SEJONG, Jun. 25 (Korea Bizwire) — The Korean government has begun a project to develop an online contracting system for property purchasing and leasing, said the Ministry of Land, Infrastructure and Transport (MOLIT) on June 24. The online system will enable Korean citizens to sign a real estate contract with an electronic signature or an [...]
SEOUL, Jun. 9 (Korea Bizwire) — It is estimated that in 2035, two out of three households in Seoul will be composed of one or two people. According to an infographic published by the Seoul Institute on June 8, the share of such small households in 2000 was 33.3 percent in Seoul. The share in [...]
SEOUL, May 25 (Korea Bizwire) – South Korea’s credit card spending on furniture rose sharply in the first two months of this year on the back of a rise in home transactions as the local property market has been on a clear recovery track, data showed Monday. According to the data compiled by the Bank [...]
SEOUL, March 23 (Korea Bizwire) — A special financial service that converts a variable rate loan into a fixed rate loan will be launched by 16 Korean banks on March 24, as part of the Korean government’s efforts to mitigate household debt. However, each branch is expected to offer the service to an average of only [...]
Seoul, Mar. 4 (Korea Bizwire) — The Investment Corporation of Dubai (ICD) is talking with the city of Incheon to join a 3.6 billion dollar business town project called ‘Future City’ in Incheon’s Gumdan district. Incheon Mayor Yoo Jeong-bok accepted a letter from Khalifa Al Daboos, Deputy CEO of the IDC, on March 3 in Dubai. Gumdan Future City will [...]
SEOUL, Feb. 16 (Korea Bizwire) – It is reported that average jeonse deposits for apartments in Seoul have reached as much as six years’ income for an urban laborer household, which means that the average household would have to save all of their income for six years in order to rent a Seoul apartment. Although the [...]
— Global revenue up 18% and Adjusted EPS up 28% for the year — Colliers International revenue up 24% and Adjusted EBITDA up 38% for 2014 *T Announces plan to separate into two independent public companies: Colliers International and FirstService Corporation *T Operating highlights: Three months ended Year ended [...]
Spin-Off Transaction Creates Two Strong Industry Leaders: Colliers International in Commercial Real Estate and New FirstService Corporation in Residential Property Management and Services TORONTO, Feb. 10 (Korea Bizwire) — FirstService Corporation (TSX:FSV) (Nasdaq:FSRV) (“FirstService”) today announced that its Board of Directors has approved, in principle, a plan to separate FirstService into two independent publicly-traded companies [...]
SEOUL, Feb. 1 (Korea Bizwire) – Hyundai Motor Group, the world’s fifth-largest automotive conglomerate, proposed building a 115-story structure on the land it bought from Korea Electric Power Corp. (KEPCO) last year, Seoul city officials said Sunday. The building planned by the group would be 571 meters tall and have a floor area ratio of [...]
SEOUL, Jan. 19 (Korea Bizwire) – The South Korean government announced a plan to create a business friendly environment by revising laws limiting investment this year. According to the plan, two new integrated resorts with casinos, an additional 5,000 hotel rooms and four duty-free shops (three in Seoul and one in Jeju) will be constructed [...]