commercial property Archives

Commercial Property Vacancy Rate Inches Up amid COVID-19 Shock

SEOUL, April 29 (Korea Bizwire) — With the prolonged COVID-19 outbreak resulting in restrictions on socializing, South Korea’s commercial property vacancy rate continues to rise. The vacancy rate of mid and large-sized commercial properties across the country averaged 13 percent in the first quarter of this year, up 0.6 percentage points from the previous quarter, [...]

Myeongdong Home to Most Expensive Commercial Property in S. Korea

SEOUL, May 31 (Korea Bizwire) — Cosmetic chain Nature Republic’s flagship store in Myeongdong has been named the most expensive commercial property in South Korea for the 15th consecutive year. According to data released by the Ministry of Land, Infrastructure and Transport (MOLIT), the official government appraisal of the land currently housing the Nature Republic [...]