SEOUL, March 21 (Korea Bizwire) – The number of fake real estate transaction filings more than doubled in 2017 from the previous year as more people tried to evade taxes amid a real estate boom in Seoul and its adjacent cities, government data showed Wednesday. As many as 772 false reports were submitted last year to lower the price of real estate transactions, up [...]
JEJU ISLAND/SEOUL, Jan. 12 (Korea Bizwire) – The airport on the country’s resort island of Jeju resumed operations and began transporting over 7,000 passengers who have been stranded after a series of shutdowns caused by heavy snowfall the previous day, the government said. The first flight bound for Gimpo, in western Seoul, took off 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, Aug. 10 (Korea Bizwire) — Smokers lighting up in the comfort of their homes will no longer be able to continue in safe anonymity. On August 9, the Ministry of Land, Infrastructure and Transport announced that it had revised existing regulations to cut down on indoor smoking in residential apartments. Under the new policy, apartment [...]
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, [...]
SEOUL, April 25 (Korea Bizwire) – The South Korean government is making it mandatory for large vehicles to be equipped with a lane departure warning system (LDWS) as part of a nationwide effort to improve road safety, a regulation that will take effect in July. The Ministry of Land, Infrastructure, and Transport (MOLIT) announced plans [...]