SEOUL, Oct. 29 (Korea Bizwire) — Concerns are being raised as Chinese millionaires are reportedly purchasing additional luxury apartments in Seoul, further raising housing prices amid a lack of housing supply. Recently, a Chinese study-abroad student in his 30s was found to have purchased eight apartments across South Korea, seven of which were being rented [...]
SEOUL, Aug. 12 (Korea Bizwire) – South Korea will adopt a controversial scheme to cap presale prices of privately built apartments in extended efforts to stabilize real estate markets, the land ministry said Monday. The ministry said the government plans to revise related laws by early October to fully prepare for the adoption of the “presale price [...]
SEOUL, Nov. 9 (Korea Bizwire) — Being a homeowner has become more difficult for Hwang Jin-kyu, a 38-year-old software engineer who has been trying to buy a three-bedroom apartment in northern Seoul for months. He sought to borrow about 200 million won (US$178,300) from a bank to buy the 79.3-square-meter home, but his application for [...]
SEOUL, Jul. 4 (Korea Bizwire) — After a series of accidents that were sparked by falling objects from high-rise apartment buildings, police have started to implement measures aimed at promoting public safety. The National Police Agency revealed yesterday that it will be carrying out promotional activities at apartment management offices and local government agencies to [...]
SEOUL, Aug. 10 (Korea Bizwire) — Smokers lighting up in the comfort of their homes will no longer be able to continue in safe anonymity. On August 9, the Ministry of Land, Infrastructure and Transport announced that it had revised existing regulations to cut down on indoor smoking in residential apartments. Under the new policy, apartment [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]