apartment Archives | Be Korea-savvy
80,000 Individuals Own 5 or More Housing Units Leased to Tenants

80,000 Individuals Own 5 or More Housing Units Leased to Tenants

SEOUL, Oct. 5 (Korea Bizwire) — A survey has found that 80,000 South Koreans own five or more housing units that are being rented out to tenants. According to an analysis by Liberty Korea Party Rep. Kim Sang-hoon of data provided by the Ministry of Land, Infrastructure and Transport (MOLIT), 6.14 million people owned a [...]

Apartment Fever Grips S. Korea

Apartment Fever Grips S. Korea

SEOUL, Oct. 5 (Korea Bizwire) — A 41 year-old office worker earned a windfall of 80 million won (US$71,000) over a canceled apartment transaction, a case that underscores the recent rapid surge in home prices in Seoul. The salaried worker of a major South Korean conglomerate made a down payment of 10 percent of the [...]

Fake Divorces Emerge as a Way to Buy an Apartment on the Cheap

Fake Divorces Emerge as a Way to Buy an Apartment on the Cheap

SEOUL, Jul. 27 (Korea Bizwire) — A middle-aged South Korean woman got married to and divorced from the same man twice, a rare occurrence in most parts of the world. But the couple’s on-again, off-again relationship may have been motivated by more than just their feelings for each other: The couple’s fake divorce appears to [...]

Government Scraps Plans to Intervene in Conflict Between Couriers and Apartment Residents

Government Scraps Plans to Intervene in Conflict Between Couriers and Apartment Residents

SEJONG, Apr. 20 (Korea Bizwire) — The South Korean government has scrapped plans to intervene in a conflict between couriers and an apartment complex after local residents banned delivery vehicles from entering in fear of potential traffic accidents. In a statement released Thursday, the Ministry of Land, Infrastructure and Transport said, “We tried to help delivery [...]