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Article: Foreign Land Ownership Growth Slows Down: Ministry.
- Article from:
- YON - Yonhap News Agency of Korea
- Article date:
- November 1, 2004
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SEOUL, Nov. 1 (Yonhap) -- The growth rate of foreign ownership of South Korean land has faltered from increased prices and economic depression, the Ministry of Construction and Transportation said Monday.Real estate owned by foreigners totaled 155.04 million square meters worth 22.96 trillion won (US$20.53 billion) as of the end of September, up 5.1 percent from a year ago."Except for a case of an ethnic Korean increasing land owned as an heir in South Chungcheong Province in the second quarter, the growth rate was similar to the level of last year," a ministry official said. In 1997, land owned by foreigners came to 37.97 million square meters, but ...