SEOUL, Sept. 2 (Korea Bizwire) — Financial assets of Korean households have turned out to be very low compared to other countries. Experts say that the phenomenon is due to the Korean household practice of having most major assets concentrated on real estate. According to the Korea Financial Investment Association, the portion of financial assets held [...]
SEOUL, Sept. 2 (Korea Bizwire) – The South Korean government will deploy drones to investigate national properties scattered at 5.4 million locations nationwide. The Ministry of Strategy and Finance announced plans on September 1 to properly manage the country’s national properties. By deploying drones and leveraging spatial geographic information, which is more accurate and advanced than aerial [...]
SEOUL, Aug. 10 (Korea Bizwire) – Under the current market conditions, attention is concentrated on profitable real estate. Due to continued low interest rates, the auction price ratio of business and commercial properties at court auctions exceeded 70 percent for the first time in nine years. The number of bids also reached an all time [...]
SEOUL, July 30 (Korea Bizwire) – Wealthy Chinese investors are eyeing real estate markets in Japan and Korea. According to the China Daily, big Chinese players are shifting their investment targets from Australia and the United States to Japan and Korea. Jeju Island in Korea and big cities in Japan like Tokyo, Osaka and Nagoya are [...]
SEOUL, July 29 (Korea Bizwire) – To purchase an apartment unit in Seoul, one would have to save their entire income for more than seven years. In its report on the current status and future prospects of the 2015 Real Estate Market released on July 28, the Korea Appraisal Board talked about the amount of time [...]
SUWON, Jun. 26 (Korea Bizwire) — Gyeonggi-do is planning to provide big-data based analysis on commercial areas for individuals or companies planning to open new businesses in the province. The Gyeonggi Provincial Assembly has pre-announced legislation for an ordinance to develop a system for the analysis, said the assembly on June 25. The system will [...]
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 [...]