Economy

Foreigners found to own more land in third quarter

The amount of land in Korea owned by foreigners’ edged up during the third quarter of this year from the previous quarter, government data showed yesterday.

The amount of foreign-owned land here came to 225.56 million square meters (22,556 hectares) as of the end of September, up 0.4 percent, or 850,000 square meters, from three months earlier, according to the data by the Ministry of Land, Transport and Maritime Affairs.

The estimated value of land owned by foreigners totaled 33.76 trillion won ($31.09 billion), up 0.76 percent, or 253.8 billion won, from a quarter earlier, the report showed. Foreign-owned land accounted for about 0.2 percent of the total.

Yonhap