SEOUL, April 17, (Korea Bizwire) — In a significant move to stabilize the nation’s troubled real estate project financing (PF) market, South Korea’s National Assembly has approved a bill enabling Real Estate Investment Trusts (REITs) to engage not only in property investment but also in development and leasing projects. The Land, Infrastructure and Transport Committee’s [...]
SEOUL, April 10 (Korea Bizwire) — Hyundai Engineering & Construction announced Thursday the launch of South Korea’s first in-apartment meditation booths designed exclusively for individual use, a move aimed at enhancing mental wellness and emotional stability among residents. Branded as the H Calming Booth, the new feature will debut at Hillstate Homeasil, a Hyundai apartment [...]
SEOUL, March 28 (Korea Bizwire) — A new government report has revealed a growing polarization in housing among young South Koreans in their early 30s, with more individuals shifting either into monthly rentals or homeownership—while the once-dominant jeonse (lump-sum deposit lease) model continues to decline. Published Wednesday by Statistics Korea’s National Statistical Research Institute, the [...]
SEOUL, March 25 (Korea Bizwire) — The South Korean Ministry of Land, Infrastructure and Transport revealed on March 24 that Hanwha Corporation recorded the highest number of construction defects for apartment and officetel buildings over the past six months. According to the ministry’s quarterly disclosure of construction defect data, Hanwha received 97 defect determinations for [...]
SEOUL, March 23 (Korea Bizwire) — The number of South Korean companies with liabilities exceeding their assets has surged to its highest level in six years, signaling deepening concerns over corporate health amid delayed economic recovery and persistently high interest rates. According to a report released on Sunday by the Korea Economic Research Institute (KERI), 4,466 [...]
SEOUL, March 21 (Korea Bizwire) — As high interest rates and growing fears of jeonse fraud continue to reshape South Korea’s real estate market, the trend of converting traditional jeonse (lump-sum rental deposits) into monthly rental contracts is accelerating — with record-breaking luxury lease agreements becoming increasingly common. According to data released by the Ministry [...]
SEOUL, March 19 (Korea Bizwire) — The Seoul city government on Wednesday said it will temporarily adopt the “land transaction permission system” in four affluent districts of the capital to help stabilize the real estate market, less than five weeks after it lifted the same regulation in two of those districts. The government has designated [...]
SEOUL, March 14 (Korea Bizwire) — Seoul’s iconic Teheran-ro, the bustling thoroughfare that cuts through the heart of Gangnam District, will soon see dramatic changes to its skyline as city officials remove height restrictions and allow for dramatically increased density in new developments. The Seoul Metropolitan Government announced on March 13 that it has approved modifications [...]
SEOUL, March 10 (Korea Bizwire) — LS Cable & System Ltd., South Korea’s biggest cable company, said Monday its unit has received a power cable supply deal in the Philippines. LS Eco Energy will supply mid-voltage and high-voltage cables to an internet data center (IDC) located in the STT Fairview Campus, a data center cluster [...]
SEOUL, March 4 (Korea Bizwire) — Luxury rental prices in Seoul have surged, with a growing number of apartments commanding monthly rents exceeding 10 million won ($6,900), highlighting a shift in the city’s high-end housing market. According to data from South Korea’s Ministry of Land, Infrastructure, and Transport, released on March 3, nearly 38% of [...]