SEOUL, Aug. 2 (Korea Bizwire) – South Korea on Wednesday outlined stricter measures to stabilize the country’s overheating housing market as its previous efforts to curb speculative forces did not work properly. The Moon Jae-in government announced its first real estate measures in June a month after taking office to strengthen lending rules that can [...]
JEJU, Jul. 24 (Korea Bizwire) — On July 21, Jeju Island’s government announced new regulations that will modify the approval process for investors that wish to participate in local developmental projects. Officials from South Korea’s largest island stated the new regulations will soon come into effect, as they seek investors for the latest development project, [...]
SEOUL, July 3 (Korea Bizwire) – South Korea will not undergo a sharp drop in consumption despite the ever-rising household debt, a private think tank said Monday, citing growth in property and financial asset value. Households where the head of the family was over 55 have witnessed a 94.51 percent rise in income and 78.32 [...]
SEOUL, May 30 (Korea Bizwire) – The financial regulator said Tuesday it will apply tighter rules for mortgage loans to all mutual savings institutions starting next month, in the latest step to control fast-growing household debt. The tighter rules, which already have been applied to retail banks and other depository institutions, require borrowers to repay [...]
SEOUL, March 27 (Korea Bizwire) – The estimated value of land owned by South Korea’s 10 biggest business groups rose to a record high last year due in part to the purchase of the headquarters of the Korea Power Electric Corp. (KEPCO) by Hyundai Motors Co. and its affiliates, a market researcher said Monday. Hyundai [...]
SEOUL, March 23 (Korea Bizwire) – With many modern Koreans confined t0 cities but longing to get in touch with nature, demand for houses and residential buildings with terraces is growing quickly. Over the last two years, more than 5,000 ‘terrace’ housing units in 16 apartment complexes were sold, according to a study conducted by Shim [...]
SEOUL, March 9 (Korea Bizwire) – The net income of South Korea’s real estate trust companies hit an all-time high last year, with interest rates staying low and newly built apartments selling like hotcakes, data showed Thursday. Eleven such firms here reported combined net profits of 393.3 billion won (US$343 million) last year, up 77 [...]
SEOUL, March 7 (Korea Bizwire) – The issuance of asset-backed securities (ABS) in South Korea tumbled nearly 27 percent in 2016 from a year earlier as the local property market remained sluggish, data showed Tuesday. The amount of ABS issues totaled 60.7 trillion won (US$52.6 billion) last year, down 26.8 percent from the previous year, [...]
SEOUL, March 2 (Korea Bizwire) – Returns from investments in studio apartments in South Korea edged down in February from a month earlier due to oversupply, data showed Thursday. The annual returns from investments in studio apartments, better known as “officetels” in South Korea, stood at 5.09 percent in February, down from 5.11 percent in [...]
SEOUL, Feb. 21 (Korea Bizwire) – Land owned by Chinese individuals and companies in South Korea has increased by more than five-fold over the past five years, a report showed on Tuesday. The amount of land owned by Chinese entities here came to 16.9 million square meters last year, marking a 486-percent hike from 3.7 [...]