Construction & Real Estate Archives | Be Korea-savvy

Archive by category Construction & Real Estate

80,000 Individuals Own 5 or More Housing Units Leased to Tenants

80,000 Individuals Own 5 or More Housing Units Leased to Tenants

SEOUL, Oct. 5 (Korea Bizwire) — A survey has found that 80,000 South Koreans own five or more housing units that are being rented out to tenants. According to an analysis by Liberty Korea Party Rep. Kim Sang-hoon of data provided by the Ministry of Land, Infrastructure and Transport (MOLIT), 6.14 million people owned a [...]

Apartment Fever Grips S. Korea

Apartment Fever Grips S. Korea

SEOUL, Oct. 5 (Korea Bizwire) — A 41 year-old office worker earned a windfall of 80 million won (US$71,000) over a canceled apartment transaction, a case that underscores the recent rapid surge in home prices in Seoul. The salaried worker of a major South Korean conglomerate made a down payment of 10 percent of the [...]

Young Adults Must Save for 15 Years to Buy Apartment in Seoul

Young Adults Must Save for 15 Years to Buy Apartment in Seoul

SEOUL, Sept. 26 (Korea Bizwire) –A new study has found that young adult couples in their 20s and 30s must save up for more than 15 years without spending a single cent in order to purchase a respectable apartment unit in Seoul. According to Statistics Korea, the average monthly disposable income for households under 39 [...]

Housing Prices in Seoul Surge, Living Space in the Capital Smallest in the Nation

Housing Prices in Seoul Surge, Living Space in the Capital Smallest in the Nation

SEOUL, Sept. 26 (Korea Bizwire) –The average living space for households in Seoul was found to be the smallest in South Korea. In addition, the living space in the Gangnam district including Seocho-gu was greatest of all the 25 municipalities in Seoul. According to data released by Statistics Korea yesterday, the average living space per [...]

SK E&C to Build Temporary Shelter for Laos Dam Victims

SK E&C to Build Temporary Shelter for Laos Dam Victims

SEOUL, Aug. 20 (Korea Bizwire) — South Korean construction firm SK Engineering & Construction Co. said Monday that it plans to complete the construction of temporary shelters by next month in southeastern Laos, which was hit hard by a devastating flood. SK E&C said the structures can accommodate about 150 households on a 10,000-square-meter area [...]

Fake Divorces Emerge as a Way to Buy an Apartment on the Cheap

Fake Divorces Emerge as a Way to Buy an Apartment on the Cheap

SEOUL, Jul. 27 (Korea Bizwire) — A middle-aged South Korean woman got married to and divorced from the same man twice, a rare occurrence in most parts of the world. But the couple’s on-again, off-again relationship may have been motivated by more than just their feelings for each other: The couple’s fake divorce appears to [...]

Hundreds Missing in Dam Collapse in Laos, Korean Builder Joining Rescue Operations

Hundreds Missing in Dam Collapse in Laos, Korean Builder Joining Rescue Operations

SEOUL, Jul. 24 (Korea Bizwire) — Hundreds have gone missing after a dam collapsed in southeast Laos on Monday, affecting 1,300 households and displacing around 6,600 people, the Laotian news agency KPL reported Tuesday. According to the report, one of the auxiliary dams collapsed around 8 p.m. Monday at the Xepian-Xe Nam Noy hydropower plant [...]

Appetite Grows for Apartment Complexes That Offer Breakfast

Appetite Grows for Apartment Complexes That Offer Breakfast

SEOUL, Jun. 8 (Korea Bizwire) — Yang Jong-moon’s routine for the past few months has involved dropping by his apartment complex’s community center once or twice a week to pick up breakfast before he heads off to work. In September, the Banpo Riche apartment building where he lives began to offer breakfast to its residents [...]

Samsung C&T Introduces “Smart Home”

Samsung C&T Introduces “Smart Home”

SEOUL, May 29 (Korea Bizwire) — At an apartment complex in Seoul, a woman comes home from the supermarket. As she enters the corridor, an air shower system activates, and fine dust is removed with ease. Feeling refreshed, she enters the living room. With a wave of her right hand, the curtains are drawn automatically. [...]

Global Business Center to Open at Second Pangyo Techno Valley

Global Business Center to Open at Second Pangyo Techno Valley

SUWON, Feb. 19 (Korea Bizwire) — The Gyeonggi Urban Innovation Corporation has unveiled plans for a global business center at the Second Pangyo Techno Valley. The 249.5 billion won project will see a 13-storey building built on a 12,817 square meter lot, an edifice that will serve as the Global Biz Center for the much anticipated [...]