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S. Korea to Add 132,000 Housing Units in Greater Seoul Area to Stabilize Home Prices

S. Korea to Add 132,000 Housing Units in Greater Seoul Area to Stabilize Home Prices

SEOUL, Aug. 4 (Korea Bizwire) — South Korea plans to supply 132,000 housing units in Seoul and its neighboring area, in the latest effort to stabilize home prices and ease fears of shortages, Finance Minister Hong Nam-ki said Tuesday. The government will ease some construction rules, allowing redevelopment projects of aging apartment buildings to increase [...]

S. Korea to Further Tighten Property Rules, Expand Regulated Areas to Curb Rising Home Prices

S. Korea to Further Tighten Property Rules, Expand Regulated Areas to Curb Rising Home Prices

SEOUL, June 17 (Korea Bizwire) — South Korea said Wednesday that it will further tighten lending rules and designate more areas subject to tighter regulations in an effort to stem a further rise in housing prices. The government rolled out its toughest measures yet to stem rising housing prices in greater Seoul and some unregulated [...]

Seoul Warns of Additional Measures to Curb Home Prices

Seoul Warns of Additional Measures to Curb Home Prices

SEOUL, Dec. 17 (Korea Bizwire) — South Korea’s chief economic policy maker on Monday warned that the government may unveil further steps to curb soaring home prices should the latest fresh set of measures end in futility. Earlier in the day, the finance ministry and related government agencies came up with the toughest steps ever [...]

Once Red-hot, Home Prices in Seoul Show Signs of Stability

Once Red-hot, Home Prices in Seoul Show Signs of Stability

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 [...]