SEOUL, July 21 (Korea Bizwire) — The number of real estate rental contracts shot up in Seoul this year amid an unprecedented drop in the real estate transaction market, data showed Wednesday. According to statistics from the National Court Administration, the number of real estate lease contracts signed in the first half of this year [...]
SEOUL, July 19 (Korea Bizwire) — The average price of an apartment in Seoul has shot up nearly fourfold in the past 18 years after more than doubling under the previous Moon Jae-in administration alone, a civic group analysis showed Tuesday. A 99.1-square-meter apartment in the capital fetched 1.28 billion won (US$973,162) on average as [...]
SEOUL, July 15 (Korea Bizwire) — South Korean builder SK ecoplant Co. said Thursday it was launching a drive to recycle waste incineration ash as a construction material. The company joined hands with CMD Group, a specialist in the manufacturing of eco-friendly construction materials, to promote technological cooperation and to produce block aggregates made of [...]
SEOUL, July 14 (Korea Bizwire) — A local court on Thursday ruled in favor of the comprehensive real estate holding tax, a controversial additional tax burden imposed on expensive house owners. The Seoul Administrative Court rejected two lawsuits filed separately by two Seoul residents demanding that comprehensive real estate holding taxes levied on their respective [...]
SEOUL, July 12 (Korea Bizwire) — The value of unreturned deposits for “jeonse” home rentals is increasing year after year, hitting an all-time high in the first half of this year, data showed Monday. Under South Korea’s decades-old jeonse system, tenants pay a large lump-sum deposit, known as key money, to the landlord, which [...]
SEOUL, June 23 (Korea Bizwire) — South Korean builder SK ecoplant Co. has formulated a blueprint aimed at developing and applying digital solutions and platforms for its environment business to upgrade it into a new energy business. The company recently signed a strategic partnership agreement with Amazon Web Service (AWS) Korea, the local cloud-computing service [...]
GWANGJU, June 4 (Korea Bizwire) — Police transferred a top official of HDC Hyundai Development Co. to the prosecution Friday, wrapping up an investigation into the fatal collapse of an apartment building under construction in the southwestern city of Gwangju in January. Outer wall structures of the 39-story building in the city, 330 kilometers south [...]
SEOUL, May 4 (Korea Bizwire) — HDC Hyundai Development Co. said Wednesday it will demolish an apartment complex in South Korea’s southwestern area to build it all over again to ally safety concerns. HDC Chairman Chung Mong-gyu said the real estate developer will completely take down eight apartment buildings in Gwangju for reconstruction at the [...]
SEOUL, April 13 (Korea Bizwire) — The Seoul city government on Wednesday imposed an additional eight-month business suspension on HDC Hyundai Development Co. over a deadly building demolition project that claimed nine lives in June of last year. The latest administrative measure came after the company was slapped with an eight-month business suspension order on [...]
SEOUL, March 30 (Korea Bizwire) – The Seoul city government on Wednesday imposed an eight-month business suspension on HDC Hyundai Development Co. over a deadly building demolition project that claimed nine lives in June of last year. The order was issued at the request of the land ministry following an investigation into the accident in [...]