U.S. ESTA Travel Pass News

Instability in the Middle East is shaking both international financial markets and the real economy. As the won-dollar exchange rate soared past the 1,500 won mark—considered a psychological threshold—and fuel surcharges on airline tickets skyrocketed due to rising international oil prices, overall costs for overseas travel, studying abroad, and business trips are rising sharply.

On the 17th (KST), the won-dollar exchange rate closed at 1,491.90 won, down 1.80 won from the previous day’s closing price in the Seoul foreign exchange market. Although the sharp rise was temporarily calmed by intervention from foreign exchange authorities, a sense of crisis is spreading in the market that the “1,500 won era” has already begun.

On the previous day, the won-dollar exchange rate rose to 1,501 won during trading, surpassing the 1,500 won mark for the first time in 17 years since the global financial crisis in 2009. The recent surge in the exchange rate is attributed to the continued strength of the dollar, driven by rising international oil prices and growing inflation concerns stemming from the escalation of the Iran-U.S. war.

In the foreign exchange market, extreme forecasts suggest the exchange rate could skyrocket to the 1,600 won range if the war becomes prolonged. The problem, however, is that the rise in the exchange rate is not merely a financial market issue. As international oil prices and the exchange rate surge simultaneously due to the Middle East crisis, the aviation industry anticipates a massive increase in fuel surcharges applied to international flights this coming April.

For routes from Korea to the U.S., it is expected that a fuel surcharge of up to approximately 400,000 won will be added for a round trip. Consequently, Korean Air will now charge a fuel surcharge of up to 303,000 won per one-way trip. For a round-trip flight from Incheon to New York, approximately 408,000 won will be added to the ticket price. Asiana Airlines is also applying a fuel surcharge of up to 251,900 won per one-way trip to its New York and Los Angeles routes. This figure represents a whopping 3.2-fold increase from the previous 78,600 won. The rise in aviation fuel surcharges is placing a heavy burden not only on Koreans who frequently travel between Korea and the U.S. but also on Korean Americans.

Choi (42) said, “When looking at it in dollar terms, it feels like travel costs to Korea have become a little cheaper, but I don’t really feel it because airfare prices have risen so much,” adding, “I travel back and forth often because my parents live in Korea, so it is a huge burden if fuel surcharges rise like this.”

The rise in international oil prices triggered by the Iran-U.S. war is tightening the grip on residents by causing gasoline prices in New York State to skyrocket. In this regard, Governor Kathy Hockul held a press conference on the 16th and announced a ‘Consumer Protection Plan’ containing measures such as eliminating hidden energy costs, eradicating excessive rate hikes, and expanding programs to alleviate the burden of energy costs.

Governor Hochul stated on this day, “In just two weeks, gasoline prices in New York State have surged by an average of 21% (62 cents) per gallon and diesel by an average of 28% ($1.13) per gallon,” adding that he would do his utmost to protect consumers as the resulting impact, including inflation, is inevitable.

Recent data indicates that homes in Northern Virginia are selling within just two weeks of being listed. According to the February market report released on the 10th by real estate information service provider Bright MLS, homes in Northern Virginia—including Fairfax, Arlington, and Loudoun counties—are selling within just 5 to 11 days of being listed.

Looking at the data by region, Fairfax County was found to be particularly hot. In this area, a transaction took place within just 7 days of listing, and the number of transactions increased by 6.3% compared to the same period last year. The median sale price was recorded at $729,000, continuing a solid upward trend. In Loudoun County, the time taken from listing to sale was 7 days with an average transaction price of $760,000, while in Arlington County, it took 11 days with a transaction price of $695,000.

Last month, a total of 3,574 new listings appeared across the entire Washington metropolitan area, plunging 13% year-over-year and marking the lowest February supply in over 20 years. Conversely, as 30-year fixed interest rates fell to their lowest level in three and a half years, buyers accelerated their activity.

In contrast, downtown Washington, D.C., presented a stark contrast to Northern Virginia, with transaction volume plunging 18.8% and the median price falling 6.2% to $599,000. Experts predict that this “listing drought” and “ultra-fast sales” will continue for the foreseeable future.

The Senate is pushing a bill to exempt households with an annual household income of $75,000 or less from federal income taxes, and attention is focused on its passage.

Senator Cory Booker introduced the “Keep Your Pay Act,” a middle-class tax cut, on the 9th. The bill would exempt the first $75,000 of annual income from federal income tax for married couples filing jointly. The bill would expand the standard deduction from $32,200 to $75,000, further expanding the exemption. The bill also expands the standard deduction to $37,500 for single adults filing individually and to $56,250 for households filing as head of households.

Congressman Booker explained that visitors can easily estimate the savings that could be realized if the bill becomes a reality by visiting his website (booker.senate.gov/tax-calculator). “It’s a simple idea: eliminate taxes on the first $75,000 of a household’s income,” he said. “We need a dramatic change to make the American Dream accessible to everyone once again.

The money needed to eliminate the income tax exemption can be more than offset by measures like curbing corporate tax evasion and raising taxes on the wealthy and corporations.

The New York City Council is actively pursuing a plan to raise the minimum wage to $30 per hour, and attention is focused on its future course.

On the 10th, New York City Councilmember Sandy Nurse (Democrat) formally introduced a minimum wage increase ordinance (Int. 757) with these provisions to the City Council and began the process for its passage. The ordinance introduced that day stipulates that the minimum wage per hour for companies with 500 or more employees will gradually increase starting at $20 in 2027, $23 in 2028, $26 in 2029, and $30 in 2030, and starting in 2031, it will automatically increase annually in line with the Consumer Price Index (CPI-W), or inflation rate. The ordinance also includes a provision to gradually increase the minimum wage per hour for small businesses with 500 or fewer employees over five years, starting at $19 in 2027, then $21.50 in 2028, $24 in 2029, $27 in 2030, and $29 in 2031, before automatically increasing annually starting in 2032, also linked to the rate of inflation. If this ordinance becomes law, New York City will have the highest minimum wage in the United States.

The $30 hourly minimum wage was one of Mayor Zoran Mamdani’s key campaign promises during last year’s mayoral election. If the ordinance passes the City Council, it will almost certainly take effect immediately, without a veto. The ordinance will take effect 180 days after the mayor signs it.

At a press conference held after introducing the ordinance that day, Councilmember Nurse pointed out, “Currently, a worker earning the minimum wage of $17 per hour in New York City has an after-tax real income of only $500 per week, which makes it virtually impossible to live in New York City.”

She continued, “There is research that shows that a real ‘living wage’ in New York City, considering the consumer price index, should be at least $36.99 for even a childless adult. Considering the high inflation and the murderous cost of living in New York City, the current minimum wage of $17 is woefully inadequate,” emphasizing the legitimacy of raising the minimum wage to $30.

Councilmember Nurse continued, “Currently, New York City’s minimum wage falls short of Flagstaff, Arizona’s $18.35, Denver’s $19.29, and Seattle’s $21.30.” Meanwhile, regarding Councilmember Nurse’s proposed minimum wage increase to $30, New York City Mayor’s spokesperson Dora Pequek said, “While the city government is reviewing this ordinance, Mayor Mamdani will focus on solving the housing and other cost-of-living crisis for workers using all available city resources,” avoiding a direct answer to the question of whether Mayor Mamdani supports or approves of the ordinance.

The 16th Northern Virginia Housing Expo, a one-stop shop for information on home buying, selling, remodeling, and repairs in Northern Virginia, will be held on Saturday, July 7th, from 10:00 AM to 3:00 PM at Fairfax High School (3501 Lion Run) in Fairfax City. This event is sponsored and co-hosted by the Virginia Housing Authority, the U.S. Department of Housing and Urban Development (HUD) DC Chapter, the Northern Virginia Association of Realtors (NVAR), and local governments throughout Northern Virginia.

It is open to the public at no cost. Attendees can consult with housing experts in the exhibition hall and receive a variety of services, including informational workshops and one-on-one financial coaching.

Expert workshops will cover topics such as credit management, first-time homebuyer programs, the rental and purchase process, senior housing options, and how to utilize a real estate agent. Certified volunteer coaches will also be available on-site to provide personalized financial advice.

Meanwhile, the online event held last year reportedly attracted a whopping 200,000 attendees, making it a huge success.

The building of the Council of Experts, the constitutional body that elects Iran’s Supreme Leader, collapsed on the 3rd (local time) after being bombed by the United States and Israel, CNN and local Iranian media reported. Speculation had been raised that the election of the next Supreme Leader would be postponed due to the safety of the Council members being threatened by continued US and Israeli bombing, but conflicting reports have also emerged that a final announcement is imminent.

The Council of Experts, a constitutional body comprised of 88 clerics with eight-year terms, is currently in the process of selecting a successor to Ayatollah Seyyed Ali Khamenei, who was killed in a US and Israeli airstrike on the 28th of last month. The headquarters of the Council of Experts, located in the central Iranian religious city of Qom, was bombed by the Israeli military on Tuesday.

President Donald Trump also told reporters that day, “There was another attack on the new leadership today.” However, local media reported that the meeting was not in session at the time of the bombing. Iran’s semi-official Fars News Agency reported that the Council of Experts was discussing the Supreme Leader election via video conference and that it was in the “final stages,” but it was unclear when the final results would be announced.

AFP and Iranian dissident media outlet Iran International also reported that Fars News reported that the final in-person meeting of the Council of Experts could be postponed until after Khamenei’s funeral and burial, which is expected next week, due to heightened security measures. Khamenei’s body will be buried in his hometown and a Shiite holy city, Mashhad, Iranian media reported on Tuesday.

The funeral date has not yet been announced, but Iran’s Revolutionary Guard Corps said via Telegram that a mass funeral would be held in the capital, Tehran, ahead of Khamenei’s burial. However, there are conflicting views that a final decision could be made soon, with the New York Times (NYT) reporting that the Council of Experts is considering officially announcing Khamenei’s second son, Mojtaba Khamenei, as the next Supreme Leader on the morning of the 4th.

On the fourth day of armed conflict, the United States and Israel continued their large-scale offensive not only against the Council of Experts building but also against several locations in Iran, including Tehran. According to local media, including Mehr News Agency, Tehran’s Mehrabad International Airport was attacked. Local media published photos showing smoke billowing from the airport after the bombing. Local media also reported that a parked aircraft at Bushehr Airport in the south was damaged by airstrikes.

Israel also carried out a large-scale strike on Iranian weapons production facilities and ballistic missile launch sites. The Israeli military explained that in the central city of Isfahan, dozens of ballistic missiles launch sites and storage warehouses were targeted.

Even after graduation, H-1B employment is blocked, and the number of international students has been cut in half in the past 10 years. Mr. Kim, a Korean-American in his 20s who came to Korea to study and graduated from college, had planned to continue his master’s degree in the United States, but decided to give up that plan and return to Korea. He had hoped that earning a master’s degree in engineering would lead to employment at a US company, but the increasingly difficult reality was formidable.

Tuition, housing, and other expenses would cost tens of thousands of dollars annually, and the high exchange rate and rising prices in the US only increased the burden. Mr. Kim cited his wavering confidence in finding a job in the US as the biggest reason for his decision to return to Korea. He saw many of his acquaintances who had already completed their studies struggling to find jobs or losing their jobs due to company downsizing. In Korea, there was frequent talk that American degrees were no longer as valuable as they once were. Ultimately, he chose to return to Korea to help his family business and prepare for employment in Korea.

Like Kim, there are a growing number of Korean students in the United States who are dropping out of their studies or abandoning their plans to pursue further education or employment in the United States. This is due to the soaring exchange rate and skyrocketing prices in recent years, leading to a snowballing cost of living and studying in the United States. Furthermore, since the inauguration of President Trump’s second term, anti-immigration policies have intensified, and the increased scrutiny of student and work visas has deepened uncertainty about their residency status. Such cases are numerous.

According to Yonhap News, Mr. Lee (28), who graduated from a computer engineering department at a state university in the United States in 2023, returned to Korea in July of last year. He said, “After failing the H-1B visa lottery twice, I had no other options.” There was a three-year Optional Practical Training (OPT) period given to STEM (science, technology, engineering, and mathematics) majors, but the job market was narrowed due to companies being reluctant to sponsor visas, so they had to pack their bags.

Lee said, “Since the second half of last year, when big tech companies carried out large-scale layoffs, the number of new visa sponsors has practically come to a standstill. I was accepted by a small and medium-sized IT company, but after failing the H-1B lottery twice, I couldn’t hold on any longer.”

Park (55), who sent his son to study abroad at the University of California, also said that he recently decided to have his son return to Korea. His goal was to have his son majoring in biotechnology go to graduate school, but the soaring exchange rate forced him to give up on that plan.

Park said, “I even considered taking out a mortgage on the apartment I had planned for retirement and eventually persuaded him to just finish his bachelor’s degree and come back. My son understood the reality and chose to return to Korea.” Kim (24), a design major at a New York university, took a leave of absence in June of last year after completing her third year.

“When I first studied abroad, the exchange rate was around 1,200 won, but it quickly rose to over 1,400 won. Adding up my annual tuition and living expenses, I ended up spending over 40 million won more per year than the Korean won my parents sent me,” Kim said. “I considered moving to the outskirts to save on rent, but the commute and safety concerns made it difficult. Ultimately, after discussing it with my parents, I decided to return to Korea for a while and see how things unfolded.”

This trend extends beyond four-year universities. Park (23), a community college student, also dropped out for similar reasons. Park said, “With the rising exchange rate, even community college tuition has become more expensive than private Korean universities,” and ultimately decided to prepare for the Korean university transfer exam. The decline in Korean students studying abroad in the United States is also reflected in the numbers.

According to the Korean Ministry of Education, as of April last year, there were 129,713 Korean students enrolled in higher education institutions overseas. This represents a 14-year decline since the peak of 262,465 in 2011. Overseas funding for study and training programs has also declined. According to the Bank of Korea’s Economic Statistics System, funding for study and training programs fell from $4.488 billion in 2010 to $3.0527 billion last year. According to a previous survey conducted by the Institute for International Education (IIE) on 828 higher education institutions in the United States last year, approximately 57% of institutions reported a decline in new international student enrollment, with 96% citing “visa application concerns” as the main reason for the decline.

A representative from one study abroad agency stated, “Many students are abandoning their study abroad plans due to high exchange rates or visa issues,” adding, “The study abroad market is in a severe state of decline.”

New York City Council Speaker Julie Menin has made it clear that she will reject Mayor Zoran Mamdani’s proposed 9.5% property tax increase.

Menin expressed her opposition on the 20th, stating, “Mayor Mamdani’s proposed property tax increase is unfeasible.” The mayor’s proposed 2026-27 budget, released on the 17th, included a plan to raise property taxes by 9.5% if the tax increase fails, and the Councilmember, who has the authority to approve it, has made it clear that she will reject it.

Councilmember Menin emphasized, “A property tax increase will directly impact small property owners, small businesses, and communities of color.”

According to a New York Times analysis, Mayor Mamdani’s proposed property tax increase would affect over 3 million single-family homes and apartments and over 100,000 commercial buildings. If implemented, the city could secure an additional $14.8 billion in tax revenue over the next four years.

As of this year, New York City property taxes are 19.843% for Class 1 (one- to three-family homes and condos) and 12.439% for Class 2 (apartments, co-ops, and large condos). While New York City property taxes are the only tax the mayor can control without state or legislative approval, any increase requires City Council approval.

The New York Times (NYT) reported on the 13th that the Department of Homeland Security (DHS) is pressuring Big Tech companies to identify social media users who monitor or criticize the activities of Immigration and Customs Enforcement (ICE). According to the report, DHS has sent hundreds of administrative subpoenas to major tech companies, including Google, Meta (parent company of Facebook and Instagram), Reddit, and Discord, in recent months.

The subpoenas reportedly demanded personal information, such as real names, email addresses, and phone numbers, from anonymous accounts that share the locations of ICE agents or criticize ICE. DHS argued that these measures are to ensure the safety of field agents and that the government has broad administrative subpoena powers.

Unlike regular warrants that require court approval, administrative subpoenas can be issued by the executive branch on its own and were previously used only in the investigation of serious crimes such as child trafficking. However, the New York Times pointed out that under the Trump administration, this administrative subpoena power has been abused to silence criticism of ICE. In September of last year, DHS subpoenaed Meta to learn the identity of the operator of an Instagram account that posted information about ICE raids in California. However, after the ACLU filed a legal action, the agency withdrew the request before a court ruling. A similar situation occurred with the “Mongko Community Watch” account, which shared the locations of ICE agents in Montgomery County, Pennsylvania.

In October of last year, Meta notified the operator of the account that, “If no legal objection is filed, the information will be turned over to the government in 10 days.” When the operator filed a lawsuit through the ACLU, DHS withdrew the subpoena within two days.

Attorney Roney noted, “The government is employing a strategy of withdrawing subpoenas once a lawsuit is filed to avoid creating a precedent unfavorable to them. Ultimately, this forces individuals to take the burden of appealing directly to the courts.” Tech companies are taking a cautious approach to the government’s excessive demands for information.

A Google representative stated, “When we receive a subpoena, we review it by balancing the protection of user privacy with fulfilling our legal obligations. Unless prohibited by law or in exceptional circumstances, we notify users, and we reject broad requests.”

This controversy aligns with the Trump administration’s strong anti-immigration stance during its second term. Tom Homan, White House border czar, recently pledged in an interview to build a database of individuals who obstruct or impede ICE’s operations.

As Automated Camera Enforcement (ACE) for vehicles that trespass in bus lanes or illegally park at bus stops is gradually being implemented in New York City, enforcement of violations began on the Q17 and Q27 bus routes, which pass through Flushing, Queens, on the 16th.

Using ABLE cameras installed on MTA buses, enforcement of violations includes not only existing bus lane violations such as trespassing, stopping, and obstructing bus stops, but also all vehicles that impede bus operation, such as illegal or double-parked vehicles at bus stops.

However, fines will not be issued until a 60-day grace period. Fines are $50 for the first offense but can reach up to $250 for repeat offenses.

According to MTA, ABLE cameras are currently installed on 54 bus routes across the city.