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South Korea's housing market grew as central bank interest rates were cut at the beginning of the coronavirus pandemic. During this period, many prospective homeowners sought loans at lower interest rates to buy homes. Since then, rising central bank interest rates have led to a noticeable downturn in the housing market.
The year-end season in South Korea is usually vibrant. But this year has been noticeably different. The political turmoil – along with the devastating Jeju Air crash on 29 December – has ...
Korea Land and Housing Corporation real estate scandal is a suspicion that some employees of Korea Land and Housing Corporation (LH) have speculatively purchased land worth 10 billion won in Gwangmyeong and Siheung. The land is in the new towns' business areas, per the Moon Jae-in government's third New Town plan. [1]
Jeonse (English: / ˈ tʃ ʌ n s eɪ / CHUN-say; Korean: 전세; Hanja: 傳貰; Korean pronunciation: [tɕʌn.sʰe]), also known as chŏnse, key money deposit [1] or key money, [2] is a type of lease or deposit common in the South Korean real estate market.
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The lobby of the Eaves on South Gramercy Place in Koreatown is shown. The building converted into homeless housing has 58 bedrooms. (Myung J. Chun / Los Angeles Times)
In South Korea the public Korea Land & Housing Corporation has provided homes to 2.9 million households which is 15% of the national total of 19.56 million households. This includes 2.7 million newly-built public housing units and 1.03 million rental homes of which 260,000 were purchased or rented by the Land and Housing Corporation.
Korea designated 41 cities as major cities for urban regeneration from 2006 to 2007. Among them were the area designated as Seoul's first metropolitan district, Jung-gu district, Dongseo shopping area, Daejeon, Korea's eastern district and the eastern part of the Subway Station. These pilot zones were targeted for the improvement of the ...