SEOUL, April 4 (Korea Bizwire) – While housing prices began to drop last year, households making the median income still struggle to buy apartments in Seoul, data showed Monday. Last year’s housing opportunity index for the capital city was 3.0, which indicates that only 3 out of 100 apartments in the city are within the [...]
SEOUL, March 17 (Korea Bizwire) — Controversy surrounding the removal of a memorial banner has shed light on the issue of workplace bullying and classism in South Korean society. The banner, which was hung at an apartment complex in Seoul to commemorate a security guard who took his own life due to workplace abuse, was [...]
INCHEON, March 8 (Korea Bizwire) — A series of disputes are taking place at newly built apartment complexes that lack parking spaces, over the payment of parking fees by residents. A new apartment complex in Incheon, 27 kilometers west of Seoul, was embroiled in controversy after a notice asking residents to agree to new parking [...]
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, 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 [...]
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 [...]
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 [...]
SEOUL, Feb. 6 (Korea Bizwire) — The proportion of apartments bought by people in their 30s or younger reached an all-time high last year amid “panic buying” over soaring housing prices, data showed Sunday. The buyers of this age group accounted for 31 percent of the country’s total apartment sales in 2021, up from 29.2 [...]
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 [...]
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 [...]