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Despite High Rent, Living Conditions for University Students are Poor

Despite High Rent, Living Conditions for University Students are Poor

SEOUL, Jun. 14 (Korea Bizwire) – University students who live alone in Seoul spend more than half of their monthly living expenses on rent. It has been pointed out that there should be necessary improvement in living conditions as high rent does not provide a better living environment. The Student Council of the Workers’ Party for Reforming [...]

80,000 Individuals Own 5 or More Housing Units Leased to Tenants

80,000 Individuals Own 5 or More Housing Units Leased to Tenants

SEOUL, Oct. 5 (Korea Bizwire) — A survey has found that 80,000 South Koreans own five or more housing units that are being rented out to tenants. According to an analysis by Liberty Korea Party Rep. Kim Sang-hoon of data provided by the Ministry of Land, Infrastructure and Transport (MOLIT), 6.14 million people owned a [...]

Office Rents in Seoul Increasing at Second-Highest Rate in Asia

Office Rents in Seoul Increasing at Second-Highest Rate in Asia

SEOUL, June 4 (Korea Bizwire) – A recent study found that the rate of increase for office rents in Seoul was the second-highest in Asia, among 19 major cities. According to a study conducted by major U.K. real estate consulting corporation Knight Frank, rents in Seoul during this year’s first quarter increased by 2.6 percent compared [...]

Landlord Cuts Rent in Half for Tenants Suffering from Depression due to MERS

Landlord Cuts Rent in Half for Tenants Suffering from Depression due to MERS

CHEONGJU, Korea, June 25 (Korea Bizwire) – An impressive text message from a building owner to his tenants became the talk of town in Korea. The good-hearted landlord cut monthly rents by half after tenants suffered from financial difficulties due to the widespread Middle East Respiratory Syndrome (MERS). On June 21, Lee In-soo (50), who runs [...]