SEOUL, Nov. 29 (Korea Bizwire) – Over 85,000 foreign nationals own a house in South Korea, with Chinese possessing more than half of real estate properties held by foreigners in the country, government data showed Wednesday. A total of 85,358 foreign nationals owned a house in South Korea as of end-June, up 4.6 percent from [...]
SEOUL, Dec. 13 (Korea Bizwire) – South Korea will supply 1 million “registered private rent houses” in the next five years to help tenants keep a stable residence without worrying about a sharp increase in rental costs, the transport ministry said Wednesday. If the owner of multiple homes registers one of them as a rental house with the government, the [...]
SEOUL, Nov. 21 (Korea Bizwire) – The government is set to adopt international standards for its vehicle indoor air pollution tests, which are stricter that the current limits. According to the Ministry of Land, Infrastructure and Transport (MOLIT) on Monday, new international standards for in-car air pollution were established at the 173th UNECE World Forum [...]
SEOUL, Nov. 9 (Korea Bizwire) — A new approval system is set to expand the use of drones in South Korea, including night flying, long-distance delivery, and live broadcasting. According to the Ministry of Land, Infrastructure and Transport on Thursday, the new measure designed to boost the drone industry through relaxed regulations and government support [...]
SEOUL, July 20 (Korea Bizwire) – Asiana Airlines was fined 900 million won (US$802,282) for a runway accident two years ago and the pilot responsible stripped of his license, the transport ministry said Thursday while announcing a series of punitive actions against carriers. Korean Air Lines Co. was ordered to pay 600 million won in [...]
SEOUL, Jul. 18 (Korea Bizwire) — The Minister of Land, Infrastructure and Transport (MOLIT) drew media attention last week when she showed up in a white hydrogen-fueled SUV vehicle during her visit to Cheonan, a move that signals the government’s effort to push renewable fuel vehicles. Kim Hyun-mee, who heads the MOLIT, was seen riding in [...]
SEOUL, July 6 (Korea Bizwire) – The South Korean government is set to give drone enthusiasts the green light to fly unmanned aerial vehicles after sundown, after lawmakers passed a bill to lift the ban on drone flights during the night. The aviation safety and security reform bill proposed by lawmaker Kim Sung-tae, a member [...]
SEOUL, Jun. 15 (Korea Bizwire) — Sales of electric cars in South Korea have grown sevenfold in the past year, as growing public interest is seeing more consumers trade in their gas-guzzlers to instead opt for more eco-friendly and energy-saving alternatives. According to data from the Ministry of Land, Infrastructure and Transport and the Korea Automobile [...]
SEOUL, May 13 (Korea Bizwire) – Growing income inequality is dividing the prospect of home ownership in the nation as a recent survey suggests some could take as much as nearly ten years longer than others to buy their first home. Nearly one in three households in Seoul predicted it would take at least another ten [...]
SEJONG, May 29 (Korea Bizwire) – New home permits in South Korea plunged nearly 30 percent in April from a year earlier, the government said Monday, amid its move to limit housing sales as a way of curing household debt and rising interest rates. Construction permits issued for new homes came to 43,568 last month, [...]