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A record 1.2 million homeowners this year will be asked to pay a tax which is disputed as a punitive measure against those owning a single “pricey home” or multiple homes, according to the government. It is the first time more than 1 million homeowners will be subject to the so-called comprehensive real estate tax which was introduced in 2005.
Park Jin-young, the founder of K-pop powerhouse JYP Entertainment and singer, will put out his new single, titled
In the middle of May, amid glorious Korean spring weather, I led a nice group of people on a tour of a dozen shamanic shrines in the foothills of Gyeryongsan National Park, one of Korea's most sacred areas.
The government is on track to ease ultra-strict housing regulations gradually, amid escalating fears of the market falling into a prolonged slump in line with increasingly clear forecasts of a recession. Under the recent announcement by the Financial Services Commission (FSC), the government decided to raise the upper limit of the loan-to-value ratio by 10 percentage points to 50 percent when people buy housing in so-called speculation-prone areas, such as Seoul.
Chinese nationals accounted for over 60 percent of apartment purchases by foreign nationals in South Korea since 2015, a government report showed Monday.