SEOUL, Jan. 18 (Korea Bizwire) — South Korea’s finance ministry said Wednesday it plans to revamp a set of tax regulations on the property market to ease the financial burden of people amid soaring borrowing costs. Under the plan, South Korea will allow owners of two homes topay less taxes if they dispose of one [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korea’s finance ministry said Thursday owners of two homes will pay less taxes if they dispose of one of them during an extended period amid a slump in the home market. Under the plan, such homeowners will not be subject to heavier taxation if they offload one of [...]
SEOUL, Aug. 4 (Korea Bizwire) — South Korea plans to supply 132,000 housing units in Seoul and its neighboring area, in the latest effort to stabilize home prices and ease fears of shortages, Finance Minister Hong Nam-ki said Tuesday. The government will ease some construction rules, allowing redevelopment projects of aging apartment buildings to increase [...]
SEOUL, July 21 (Korea Bizwire) — Apartment prices in Seoul have risen the most during President Moon Jae-in’s term compared with previous administrations, a report by a civic group showed Tuesday. The average price of 82.6-square-meter apartment flats in the capital rose by 450 million won (US$375,438) on average during the first three years of [...]
SEJONG, Feb. 3 (Korea Bizwire) – The government said Wednesday it will nurture the property market into becoming a high value-added service sector by boosting real estate investment funds in a bid to make it a new economic growth engine. The Ministry of Land, Infrastructure and Transport said it will lower barriers and give tax [...]