Foreign ownership of land in Korea edges up by 0.01%

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Foreign ownership of land in Korea edges up by 0.01%

The amount of foreign-owned land in Korea increased 0.01 percent in the third quarter of this year, the Ministry of Land, Infrastructure and Transport said.

The ministry said foreigners acquired 2.33 million square meters (25 million square feet) of land and sold 2.31 million square meters during the July-September period.

By value, they saw a 157.9 billion won ($148 million) increase.

In total, foreigners own 225.76 million square meters of land as of Sept. 30, accounting for 0.2 percent of Korea’s land. The value of land with foreign ownership is estimated at 32.5 trillion won.

By nationality, Americans account for 54.3 percent of foreign-owned land, followed by Europeans, Chinese and Japanese. Gyeonggi was the province that has the most foreign-owned land.

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