South Korea Tightens Regulations on Public Housing Tenancy for Owners of Luxury Cars

SEJONG, Jan. 8 (Korea Bizwire) – The South Korean government has revised its regulations to prevent individuals who own high-value cars, such as those from Ferrari and Mercedes-Benz, from residing in public rental housing. This move aims to curb the trend of so-called ‘fake low-income’ individuals occupying housing meant for those in genuine need. According [...]