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South Korean Home Ownership Reaches Record Levels

South Korean Home Ownership Reaches Record Levels

SEOUL, April 26 (Korea Bizwire) – Soaring rental prices in the housing market in recent years are seeing upper-middle class households purchase their own homes, with the home ownership rate reaching 56.8 percent, the highest figure since records began in 2006, according to a report released yesterday by the Ministry of Land, Transport and Maritime [...]

Samsung Apartments Equipped with Anti-Fine Dust Systems

Samsung Apartments Equipped with Anti-Fine Dust Systems

SEOUL, April 18 (Korea Bizwire) – Samsung Construction & Trading Corporation announced Monday that it is introducing fine dust filtering systems and air quality control devices at its upcoming Raemian apartments in Sinbanpo and Seokgwan-dong, Seoul.  The IoT Home Cube, a portable device developed by Samsung C&T’s residential engineering division, measures the fine dust concentration [...]

Returns from Investments in Studio Apartments down amid Glut

Returns from Investments in Studio Apartments down amid Glut

SEOUL, March 2 (Korea Bizwire) – Returns from investments in studio apartments in South Korea edged down in February from a month earlier due to oversupply, data showed Thursday.  The annual returns from investments in studio apartments, better known as “officetels” in South Korea, stood at 5.09 percent in February, down from 5.11 percent in [...]

Apartment Security Guards Struggle to Find Dignity

Apartment Security Guards Struggle to Find Dignity

GWANGJU, Jan. 11 (Korea Bizwire) – Being employed as an apartment security guard is probably among the worst jobs to have in Korea, not because the work itself is particularly demanding, but because of the verbal, or sometimes even physical abuse that guards have to endure.  In a recent survey by Gwangju’s Contingent Workers Support [...]

Government Revises Rules on Special Housing Supply for Multi-Child Families

Government Revises Rules on Special Housing Supply for Multi-Child Families

SEOUL, Nov. 7 (Korea Bizwire) – The government announced Sunday a revision to its Rules on Housing Supply, to include fetuses and adoptees as part of its ‘multi-child special housing supply’ program.  The program was designed to promote child birth with Korea’s fertility rate stuck among the lowest in the world, and gives priority in [...]

Korean Apartments Offer Residents New Types of Common Facilities and Services

Korean Apartments Offer Residents New Types of Common Facilities and Services

SEOUL, June 21 (Korea Bizwire) – With an increasing number of consumers who have grown more careful and rational in their spending, newly-built apartments are offering various common facilities and services to reduce consumer burdens and maximize convenience.  Hyundai Engineering & Construction has implemented a car-sharing service at its latest apartment complex, Hill State Dongtan, [...]

Energy Saving Solutions Custom-tailored for Apartments in Seoul

Energy Saving Solutions Custom-tailored for Apartments in Seoul

SEOUL, South Korea, Sept 25 (Korea Bizwire) – What is ‘Energy Consulting?’ It is a consulting service recently launched by the Seoul City government and Korea Telecom to help apartment residents reduce their electric bills. Teams of consultants visit apartments on demand and conduct technical, structural and administrative analysis on actual conditions of energy use [...]