SEOUL, May 20 (Korea Bizwire) – The average rental income for individuals in the top 0.1% of landlords residing in Seoul neared a staggering 1.3 billion won, highlighting a stark divide in the capital compared to other regions of South Korea. The average for this elite tier in Seoul was 4.7 times higher than in Sejong, [...]
SEOUL, Sept. 30 (Korea Bizwire) — South Korea’s top landlords own more than 20,000 homes, data showed Thursday. Rep. Kim Hoi-jae of the Democratic Party referred to a Statistics Korea report indicating that the 100 South Koreans with the largest real estate holdings owned a total of 20,689 homes as of 2020. Jointly owned homes [...]
SEOUL, April 16 (Korea Bizwire) — The rent reduction campaign, in which landlords lower store rents for small business owners affected by the new coronavirus outbreak is spreading throughout the country. The Ministry of SMEs and Startups said Wednesday that 3,425 property owners in individual shopping complexes and 513 in traditional markets across the country [...]
JEONJU, Feb. 18 (Korea Bizwire) — The Jeonju Hanok Village, located in Jeonju, North Jeolla Province and visited by more than 10 million people every year, is the source of a feel-good story that has offered a respite to those weary from coverage of the coronavirus outbreak. A total of 64 landlords in the village [...]
SEOUL, Oct. 7 (Korea Bizwire) — It has been confirmed that as many as 18,000 “full-time” landlords make money by renting out apartments full-time, without any other job. According to data received by Rep. Park Hong-keun from the National Tax Service, the number of individuals that live off of rental income, or so-called ‘landlords’, came [...]
SEOUL, Oct. 2 (Korea Bizwire) — There are thousands of ‘underage landlords’ in South Korea who own real estate and collect rent. Rep. Shim Ki-joon of the ruling Democratic Party reported that there were a total of 2,415 juveniles who profited from renting out real estate in 2017. The young landlords generated 50.4 billion won [...]
SEOUL, Mar. 28 (Korea Bizwire) — An average landlord in South Korea owed 200 million won (US$176,000) to financial institutions last year, a central bank report showed Thursday. According to the Financial Stability Report submitted by the Bank of Korea (BOK) to parliament, the total financial debt of households that lease homes and commercial buildings [...]