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Naver Not Playing Fair, Competitors Say

Naver Not Playing Fair, Competitors Say

SEOUL, Aug. 9 (Korea Bizwire) — The way in which Naver is dealing with mobile searches for housing has ruffled feathers, as accusations that it is marginalizing its competitors’ websites in favor of its own services are increasing.   According to industry sources, the tension between Naver and its clients-cum-competitors started to sizzle in May of this [...]

Rush to Build Traditional Housing Faces Limitations

Rush to Build Traditional Housing Faces Limitations

SEOUL, Feb. 16 (Korea Bizwire) – Interest in hanok, traditional Korean-style housing, has skyrocketed with new architectural technology and financial support in the form of government subsidies, and more and more Koreans are now rushing to build houses using once-forgotten traditional designs. According to government sources, over 50 local governments have come up with official [...]

Research Shows Childbirth Falls When Housing Price Rises

Research Shows Childbirth Falls When Housing Price Rises

SEOUL, Jan. 4 (Korea Bizwire) – A rise in home prices tended to lower the birthrate, a trend that existed regardless of whether the economy was good or bad, a report from a local institute said Wednesday.  The Korea Institute of Child Care and Education followed the changes in home prices and their correlation to [...]

Mortgage Growth Slows in Dec. Amid Interest Rate Hike

Mortgage Growth Slows in Dec. Amid Interest Rate Hike

SEOUL, Jan. 4 (Korea Bizwire) – The growth of mortgage loans in South Korea markedly slowed last month amid indications of interest rate hikes and a downturn in the real estate market, data showed Wednesday.  Outstanding home-backed loans extended by six major banks here – KB Koomin, Shinhan, Woori, KEB Hana, NH and the Industrial [...]

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 [...]

Construction Sector under Gov’t Microscope over Possible Risks

Construction Sector under Gov’t Microscope over Possible Risks

SEOUL, Oct. 31 (Korea Bizwire) – South Korea’s financial authorities said Monday they will scrutinize the financial health and risk factors of major builders in a move to brace for a downturn in the construction business.  The authorities are set to look into the financial health of construction companies based on their semiannual reports while [...]

Seoul City to Provide Housing, Create Jobs for Young, New Artists

Seoul City to Provide Housing, Create Jobs for Young, New Artists

SEOUL, Aug. 17 (Korea Bizwire) – The Seoul city government on Wednesday rolled out its plan to support young and emerging artists, who often have irregular jobs and low income, by providing housing and career opportunities.  The Seoul Metropolitan Government plans to create some 15,000 jobs in the public sector and provide 1,000 apartments in [...]