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Policy & Public

Korea National Oil Corporation–Korea Gas Corporation Merger Proposed… Resource Development to Be ‘Maintained on aLimited

The government has announced a public-sector function reform plan to merge the Korea National Oil Corporation and the Korea Gas Corporation and establish an energy security system. The plan calls for oil stockpiling and limited oil exploration and development functions to be transferred to a proposed integrated entity tentatively called the Energy Resources Corporation, but the detailed scope of oil exploration and development, the merger timeline, and organizational changes have not yet been finalized.

9/6/2026Views 1

Policy & Public

Justice Ministry and Gender Equality Ministry Planned for Sejong Relocation… 350 Public Institutions and 109 Reduction A

The government plans to relocate central administrative agencies based in the Seoul metropolitan area to Sejong starting in the first half of 2027, naming the Ministry of Justice and the Ministry of Gender Equality and Family as priority institutions. Around 350 public institutions in the capital region are expected to begin relocating to regional areas from 2027, while the figure of 109 refers to the scale of functional reform and consolidation—not the number of institutions to be relocated. The final institutions, regions, and timelines will be determined after amendments to relocation plans are announced and officially notified before the fourth quarter of 2026.

9/3/2026Views 1

Policy & Public

Public Institution Relocation to Begin in 2027…Sejong Administrative Agencies to Move Sequentially in the First Half of

The government plans to relocate central administrative agencies remaining in the Seoul metropolitan area to Sejong sequentially starting in the first half of 2027. The second phase of public institution relocations will also be pursued in earnest from 2027. The Ministry of Justice and the Ministry of Gender Equality and Family were mentioned as priority candidates, but the full list of institutions and final schedules by agency should not be considered confirmed before the plan is announced in the fourth quarter of 2026.

9/3/2026Views 2

Public-license image of the National Pension Service headquarters building

Policy & Public

Foreign Nationals with ‘1 Month of Enrollment and 119 Months of Retroactive Contributions’: 3 Actual Cases, 1 Benefited

A Ministry of Health and Welfare census found three foreign nationals or overseas Koreans who had one month of enrollment and made 119 months of retroactive contributions. Only one, an overseas Korean who had continuously lived in Korea, was confirmed to be receiving an old-age pension. Since August 31, 2026, the National Pension Service has reviewed foreign nationals’ retroactive-contribution applications based on actual residence in Korea and entry-and-exit records.

9/2/2026Views 0

Public-license image showing the National Tax Service headquarters in Sejong, South Korea

Policy & Public

Total Declared Overseas Assets Reach KRW 111 Trillion; Overseas Stocks Hit Record KRW 61.3 Trillion

According to the National Tax Service, the combined declared amount of overseas financial accounts and foreign trusts reported by Korean residents and domestic corporations in 2026 totaled KRW 111 trillion. Declared overseas financial accounts amounted to KRW 107.1 trillion, including KRW 61.3 trillion in stocks—the highest figure on record.

9/2/2026Views 0

Public-license image from the Ministry of Finance and Economy

Policy & Public

183,000 Tons of Chuseok Essentials to Be Supplied… Up to 40% Off Agricultural and Livestock Products from September 3

The government plans to supply 183,000 tons of Chuseok essentials over the three weeks before the holiday, with discounts of up to 40% on agricultural and livestock products starting September 3 and up to 50% on major seafood products starting September 9. From September 16–20, shoppers at 300 traditional markets by sector will receive approximately 30% of their purchase amount back in Onnuri gift certificates. The maximum discount rates are caps subject to conditions by product and retailer.

9/2/2026Views 0

Policy & Public

Fiji’s 5% Tourism Services Tax Takes Effect September 1; Existing Bookings Excluded

Fiji’s Tourism Services Tax (TST) took effect at a 5% rate on September 1, 2026. It applies to eligible tourism services provided or consumed by businesses with annual turnover exceeding FJD 2 million. Bookings finalized by August 31 are excluded from TST, even if the services are provided afterward.

9/2/2026Views 0

Policy & Public

615 SCIA Applicants Withdraw; Final Applicant Count Set at 1,761, or 61.3% of Authorized Positions

Of the 2,376 applicants for special appointments to the Serious Crime Investigation Agency (SCIA), 615 withdrew, bringing the final applicant count to 1,761. This represents 61.3% of the agency’s 2,874 authorized positions. The government plans to proceed with additional special appointments alongside competitive career-based recruitment of external specialists.

9/2/2026Views 0

Policy & Public

2027 Budget Proposal: Marriage, Birth, and Child Benefits Couples Should Check

The 2027 government budget proposal includes plans to reorganize marriage support, child-rearing support, and the basic child allowance. However, it remains a government proposal pending National Assembly review and legislative amendments, and retroactive application to children born in January 2027 is still under consideration.

9/1/2026Views 0

Policy & Public

Three Universities Selected for First Package Under “Making 10 Seoul National Universities”

The Ministry of Education selected Pusan National University, Chonnam National University, and Chungnam National University as the first universities to receive package support under the 2026 “Making 10 Seoul National Universities” initiative. Support is expected to continue through 2030, with this year’s package-based support reported at approximately KRW 70 billion per university. Additional funding compared with the previous year, including support for shared universities, is separately estimated at around KRW 100 billion per university.

9/1/2026Views 0

Public-domain photograph related to the South Korean government

Policy & Public

Public-sector wages to rise 3.9%… 2027 entry-level Grade 9 pay to reach ‘₩3 million per month,’ including allowances

The government has incorporated a 3.9% increase in public-sector compensation into the 2027 budget proposal. The ₩3 million monthly figure for a first-year Grade 9 civil servant refers to total compensation, including salary and allowances, rather than base pay alone. The final pay tables and individual take-home amounts will need to be confirmed through subsequent procedures.

9/1/2026Views 0

Image released by the South Korean government under an open license

Policy & Public

From the ₩1 Million Marriage Grant to the Child Welcome Grant: What Changes in the 2027 Budget Proposal

The 2027 government budget proposal includes a lifetime marriage grant of ₩1 million for couples who register their marriage, regardless of income, along with proposed changes to childbirth and child allowances. The Child Welcome Grant and Basic Child Allowance reforms are expected to apply to children born on or after July 1, 2027, but the proposal is still subject to National Assembly review, so final implementation and detailed procedures may change.

9/1/2026Views 1

Policy & Public

Nonresident single-homeowner property tax deduction kept at KRW 1.2 billion; KRW 900 million reduction plan scrapped

The Ministry of Economy and Finance has revised its plan to reduce the comprehensive real estate holding tax basic deduction for nonresident single-home households from KRW 900 million, deciding to keep it at KRW 1.2 billion. However, the final tax revision bill still must be submitted to, reviewed by, and passed by the National Assembly, so immediate implementation is not yet confirmed.

9/1/2026Views 0

Public-domain group photograph of South Korean KATUSA soldiers before graduating from the KATUSA Training Center in 1998

Policy & Public

Military Manpower Administration Selects 1,837 KATUSA Soldiers for 2027 Enlistment… Average Competition Ratio 8.8 to 1

The Military Manpower Administration selected 1,837 KATUSA soldiers scheduled to enlist in 2027 through a public computerized lottery on September 1. A total of 16,240 people applied, producing an average competition ratio of 8.8 to 1. The results were scheduled to be published on the Military Manpower Administration website at 5 p.m. that day. Searches related to the Jeonbuk Regional Military Manpower Administration’s active-duty enlistment culture festival were also recorded the same day.

9/1/2026Views 1

Policy & Public

Climate, Energy and Environment Ministry Proposes KRW 25.7319 Trillion Budget for 2027, Including KRW 1.9351 Trillion in

The Climate, Energy and Environment Ministry’s proposed 2027 budget and fund expenditure totals KRW 25.7319 trillion. Of this, KRW 1.9351 trillion is allocated to electricity and water infrastructure for advanced industries, including semiconductors and AI data centers. The proposal is expected to be finalized in December after deliberation and approval by the National Assembly.

9/1/2026Views 0

Policy & Public

2027 Budget Proposal Totals KRW 820.9 Trillion: Key Points Including KRW 200 Trillion R&D Plan

The government announced that it has set total spending in the 2027 budget proposal at KRW 820.9 trillion. The reported year-on-year increase is 12.8%, alongside a KRW 162.3 trillion Future Response Fund and plans to invest more than KRW 200 trillion in national R&D over the next five years. However, the proposal remains subject to submission, review, and approval by the National Assembly.

9/1/2026Views 0

Policy & Public

Long-Term Jeonse Housing Opens Applications for 1,381 Units… Applications by Priority Begin September 14

The Seoul Housing & Communities Corporation is recruiting tenants and prospective tenants for the 51st round of long-term jeonse housing. The program includes 291 newly supplied units and 1,090 re-supplied units, for a total of 1,381 units. Applications will proceed by priority beginning September 14. Long-term jeonse housing allows residents to stay for up to 20 years, but the Seoul Metropolitan Government explains that move-out is the general rule when the lease term ends, with no separate contract extension or conversion-to-sale program.

8/31/2026Views 0

Policy & Public

1,381 Long-Term Jeonse Housing Units to Open for Applications… Priority-Based Applications Begin September 14

Seoul Housing & Communities Corporation (SH) is recruiting tenants and prospective tenants for 1,381 units in its 51st long-term jeonse housing offering. The supply consists of 291 new units and 1,090 re-supplied units, with first-priority applications scheduled for September 14–15. Whether residents can stay for up to 20 years and whether units can later be sold are separate issues that require confirmation.

8/31/2026Views 0

Policy & Public

Youth Future Savings: Up to 19.4% Is a Conversion Effect, Not the Actual Interest Rate… Second Recruitment Tentatively S

The Youth Future Savings account is a flexible-installment product requiring deposits of up to KRW 500,000 per month for three years. The maximum 19.4% is not the nominal interest rate, but the effective subscription benefit converted into a simple savings-account rate by combining the base and preferential rates, government contributions, and tax exemption. The second recruitment round is tentatively scheduled for December 2026.

8/31/2026Views 0

Policy & Public

A KRW 1.4 Billion Deduction for Comprehensive Real Estate Tax? Why the 2026 Tax Reform Plan Is Not Final Yet

The 2026 tax reform plan includes adjusting the basic deduction for comprehensive real estate tax to KRW 1.4 billion for owner-occupied single-home owners and KRW 900 million for non-owner-occupied single-home owners. However, as of August 31, 2026, this is a government proposal undergoing advance legislation notice and submission to the National Assembly—not an enacted law in force.

8/31/2026Views 0