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Apartments in Taller Buildings are More Expensive: Data

Apartments in Taller Buildings are More Expensive: Data

SEOUL, Aug. 25 (Korea Bizwire) — Apartments in taller buildings are more expensive in the greater Seoul area, a real estate big data company said Wednesday. Real Estate R114 made a price comparison of 3,403,812 apartments in the greater Seoul area sorted by floor, which showed that the average apartment price in buildings that are [...]

Seoul’s Average Apartment Price Jumps Nearly Fourfold in 18 yrs

Seoul’s Average Apartment Price Jumps Nearly Fourfold in 18 yrs

SEOUL, July 19 (Korea Bizwire) — The average price of an apartment in Seoul has shot up nearly fourfold in the past 18 years after more than doubling under the previous Moon Jae-in administration alone, a civic group analysis showed Tuesday. A 99.1-square-meter apartment in the capital fetched 1.28 billion won (US$973,162) on average as [...]

More than 3,000 High-priced Apartment Transactions Under Investigation for Illegalities

More than 3,000 High-priced Apartment Transactions Under Investigation for Illegalities

SEOUL, March 3 (Korea Bizwire) — A large number of high-priced apartment transactions using legally dubious methods have been uncovered. The Ministry of Land, Infrastructure and Transport said Wednesday it had investigated transactions of high-priced apartments with a value of more than 900 million won (US$747,630) made during the period from March 2020 to June [...]

POSCO E&C Develops Customizable Apartment Ventilation System with Negative Pressure Function

POSCO E&C Develops Customizable Apartment Ventilation System with Negative Pressure Function

SEOUL, Feb. 24 (Korea Bizwire) — POSCO Engineering & Construction Co., the construction arm of South Korea’s leading steelmaker POSCO, said Wednesday it had developed an apartment ventilation system designed to enable management of air quality for each of an apartment’s rooms and featuring a negative pressure function. Existing apartment ventilation systems remove fine dust [...]

Public Voices Grow in Support of ‘Post-Construction Sale System’ After Gwangju Apartment Building Collapse

Public Voices Grow in Support of ‘Post-Construction Sale System’ After Gwangju Apartment Building Collapse

SEOUL, Jan. 21 (Korea Bizwire) — Public voices are growing in support of a ‘post-construction sale system’ after fraudulent construction was pointed out as the cause of the partial apartment building collapse in Gwangju last week. Major online real estate communities have recently been flooded with a large number of comments supporting the introduction of [...]

HDC Apartments Flood Real Estate Market Following Gwangju Apartment Building Collapse

HDC Apartments Flood Real Estate Market Following Gwangju Apartment Building Collapse

SEOUL, Jan. 19 (Korea Bizwire) — HDC Hyundai Development Co.’s apartment brand ‘IPark’ is facing rising safety concerns following the recent collapse of an apartment building. On Jan. 11, the facade on a 39-story apartment building crumbled to the ground at its construction site in Gwangju, about 330 kilometers southwest of Seoul, killing at least [...]

Artworks Draw Attention from Builders amid Wave of Apartment Gentrification

Artworks Draw Attention from Builders amid Wave of Apartment Gentrification

SEOUL, Jan. 13 (Korea Bizwire) — There is a significant buzz around art in the construction industry on the back of the gentrification of apartment complexes. In collaboration with the artwork platform ‘Open Gallery,’ construction company Hyundai Engineering Co. developed an artwork subscription service for the communal areas of apartments last month. This service allows [...]

Conflicts Deepen over Apartment Complexes Being Built Near Royal Tombs

Conflicts Deepen over Apartment Complexes Being Built Near Royal Tombs

SEOUL, Dec. 17 (Korea Bizwire) — Conflicts are flaring up over new apartment complexes that are being built within the cultural heritage conservation area around a site of royal tombs from the Joseon Dynasty in Gimpo, west of Seoul. The Cultural Heritage Administration (CHA) issued a work suspension order for the construction of the apartment [...]