South Korea

"1억 넘게 날렸어요"…서울 아파트 계약 해제율 5년래 최대

Hankyung | Local Language | News | Dec. 1, 2025 | UndeterminedReal Estate

In 2025, the cancellation rate of apartment purchase contracts in Seoul reached its highest level since data began being tracked in 2020. Out of 75,339 apartment sales transactions reported through November, 5,598 contracts were canceled, representing 7.4% of all contracts. The total value of these canceled contracts is approximately 7.66 trillion won, with an average contract price of about 1.37 billion won. If a 10% penalty on cancellations is assumed, losses from cancellation fees would amount to roughly 766 billion won in total, or about 137 million won per canceled contract.

The cancellation rate has risen in correlation with increased market volatility driven by repeated regulatory changes. After averaging 3.8% in 2020 and peaking at 5.9% in 2022 during a period of soaring policy rates and transaction freezes, the rate dropped to around 4.3-4.4% in 2023 and 2024. However, in 2025, a sequence of policy actions including alterations in land transaction permit zones, stricter loan restrictions in June, supply control measures in September, and expanded regulated areas in October have intensified market instability and driven cancellation rates higher.

Monthly cancellation rates surged after March 2025, following the Seoul city government's re-designation of land transaction permit zones, including key districts like Gangnam and Yongsan. Rates climbed from 8.3% in March to a peak of 10.6% in June, coinciding with tightened financing regulations, and remained above 10% in July. October and November saw lower preliminary rates (around 2.5% and 1%), but these numbers are expected to rise as cancellations continue to be reported.

Geographically, Seongdong-gu experienced the highest cancellation rate at 10.2%, followed closely by Yongsan-gu (10.1%) and Jung-gu (9.8%). Other districts with high cancellation rates included Jungnang-gu, Seodaemun-gu, Gangdong-gu, and Gangnam-gu, all ranging from 8.6% to 9.3%. Conversely, Songpa-gu had the lowest cancellation rate at 5.1%, with nearby districts like Gwanak-gu and Gangseo-gu also recording relatively low cancellation rates.

There are concerns that some canceled contracts may be false reports intended to artificially inflate prices amid the volatile market conditions. This practice could exacerbate price fluctuations and complicate market stability.

누리호 4차 발사 성공, 韓 민간 우주개발 시대 활짝 [K-뉴스페이스·上]

Newsis | Local Language | News | Dec. 1, 2025 | UndeterminedTech Development/Adoption

The Korean launch vehicle Nuriho successfully completed its fourth flight on November 27, 2025, marking the first time a vehicle manufactured and assembled entirely by the private sector, specifically Hanwha Aerospace, carried out a nominal mission. This launch, conducted at night to meet specific orbital conditions, represents a significant milestone in Korea's transition from government-led to private-sector-led space development. Hanwha’s role expanded not only to vehicle manufacturing but also to participate in launch preparations alongside the Korea Aerospace Research Institute (KARI), which still led launch operations.

The government plans the fifth and sixth Nuriho launches in 2026 and 2027, respectively, as critical tests to verify the stability of private-sector-led launch operations. From the fifth launch onward, Hanwha’s involvement will increase, including expanded personnel presence in key launch control centers, with the expectation that by the sixth launch, Hanwha will handle most operations except for mission director and launch operations director roles. This gradual handover is designed to confirm the feasibility of a privately centered launch system through repeated successful launches.

Concerns remain about a potential gap in launch activity following the sixth launch in 2027, which could disrupt the emerging private-sector ecosystem. The government is working to secure funding for a seventh launch planned for 2028 under the ‘Nuriho Heritage’ project, intended to cover the gap until a next-generation launch vehicle is tested in 2031. However, this project faces delays due to ongoing preliminary feasibility study requirements, raising fears of another launch hiatus. Such interruptions risk weakening industry expertise, supply chains, and operational continuity, as experienced during the 2.5-year gap between the third and fourth launches.

To prevent this, the government intends to incorporate the seventh launch budget into the next fiscal year and aims to maintain annual launches from the eighth launch onward. Experts emphasize that sustaining the private transition requires continuous launch activity to maintain personnel proficiency, industry networks, and operational data. The future role and funding structure for Nuriho beyond the initial program phase remain key to securing Korea’s private space development momentum.

Joongang Ilbo | English | News | Dec. 1, 2025 | North Korea

North Korean leader Kim Jong-un attended a ceremony commemorating the 80th anniversary of the Korean People's Army Air Force on November 28, 2025, at Kalma Airport, where he pledged to bestow new strategic military assets and assign a "new important duty" to the air force. However, he did not reveal specific details about the new assets.

Kim emphasized the air force's crucial role in North Korea's nuclear deterrent strategy and its responsibility to counter espionage and military provocations threatening the nation's sovereign airspace. This announcement aligns with North Korea's ongoing efforts to modernize its conventional military and enhance its aerial combat capabilities, following recent developments such as live-fire air-to-air drills and the introduction of an airborne early warning and control aircraft system earlier in 2025.

The event also featured Kim's daughter, Ju-ae, marking her first public appearance since accompanying him to China in September. During the celebrations, Kim observed an air force demonstration flight, attended an art performance, and awarded the Order of Kim Jong Il, the highest national honor, to the air force.