property value Archives | Be Korea-savvy

Korean Court Says Business Rights Should Not Be Taxed as Property Value

SEOUL, Nov. 13 (Korea Bizwire) — A South Korean court has ordered Incheon’s Yeonsu District Office to refund taxes to POSCO Wide, ruling that the district wrongly included the value of a golf course’s business rights in its property tax calculation. The Incheon District Court’s Administrative Division 2 ruled in favor of POSCO Wide, which owns [...]

Chaebol Heads’ Property Value Up 34 pct in 2019

SEOUL, May 5 (Korea Bizwire) — The value of houses owned by chaebol heads shot up 34 percent in 2019 from a year earlier, data showed Sunday. According to the data compiled by Chaebul.com, the combined declared value of houses owned by the country’s major 39 family-controlled business giants, called chaebol in South Korea, was [...]