maximum temperatures in Seoul expected to reach 36°C. This marks the first such warning issued for the capital this year, arriving somewhat later than in previous years but with potentially greater intensity. The persistent high-pressure system from the North Pacific continues to dominate the Korean Peninsula, creating stable atmospheric conditions that trap heat and prevent cooling. Urban heat island effects in downtown Seoul are expected to make the perce...

Immediate Market Impact of New Restrictions One week after the Lee Jae-myung administration implemented its 600 million won cap on housing mortgage loans to stabilize Seoul property prices, the real estate market is experiencing significant disruption. With purchase cancellations and contract withdrawals surging, experts are noting both positive stabilization effects and concerning market contraction. The June 27 real estate measures, centered on the 600 million won mortgage cap, represent ultra-strong regulations that limit total loan amounts regardless of income or property value. This policy targets the top 10% of borrowers and is central to the government's plan to reduce annual household debt growth by 25% from the projected 50 trillion won increase. Given that Seoul's average apartment price stands at 1.4 billion won, the 600 million won restriction effectively limits market participation to buyers with substantial personal capital. Investors...

Paradoxical Effects of Loan Restrictions Despite the South Korean government's strictest real estate loan regulations, Seoul apartment prices continue their upward trajectory. The combination of mortgage loan limits exceeding 600 million won and third-phase DSR (Debt Service Ratio) regulations has dramatically reduced transaction volumes, but paradoxically created upward pressure on housing prices due to property shortages. Regulatory Measures and Market Response The government's super-strong real estate measures announced on June 27th aimed to control housing prices in Seoul and the greater metropolitan area by limiting maximum mortgage loans to 600 million won. Combined with the implementation of third-phase DSR regulations, purchasing homes through loans has become significantly more difficult. However, these powerful regulations are producing paradoxical results. Despite property owners in Han River belt areas reducing asking prices by hundreds of millions of won,...

Largest Financial Industry Recruitment Event Returns The 2025 Korean Financial Sector Joint Recruitment Fair, the industry's largest hiring event, will take place August 20-21 at Seoul's Dongdaemun Design Plaza (DDP). This marks the ninth edition of the fair, which has been connecting financial companies with job seekers since 2017. According to the Financial Services Commission announcement on July 1st, 77 financial companies have expressed participation intentions for this year's event. Registration for job seekers will open on July 2nd through the fair's official website. The event represents a comprehensive opportunity for young professionals seeking careers in Korea's dynamic financial sector, spanning traditional banking to cutting-edge fintech innovations. Comprehensive Financial Sector Participation This year's fair features broad representation across the financial industry, including 14 bank...

South Korea's government has implemented sweeping real estate loan restrictions in late June 2025, sending shockwaves through the housing market as authorities attempt to cool soaring property prices. The comprehensive regulatory package represents one of the most aggressive interventions in the housing sector in recent years, but critics question whether these measures will achieve their intended goals or exacerbate existing problems. The most significant change involves a dramatic reduction in the Didemtol loan ceiling, dropping from 250 million won to 200 million won. This government-backed home loan program, designed to help ordinary citizens purchase their first homes, has been a cornerstone of Korea's housing policy for working families. The reduction comes at a particularly challenging time, as Seoul property prices continue reaching record highs weekly. Perhaps most controversially, the restrictions have extended to newborn special loa...

Seoul Apartment Prices Soar to 6-Year High Seoul apartment prices have shown consecutive rises, with weekly trading prices in the third week of June recording the largest increase in 6 years and 9 months. According to the Korea Real Estate Board, Seoul apartment trading prices rose 0.36% compared to the previous week, marking a new turning point in the real estate market. Background of Seoul Housing Price Surge In response to the housing price surge in Seoul, the Financial Services Commission is taking emergency measures by introducing DSR (Debt Service Ratio) for jeonse loans and policy mortgages. This is interpreted as a preemptive measure to prevent real estate market overheating and ensure financial stability. Particularly, not only Gangnam's three districts but also areas like Mapo-gu and Seongdong-gu in the 'Han River Belt' are showing increases, expanding the areas experiencing price rises. The upward trend is spreading to Seou...