SEOUL, July 4 (Korea Bizwire) – The average home price in Seoul has surpassed 500 million won (US$434,103) last month, with analysts expecting more price jumps within this year to reach a new high, a market study by KB Kookmin Bank showed Monday. The average home price in the capital city hit 501.98 million won [...]
SEOUL, June 30 (Korea Bizwire) – South Korean households are taking out loans at a faster clip than the increase in their income or ability to pay back, suggesting that household debt may cause serious problems down the road, the central bank said Thursday. In a report to the National Assembly, the Bank of Korea [...]
SEOUL, June 28 (Korea Bizwire) – Due to the stagnating economy and declining real estate sales, the number of Koreans migrating to different areas has declined in three consecutive months (as of May). The total number of domestic migrants in May was 589,000, the lowest figure for the month since May 1975 (480,000). Among those [...]
GEOJE, South Korea, June 23 (Korea Bizwire) – The prolonged struggles of Korea’s shipbuilding industry are affecting the housing market in Geoje, a city in South Gyeongsang Province. Geoje is made up of a number of islands just off the coast of Busan, and it is also the main hub for the two major shipbuilding [...]
SEOUL, June 1 (Korea Bizwire) – Only a few years ago, the single most important factor in the popularity of an apartment was its proximity to education institutions. ‘Cho-Pum-Ah’ for instance, a Korean abbreviation for ‘apartment that embraces an elementary school’, enjoyed high popularity among apartment seekers for exactly this reason. And yet, with a well-established [...]
SEOUL, May 20 (Koreabiz Wire) – Foreign ownership of land in South Korea grew slightly last year compared to 2014 amidst increasing Chinese investment in the southern resort island of Jeju, said a government official Friday. In total, some 20.6 million square meters, or 1.1 percent, of Jeju Island is owned by foreigners. According to the [...]
SEOUL, April 14 (Korea Bizwire) – Research indicates that as housing prices rise, people tend to have children at an older age or not have any children at all. The results of a recent study suggests that policies tied to housing prices could effect the birthrate. A recent report issued by the Korea Institute for [...]
JEJU, April 11 (Korea Bizwire) - If you think of Jeju Island as just a laid back vacation spot or a place for fishermen and tangerine growers, give it a second look. This southern resort island known for its scenic beach and volcanic landscape has drawn a huge influx of Chinese travelers over the past five years [...]
SEOUL, April 6 (Korea Bizwire) – Korean prosecutors have launched an investigation into lawyers who have stepped into the real estate business. It seems like the second round has started in the battle between lawyers and realtors over a market worth two trillion won. The Seoul Central District Prosecutor’s Office announced that it had assigned the ‘Trust [...]
SEOUL, March 18 (Korea Bizwire) – An inconspicuous cafe near Gyeongbok Palace in central Seoul might be a typical place where customers would enjoy coffee or small talk with their friends over a cup of tea after lunch in the neighborhood. What draws the eye, however, is that it changes into a different shop at night [...]