SEOUL, Feb. 26 (Korea Bizwire) — Starting from next year, new apartment developers in South Korea will be required to offer residents electric vehicle (EV) charging stations at 5 percent of the parking spaces in the complex. On Thursday, the government announced plans to set up more EV charging stations at homes and workplaces, taking [...]
SEOUL, Nov. 11 (Korea Bizwire) — Seoul’s apartment prices surged 58 percent during the presidency of Moon Jae-in, which is 4.5 times the increase rate of the combined period of the preceding Lee Myung-bak and Park Geun-hye governments, a civic group said Wednesday. The Citizens’ Coalition for Economic Justice (CCEJ), a leading progressive civic group, [...]
SEOUL, Aug. 3 (Korea Bizwire) — Apartment lease contracts in the South Korean capital of Seoul sank to a nine-year low in July amid tighter rules, municipal data showed Monday. The number of apartment lease contracts, called “jeonse” here, stood at 6,304 in July, the lowest monthly level since data tracking began in 2011, according [...]
SEOUL, June 10 (Korea Bizwire) — Starting in July 2022 at the latest, all construction firms will be required to meet regulations on inter-floor noise before acquiring construction permits. The Ministry of Land, Infrastructure and Transport announced Tuesday that it will require construction firms to pass a test to determine how well each floor blocks [...]
SEOUL, Feb. 7 (Korea Bizwire) — The Wuhan coronavirus is prompting changes to the way South Korean construction companies are selling new apartment units. Jungheung Construction Co., which plans to open sales for an apartment complex in the Wirye New Town in Hanam, Gyeonggi Province, in February, has replaced the typical model house with a [...]
SEOUL, Nov. 22 (Korea Bizwire) — A recent study has revealed that individuals who suffer from a heart attack at a location higher than the third floor of a building have a lower chance of full recovery than those who suffer from the same illness on the first or second floors. Researchers from Kangdong Sacred [...]
SEJONG, Nov. 19 (Korea Bizwire) — The number of apartments owned by households in South Korea came to 9.03 million in 2018, accounting for 59 percent of all homes across the country, government data showed Tuesday. The figures represent a 3.9 percentage-point hike from 8.7 million apartments owned by households in South Korea in 2017, [...]
SEOUL, Oct. 22 (Korea Bizwire) — Over the last five years, radon, a radioactive substance, was reportedly found at thousands of apartment complexes across the nation. The substance was mostly found in construction materials. Rep. Chung Dong-young, based on reports collected from 14 regional authorities, said radon was found in 18,682 households between 2015 and [...]
SEOUL, Oct. 7 (Korea Bizwire) — It has been confirmed that as many as 18,000 “full-time” landlords make money by renting out apartments full-time, without any other job. According to data received by Rep. Park Hong-keun from the National Tax Service, the number of individuals that live off of rental income, or so-called ‘landlords’, came [...]
SEOUL, Jul. 10 (Korea Bizwire) – In what could be the strongest measure ever to clamp down on housing prices, South Korea is cautiously moving to revive the controversial scheme to cap presale prices of privately built apartments, which could have a far-reaching impact on the local home market, industry sources said Wednesday. In a [...]