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 [...]
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, 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 [...]
SEOUL, Aug. 8 (Korea Bizwire) – Nearly half of new apartment units in Seoul are smaller than 60 square meters, industry data showed Monday, reflecting the trend that more people prefer smaller housing. Of 15,980 apartment complexes built between January and August of this year, 45.1 percent, or 7,205 units, have a total floor area [...]
SEOUL, June 28 (Korea Bizwire) – Due to the stagnating economy and declining real estate sales, the number of Koreans migrating to different areas has declined in three consecutive months (as of May). The total number of domestic migrants in May was 589,000, the lowest figure for the month since May 1975 (480,000). Among those [...]
SEOUL, May 30 (Korea Bizwire) – The Ministry of Land, Infrastructures and Transport (MOLIT) revealed Sunday that it plans to implement a policy called ‘lease and purchase REITs (Real Estate Investment Trusts) for newlyweds’, starting in September. But it’s also evaluating the possibility pushing the start date forward, before the beginning of autumn, which is [...]
SEOUL, May 13 (Korea Bizwire) – A recent study has revealed that housing expenses, among other basic living costs, are the biggest financial burden for single-person households. The Korea Consumer Agency conducted a study on 1,000 single-person household consumers, in which 37.8 percent of participants pointed to housing expenses as their biggest financial burden. When [...]